Following the speech on aspiration for homeownership made by Housing Minister Grant Shapps MP at RICS on Tuesday, Ian Potter, operations manager of the Association of Residential Letting Agents (ARLA), commented: "Making sure there are enough homes for those aspiring to own one is an important step in shoring up the housing industry. Yet it is important that in doing so, the Private Rented Sector (PRS) is not overlooked.
"Many people simply cannot afford to own a home - and they still will not, regardless of increased mortgage finance and availability. As the government has accepted, the PRS is "significant" and accounts for 13% of households in the UK. Clearly, it will be fundamental to market recovery - hence we urge the Government to publish its views and recommendations on the Rugg Review of the Private Rented Sector immediately in order to improve standards for the consumer.
"It is also important to remember that some people rent out of choice - a choice that gives them increased flexibility over location and type of home. The age of aspiration may be back, but it should be an age in which people aspire to the kind of living arrangement that best suits them."
