RICS tells Tories - do more to improve supply of rental properties

The Royal Institution of Chartered Surveyors is launching its manifesto at this week’s Tory party conference - and improving the supply of rental properties is the first priority.

A stamp duty holiday for landlords and a “measured” introduction of the Renters Reform Bill are amongst specific recommendations.

RICS says the UK faces large-scale challenges ranging from climate change to a cost-of-living crisis, creating additional difficulties for a housing sector experiencing crucial supply shortages. 

“Endemic skills shortages undermine development in the industry while the workplace has become more fluid post-pandemic, with the built environment needing to reflect the change in workforce behaviour” it says.

And in a message it says it’s delivering to both the Conservative and Labour conferences, is claims: “It is RICS' duty to advocate policies that provide solutions to some of the most important challenges of our time. The RICS manifesto sets out a …  roadmap, which includes points focussed on creating safe, sustainable, and affordable homes for all, building safety, and future skills for a sustainable built environment, among many other important factors.”

Key points within the manifesto include:

- Increase supply of rented homes to meet demand and slow rent rises via a stamp duty holiday, clarity on energy efficiency targets and the ‘measured’ introduction of the Renters Reform Bill;

- Deliver a joined-up quality and sustainability strategy;

- Review skills shortages to tackle targets;

- Hit housing targets with a housing delivery strategy;

- Action the recommendations from the recent RICS Decarbonising UK Real Estate that call for reform to how building performance and EPCs are presented;

- Develop the much-needed National Fire Strategy as called on by industry to raise competency, standards and mitigation. This must include the UN-endorsed International Fire Safety Standards Common Principles.

RICS chief executive Justin Young says: "As a leading representative of the built and natural environment sectors in the UK and globally, RICS advocates policies with solutions to some of the most critical challenges of our time. 

“The public needs safe, sustainable, energy-efficient, and affordable homes; businesses need high-quality commercial spaces that align with the decentralised digital economy, while the industry needs a more robust pipeline of diverse talent that fulfils the skills demands of the sector so that it can deliver its goals.

"The RICS manifesto provides food for thought for the parties as they develop their policy platforms for the next General Election, and we look forward to engaging with their policy teams at the upcoming party conferences."