Government to release 50,000 homes for rental

The Government has approved a plan to release around 50,000 homes to rent in an effort to reign in spiralling housing costs.

It’s understood the properties are all owned by SAREB, which was set up in 2012 to absorb bad debts during the financial crisis in 2008.

Last year a 2% cap on rental price rises was introduced after rental prices soared due to inflation.

It’s hoped the new properties will become available in the coming months.

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