Private rented sector 'essential to economy'
A new consultation document has this week been announced by the government which will focus on the role the private rental sector should play in the UK's housing market and the economy as a whole.
Commenting on the consultation, the Treasury reported the industry is a vital and growing part of the UK housing market, representing around 14 per cent of all households in England - equivalent to around three million homes.
Following the announcement, Mark Garner, founder of LettingZone.com, said: "The private rented sector is absolutely essential to a healthy economy as it allows people to move and find jobs while not committing to all the purchase costs."
Britons looking for flats to rent in Blackheath - or elsewhere in London - in order to be close to work, without having to pay out for the high cost of property for sale in the capital may be in agreement with his comments.
The British Property Federation recently claimed private landlords are the only way to close the UK housing gap.
It claimed the government and local authorities should do more to encourage investment in rental opportunities.
Written by Ben Carter
Published 5th February, 2010
© 2010 Estates IT Limited
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