UK BTR to Increase Fivefold by 2032
October 25, 2022
Build-To-Rent (BTR) Sector Only Set To Grow
Research by the British Property Federation (BPF) and Savills has determined that the number of built-to-rent homes in the UK could increase by fivefold in the next ten years to 380,000.
They have estimated that the sector will be worth £170 billion by 2032 and that 8% of UK homes for rent will be purpose-built.
The research has also predicted that by 2032, single-family homes will make up 18% of BTR stock in comparison to 12% in 2022.
Savills also reported that between June 2021 and June 2022, build-to-rent has been earmarked for an extra 29 local authorities which indicates that 45% of authorities have BTR in their development pipelines.
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Savills have reported that England witnessed a decrease of approximately 25,000 new homes in the past year compared to the previous year. This decline in new home construction raises concerns about supply and demand.
Given that just over 8000 new senior living units were created in 2022, at the current rate there would be a shortfall of over 700,000 by 2040.
Rightmove’s data from Q1 2023 indicates the prevailing mismatch between supply and demand will continue in the UK due to the lack of expected new rental properties to come on the market.
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Since the coronavirus pandemic, activity within the Co Living sector has experienced a significant increase, more than doubling in size.
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In Q1 2023, investment in UK Build-to-Rent has surpassed £1.1 billion, indicating that investors are keen to explore opportunities in the sector due to the rising demand for rentals.
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The number of properties available to rent in the UK has dropped by a third over the past 18 months. The BBC have reported that people are finding it difficult to find a rental property due to huge demand and competition with other property searchers.
