A record number of local authorities have Build-to-Rent in housing pipelines
New research from the British Property Federation shows the total number of Build-to-Rent (BTR) homes in the UK has increased 13% on an annual basis between Q2 2021 and Q2 2022, writes Dominik Neyerlin, a Chartered Surveyor at Wimbledon based Scrivener Tibbatts.
More local authorities embracing BTR as part of housing supply, with 45% of councils having homes in the pipeline vs 37% at Q2 2021.
The total number of homes completed, under construction or in planning up 13% year-on-year to 237,000 and a record number of local authorities having BTR in their housing pipeline.
Their analysis, conducted at the end of the second quarter in collaboration with Savills, showed a 16% increase in the number of completed homes to 73,739, with a 13% increase in units under construction (to 47,764) and 10% increase in units in planning (to 115,859) suggesting the growth of the sector will be sustained.
The report also highlights the expansion of the BTR sector across the UK, with the total number of homes completed or in the pipeline in regional cities up 16% y-o-y versus 8% in London, with a record 45% of local authorities now including BTR homes in their future housing supply, up from 37% in 2021 and just 20% in 2017.
The research also highlights how BTR delivery is evolving, with Single Family BTR the fastest-growing sub-sector over the past 12 months with a 44% increase in the number of units in the pipeline (to 21,000).
Ian Fletcher, Director of Real Estate Policy, British Property Federation comments: “We can see a broader spread and increased presence of BTR across the country, with more local authorities including it in Local Plans and considering it a vital component of future housing supply. This shows the market maturing beyond London and major regional city centres to towns and suburban locations and BTR becoming very much part of a more diverse and futureproof UK housing market.
“At the inception of the BTR sector in 2012, the intention was that it should become a nationwide phenomenon, adding to supply and providing a quality rental offer across the country. It is pleasing to say a decade later that hope has become the reality.”
If you would like to discuss something related to a property valuation or a party wall matter please contact Dominik Neyerlin direct via email at Dom@scrivenertibbatts.co.uk or call 020 8971 2987. We have lots of freely available on our Services section of the website.
