Editor's note: This brief was summarised by The Property AI Team from a report by Property118. Read the original article for full details.
Build to Rent Starts Fall 63%
The supply of new homes for tenants is under pressure, with build to rent construction starts falling by 63% in a year. Research prepared by Savills for Real Estate:UK found that 4,696 homes were started in the 12 months to September, down from 12,674 a year earlier.
Steeper Decline Outside London
According to Property118, the fall was steeper still outside London. The report does not set out the specific figures for build to rent starts beyond the capital.
What This Means for Letting Agents and Inventory Clerks
The headline figure points to a significant slowdown in new build to rent supply while demand for rented homes remains a central concern for the sector. For letting agents, a weaker pipeline of new build to rent homes could mean fewer new instructions coming to market from this part of the sector in the periods ahead. For inventory clerks, it suggests the volume of new-build handovers and associated inventory work generated by build to rent schemes may be affected if the decline in starts is sustained.
The source material does not include commentary from Savills, Real Estate:UK or any named individual, and no further detail on the causes of the fall or its regional breakdown is provided in the report.
Source: Property118