Following today's unveiling of the Autumn budget by Chancellor Philip Hammond, Get Living's CEO, Neil Young, has released the following comments:
"We welcome the much-needed extra support for housing and are pleased that the Chancellor mentioned by name the purpose built private rented sector.
"The Chancellor is right; the UK can only truly address the housing crisis by addressing supply. The build to rent sector is now positioned as a key part of the solution and it is only these sizeable, strategically located schemes that will deliver the vast numbers of new homes the UK needs.
"Across the build to rent sector we are rapidly approaching the milestone of 100,000 homes complete, under construction or in the pipeline. We are delivering significant supply in urban areas where it is desperately needed.
"We look forward to seeing how the Chancellor will unlock more urban sites, alongside further funding through Homes England.
"The build to rent sector also delivers supply more quickly once the homes are built. As build to rent is less constrained by the phased approach of traditional housebuilders, people move into our homes four times faster than into build for sale developments.
"It’s been commented that when you walk around East Village, it’s clear our homes are lived in. While some new developments result in homes being purchased and left empty, that’s not the case in our neighbourhoods. 98% of our 1,500 homes in the former Athletes’ Village, East Village E20, are now occupied by people who reflect the diversity of the city; representing more than 80 nationalities, with average resident salary in line with the average working London salary, from young families and young professionals to older retired couples. At Get Living, we do more than rent homes and are long-term stewards of our city neighbourhoods, ensuring they’re safe, vibrant and well-cared for places to live.
"We also welcome the announcement of a consultation on longer tenancies in the private rented sector. The build to rent sector is providing an all-round better deal for renters and we are proud to have always offered the security of three year tenancies, with the flexibility of a resident-only break clause after six months. We have never charged fees, have scrapped security deposits, and pride ourselves on providing a great customer experience. We stand ready to support this consultation.
"In short, the build to rent sector is providing desperately needed new homes and a better deal for renters within thriving new neighbourhoods, and we hope for greater engagement with government in the year ahead."