There are nearly twice as many build-to-rent homes under construction in the regions as there are in London, data from the British Property Federation has shown.
Some 6,262 homes are under construction in the capital, compared with 10,244 in the regions, which the BPF said is the first sign of momentum in the sector outside of London.
In the long-term, however, London is still the focus of build-to-rent development, with 38,648 homes complete, under construction or in planning – more than 7,000 more than the total in the regions. Similarly, more than 58% of all planned build-to-rent homes are in the capital.
The data also showed that the size of build-to-rent schemes is growing, with only 11% of developments in planning comprising 100 or fewer homes, compared with 58% of completed developments. Meanwhile, 62% of schemes with 250-500 homes and 67% of schemes with 500-1,000 homes are in planning.
Ian Fletcher, director of real estate policy at the BPF, said: “The UK’s build-to-rent sector has reached a significant milestone, proving for the first time the sector is making its mark across the regions.
“While the government now better recognises that we need a housing sector firing on all cylinders across the UK, our data is a timely reminder of build-to-rent’s contribution to solving the housing crisis.
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