30 Oct

Property industry calls for tax changes

Property industry calls for tax changes

Changes to tax rules are needed to help encourage more built to rent developments, claims a key industry body.

The latest figures from the British Property Federation (BPF) show there has been a 200 per cent increase in developments being granted planning permission, under construction and completed over the past year.

It is also hoped that the government will look at introducing clearer national planning policy to help encourage more build to rent developments, especially if space standards are increased.

“The build to rent sector has been one of the good news stories of the housing market over the past few years and it is great to see quality rental homes now coming on to the market at scale,” explained Melanie Leech, chief executive of the BPF.

She added: “The truth is the sector could be delivering so much more, however, if it can find the opportunities and maintain confidence to invest. The Brexit negotiation period provides a window of opportunity to channel even further investment into this form of housing supply.

“The sector was kick started a few years ago with support from government and further modest planning and stamp duty changes we believe could firmly send it into overdrive.”ADNFCR-1222-ID-801827555-ADNFCR

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