photo credit: SouthbankSteve
Property and planning experts have backed a report which recommends government help to expand the UK private rented sector.
The ‘Rugg Report’, released last week, suggests tax perks for property investment landlords and a mandatory regulation system for lettings agencies.
Thinktank Centre for Cities has backed the review, as has the National Landlords’ Association (NLA), among others.
Centre for Cities director Dermot Finch said:
“Julie Rugg’s review says we need to ‘grow the business of letting’ homes. We agree.
“We know from our own research that cities, particularly fast-growing cities like Bristol and Cambridge, urgently need more high quality private-rented housing to support their labour markets.”
He added the government’s three million 2020 new homes target is looking “ever more unrealistic”, saying the goal should be reviewed to include more homes for rent.
The NLA also called the report an “important watershed” that “does away with the claim there is some kind of crisis in buy to let or the wider private rented sector.”
The Rugg report was written by Julie Rugg of York University and was commissioned by the government earlier this year as an overall review of the rented sector.
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