Residential News
Former Gordon Brown adviser to lead private rented sector investment review
Housing minister Grant Shapps has announced that Sir Adrian Montague will lead a review of barriers to investment in private rented homes.
His review will examine how best to encourage greater investment in rental properties, in order to support the rapid growth of the private rented sector.
The housing minister said: “I’m delighted to announce that Sir Adrian Montague will lead the Private Rented Sector review. The sector has seen several years of strong growth and increasing standards, but in some areas rents have begun to rise faster than wages. The terms of reference of the review can be found at:
www.communities.gov.uk/documents/housing/pdf/2057113.pdf
The minister said “Over three million households live in privately rented homes, so it’s vital that we take steps to ensure the sector’s continuing growth and affordability.
“Sir Adrian brings with him a wealth of experience and knowledge of the role of the private sector in boosting infrastructure investment and of housing policy, making him an excellent choice to lead the review.”
Sir Adrian said: “I’m honoured to have been chosen to lead the review into the potential for institutional investment in housing.
“The private rental sector has gone through a period of rapid growth, and it’s crucial that the Government does all it can to ensure that demand continues to be met.
“I aim to help remove barriers to investment, contributing to the continuing health of a sector that millions of people rely on.”
Sir Adrian is the non-executive Chairman of 3i, Michael Page International plc, Anglian Water Group Ltd and CellMark Investments AB of Gothenburg, and a non-executive director of Skanksa AB of Stockholm.
He was a member of the Housing Finance Group established by the Homes and Communities Agency in the wake of the credit crisis, and also chairs an advisory group reporting to Business Secretary Vince Cable on the establishment of a Green Investment Bank.
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