Build to Rent

The construction of Built to Rent units increased by nearly 40% between 2017 and 2018.

According to research commission by the British Property Federation (BPF), equates to 43,374 build-to-rent homes under construction compared to 31,250 at the end of 2017.

The number of homes completed increased by 29 per cent between Q4 in 2017 and Q4 in 2018, from 22,762 to 29,416. Build-to-rent homes in for planning were recorded as 66,718 at the end of 2018, 10 per cent more than the 60,794 at the end of 2017. In planning statistics includes sites that have been identified for build-to-rent by local authorities and developers, which stands at 22,642.

In total, there are now 139,508 build-to-rent homes complete, under construction and in planning across the UK.

For the first time, the total number of completed build-to-rent homes across the UK regions has caught up with the total in London; 14,615 completed homes in the regions compared to 14,801 in the capital. In terms of construction, there are 24,010 home under construction in the regions compared to 19,304 in London.

The research was undertaken following the change in July 2018 to the National Planning Policy Framework (NPPF), which now clarifies that Build to Rent is a distinct asset class within the private rented sector. It has been defined within the glossary of the NPPF to simplify its treatment within the planning system. Planning guidance is clear that if a need is identified, authorities should include a plan policy setting out their approach to promoting and accommodating build to rent.