8 Sep

HCA add to buy-to-let market

HCA add to buy-to-let market

The House and Communities Agency (HCA) has announced it will add to the buy-to-let market in the UK by confirming it will deliver 555 new homes.

Earlier this week, HCA announced it will produce the extra properties in the private rental market by June 2012, in a deal it struck with housebuilder firm Berkeley Group.

Berkeley will receive £45.6 million from the HCA to build the new properties, which will eventually be available for rent on the open market.

The British Property Federation's chief executive Liz Peace has hailed the move, saying that it is important to deliver new homes in these difficult times.

"This shows that the financial numbers can be made to work and that large-scale market renting can support wider housing delivery," she added.

Ms Peace stated that the private rental industry "has an important role to play" to help the government meet the housing needs of the country.

This growing demand of people looking for a house for sale in the UK also came to the attention of Home Builders Federation's Steve Turner, who recently said there is a "huge undersupply of housing" in the UK.ADNFCR-1222-ID-800057310-ADNFCR

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