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`Urgent need` for more rented housing

16/06/2008

The strong demand for rented housing is being overlooked by the government in favour of helping buyers, claims the charity Centre for Cities (CFC).

The difficulties in finding affordable homes to buy and of securing mortgages and remortgages, plus a lack of social housing, are leading more would-be buyers to rent accommodation. This is causing a shortage of rental properties, according to CFC`s research.

Home ownership, whether fully owned or via shared equity schemes, is currently putting people is danger of repossession, says the report.

Director of CFC, Dermot Finch, said the government is not concentrating enough on the rental situation. "Unless this changes, the young and job movers will have difficulties finding somewhere decent to live," he commented.

An annual increase of 50,000 new rental homes is necessary to meet growing demand, a report from the Department for Communities and Local Government committee claimed last month.

Greater London and the south-east have seen the largest gap between demand and availability of rental properties, according to a report by the Association of Residential Lettings Agents, released earlier this month.

Many debts unaffected by base rate cut 09/01/2009 - Yesterday, many borrowers welcomed the Bank of England’s base rate 1.5% base rate – an historic low 08/01/2009 - Today’s base rate cut by the Bank of England’s Monetary Gas price cuts expected 07/01/2009 - Energy company Scottish Power has announced the launch of a Personal debt about £1.5 trillion 07/01/2009 - The UK’s personal debt stands at around £1.5 trillion, according