Multiple dwellings relief, or MDR, was a bulk purchase relief in the Stamp Duty Land Tax regime in England and Northern Ireland that was scrapped in 2024.

BPF has calculated the abolition of MDR has directly stalled or hampered the delivery of up to 25,000 Build to Rent (BTR) homes by making them unviable.

As such, the group claims this wiped an estimated £4bn off portfolios in the BTR sector.

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If MDR was to be reinstated, the BPF has argued this would cost the government £155m but help generate wider economic activity and tax revenues of £650m.

Melanie Leech, CEO at the BPF, is now urging the chancellor to use the Spring Statement to do so and not to wait until the Autumn Budget.

“An extremely cost-effective way of unlocking viability and enabling stalled housing to proceed to construction would be through the reinstatement of targeted MDR,” said Melanie.

“Given the combination of fiscal pressures and low housing numbers the government is facing, this is a simple lever to pull that would help address the viability crisis and increase Treasury returns.”