Letting agents say market must grow

News Category: Industry News

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Letting agents have called on the government not to restrict the growth of the private rental sector.

According to a survey by Arla, 58 per cent of letting agents believe the government's approach to the expansion of the sector is the key factor affecting the property market this year.

Ian Potter, operations manager at Arla, explained letting agents want the tax regime to be amended so landlords are seen as businesses.

"Afford them the taxation criteria which will incentivise the improvement of stock and therefore the conditions which tenants live in," he said.

Other recommendations from Arla include the abolition of VAT when purchasing materials to carry out improvement works on older properties.

This coincides with calls from the National Landlords Association (NLA) for the chancellor Alistair Darling to encourage investment in privately rented accommodation in this week's Budget.

David Salusbury, chairman of the NLA, said that if the chancellor makes investing in property easier the housing shortage may be alleviated.

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