Plans to encourage more private investors to back a new initiative to develop build-to-let housing schemes has been unveiled today (August 23rd).
The blueprint for the scheme was outlined in the Montague Report. According to the new publication, tax changes and the wider market conditions would make the development of this sector of construction relatively straightforward.
Before this can happen though, the report claims that the government must deliver some targeted incentives to encourage the programme, which offers the potential to reduce the housing shortage and create more construction jobs.
Sir Adrian Montague lend the review, which explored ways in which to tackle the thorny issue.
"Rental housing sector offers potential investment opportunities of interest to institutional investors," he said,
"But real momentum has been inhibited by constraints affecting the supply of stock, the treatment of rented housing schemes under the planning system and the need to create confidence among investors."
Among the key recommendations put forward in the review is the release of government land for the schemes, which would help share the development risk in the short-term and get projects moving.
Sir Montague also recommended the creation of a task force to support and encourage build-to-let investment.
Author: Editor Gavin Pearson (email@example.com or 0207 202 0255)