The findings, shared exclusively with Property Week, revealed that the number of homes being built or in planning increased from 54,547 to 67,725 – a 19.8% jump. Some 2,648 homes also completed during the quarter, representing more than 15% of the total number of BTR homes ever built.
Data from Q1 published in April showed that the geographical spread of developments was widening, with the regions accounting for nearly two-thirds of BTR homes under construction. But in Q2, the gap between the regions and the capital narrowed. There were still more homes being built in the regions but London accounted for 46% of those being built, up from 38% in Q1.
Looking further ahead, the number of homes in planning remains significantly higher in London. There are currently 27,480 homes in planning in the capital compared with 19,627 in the regions.
The research also showed a continuing trend towards larger-scale developments. Most completed sites – 75 out of 128 – comprise fewer than 100 homes. But only 34 of the 236 schemes in planning or under construction provide fewer than 100.
Ian Fletcher, director of real estate policy at the British Property Federation, said that he thought BTR could meet a quarter of the current housing shortfall in the UK.
“During the election campaign, all parties recognised the need to increase housing supply," Fletcher said. "That ambition will be met only through a multi-tenure approach, and we estimate build-to-rent could help the new government to meet a quarter of its housing shortfall.
“Our industry has plenty of funds to invest in this sector with the right support, so we welcome the government's ambitions to maintain momentum behind the housing white paper.”
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