Welcome to the BPF’s one-stop shop, setting out our industry’s offer to the new Government, as well as other information about our priorities and political engagement.
The election is an opportunity for the property industry to reset our relationship with Government. The Labour Party has put economic growth, planning reform, housebuilding and net zero as key priorities for the next five years, and these echo the four pillars that we set out in our manifesto, and which were expanded on in our five sector-specific manifestos (all published below).
Our industry has the experience, capacity and capital to support delivery of these policy objectives, and want to work with national, regional and local government to deliver them. We will be working with the new Government and with political and other stakeholders across the spectrum to achieve this.
The BPF General Election Manifesto
The British Property Federation's General Election manifesto 'Building our Future' sets out the property industry’s offer to the new Government.
Summary: We are the Government’s key partner investing to improve people’s lives. We invest hundreds of billions of pounds each year to rebuild and renew the UK’s buildings and public spaces – representing 7% of the country’s economy. Much of this money comes from the funds who manage our pensions and savings or insure our homes and belongings whether here in the UK or overseas.
With the right policy and regulatory framework we can do much more: invest more of our money in the priorities that matter to local communities, create more wealth and also deliver safer, healthier, places for people to live, work and relax.
Building our Future: The four pillars at a glance
Our manifesto asks the Government to set a clear strategy and the right policy and regulatory framework across four pillars. Explore them in brief below, or get the full details here.
The UK property industry contributes more than £137.5bn a year to the economy, supporting 1 in every 12 jobs. Our industrial and logistics facilities are part of the UK’s critical infrastructure. We can do much more and support the growth and improved productivity of other sectors if the next Government works with us to:
- Reform and better resource the planning system to meet the growing need for logistics capacity, accelerate the delivery of homes and jobs, and to meet climate change obligations.
- Promote the UK as a global investment destination.
- Ensure world class facilities to support high growth sectors such as SciTech.
- Maintain and enhance the UK’s leadership position in PropTech.
- Champion public / private sector partnerships to deliver projects on time and within budget.
The major source of new capital for delivering more homes is long-term investment such as pensions and savings funds. A partnership with the next Government would provide long-term confidence to investors, drive the delivery of high quality build-to-rent homes and unlock capital to build more affordable housing and fit-for-purpose homes for older people, releasing family homes back into the market.
- Set a target of at least 30,000 build-to-rent homes per annum.
- Stimulate the delivery of 145,000 new affordable homes a year through increasing subsidy levels by £9bn-£14bn.
- Require local plans to assess the need for older people’s housing.
- Support the professionalisation of the rental sector recommended by Lord Best.
Reinvigorating our high streets and town centres is a complex challenge requiring many actors to work together in an unprecedented way. It can’t be delivered solely with investment from the property industry, so national government must also set the right framework and support local authorities. The next Government should unlock local action and investment by:
- Enacting Town Centre Investment Zones and Community Improvement Districts.
- Updating the Landlord & Tenant Act 1954 so commercial property can be occupied easily, quickly and affordably.
- Building resource centrally and supporting local and regional authorities.
- Reducing and reforming the business rates system to a fair and sustainable level which is less burdensome and rapidly responsive to the local economy.
Buildings account for around 25% of all UK carbon emissions. We ask the next Government to partner with us to support the property industry with its net-zero transition and to maximise its role in building a green economy by:
- Providing a stable policy framework with clear milestones.
- Ensuring the tax system encourages the improvement of building energy efficiency and retrofit.
- Supporting renewable energy generation, including improving the capacity of, and speeding up connections with, the National Grid to cater for new communities.
- Unlocking investment by Real Estate Investment Trusts (REITs) and other property owners in Renewables and other innovative technologies.
Sector Manifestos
Adding more detail to our overarching general election manifesto, we published five sector-specific manifestos focusing on retail, logistics, housing, sustainability and planning. Find out more below.
Building Destinations, Supporting Communities
The BPF manifesto for Retail Property
This manifesto is produced by the British Property Federation Retail Board - major owners, investors and managers of retail properties who are passionate about improving town centres and communities.
Our vision
Our vision is for vibrant, mixed use town centres, high streets and retail parks that support economic growth and foster local pride.
This vision needs the right policy framework in place – one that supports strong local partnerships and facilitates investment.
Our recommendations cover four policy areas:
- Attracting private sector investment;
- Business rates;
- Promoting sustainability; and
- Leasing arrangements.
Building the UK’s Critical Infrastructure
The BPF manifesto for Logistics
This manifesto is produced by the British Property Federation’s Industrial Committee and Logistics Property Board.
Our offer
The UK’s industrial and logistics businesses build own and manage the critical logistics space and infrastructure that keeps the UK running. We want to work with Government to create a policy environment that enables the logistics property sector to unlock investment, create jobs and deliver growth, embrace innovation, and support the country’s drive towards net zero.
This manifesto sets out eight recommendations for achieving this across three areas:
- Plan-making;
- Decision-taking; and
- Delivery.
Building for Generations
The BPF manifesto for unlocking investment into Housing
This manifesto has been produced by the BPF's Affordable Housing and Residential Committees, comprised of housing associations, pension funds, build-to-rent and other specialist providers of housing in the UK.
Our offer
Our offer to the next Government is to deliver a step change in output of homes across a range of tenures:
- Affordable housing;
- Purpose-built student accommodation (PBSA);
- High-quality build-to-rent (BtR) homes; and
- Fit-for-purpose homes for older people.
Increased delivery of the above would in turn release existing homes back into the for-sale and rental market and so represent genuinely additional new supply, enabling the industry to play a fuller part in addressing the UK's housing crisis.
Building More, Building Better
The BPF manifesto for Planning
This manifesto has been produced by the BPF’s Planning Committee.
Our vision
BPF members include long term investors such as pension funds, who invest our money for long term returns that fund our later years. We thus have a driving passion to see a planning system that functions quickly, efficiently and with certainty; which in turn delivers the places that make the country more productive and sustainable.
This manifesto makes recommendations on four areas:
- Strategic planning to drive growth in the right locations;
- Creating stability by allowing the local plan system to bed in;
- Public and private investment in the planning system; and
- Planning obligations
Building a Sustainable Future
The BPF manifesto for Carbon
This manifesto has been produced by members of our Sustainability Committee, which comprises some of the UK’s biggest investors, owners and managers of property, as well as real estate experts and advisors.
Our offer
BPF members have hundreds of billions of pounds of assets, and hundreds of millions of square feet of real estate space, under management. We can make a significant contribution to tackling climate change and decarbonising our economy, creating tens of thousands of jobs, cutting bills for tenants and attracting global investment.
Our recommendations on how Government can help us do this cover five themes:
- Delivering policy and regulatory certainty;
- Financing the transition;
- Closing the data deficit;
- Transforming the UK’s electricity grid; and
- Reforming the planning system.
Budget representations
Following our Building our Future campaign, we have submitted our BPF Autumn Budget Representations outlining how the UK property sector can work with Government to make a significant contribution to national growth. Read more below more below.
Our BPF Autumn Budget Representations highlight how the UK property industry can work with Government across four themes:
- Building new homes, employment space and critical infrastructure;
- revitalising our town centres and retail destinations;
- decarbonising our buildings; and
- embracing technology and utilising data.
Analysis and Summaries of Party Manifestos for the 2024 General Election