London, one of the top global residential property markets, has a strong future build-to-rent homes with 38,648 units being completed or under construction or in planning, according to latest data released by British Property Federation (BPF), the trade association for UK residential and commercial real estate companies.
The demand for rental residential homes in London continues to rise, as more number of people opt to settle in the city, closer to their work place. In addition, many working professionals are opting for affordable rental accommodation in London, to save deposits for their future home. The BPF data shows that the capital city has 38,648 build-to-rent homes in various stages - either complete, under construction or in planning, as against 31,176 such homes in the regions.
Though London continues to maintain a strong pipeline of build-to-rent homes, the regions are outpacing the capital city on the number of such units currently under construction. As many as 10,244 build-to-rent homes are under construction in the regions as against 6,262 in London. At over 5,500 build-to-rent homes under construction, Manchester and Salford lead over London.
Overall, under the build-to-rent sector 70,000 new rented homes are complete or under construction or in planning in the UK. This data from BPF indicates that house-buyers see assured rental income from London.
New research published today by the British Property Federation (BPF) shows that the number of build to rent homes currently under construction across the UK’s regions is nearly double that to London.