Build To Rent may win a lot of publicity but it’s still largely unknown outside London according to new research.
BTR completions have increased by 19 per cent since the start of the pandemic. During Covid – specifically Q1 2020 to Q1 2022 inclusive – the UK has seen 28,065 BTR properties built.
London continues to dominate with a 35 per cent increase in BTR stock since the start of 2020. Across the capital, over 13,000 units have been completed over the last two years, versus just 9,716 in the same period prior to the outbreak of Covid-19.
Meanwhile, the rest of the UK has seen numbers rise from 13,873 to 14,942, an increase of just eight per cent.
London’s BTR market dominance means that the capital now accounts for 48 per cent of all completions, with the rest of the UK accounting for 52 per cent.
The research was conducted by a company called Help Me Fix, and its founder Etton Bazil says: “Although momentum has continued to grow across the Build To rent sector since the start of the pandemic, this is a trend that has been materialising for some years now.
“But while the nation’s rental market residents have long recognised the benefits of this tailored offering, it’s fair to say that the events of the past two years have certainly increased appetites for higher quality, well managed rental accommodation, providing the additional benefit of longer term certainty and security.
“Not only does this longer term solution provide greater security, but this blend between rental market flexibility and the managed approach of the new-build sector are increasing the quality of living within the rental sector.”