Build-to-rent construction on the up across the UK but especially London
There are currently 167,853 build-to-rent homes being constructed in the UK, an increase of 22% from the same period last year.
Within London there are 11% more build-to-rent developments, while outside there are 34% more in the planning, construction or completed phases.
Promisingly there are 46,221 new builds in the planning phase outside of the capital, a 52% increase from the same period of 2019.
Ian Fletcher, director of real estate policy, British Property Federation, said:
“Our research shows investor confidence in build-to-rent housing continues, with a greater commitment from the sector today to delivering new, high-quality rental homes across the UK compared to a year ago.
“The sector will play a key role in supporting the government’s ambitious plans to ‘level up’ the country’s regions and in building a shared recovery where more people across the country, whether they choose or need to rent, will have more choice of rental properties available to them.
“The build-to-rent sector’s growth will also aid the Prime Minister’s ambitions to ‘Build Build Build’, with valuable construction jobs being created in all parts of the UK, but this requires momentum behind converting planning applications to construction starts.
“These decisions however will be on a knife-edge for the next year, as risks rise and productivity remains low as a result of Covid-19, and so the government must ensure its does not take this much-needed new investment for granted, and both our planning and tax systems give confidence to investors to make decisions today for the long-term health of the UK housing market.”
There are currently 167,853 build-to-rent homes being constructed in the UK, an increase of 22% from the same period last year.
Within London there are 11% more build-to-rent developments, while outside there are 34% more.
Promisingly there are 46,221 new builds in the planning phase outside of the capital, a 52% increase from the same period of 2019.
Ian Fletcher, director of real estate policy, British Property Federation, said:
“Our research shows investor confidence in build-to-rent housing continues, with a greater commitment from the sector today to delivering new, high-quality rental homes across the UK compared to a year ago.
“The sector will play a key role in supporting the government’s ambitious plans to ‘level up’ the country’s regions and in building a shared recovery where more people across the country, whether they choose or need to rent, will have more choice of rental properties available to them.
“The build-to-rent sector’s growth will also aid the Prime Minister’s ambitions to ‘Build Build Build’, with valuable construction jobs being created in all parts of the UK, but this requires momentum behind converting planning applications to construction starts.
“These decisions however will be on a knife-edge for the next year, as risks rise and productivity remains low as a result of Covid-19, and so the government must ensure its does not take this much-needed new investment for granted, and both our planning and tax systems give confidence to investors to make decisions today for the long-term health of the UK housing market.”
Kindly shared by Property Wire
Main article photo courtesy of Pixabay
