BPF welcomes London's rental plan

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The new housing plan for London has been welcomed by the British Property Federation (BPF).

Recently, the Mayor of London outlined plans to encourage institutional investment and create a wide-ranging private rented sector in the capital.

According to the BFP, the plans will ensure that more property companies develop and invest in private rented sector and this will improve the supply of housing in London. It adds that this is especially useful for those unable to afford to buy their own property, but who do not qualify for social housing.

Ian Fletcher, director for residential policy at BPF, explained: "What is often forgotten is that the private rented sector is bigger in London, than either housing association or council provision.

"The Mayor is therefore to be commended for recognising the importance of the sector and integrating it into his strategy - a sharp contrast with the recent housing green paper, which was silent on the use and role of the private rented sector."

Recently, the Chartered Institute of Housing (CIH) said that the government should set up a new regulator to oversee the provision of social and affordable housing in the country.

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