Institutional investment in private sector, HCA appoints advisor

The governments announcements of an initiative to attract private funding into the private rental sector through the PRSI.

We have already voiced our scepticism on the likelihood of the government being able to carry through their initiative.

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Non the less the government seems keen to press ahead with the initiative and has according to Property Week just appointed Goldman Sachs banker James Wardlaw to advise the Homes and Communities Agency (HCA) on the way forward.

The challenge for any government is finding a way to structure any fund and navigate the legal issues to make it happen.

Our view is that such an initiative wont happen under any Labour government not least because their ability to work with private finance is questionable.

It will be interesting to see if their is a change of government next year whether the Tories will take up the batton on this or whether they will kick it into the 'long grass' whilst they deal with other more pressing matters.

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