BTR sectors reactions to Rishi Sunak as next Prime Minister

The Build to Rent industry’s reactions to the announcement of Rishi Sunak becoming the UK’s next Prime Minister.

Rishi Sunak who will become the UK’s next Prime Minister | BTR News
Rishi Sunak who will become the UK’s next Prime Minister. Image credit: Chris McAndrew, CC BY 3.0 via Wikimedia Commons.

We’ve collated some of the Build to Rent industry’s reactions and comments to the announcement that Rishi Sunak will be the UK’s next Prime Minister.

Melanie Leech, Chief Executive, British Property Federation

“The last few months have damaged the UK’s international reputation and economic standing; the country urgently needs strong and competent leadership to rebuild confidence. The new Prime Minister needs to confirm their leadership team as soon as possible and provide clarity on their strategy for stabilising the economy and their policy priorities. The property industry stands ready to work with Rishi Sunak in creating a thriving economy and addressing regional inequalities through the delivery of new homes, work and leisure spaces that are essential to revitalising our towns and high streets.”

Anne-Marie Brown, Founder and CEO, Love to Rent

“We would like to see Rishi Sunak recognise the important role that the Build to Rent market plays within the UK residential sector, especially as the cost of living and ever-increasing Bank of England Base Rate impacts every facet of day-to-day life.  These homes are a real quality choice for a secure home with many lifestyle and health benefits. We also ask him to answer our call to appoint a dedicated Minister for Renting who can support the thousands of families and people in the private rented sector who are choosing to rent and are not getting the protection they deserve. 

“A Minister for Renting would also be able to drive forward the important role that Build to Rent has within the property sector and how these professionally managed rental homes can provide more stability for renters in the future.”

Peter Hardy, Real Estate Partner, Addleshaw Goddard

“I’m hoping the appointment of Rishi Sunak will provide the industry with the level of certainty it needs to operate effectively. 

“A couple areas I would like to see the new government prioritise are affordable housing and a well thought out policy for unlocking development. 

“Further, I think the Building Safety Act is a very good thing for consultants but doesn’t necessarily do a lot to enhance safety. In practice, I worry that many of those responsible under the act will simply be incapable of dealing with all of the requirements. I think a few sensible reforms here would actually make the legislation more effective and prevent unnecessary delays to construction.”

Raj Kotecha, Co-Founder and Managing Director, Amro Partners

“Common sense has thankfully prevailed. At a time of global uncertainty and multiple economic challenges, competence is the most important thing and I believe Rishi Sunak can provide this. I hope he decisively draws a line under the chaos of recent weeks and governs in the national interest, choosing his cabinet wisely based on ability and experience alone.

“Reassuringly Sunak seems aligned with his Chancellor on the critical themes of fiscal responsibility and getting inflation under control, both of which are necessary to stabilise the economy and set about restoring the credibility of the UK on the global stage.”

John Angus, Managing Director, Switch Hospitality Management

“At Switch we welcome the new Prime Minister and hope that we can now enter a period of stability, with a clear plan for recovery and growth.

“We’d urge the new Administration to provide some longer term certainty on Utilities and Inflation.”