Large-scale private rental could be the solution for the UK housing crisis, which is spiralling out of control, a research report on the UK property market by KPMG, says.
In its report “New Foundations”, KPMG emphasised the role of the Private Rental Sector (PRS) in improving the housing scenario in the UK. The PRS sector is witnessing growth with established players offering a wide range of products.
“The best long-term solution in my view lies in the PRS – not today’s fragmented and insecure market – but in large, purpose-built developments overseen by a large single management company. This model offers tenants greater quality of product and flexibility of tenure, but can the British change their aspiration to own and their antipathy towards renting? I believe we will witness such a shift in the next 20 years,” Bill Holland, Partner, Real Estate Audit, KPMG (UK), said in the report.
KPMG believes that the entry of serious investors to finance a substantial number of large-scale PRS apartment buildings is the way forward for the UK property market. Developers are already creating PRS apartment buildings to offer quality accommodation by harnessing economies of scale.
Strawberry Star has several attractive private rental houses in London for tenants in high-growth areas, such as Vauxhall/Nine Elms and Royal Docks. If you are interested in viewing any of these bespoke apartments, connect with our estate agents at our London office.
Both owners and occupiers will want very different things in 2036 – and greater connectivity will give them the power to make those demands.