The British Property Federation (BPF) has backed a major review of the rented housing sector announced by housing minister Yvette Cooper.

The BPF hopes the review will pave the way for greater investment in the residential market from institutions which could fund large scale, professional ‘build-to-let’ developments and put an end to the housing crisis.

It believes that while the Government’s housing targets have focused solely around building 3m new homes for ownership, the Government has constantly ignored the basic fact that people just cannot afford to buy new homes.
Corporate landlords could offer guaranteed long-term, professionally managed accommodation, with tenants not living in fear of repossession and/or of repairs not being carried out. This is the kind of professional rented sector enjoyed in Germany and across mainland Europe, where up to 50% of the people are housed in rented accommodation.

Ian Fletcher, director at the BPF for residential policy, said: “The modern private rented sector has achieved a lot over the past 20 years, but now has to adapt to new circumstances - for example, the need to house people unable to buy property or to access social housing. This poses new opportunities and challenges, and the review is therefore timely. We are generally positive that the Government is keen to support a sector which delivers for a wide variety of occupiers and landlords. Our hope is that a more strategic approach to the sector across government will help it keep its promises.”