Millions of pounds are being sought by Leeds City Region chiefs from a Government pot aimed at providing more homes for rent to stimulate the economy.

A bid has been made for cash through the Homes and Communities Agency’s £200 million Build to Rent Fund.

The Leeds City Region Board has been warned a shortage of suitable and affordable housing, particularly for the 18 to 35 age group, could cause serious economic damage as many people are priced out of the owner-occupier market.

A report to the board states: “There are an increasing number of economically active individuals and households unable to find suitable accommodation.”

Councillor David Green, leader of Bradford Council, and chairman of the city region’s housing and regeneration board, said if the bid was successful the funds could be used to help get dormant housing schemes going in Bradford.

“It could help kickstart some schemes in the Bradford district,” he said.