The FT’s Ed
Hammond says that Aviva’s plan to enter the UK’s rented housing sector
highlights a structural shift in the country's letting market at a time of
acute housing shortage. He notes that people close to the plan have said that
Aviva may do a deal with A2Dominion to take control of
thousands of homes in London and the south-east of England. The deal would
involve the groups launching a special purpose vehicle that would build a mix
of social and open-market rented houses. Under the plans being discussed, Aviva
would take control of a portion of the homes to provide seed funding for a
private rented portfolio. Mr Hammond believes that such a deal would be
welcomed by the government, as it has been keen to encourage institutions to
become landlords as an alternative to buy-to-let investors. He also notes that
until the late 1940’s insurers and pension funds were amongst the largest
owners of residential property in the UK.
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