Coalition signs deal on Build to Rent homes

The government announced yesterday that it had signed a deal to build 190 new homes under it’s Build to Rent Scheme. The reason that announcement was announce was not so much the 190 homes were being built but the fact that the scheme is finally under way and that six towns will see the first homes to be built under this new scheme.

The government is keen to lay the foundations for this idea as it wants o demonstrate that it can be involved with large scale developments that will deliver new homes to rent which will boost the properties to rent in the private sector. It is a first of it’s kind and the government are obviously very keen to see it succeed.

100,000 new homes to be built by 2015

£1bn has been set aside for the scheme and will not only provide new homes but will mean a boost for the local economies of these towns. These new homes will be built in Horsham, Bristol, Brockworth, Hemel Hempstead, Cambridge and Hampshire.

The coalition is also keen to point out that a further 36 sites have been shortlisted for development that could deliver a further 6,500 new homes by 2015. With the increasing demand on housing the government is looking to deliver 100,000 new homes by the end of 2015.

The Build To Rent Scheme is seen as a significant shift for the government and local authorities who traditionally build social housing. It is hoped that by involving the private sector the standard of accommodation will be higher and will provide homes in areas where there is a desperate shortage. too much of the accommodation in Britain is sub-standard and the coalition is keen to improve the living conditions on Britain’s families. These new homes will be built by Bovis Homes and Mill Homes who are amongst the largest developers in the UK.