黑料专区

Brendan Geraghty, CEO of the听黑料专区 (ARL), the membership association and representative body for all institutionally backed, professionally managed purpose-built rental living sectors including urban and suburban single-family and multi-family rental, co-living and later living, comments:

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听鈥淭he acknowledgement of Build to Rent in the Autumn Budget is recognition by Government of the role that BTR in all its guises can make to housing investment and growth.

鈥淭he Autumn Budget provided the Government with the perfect opportunity to demonstrate its commitment to 鈥榝ixing the foundations鈥� by putting housing front and centre of their plans – yet they did not go far enough today. Housing is the stable foundation to all investments and growth that have been identified in the Budget and industrial strategy, and whilst the reference to support of Build to Rent is welcomed, real certainty for investors is essential.

鈥淲hilst the ARL welcomes that the Government has acknowledged, through its previous announcements, the massive demand for new homes, outlined its commitment to transforming the experience of private renting through its proposed Renters鈥� Rights Bill and recognised the role of Build to Rent in the NPPF Review, we continue our call to view housing as foundational to the future economic growth of the country. 听

鈥淗ousing should be right at home in the UK鈥檚 new modern Industrial Strategy as being critical to facilitating the growth which the Government desires. The 拢3听billion of additional support for SMEs and the Build to Rent sector, in the form of housing guarantee schemes, is welcomed, although greater detail is needed.

The increased funding in social homes in the Affordable Homes Programme is also welcomed as part of a mixed-tenure approach to housing development but this, and future Budgets, should bolster and facilitate investment into housing of all tenures, for the long-term.

鈥淭he Government鈥檚 desires to attract private investment, both domestic and international, to the UK is welcomed by the ARL. The Build to Rent sector has already attracted 拢35 billion of institutional investment in the last decade and 拢800m in the last quarter alone; it has the ability to attract 拢300 billion of domestic and international inward investment. Investors require certainty and incentive however and we hope that this Budget moves attitudes in that direction.

鈥淭he Chancellor of the Exchequer, Rachel Reeves, promised to 鈥渢urbocharge the delivery of 1.5 million homes鈥� in her maiden Budget. This will be very challenging with current low levels of construction starts and the contraction of PRS. To achieve this objective the Government needs to smooth the road to institutional investment in BTR and implement the recommendations of the recently published . The ARL urges the Government to work with the sector to enable the investment required to deliver over 2 million good quality, professionally managed homes to rent across the UK.鈥�