In an announcement, the trade body, which represents around 130,000 members, outlined several recommendations for the government to address the UK housing crisis, including reintorducing mutliple dwellings relief.

Labour has pledged to build 1.5 million homes over the next five years, with a significant proposition slated to be affordable and social housing.

RICS said to increase development in the build-to-rent sector Chancellor Rachel Reeves should reinstate multiple dwellings relief, which was abolished by her predecessor Jeremy Hunt in the Spring Budget.

The trade body said that the relief zero-rated bulk acquisitions, making purchases by build-to-rent investors more affordable.

“There is early evidence that the decision to abolish the policy is already slowing down investment at a time when the UK is in urgent need of more purpose-built rental accommodation to cater for Generation Rent,” RICS added.

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Another recommendations concerns electricity usage, with RICS saying that housing developments were increasingly “having to  compete for power against energy-hungry low-carbon technologies, data centres and transport networks”.

The trade body said that transmissions and distribution networks will require “significant upgrades”, and has outlined where government, Ofgem and other industry actors can “commit to expanding energy infrastructure, prioritising those areas where the Network Capacity Map is blocking future development of much needed homes”.

RICS is also suggesting the creation of a Built Environment Skills Taskforce to “map future labour needs to meet house building, retrofit and net zero need”.

It said that there was an “acute shortage of skilled labour” which was acting as a “significant block to development”. This was attributed to Brexit, a fall in apprenticeships and growing retirement rates.

The taskforce will include a review of early-years education engagement, with the possible introduction of a Built Environment GCSE in England, and an analysis of public sector skills retention and recruitment.

Simon Rawlinson, chair of the knowledge and practice committee at RICS, said: “Labour’s first week in power has demonstrated that the party is serious about its intention to get Britain building again.

“Having worked closely with numerous different administrations over the course of our 156-year history, we’re proud to present Keir Starmer and his team with workable and implementable solutions that should help speed up the development of much needed housing and nationally significant infrastructure, and ensure we have the skills base to do so.

“In their quest for growth, ministers must focus on pulling the right policy levers, and judging by the actions of policymakers over the course of the last week, the mood music seems very encouraging. We look forward to working closely with Labour in the coming weeks and years.”