The British Property Federation (BPF) has urged councils not to wait for a Government green paper and to promote build-to-let now.

The BPF has welcomed the news of the green paper but also said that councils already have the power to promote the build-to-let sector and that waiting for the green pay and following legislation could ‘take years to come through’.

The BPF is pushing for councils to make section 106 agreements less restrictive for the build-to-let sector. Section 106s, are agreements between councils and property developers where a certain level of affordable housing must be built. The BPF argues that by their nature build-to-let offers ‘affordable’ housing and therefore the same level of restrictions need not apply.

Ian Fletcher, director of residential policy at the BPF said: “The public needs assistance now, and any green paper cum legislation will take years to come through. Local councils already have the powers to treat developments built for let differently, and to reduce the level of S106s they have to pay. Councils can already recognise the fact that build-to-let is a form of affordable housing, and we hope that more of them can make use of this great opportunity to increase the supply of quality, professionally managed housing.”

The call from the BPF comes in the wake of recent announcements, that due to the credit crunch, house builders will be slowing or postponing new developments and that the rental market is to continue expanding as first time buyers remain unable to get on the property ladder.