Traditional landlords in the Midlands face growing competition as the region looks set to witness a big expansion in the build-to-rent sector.
Birmingham led the way nationally in 2021, according to JLL, which reports that of the pipeline of 50,000 BTR homes outside London, 11,300 of them were in the city. However, the Midlands is still significantly less saturated than markets in the North West; while Manchester's BTR penetration stands at 21.8%, in Birmingham it is just 8.7%, reports Knight Frank.
With a growing population of renters, BTR body, the UK Apartment Association (UKAA) says Birmingham highlights the potential of the Midlands - although Leicester, Nottingham and Milton Keynes have also been quick to capitalise on the BTR boom.
This growth and potential have prompted UKAA to launch a new regional hub in the Midlands, following similar set-ups in Scotland and the North West last year.
Co-chairs Rebecca Taylor (pictured), MD of BTR at Long Harbour and Tom Grey, BTR director at David Phillips, will lead the organisation's work in the region.
UKAA CEO Brendan Geraghty (pictured) says: 'We are delighted to welcome Rebecca and Tom as co-chairs of the new UKAA Midlands hub.
"The Midlands is a region packed with opportunity and innovation in the build-to-rent industry, making it the ideal location for the latest UKAA hub.'�
The first Midlands hub event is on 28th June at DLA Piper UK in Birmingham where the UKAA will outline how it plans to support members with an interest in the region to discuss national and local BTR opportunities and challenges. Anyone with an interest in the sector is welcome to attend, both UKAA members and non-members.