Another report is talking up the Build To Rent niche in the British rental market.
Sirius Property Finance has compiled BTR sector completions between 2019 and 2021 to see how it had fared since the start of the pandemic and how this performance compared to pre-pandemic.
The figures show that during 2020, BTR completions totalled 11,808.
This marked a 14 per cent drop in BTR developments reaching the market when compared to 2019 when there were 13,686 completions.
This decline was driven by activity outside of London, with regional completions falling 35 per cent year on year. However, across London, the number of BTR completions actually climbed by 34 per cent in 2020, reaching a total of 5,704.
Over the last year, the London market has also seen the number of BTR completions climb by 19 per cent, reaching a total of 6,780 in 2021.
But it’s the BTR sector outside of the capital that has driven top-line growth on an annual basis, with a 29 per cent increase in completions pushing the total figure across the nation to 2,852 in 2021 - a 24 per cent overall increase on 2020.
As a result, total BTR completions hit 14,660 in 2021 - seven per cent higher than the pre-pandemic total seen in 2019.
Sirius managing director Nicholas Christofi says: “The BTR sector has been moving at a phenomenal rate in recent years and it has become a strong area of focus for housebuilders of all shapes and sizes.
“Some pandemic decline in this rate of growth was only to be expected, but we’ve since seen this decline reversed and the total number of completions reaching the market in the last year has actually exceeded pre-pandemic levels.
“London remains the key area where build-to-rent performance is concerned and while the capital’s residential sales market has lagged behind much of the UK during the pandemic property market boom, the BTR sector has continued to go from strength to strength within the boundaries of the M25.”