Comment from Brendan Geraghty, Chief Executive Officer, UK Apartment Association (UKAA)
“The UKAA welcomes the commitments to increased new home delivery made at this week’s Labour Party Conference, especially to 1.5 million new homes and improvements to the planning system.
“Purpose-built rental homes have a key role to play in addressing the housing shortage in the UK deliveringaffordable, high quality, secure accommodation for those whose access to home ownership is limited and helping to accelerate housing delivery. The growth of the Build to Rent sector is dependent on continuing to attract capital investment. However, the biggest obstacle to delivering these homes is the planning system.
“The on-going delays to planning exacerbated by changes to the National Planning Policy Framework (NPPF) have led to 50 local authorities pausing or reducing local housing development plans, directly leading to delays and uncertainty for investment in Build to Rent.
“Therefore, the pledge from the Labour Party to improve the planning environment is a positive step towards bringing greater certainty to investors in both urban and suburban multi and single-family dwelling Build to Rent.
“The UKAA will continue to work with all political parties to establish the importance and potential for delivery of high-quality homes through Build to Rent, and the high standards to which owners and operators deliver for their residents and communities.”