There are now 124,037 build-to-rent homes complete, under construction and in planning across the UK as regional starts have overtaken London to boost totals.
According to research from the BPF and Savills, 62,016 units have been identified in London, against 62,021 regionally.
One year ago, build-to-rent in the regions made up 45% of the UK’s total.
London remains popular with investors, but the price of land and the planning process encouraged many developers to start to look regionally around four years ago.
However, more recently there have been signs of a reversal of these trends as regional markets become increasingly expensive and new opportunities emerge in the capital along with dwindling housebuilder competition.
This research also shows developers are increasingly finding scale for schemes.
While there are only two completed developments with more than 500 homes each, there are 25 developments in planning and 12 under construction with more than 500 homes.
The BPF says the sector has much to offer in terms of encouraging faster build out.
Ian Fletcher, director of real estate policy at BPF, said: “Sir Oliver Letwin’s Review published last month was right to identify that the homes-for-sale model is undoubtedly restricted by the rate of sale.
“This is unlikely to change any time soon. Build-to-rent breaks this link. Investors in build-to-rent are keen to develop quicker and at higher density, and the sector has much to offer to accelerate housing delivery on large, urban strategic sites.”
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