Chancellor Rachel Reeves is reportedly planning to introduce a 10-year rent settlement for social landlords in the next Budget on 30 October.

In response to proposals under consideration by the Chancellor, Ian Fletcher, director of policy (real estate) at the British Property Federation, said: “A ten-year rent settlement in the social housing sector would be a good way of boosting the supply of affordable homes. It would encourage greater investment in the sector by providing the certainty and stability that investors seek in investing in the sector.

“For example, long-term investors, such as pension funds, who want to match their investment returns with their liabilities paying pensioners. It would also reduce risk in the sector and therefore allow it to raise capital at lower rates, in effect a form of subsidy. We are therefore encouraged to see the new Government is considering this.”