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Regions double London's build-to-rent growth
There are almost double the number of build-to-rent units under construction in the regions than there are in London, with Greater Manchester leading the boom.
New research from the British Property Federation (BPF) shows 10,244 build-to-rent – purpose-built, professionally managed rented homes – under construction in the regions, with 6,262 in the capital.
However, London has a strong future pipeline with 36,648 either complete, under construction or in planning, compared with 31,176 in the regions.
Build-to-rent developers have previously said they planned to move increasingly into big regional cities, as it became harder for them to compete with for-sale developers in the capital.
Housing associations are among the biggest developers of build-to-rent properties.
Ian Fletcher, director of real estate policy at BPF, said: “The UK’s build-to-rent sector has reached a significant milestone today, proving for the first time that the sector is making its mark across the regions.
“While the government now better recognises that we need a housing sector firing on all cylinders across the UK, our data is a timely reminder of build-to-rent’s contribution to solving the housing crisis.”
