New figures reveal that the total number of newly completed build-to-rent homes across the UK, excluding London, increased by over 50% last year.
Research by the British Property Federation (BPF) shows that at the end of Q4 2018, the sector had completed 13,312 new homes across the UK’s regions.
This figure jumped to 20,120 by the end of Q4 2019.
Over the same period, the sector completed 3,061 new homes in London – from 17,000 to 20,061 – an increase of 18%.
For the first time, the total number of newly completed build-to-rent homes – high-quality and professionally-managed homes built for renters – across the UK regions has surpassed the total in London.
London, however, retains its lead over the regions with more build-to-rent homes at varying stages of development.
Ian Fletcher, director of Real Estate Policy at BPF, comments: ‘Build-to-rent is well-liked by tenants and is proving popular with many local authorities. It has truly gone nationwide now, with homes being delivered across the country.
‘As the Government remains committed to delivering 300,000 homes, the sector is making a significant contribution to supply, regeneration and placemaking, with the average size of planned build-to rent-developments almost 200 homes higher than those that are complete, according to our figures.’
