Residential real estate investment manager – Long Harbour – releases its White Paper, Build to Rent: Helping the UK Build Back Better. The White Paper outlines how the sector can play a pivotal role in supporting the UK’s social and environmental challenges.
The Paper sets out how the Build to Rent sector is well-positioned to help rebuild the economy and fuel the housing market through the cost-of-living crisis and beyond. The method of funding through long-term institutional investment ensures a long-term, stable financial backing for development, producing high-quality, affordable homes.
By building modern and sustainable homes, the sector can drive the Government’s commitment to Net Zero and a green recovery, stimulating the behavioural change required across industry.
There is also an important role for Build to Rent to play in levelling-up across the UK; investing in regions where housing need is acute, whilst building real communities that bring together existing and new residents.
In addition to setting out the benefits of Build to Rent, the White Paper makes a number of calls to Government to support the growth of the sector. Long Harbour believes that there should be a level playing field for Build to Rent with other parts of the housing market, and therefore Government should avoid regulation that will deter investment into the sector.
The Paper states that there is a lack of policy focus on Build to Rent and its potential benefits to UK growth, suggesting the creation of a ministerial position with responsibility for Build to Rent in the Department for Levelling Up, Housing and Communities.
Long Harbour has also called on the Government to remove barriers which are preventing Modern Methods of Construction (MMC) from becoming an integral element of housing delivery, as well as financial incentives which accelerate the sectors contribution to the building of greener, more efficient homes.
By removing these barriers to entry, more Build to Rent developers would be able to improve energy efficiency, reduce waste and deliver housing stock with a longer life cycle.
“The Build to Rent sector has remained exceptionally resilient throughout the pandemic thanks, in part to the fundamental strength of its investment model. The White Paper underlines Build to Rent’s strength to significantly increase the supply of housing across the UK, level up the regions through investment and regeneration, whilst playing a key role in the UK’s efforts to transition to Net Zero.
“As we enter the worst cost-of-living crisis in 40 years, we will continue to discuss with policymakers the importance of continued investment and how the sector can help deliver on the Government’s priorities.”James Aumonier, Chief Operating Officer, Long Harbour