Rental sector 'solution to house price woes'
Expansion of the private rental sector could be the key to halting the UK's runaway house price inflation, one industry expert has claimed.
The price of an average home in the UK has risen by 227 per cent over the past decade - growth which many analysts say will continue unabated unless the issue of housing stock shortages is addressed.
They note that buy-to-let landlords are among the few investors who have the ability to expand their portfolios and spur on development in an otherwise credit-crunched property market.
Hinting at the prospect of moving towards a US-style professional rental sector, therefore, Jacqui Daly of Savills said: "By increasing investment in rented housing you will increase the supply of housing. More housing is going to reduce the amount of house price growth.
"Ultimately, if you had enough supply to meet demand you wouldn't have 20 per cent house price growth a year," she concluded.
The British Property Federation recently told the government that a US-style professional rented sector could solve the UK's housing crisis.
Published 28th February, 2008
© 2008 Estates IT Limited
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Expansion of the private rental sector could be the key to halting the UK's runaway house price inflation, one industry expert has claimed.