From City AM:
Calls for more properties to be built in London to slow rampant price growth are being partly answered. The capital is leading the way in the Build to Rent scheme, with the number of rental developments in the pipeline more than double that in the rest of the UK.
The scheme allows developers to build properties for rent with the government sharing risk in order to encourage new housing investments....
“The momentum behind Build to Rent continues. It is moving firmly beyond theory and into reality. With continued support from both national and local government this progress can continue,” said Andrew Stanford, residential fund manager at LaSalle Investment Management.
“The growing number of long-term institutional investors in the sector will then find a suitable home for their capital, ensuring that housing supply and tenant choice can increase.”
We now appear to be in some bizarre parallel universe.