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"Ministers are considering a new wave of publicly-funded housebuilding, to kick-start the ailing construction industry and ease the shortage of homes.
"... [A report] recommends that local authorities make fewer demands in return for planning permission, and review conditions attached to developments that already have planning permission but have stalled over cost concerns. In return, councils could impose other conditions on owners, for example that new homes have to be available to rent for 10-21 years.
"The report says the government and local authorities could donate land or even funding to reduce the initial outlay, and so the risk, for developers, in return for a share of the profits when schemes are sold, usually to big institutions such as pension funds which want a steady return for investors."
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| Link to BBC web site |
BBC: "UK private rental sector must grow, says Montague report"
"Institutional investors could fund the large-scale building of private housing for rent, a report for the government by Sir Adrian Montague has said.
"He says a combination of recent tax changes and wider market conditions could help the sector to grow.
"Sir Adrian was asked for ways to tackle the UK's housing shortage, especially in the private rental sector."
Daily Telegraph: "Relax rules on cheap housing for the poor, says Shapps"
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"The Minister said new rental developments without cheap housing are better than no new homes at all. His comments come after a new report from Sir Adrian Montague, a top businessman, warned graduates and young professionals face a shortage of private rented property.
"... He said:
"If the costs of building are so high that you end up with no development, no regeneration, no community benefits overall, then, actually, you’ve set the bar so high that it’s disadvantageous to [=bad for] everyone."
"... It comes as George Osborne, the Chancellor, prepares to unveil a major housebuilding programme this autumn."
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