The housing and planning minister has backed the build to rent sector in his first major speech since being appointed.
Speaking at Property Week’s RESI 2016 conference in Newport, Gavin Barwell said the country’s housing ambitions would “never be achieved” without a significant boost for institutional investment in the private rented sector.
Barwell told delegates: “We need to build more homes of every single type and not focus on one single tenure.”
He emphasised the need “to make sure we have a good, thriving private rented sector”.
Barwell, also minister for London, singled out Essential Living’s Vantage Point scheme in Archway, north London, for praise. The 118-home project, an office conversion which sits immediately above Archway tube station, has opened for lettings this month. The minister said this “must be the start”.
Also commended was Pocket Living’s development in Lambeth, south London, for its innovative use of modular construction.
He said: “Recent growth in the bespoke rental market has been impressive but this progress must be expanded.”
Barwell claimed that a growing number of people and families are now choosing to rent, so the build to rent sector will “prove so important” in providing for changing attitudes.
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