According to a joint announcement, the “shared vision” is to create a singular voice for the property sector.

A shadow board comprising representatives from each of the three trade bodies has been established to oversee the next stage of discussions.

It is anticipated this shadow board will bring forward a formal proposal for members to consider in 2025.

Jessica Hardman, chair of the BPF (pictured above), said a motivation for this was to reflect how the property sector was changing.

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“Whether that’s the different way in which many of us run our businesses, or the impact of digitalisation, or the emergence and growth of new asset classes such as single-family housing, co-living, life sciences and data centres,” she said.

“The BPF board I chair believes we can go even further working with the boards of AREF and the IPF to deliver a new larger body building on the strengths of each individual organisation. I look forward to sharing further details with members over the next few months and hearing their views.”