Build-to-Rent units leapt by a third last year as sector goes national
The number of new Build-to-Rent (BTR) units completed last year grew by nearly a third to 30,000 and is no longer just a London phenomenon, research by Savills has revealed.
In total there are currently 43,400 BTR units under construction in the UK, a nearly 40% increase compared to 12 months ago.
Savills says the key regional BTR hubs are in Birmingham, Leeds and Manchester and that frenzied activity within them will push the number of new BTR units under construction in the regions this year to 24,000, some 5,000 more than in London.
In Salford in Manchester BTR now represents 7% of all housing stock.
“This rapid growth highlights the momentum of the sector which continues to attract significant investment from both overseas and domestic institutional investors,” says Guy Whittaker, Savills’ residential Research Analyst.
Source: The Negotiator
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