Treasury announces consultation on rented sector
The government has published a consultation document into the role the UK's private rental sector should play in supporting the country's economic recovery and increasing housing supply, it has been revealed.
According to the Treasury, the private rental industry is "vital" to the increasing housing market and represents some 14 per cent of all English households - equivalent to three million homes.
In light of this, the government has stated it will continue to support the sector.
Exchequer secretary to the Treasury Sarah McCarthy-Fry said: "The private rented sector has been the most affordable, flexible and responsive segment of the market. We need to build on this to ensure it can play its part in supporting the recovery and meeting these urgent needs. "
The qualities of affordability and flexibility may have been what attracted Britons to flats to rent in Hammersmith or another part of London, with property prices in the capital typically higher then elsewhere in the UK.
A spokesperson for the National Approved Letting Scheme recently suggested increasing numbers of people prefer to rent, even if they can afford to buy.
Written by Andy Britten
Published 4th February, 2010
© 2010 Estates IT Limited
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A consultation on the UK's private rental sector has been announced by the Treasury, in news which may interest people considering property to rent in London.