The Build-to-Rent boom is well underway, and we thought that you might like to know some promising stats that show just how important it is to the UK property market. So, without further ado, here are the essential stats that you need to know about the Build-to-Rent sector.
There are currently 150,000-plus Build-to-Rent developments either completed, under construction or with planning permission in the UK. And that number looks set to grow further as renters come to rely on homes designed exclusively for them.
The number of Build-to-Rent homes completed between the first quarter of 2019 and the same period in 2020 increased by an impressive 42%. The number grows even further when you take London out of the equation, with 58% completed Build-to-Rent communities in areas outside of the capital.
Thanks to Build-to-Rent, there is now more new housing in the pipeline than at any time since 2007. The sector has provided living spaces on large and empty sites, driving up housing registrations while proving to be one method for tackling the UK’s housing shortage.
Build-to-Rent is multiplying outside of London – especially in major cities like Manchester –but the capital is still the centre of the Build-to-Rent boom. It accounts for 52% of all Build-to-Rent communities in the UK.
By 2021, a quarter of the UK property market will be made up of private renters, as Generation Rent continues to grow. In London, the private rental sector is set to account for 60% of the housing market by 2025.
Movebubble has 700,00-plus verified renters using its platform, with many looking for Build-to-Rent communities where they can lay down routes. Movebubble One is a Build-to-Rent-specific feature that highlights the best communities in London and Manchester, as well as the neighbourhoods where they’re located.
The Build-to-Rent market is estimated to be worth a whopping £543 billion by the time it reaches maturity while providing more than 1.7 million homes in the UK. Currently, the market is worth £9.6 billion and growing rapidly.
As Build-to-Rent continues to grow, so too does the size of the buildings. The current average property size for Build-to-Rent communities in development is now just over 320 units. As confidence grows, larger, more ambitious buildings are coming onto the market.
The largest Build-to-Rent community in the UK is located in London and features an impressive 7,000-plus unit across its site. Located in Wembley, northwest London, Tipi Wembley is the largest project of its kind.
Outside of London, the current largest Build-to-Rent community is Clippers Quay, from Grainger. It has 614 units and is located in Salford, which is just a stone’s throw away from the city centre of Manchester.
Facts. No fiction
It’s a great time to be in the Build-to-Rent game, whether you’re an operator or renter. There are tons of perks, and renters are getting great-quality homes designed exclusively for them. These stats further underline Build-to-Rent’s importance to the UK housing market.