John Lewis has finally received the green light to begin its transformation into a build-to-rent landlord after Bromley Council approved its plans for 353 rental homes.
Exceptional growth in the build-to-rent (BTR) sector has pushed completions to a record high during the past 12 months.
Polling by build-to-rent (BTR) landlord UNCLE shows that 32% of those it polled who were between 18 and 24 years old said they ‘chose to rent’ rather than being compelled to by the housing market, while the figure was 31% for those between 25 and 34 years old.
Housebuilder Berkeley has announced its ambition to become a big player in the build-to-rent market amid sluggish demand from buyers.
The British Property Federation has called on the next government to set a bold target of 30,000 new build-to-rent homes a year.
John Lewis has urged future governments to develop a clear national strategy around the need for build-to-rent developments.
Private landlords face a significant increase in competition from corporate operators within the rented sector as investors reveal a £17 billion, 60,000-home building programme concentrated on the South and Midlands.
The private rented sector is forecast to lose half a million homes during the next decade, leaving a large supply gap that can be filled by the build-to-rent sector, it has been claimed.
Build-to-rent (BTR) continues its seemingly unstoppable march across UK cities, with the British Property Federation reporting that 58,000 homes had detailed planning permission in Q4 2023, the highest number on record.
