coastal community

Government should back rent controls, says housing report

The Conservative party has been urged to put rent controls at the heart of its general election manifesto.

‘Turning the Tide’ – a study carried out by the Housing & Finance Institute – has stated that a ‘fair value rents regime’ would repair the damaged housing markets in coastal communities.

This would include a locally assessed fair value rent for a property reflecting its location and quality.

Natalie Elphicke, chief executive of the Housing & Finance Institute, said: “There is a toxic trio of abnormally high proportions of rented housing, for that rented housing to be of poor quality and a lack of job creation.

“Dysfunctional housing markets are proving fundamental to the spiral of decline in many of Britain’s coastal communities – and something radical must be done to turn the tide.

“In particular, a new fair rents regime would significantly speed up the renewal of the most deprived areas, drive a fairer deal for tenants and taxpayers – and kick-start much-needed regeneration.”

The report also suggests that the government should support housebuilding and housing investment in deprived areas, as well as creating a one-stop shop that extends housing renewal powers and provides guidance on what is permissible to drive local renewal and growth.

Data from the Elphicke-House report found that for every £1 spent on construction, £2.09 is generated in economic activity.

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