With the private rental sector set to grow to 22 percent by 2023, let’s look at the growth achieved in the Build to Rent (BTR) market in 2019.
The British Property Federation (BPF) reported a total of 152,071 BTR properties in the UK at the end of 2019. This figure includes BTR homes that are completed and those under construction and in planning.
Breakdown by development stages
There was a 15 percent rise in BTR properties since 2018, across all development stages:
- An increase from 30,312 to 40,181 for homes completed – a rise of 33 percent.
- Properties under construction increased from 34,744 to 36,415 units – a rise of 5 percent.
- A 13 percent rise in properties in the planning phase, increasing from 66,660 to 75,475 units.
The figures are positive, showing a demand for lifestyle-led living among renters. The ‘co’ concept is not new – there’s been growth in the ‘co’ model in work environments and second homes, and it continues to grow in the sub-sector of the private rental sector.
Top three BTR players in 2019
The top three players in the BTR market in 2019 represent a total of 21,278 BTR homes across all development stages. Combined, they have completed 6,366 BTR homes, have 3,216 under construction and 11,696 properties in the planning stage.
1. London & Quadrant
London & Quadrant was the biggest player in the BTR market in 2019. Operating across Greater London, the South East and East Anglia. They had 2,404 completed homes, 185 under construction and 4,643 in planning – totalling 7,232 BTR homes.
2. Sigma Capital
Offering a wider landscape of options to renters, Sigma Capital have shaken up BTR – building family homes instead of apartments in large developments. They had 2,150 completed homes, 1,749 under construction and 3,274 in the planning stage – totalling 7,173 BTR homes.
3. Get Living
Get Living, one of the initial companies that headed BTR are well known for their project at Olympic Park in Stratford. They had 1,812 completed homes, 1,282 under construction and 3,779 in planning – totalling 6,873 BTR homes.
Now we’re firmly into 2020, figures are set to grow as BTR players continue to ramp up development, both in key cities and regional locations.