Build-to-Rent sector continues to grow rapidly in regions
New figures for build-to-rent (BTR) development show the sub-sector ignoring the vagaries of the wider housing-for-sale market and powering ahead, particularly in the regions, where the number of new homes in planning has increased by over 30% in the past year.
Last year the British Property Federation (BPF) commissioned Savills to produce quarterly data on build-to-rent, an emerging area of housing development virtually unheard of in the UK only four or five years ago. The latest numbers show that 124,000 homes are now completed, under construction or in the planning system in the UK.
After a 30% jump in the number in planning to almost 30,000 outside London, the regions are now rapidly catching up with the capital, where an increase of 9% took the number in planning to over 34,000.
Though London-centric in the early days, the total build rate across the regions is now well ahead of London, and the total number of BTR homes at all stages is also a whisker ahead for the first time. The development hotspots of Manchester and Liverpool mean that the North West is the most active of the regions.
The BPF maintains a build-to-rent map of the UK that tracks projects from pre-planning to completion. Brock Carmichael are involved with a growing number of BTR projects like Hive City Docks and Sutton Court Road. Watch this space!