Today’s publication of the Montague Review into institutional investment in build-to-let addresses an important gap in our housing market. Large numbers of people, and a growing number of families, who would have bought homes in the past are now shut out of ownership for the medium to long term.
Dominated by buy-to-let landlords, the private rented sector currently offers them variable quality and limited security at a high price. These working families represent a new form of housing need but they risk being overlooked if the Review’s recommendations get caught up in a conflict between affordable housing (or social housing as it used to be called) and the private rented sector.
The recommendation causing all the consternation is the Review’s proposal that local authorities should have greater flexibility in negotiating affordable housing requirements on build to let schemes to help them get off the ground.
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