Let property may be the future
Housing Minister, John Healey recently discussed how more Briton's are now turning to the rental sector in search of a home instead of looking to purchase a house of their own. A recent increase in house prices and a further lack in the release of funds from the banks have made it increasingly difficult for a person to purchase a new home.
He also discussed the Governments new plans to invest £290 million into the housing market in an effort to build more affordable homes across the UK. Mr Healey's plans will introduce a further 5,500 homes into the UK, hoping to boost the housing market in the process.
He said: "I want to expand the number of homes built for private rent and improve the quality and security of the private rented sector. That means supporting new institutions into this market, including through changes to tax support and incentives."
In his speech to the Fabian Society he explained how the number of people looking to invest in new housing had been in decline since 2005. He explained how the fall in the number of people able to purchase new properties was 'not such a bad thing'.
News brought to you by Insure My Let Property providing a wide range of let property insurance tailored to suit all landlords.
January 18th 2010