According to recently published research by the British Property Federation (BPF), the number of build-to-rent homes being built across Britain has gone up by close to 40%.
The data arrives in the wake of a new government housing policy that includes a revisited National Planning Policy Framework that guides local authorities when processing applications for build-to-rent homes.
139,508 build-to-rent homes have been completed, are under construction, or are in the planning stages, which is 22% over the year before. The number of homes completed has gone up by 29% while those in planning have increased by 10%.
The number of completed build-to-rent properties across Britain (14,615 ) has, for the first time, caught up with London’s total of 14,801.
Developments in the UK regions continue to be approved more quickly, with 24,010 properties under construction and 19,304 in the capital.
The research has also examined the capacity of strategic sites across the UK earmarked for build-to-rent. 22,642 homes have been identified by developers and local authorities for building on these sites.
In London, 30% of build-to-rent homes have been completed through Permitted Development Rights (PDR), but PDR constitutes less of London’s future pipeline with only 9% currently in planning and under construction.