14:24 PM, 9th June 2011, About 10 years ago
The British Property Federation has issued a word of caution over the distribution of the land set to be sold off by the Government.
Housing minister Grant Shapps announced yesterday that thousands of acres of land will be sold off to create 100,000 new houses by 2015.
Liz Peace, BPF’s chief executive backs the plans but said “Government must give consideration to who has the resources available to get on and build these homes, particularly while banks are still nervous about lending.”
They say insurance companies and pension funds are planning to invest in the building of the homes, and they are the only ones with the required capabilities.
Liz Peace continued, saying – “Institutional investors have access to the scale of funding needed to develop first-rate homes to rent, and central and local Government, through its planning powers and capacity to release land can ensure that such schemes become reality.”
“As one of the biggest holders of land in the country it’s right that the Government does what it can to help alleviate the housing crisis.”
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