Cities 'need more residential lettings construction'
News Category: Industry News
Published: 18-Jun-2008
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The government needs to build more city homes for the purpose of residential lettings in the future, according to Centre for Cities.
Densely populated urban centres such as London are forecast for a sharp population rise over the next decade, research suggests.
According to the Office of National Statistics, the borough of Camden alone is set for population growth of 26 per cent from 2006 to 2016.
Commenting on its Future of the Private Rented Sector report, director of Centre for Cities, Dermot Finch, claims that "the government is focusing too much on home ownership and not enough on rent".
The report suggests that there could be as many as three million Britons renting by 2021.
On that basis, the firm estimates that around 20 per cent of new homes need to be constructed for rental purposes alone.
The report points to Leeds as an example of the wrong kindof investment, where many residential properties stand empty.
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