More than 2.5m homes could be released on to the property
market if older owners were given better incentives and information on
downsizing, the Royal Institution of Chartered Surveyors (Rics) has claimed. It
said tackling the housing crisis needed to address barriers to supply, rather
than simply addressing demand, and that 2.6m homes worth a combined £802bn
could be released if homeowners received greater support to move into
specialist retirement or smaller properties. The group’s Residential Policy Review also recommended
that second homeowners should be charged full council tax to encourage them to
sell or let the property, and that new developments should have a statutory
percentage of affordable rented accommodation. Download the review from the
RICS website.
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