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BPF responds to Shapps’ plans to release public sector land to build 100,000 homes

The property industry today welcomed Housing Minister Grant Shapps’ announcement that Whitehall could release enough land from its control to build 100,000 homes, urging Government to work with large investors such as pension funds to help ease the nation’s housing crisis.

If central and local Government were to work with large investors, one of the few groups with the resources available, new homes to rent could be developed on a large scale. It has been reported that well-known pension funds and insurance companies, stand ready to invest up to £1bn each in building homes for rent.

Liz Peace, chief executive of the British Property Federation, said: “As one of the biggest holders of land in the country it’s right that the Government does what it can to help alleviate the housing crisis.

“However, Government must give consideration to who has the resources available to get on and build these homes, particularly while banks are still nervous about lending.

“Institutional investors have access to the scale of funding needed to develop first-rate homes to rent, and central and local Government, through its planning powers and capacity to release land can ensure that such schemes become reality.”

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Patrick Clift, Media and Public Affairs Manager, on 07834 439 505 or at pclift@bpf.org.uk

Paul Sweeney, Media Officer, on 07841 732 194 or at psweeney@bpf.org.uk

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