A new election manifesto launched by the British Property Federation (BPF) has urged any future government to embrace and support the £1 trillion real estate industry’s contribution to the UK.

Manifesto 2015: A Vision for British Property not only sets out what needs to be done but also acts as a guide to real estate for MPs.

The manifesto’s aims

The BPF says the real estate sector can help provide a healthy economic and social infrastructure in the UK by working with local communities to create places where people can live and work.

Key aims in the manifesto include boosting economic growth, regenerating high streets and tackling the housing crisis.

The manifesto is urging MPs and politicians to:

• Review the business rates system
• Reform the Community Infrastructure Levy to support development
• Reform council tax for a fairer system
• Devolve powers to local leaders
• Encourage local authorities to support a professional private rented sector

Melanie Leech, Chief Executive of the BPF says the UK needs more modern spaces for businesses and regenerated towns and cities to strengthen the UK’s global competitiveness.

Stephanie McMahon, Head of Research at Strutt & Parker, said: “The contribution of the construction industry to the UK economy is well documented. Through our research we know that there are emerging “tribes” in the UK residential sector who require different types of housing.

"That may be urban or edge of urban Platinum Places to satisfy “lock up and leave” baby boomers, or  higher density, well specified, well located and professionally managed private rented for Glomads and those unable to purchase.

"There is no doubt that economically viable centres which have significantly diminished retail demand due to the internet have an opportunity to meet some of the needs of the housing agenda.”

Essential to modern life

The manifesto outlines the many ways in which the sector is building on its successes and strengthening the UK’s future.

For example, it says that the UK’s real estate investment sector is not only the largest in Europe but also generates around £330,000 value added per employee – almost 8 times the average for the UK economy.

For every £1 spent on construction in the UK, £2.09 is created for the economy.

The manifesto also sets out the plans for a partnership between government and the industry that would provide an environment in which real estate can thrive.

Bill Hughes, President of the BPF says the sector now holds a pivotal role in the UK economy’s future health as a driver of growth, productivity and employment.

He is now urging the next generation of politicians who are elected in May to recognise these issues and help the industry deliver the necessary and crucial investment into the UK.