Propertymark has set out the support it believes the property sector needs in the short and long-term across all departments of the Government.
This suggested plan comes ahead the new Prime Minister’s first ‘mini-Budget’.
Timothy Douglas, head of policy and campaigns at Propertymark, said: “In the past year there have been four names over the door of the Department for Levelling Up, Housing and Communities and we’ve run out of fingers on which to count the number of housing ministers in recent years.
“We need a period of political stability across Westminster along with bold ideas to address our sector’s many live issues.”
The five-point plan calls for longer-term support for agencies with their energy bills, beyond the existing six-month package already announced.
It also hopes for a national strategy with financial incentives to help improve the energy efficiency of existing housing stock, as well as a 12-month exemption from the 3% additional Stamp Duty on purchases of buy-to-let properties.
Additionally, it calls for an increase in the supply of new housing through focussed targets, incentives to bring empty homes back to use, as well as a review of Local Housing Allowance rates to support tenants on low incomes.
Douglas added: “We have a Prime Minister who has committed to a programme of tax cuts and a new Secretary of State for Housing who has already acknowledged the need to build more homes, let’s see a clear […] plan of how they intend to turn those words into positive action to stimulate both markets.
“It’s also important to remember estate and letting agencies are businesses that make a significant contribution to the economy.
“They need support to ensure they remain viable, particularly in light of the high cost of energy and fuel and are left wondering whether a six-month energy price cap will be enough.”
