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.
One of the UK’s largest private landlords has been ordered to pay £16 million towards the cost of fixing cladding-related fire safety problems at a group of five residential towers in London.
Up to one million new rental homes will be needed to accommodate growing demand by 2031, particularly from young families, across England and Wales.
A continued imbalance between supply and demand is set to grow rents by 6% next year, before hitting an affordability ceiling that will limit growth until 2028.
Two-month notice periods for tenants under periodic tenancies will negatively impact the build-to-rent sector and encourage sub-letting homes as party flats, the boss of big BTR firm Grainger has told MPs.