Rescinding the tax on empty commercial properties and selling off public sector assets would be welcomed in the comprehensive spending review, according to one of the city’s leading property professionals.

Ian Stringer, regional senior director of GVA Grimley’s Birmingham office, said there were four areas that could help stimulate the flagging property sector.

He welcomed a proposal for a New Homes Bonus for local authorities, which would see the Government match the council tax revenue collected when new homes are occupied for the first six years and felt that a possible sell-off of public sector assets to fuel economic growth, through joint ventures between the public and private sector, could have some success.

He added: “Allied with that, it would be very helpful if conclusions were reached on potential changes with overall planning system. Eric Pickles is currently looking at ways of improving the planning system and that would be very welcomed by the development industry. 

“The property market is also hopeful that the Government will seek to reduce ‘red tape’ and streamline processes going forward. Making sustainable development more affordable is a key issue in these difficult times.

“The fourth thing is very specific and that is to reinstate Empty Rates Relief, which is something you will have heard many times over from the British Property Federation and the entire industry at large since the Empty Rates Act 2007 was passed.”