Build-to-rent delivers 61% of homes in key regeneration areas, research finds
BTR accounted for 87% of homes built in Stratford, London, and Redcliffe, Bristol, over the past decade, according to NRLA Living and Bidwells.
Build-to-rent (BTR) delivered an average of 61% of new homes across eight UK regeneration areas over the past decade, according to research from National Residential Landlords Association (NRLA) Living and Bidwells.
This was despite BTR accounting for less than 2% of the UK’s housing stock.
BTR accounted for 87% of homes built in Stratford, London, and Redcliffe, Bristol, over the past decade.
The figure was 73% in Milton Keynes Central and 66% in Blackhorse Lane, Waltham Forest.
Areas with more BTR homes also recorded higher population growth.
The sector attracted an average of five times more people aged 20 to 39 to regeneration areas than other local authority areas.
The research found BTR schemes brought residents into regeneration areas at an early stage and increased footfall for local businesses, including cafés, bars and restaurants.
Ben Beadle, CEO of the NRLA, said: “We believe that Build to Rent makes – and can continue to make – a valuable contribution to the UK’s supply of housing, alongside traditional buy to let (BTL).
“These research findings demonstrate that housing delivery can only happen at scale if the Government takes steps to ensure investment is encouraged rather than stifled.
“Crucially we believe that a thriving BTR market must complement a growing BTL sector if the UK is ever going to meet its ambitious housing objectives.”
Beadle added: “Without a bold vision which attaches an equal level of importance to both sectors, the Government will simply fail to solve the UK’s housing crisis.”
Iain Murray, partner and head of operational living at Bidwells, said: “Build to Rent is usually judged on the number of homes it delivers, but this research shows its impact runs wider than that.
“Across the schemes we examined, BTR has acted as the catalyst for regeneration, putting people on site early, giving local businesses the footfall they need to establish themselves and drawing younger working-age households into areas that had previously struggled to attract them.
“That evidence matters now because capital is being committed to operational living in a far more complex regulatory and fiscal environment than five years ago.”
Murray added: “Investment decisions of this scale should rest on data, and this report gives investors, local authorities and government a clearer basis on which to judge where BTR sits in the housing mix.”
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