{"id":15305,"date":"2018-04-17T16:15:01","date_gmt":"2018-04-17T15:15:01","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=15305"},"modified":"2018-04-17T16:15:01","modified_gmt":"2018-04-17T15:15:01","slug":"regions-catching-up-with-london-in-build-to-rent-construction","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-au\/news\/regions-catching-up-with-london-in-build-to-rent-construction\/","title":{"rendered":"Regions catching up with London in build-to-rent construction"},"content":{"rendered":"

Although London is currently the UK’s build-to-rent capital, partly due to its proportionately higher number of renters compared to owner-occupiers, the regions have begun to gain on the city with hotpots popping up across the country.<\/strong><\/p>\n

Since the government granted build-to-rent more emphasis in its national planning policy<\/a>, the sector has made huge gains and local authorities outside London have begun to open their doors<\/a> to more build-to-rent developments.<\/p>\n

Current hotspots include Manchester<\/a>, Liverpool<\/a> and Bristol<\/a> which all have huge numbers of build-to-rent units either completed, under construction or in the planning phase. The north-west<\/a> as a region had 29,600 such homes by the end of quarter one this year – the highest after London – followed by the south-east with 7,101, while the West Midlands<\/a> had 6,378, according to research by the British Property Federation (BPF).<\/p>\n

Development is on the rise across the UK<\/h4>\n

Across the country, construction numbers<\/a> in the sector have risen by an average of 30% in Q1 2018 compared to Q1 2017, with a 45% rise in the number of completed developments (from 14,371 to 20,863), a 47% jump in those under construction (from 53,982 to 63,955) and a 19% rise in the number in planning (from 90,761 to 117,893).<\/p>\n

London now holds 51% of the total UK market, with the other 49% held by the rest of the country’s regional cities combined, but the gap has been narrowing.<\/p>\n

“The development pipeline is growing strongly at both ends,” said Jacqui Daly, director in research at Savills.<\/p>\n

“At this rate of growth, we expect that the build-to-rent pipeline could double<\/a> to around 200,000 within the next two years.”<\/p><\/blockquote>\n

How build-to-rent is changing…<\/h4>\n

One of the benefits of investing in build-to-rent is that it provides a steady stream of rental income<\/a>, with some developers offering guaranteed rent for a limited amount of time after purchase, while longer contracts can also minimise void periods<\/a> and generate the best rental profits. While popular with institutional investors, individuals can also take advantage of the booming market<\/a>, and councils and housing associations are also getting involved.<\/p>\n

In the capital, London mayor Sadiq Khan recently set a target for 35% of developments to be affordable housing<\/a>, and developers offering this in the capital can be “fast-tracked” through the planning process.<\/p>\n

Across the UK, as the renting demographic changes from predominantly young people towards more families, the sector has come under pressure to create more family-friendly build-to-rent accommodation<\/a>. According to Savills, 17% of all the schemes in planning or under construction now consist of houses as well as flats, which appears to be addressing this issue.<\/p>\n","protected":false},"excerpt":{"rendered":"

Although London is currently the UK’s build-to-rent capital, partly due to its proportionately higher number of renters compared to owner-occupiers, the regions have begun to gain on the city with hotpots popping up across the country. Since the government granted build-to-rent more emphasis in its national planning policy, the sector has made huge gains and… Read more »<\/a><\/p>\n","protected":false},"author":1069,"featured_media":15324,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[8,61,4,12,42],"tags":[38,341],"class_list":["post-15305","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-alternative-investments","category-construction","category-investment","category-london","category-regeneration","tag-build-to-rent","tag-newsletter"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/posts\/15305","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/users\/1069"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/comments?post=15305"}],"version-history":[{"count":0,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/posts\/15305\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/media\/15324"}],"wp:attachment":[{"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/media?parent=15305"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/categories?post=15305"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/tags?post=15305"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}