In the UK, the growth of build to rent is accelerating as its popularity soars. By the end of 2021, there were more developments in the planning stage than are currently finished, indicating that the sector shows no sign of slowing down. Until recently, the trend towards build to rent has predominantly been in the UK’s larger cities, and especially London. But now we’re seeing more and more suburban rental only developments cropping up. So how many build to rent homes are there, and where is build to rent in the UK? Let’s take a closer look at this booming sector.
How many rental only homes are there?
As of the end of 2021, the British Property Federation reported there were 70,785 completed build to rent homes in the UK. A further 42,119 homes were in development, while 99,273 were at the planning stage.
Adding completed, developing and planned schemes together creates a total of 212,117 build to rent homes in the UK. The success and popularity of build to rent up to now is paving the way for further growth in the sector, as people search for alternatives to buying a home, and the traditional rental sector.
Build to rent location ratings
Verified residents have provided HomeViews with their reviews of some of the UK’s most popular build to rent developments. HomeViews’ 2022 National Build to Rent Report outlines the findings of these reviews, including feedback on the location of build to rent developments.
Of the five categories reviewers provide feedback in, location is consistently the highest scoring among build to rent tenants. Many build to rent developments enjoy city centre locations, within easy reach of local facilities, workplaces and transport connections.
Build to Rent developments outside the capital tend to score higher than London developments across all categories, including location. London-based developments do still average almost 4.5 out of 5 for location though, suggesting many of them are situated in highly desirable locations.
Build to rent in London
London is the focal point of the build to rent sector in the UK, with 89,678 homes either constructed or in planning. Build to rent developments have become prominent in the areas close to London’s major business hubs, including the Docklands.
There are also plenty of developments in areas close to major transport hubs into the city. London’s rental only housing units increased by 10% in 2021. Below you’ll find some of the highest rated build to rent developments in London.
London Build to Rent communities
Where is build to rent in the UK regions?
Build to rent development in the UK regions outside London is accelerating fast. By the end of 2021 there were 122,499 build to rent homes outside London. The pace of development, however, outstripped London, with 26,820 homes under development – an increase of 27% on the previous year.
The overall numbers of build to rent developments outside London, including completed, under construction and in the planning phase, increased by 16% compared to the previous year. This indicates that the rental only sector is spreading from London and around the country at remarkable speed.
Build to rent is becoming more prominent in major English cities, including Birmingham, Manchester, Liverpool and Leeds. There’s also been an increase in build to rent in the home counties and commuter towns surrounding London. Developments are under construction or completed in Reading, Crawley, Slough, Woking and Watford, among other commuter hubs.
Outside England, build to rent started to take off in Scotland in 2021, with a 156% increase in projects under construction compared to the previous year. There was an increase of 19% in rental only homes overall, from 10,713 to 12,793. You can take a look at some of the highest rated build to rent developments outside London below.
Build to Rent UK-wide
The rise of suburban rental only developments
While build to rent developments have been mainly associated with apartment buildings in city centre locations, there’s a growing trend towards suburban developments. As build to rent becomes more popular, the demand for rental only family homes has increased. Some developers are specialising in creating rental only housing developments in suburban settings. These include Simple Life Homes, which has a growing number of developments in popular city suburb locations, especially around Greater Manchester. Take a look at some of the most popular rental only housing developments below.
HomeViews provides verified resident reviews of the UK’s housing developments. We’re working with developers, house builders, operators, housing associations and the Government to recognise high performers and help improve standards in the built environment.
