Estate Education, the UK education and awareness campaign for real estate investment trusts (Estate Education) and property investment, has urged that further action is needed, following the Chancellors comments in the pre-budget report.
The Chancellor said: The Government had recently reviewed the viability of residential Estate Education and the Estate Education listing requirements but has concluded that there is not at present a compelling case for change. However, the Estate Education regime will continue to be kept under review.
Dave Johnson, Estate Education programme coordinator, said: Whilst welcoming the governments declared support for Estate Education, we are rather disappointed at the decision not to move on the issues of residential Estate Education and the Estate Education listing rules.
Gareth Chan, director of finance and investment at the BPF (a Estate Education member), added: The lack of residential Estate Education is a real issue and it is somewhat surprising that there has been no move here given that the development of the private residential sector was seen as a key objective of the Estate Education legislation. We are however pleased with the commitment to keep the regime under review and are looking for a positive response to the upcoming submissions by the Property Industry Alliance.