Date Published 20 April 2018
According to the BPF (British Property Federation) there has been a relative boom in the number of completed build-to-rent homes, under construction and being planned.
The Federation`s has completed its first annual data gathering on the build-to-rent sector which shows the build to rent activity increased by 30% in 2017.
There are now 117,893 build-to-rent homes in the UK, which are built, under constriction or being planned, whereas in 2017`s first three months there were 90,761.
The total number of built to rent homes completed is 45% higher - 20,863 - than 2017`s Q1 completed builds of 14,371; there is also a higher increase of 47% in build to rent homes being built.
The research now includes the numbers of new build to rent `in planning`, and identifies the strategic sites across the UK.
17,578 new builds under the scheme have been planned for delivery by local authorities and developers on these sites.
Throughout London and the regions the number of build to rent homes has rocketed.
Because of development restrictions it has given the regions a distinct advantage as they have 62% more developments than the capital.
Ian Fletcher, Director of Real Estate Policy, BPF, said: `The build-to-rent sector is evolving quickly, with significant delivery in the regions and more houses, rather than just apartments, coming forward.
`Policy is also adapting, as to date the sector has grown without a planning blueprint. This is now changing. With the draft revised National Planning Policy Framework, local authorities will now have to specifically identify how many new rental homes their respective areas need. This has never before been enshrined in UK planning policy.
`Clearly, there are exemplar local authorities across the UK leading the charge, giving build-to-rent a chance to expand in the regions and demonstrate that it can cater for a wider range of people. The sector, however, has significant potential to deliver more professionally-managed homes for all renters seeking higher quality service and facilities.`