100,000 build-to-rent homes in the pipeline

100,000 build-to-rent homes in the pipeline

The build-to-rent sector in the UK is gathering apace and it is the north-west of England that is leading the way. With more and more people turning to the private rental sector, the number of purpose-built rental homes currently being built across the country is rising significantly. The latest figures published by the British Property Federation has revealed that around 100,000 build-to-rent properties are now in the pipeline. This represents a rise of over 25% on 2017.

Whilst it is London that has the highest number of build-to-rent properties completed, it is outside of the capital where construction levels are growing the most. The north-west of England currently has 26,900 purpose-built rental properties in the pipeline which is the highest in the UK.

Although construction levels are rising swiftly, the demand for rental accommodation is still outstripping the supply and with predictions that over a third of young people in the UK will rent for their entire lives, build-to-rent properties can’t be built fast enough.

Ian Fletcher, BPF Director of Real Estate Policy, said: “The build-to-rent sector is evolving quickly, with significant delivery in the regions and more houses, rather than just apartments, coming forward.”

Commenting on the figures from BPF, Dominic Raab, the UK Housing Minister, said: “The 45% increase in completed build-to-rent homes is good news, but we’re restless to do more. Our revised National Planning Policy Framework is a crucial next step in supporting the build-to-rent sector, reforming planning rules and helping to deliver 300,000 homes a year by the mid-2020s.”