Councils should be harnessing the power of private investment to boost their plans to build much-needed new homes, the Government claims.
An interim report from the Department for Communities and Local Government says that despite construction of new council homes being at a 23-year high, there is potential for 'even more' to be done.
The report encourages local authorities to learn from a number of ‘innovative councils’, which are already tapping into private finance to provide new homes for their communities and creating jobs along the way.
‘Strengthening the relationship between councils, industry experts, business and private finance could help councils to realise their housing ambitions and support their communities,’ said Natalie Elphicke, one of the report’s authors.
Housing minister Brandon Lewis added that there was clearly ‘untapped potential’ for councils to secure private investment and change ‘plans on paper’ into real properties.
The next stage of the report will look at the challenges facing local councils, along with possible solutions, as they put housing at the top of their priorities.
