The number of build-to-rent homes under construction across the UK has increased by nearly 40 per cent, according to the latest research by the British Property Federation (BPF).
There are now 139,508 build-to-rent homes in the UK, of which 29,416 are complete, 43,374 under construction and 66,718 in planning, an increase of 22 per cent over the last year.
For the first time, the total number of completed build-to-rent homes across the UK regions has caught up with London, with 14,615 completed homes in the regions and 14,801 in the capital.
Ian Fletcher, Director of Real Estate Policy, British Property Federation said: “With the revised National Planning Policy Framework, asking local authorities to identify how many new rental homes their respective areas need, the future should remain bright for build-to-rent.”
Jacqui Daly, Director at Savills residential investment research and strategy, adds: “It’s no surprise that permitted development accounts for such a large share of completed schemes because it has provided an easy springboard for build to rent.”