The British Property Federation wants the next government to give special assistance to Build To Rent developers to allow them to reach a target of 30,000 new homes a year. 

The federation claims that there are now over 100,000 completed BTR homes and a further 160,000 in the pipeline, but it claims the UK still lags some way behind the US, Australia and other countries in delivering similar homes at scale. 

The BPF therefore wants special treatment for BTR, including a stamp duty exemption for new developments of more than 100 units to support valuations, de-risk development and create more liquidity in the market; a requirement for local authorities to include BTR in Local Plans; and help for BTR developers to raise debt with a government guarantee to support viability throughout market and economic cycles

The federation is also calling for subsidies for affordable housing to 145,000 homes per year, longer term rent settlements “to support security of income and viability”, and more encouragement for institutional investors and housing associations to participate in building affordable units.

The BPF also wants favourable local council treatment of Purpose-built student accommodation (PBSA) including the exemption of affordable student accommodation from CIL payments “to support delivery at lower price points”.

Ian Fletcher, policy director of the British Property Federation, adds: “The only way to tackle the housing emergency is to build more homes of all types and by delivering more affordable housing, market rental homes, student accommodation and older peoples’ housing we can relieve the pressure on overall housing supply. However, as it stands development across these sectors is restricted to 35,000 homes a year, when there is a need for at least 100,000. 

“Pension funds and other  sources of institutional capital are attracted to these sectors as they offer secure long-term income but the next Government must do more to give them the confidence to invest. Currently the planning system at both a national and local level does not provide enough clarity or support for a wide range of tenure-types, and there are a number of funding mechanisms Government can introduce that will help de-risk schemes and support delivery when economic and market conditions are more challenging.”