The Confederation of British Industry (CBI) has urged the
Government to stop treating people who rent privately as an “after-thought” and
instead do something to boost investment in the sector. Currently the
rental market is dominated by small scale ownership and management, with larger
landlords owning 10 or more properties making up only 1% of the market. The
boss’s ‘union’ has warned that with the debate focusing on home ownership,
‘generation rent’ is in danger of being left behind. By 2018, the organisation said, 1 in 5
households will live in private rented accommodation. Amongst the measures the CBI is calling for
are the Government to reduce the VAT rate on repair and renovation to lower
costs, and councils to do more to drive investment from large institutions.
Read more on the Housing Excellence website.
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