The decision from retailer John Lewis not to invest in build-to-rent should be seen as a sign that the government should relax taxation rules across the sector.<\/p>\n
That is according to Jeremy Leaf, north London estate agent and a former RICS residential chairman, who was writing ahead of today\u2019s Spring Statement.<\/p>\n
The John Lewis Partnership pulled out of a \u00a3500m deal to build almost 1,000 residential rental homes for rent in Bromley, Reading and West Ealing, citing a \u201ccautious property market\u201d.<\/p>\n
Leaf said: \u201cIn light of the exit by John Lewis from Build to Rent, the government may want to consider relaxing taxation rules in the sector to support specialist providers and their investors in this vital area.\u201d<\/p>\n
Running a build-to-rent block has significant costs involved, especially as stamp duty Multiple Dwellings Relief was abolished in June 2024.<\/p>\n
\t <\/p>\n
Leaf broadly encouraged the government to think about first-time buyers in its policy making, which he dubbed \u201cthe engine room of the housing market.<\/p>\n
He added: \u201cBetter use of existing resources e.g. refurbishment, conversion of un- and under-used land and buildings, including empties, is also essential.<\/p>\n
\u201cLittle demand means reduced or no\u00a0supply but building homes is not currently financially viable in many areas.<\/p>\n
\u201cGovernments do not often appreciate the\u00a0time and money disconnect\u00a0so many schemes are delayed or not built at all if, for instance, funding is lost.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
The decision from retailer John Lewis not to invest in build-to-rent should be seen as a sign that the government should relax taxation rules across the sector. That is according to Jeremy Leaf, north London estate agent and a former RICS residential chairman, who was writing ahead of today\u2019s Spring Statement. The John Lewis Partnership […]<\/p>\n","protected":false},"author":1,"featured_media":8941,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-8940","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-second-home"],"yoast_head":"\n