Temporary Accommodation Costs

Lord Best Excerpts

Wednesday 31st January 2024 Lords Chamber

[Baroness Scott of Bybrook (Con)]

My noble friend is absolutely right. The Government will support institutional investment in the private sector as well as in the social rented sector, provided, of course, that they stick to the rules and we can regulate them. That includes Build to Rent homes, which can boost supply and drive up standards. We are offering support through the £1.5 billion levelling up home building fund being delivered through Homes England to provide loans, equity investment and joint ventures to encourage such institutional investment companies and to support new Build to Rent developments. I think they will be a growing part of the market.

[Lord Best (CB)]

My Lords, I declare an interest as chair of the Devon Housing Commission. I can confirm that the rise in temporary accommodation is not just in London and the conurbations. Devon is deeply affected, and that affects the budgets of local authorities. What progress is being made with the Government’s proposals to enable local authorities to limit the switching or changing of use of ordinary private rented accommodation into Airbnb holiday accommodation and short-term lets, which is having a huge effect in Devon and elsewhere?