British Property Federation outlines ambitious goals for housing growth and investment
The British Property Federation (BPF) is urging the incoming government to significantly boost investment in affordable housing, proposing up to £14 billion in additional funding to deliver 145,000 new homes annually. Central to their call is the construction of 30,000 new build-to-rent properties per year, as outlined in their pre-election manifesto.
Melanie Leech, chief executive of the BPF, emphasised that the upcoming election marks a critical moment for setting and delivering a compelling vision for the future. “The next government must not only present a bold strategy but also gain public confidence in its ability to follow through,” she stated.
The BPF argues that collaboration with the property sector could unlock up to £10 billion in private capital, leveraging increased government subsidies to drive the development of affordable housing. The manifesto also highlights the need for investment in infrastructure, revitalising town centres, and addressing the urgent challenge of decarbonisation.
The government, meanwhile, remains committed to its current £11.5 billion Affordable Homes Programme, aiming to deliver tens of thousands of properties across the UK, as confirmed by a spokesperson from the Department for Levelling Up, Housing & Communities. Reforms to the planning system are also underway, with ambitions to complete one million homes within this Parliament.
Additional recommendations from the BPF include strengthening town centres, supporting greener building practices, and reforming business rates to aid developers. This comprehensive approach seeks to address the country’s pressing housing and infrastructure needs while driving economic growth and sustainability.
