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The British Property Federation (BPF) announces it has submitted a Sector Deal proposal to government on behalf of the real estate industry. The announcement follows today’s publication of the government’s Industrial Strategy White Paper – and of the first three Sector Deals committing industry and government to achieving the Industrial Strategy’s ambition in partnership.
The real estate Sector Deal proposal sets out how the real estate industry underpins the UK’s economic and social wellbeing, and how it will be essential to the delivery of other Sector Deals including construction.
The proposal seeks a partnership with government where both sides are working together to maximise the real estate industry’s contribution to the economy, and to creating infrastructure and great places to live, work and relax across the country, by:
- Building capability and capacity – in particular, increasing the delivery of housing, and making sure real estate and construction have the skills they need for the future
- Targeting growth opportunities – driving local delivery through more effective partnerships and processes, including planning and procurement
- Future-proofing the industry – attracting investment, harnessing technological changes and responding to future challenges
Through partnership with government, the real estate industry hopes to deliver:
- £120bn of new investment in housing
- 500,000 additional homes by 2030
- A long-term strategy to ensure that good quality homes are accessible for all
- 50,000 new jobs in a diversified sector
- A £2.5m research programme to drive innovation
- More resilient construction and real estate sectors
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