British Property Federation: SDLT change will hit Build-to-Rent sector and hinder housing market efficiency

The British Property Federation, the voice of the UK property sector, has reacted to today’s Spring Budget announcement.

Melanie Leech, Chief Executive, British Property Federation, said:

“There’s little in today’s Budget for the property sector to cheer about. Further devolution deals are welcome as are the announcements of support for delivering more homes in a small number of places, but this falls far short of a bold strategy for delivering the homes needed across the country.

“Abolishing SDLT multiple dwellings relief will hit the build-to-rent sector at a time when the Government should be doing everything in its power to encourage more long-term investment into professionally managed rental homes. This will hinder rather than stimulate the efficiency of the housing market.”