Despite the impact of the pandemic the number of completed build-to-rent homes increased by 23% in 2020, research published by the British Property Federation has revealed.
With 32,395 build-to-rent homes – complete, under construction or in planning – the North West has the largest number of build-to-rent homes outside of London.
In London there are 80,721 build-to-rent homes, an 8% rise year-on-year.
The research has been produced by Savills, commissioned by the BPF, and draws on Glenigan’s planning database and Molior in London.
Ian Fletcher, director of real estate policy, British Property Federation, said: “The build-to-rent sector has shown its resilience throughout 2020, with investors continuing to drive the sector’s growth across every region of the UK.
“The quantum of planning applications in London, however, is static – suggesting that the capital is having to compete more for investment.
“Throughout 2020, around one in five homes completed in London have been build-to-rent – in the regions this share is lower, despite the volume of build-to-rent homes in the regions now surpassing London.
“There remains a significant opportunity for the sector to increase its share of completions in our regional cities and towns, further supporting local housing supply ambitions, and this will include more suburban houses that families can call home.”
There are annual drops in the number of build-to-rent homes under construction in the North East (-38%), North West (-23%) and South West (-19%).
However there’s a number of homes being planned in these regions, suggesting a healthy future pipeline.
This post has originally been featured in Property Wire.