There are now nearly 100,000 build to rent homes complete, under construction, or in planning across the UK, according to the British Property Federation.
Its research shows there are 95,918 build-to-rent homes in various stages of development, compared to 69,824 in the first quarter of 2017, a 37.4% increase.
The number of homes in planning has seen the biggest rise, from 54,507 to 78,917, a 44.8% jump.
London has the highest number of rental homes, with 54,978 in total and in some form of development, but the regions have the most under construction: 12,316 compared to 11,696 in London. The research has been produced by Savills.
The size of schemes has also rapidly increased, with 35% comprising more than 500 flats, against 245 in Q1.
BPF director of real estate policy Ian Fletche said: “Our data allows us to track build-to-rent’s growth across the UK, and ensures we are as transparent as possible when communicating the sector’s current and projected contribution to the country’s housing supply.
“Correcting the supply-demand imbalance in the UK is fundamental to addressing the housing crisis, and we have demonstrated that build-to-rent has much to offer,” said Fletcher.
“We are pleased by the mayor of London’s continued support of the sector and his recognition of its capacity to deliver much-needed homes. We look forward to the government’s formal response to the national Housing White Paper, which formally recognised build-to-rent in the National Planning Policy Framework.”
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