Widespread support for UK build to rent sector in Parliament according to recent poll
It is not often that parties in Parliament put aside their differences, but a recent poll has shown that it can be possible as 81% of MPs say they support the build to rent sector and the contribution it makes to the UK housing supply. Significantly 62% believe that it will make a much higher contribution in the supply of housing in the next five years. The figure released show that the measures have the support of 71% of Labour MPs and 91% of Conservatives.
Naturally when it comes to party politics there is little chance of everyone being in total agreement, some MPs consider that the buy to let property market will not make a higher contribution to the housing market, 27% believe that it will, whilst 41% expect that it will be lower over the five year period.
There was a split on the question of social housing and affordable rent though, with just 26% of MPs believing that they would expect to see a lower contribution of social housing and affordable renting. This compares with the 39% who believe that they would expect to see a higher contribution over the next five years.
How long a person has been an MP also seems to make a difference in how they view the question of how the build to rent will help to solve the housing problem. When viewed the results show that 46% of new MPs are more likely to see this sector as a growth area, this compares with 27% of MPs who are regarded as long serving.
British Property Federation (BPF) has said that it estimates that there is around £30billion of investment waiting to be taken up in the build to rent sector, this they firmly believe will deliver a significant amount of badly needed housing all across the UK.
A Build to Rent Map which is produced by the BPF, shows that already there are more than 37,500 build to rent units, all of which have planning permission, that are under construction, most of this does though, appear to be in the London area, the map indicates that here there are 20,000 units, clearly this is where the demand is the greatest.
Home ownership is still the ultimate aim of most couples but, MPs recognise that increasing house build is welcome, either for renting or buying.