Sustained levels of institutional investment could help deliver 240,000 new homes in the UK, a study has recently revealed.
The report was produced by the British Property Foundation, Savills and the London School of Economics and has named the huge investment opportunity that the UK’s build-to-rent market offers could play a key role in fixing Britain’s growing housing crisis.
According to the report, some options like building on prime urban sites close to public transport and addressing increasing demand for rental property could lead to a three times higher level of housebuilding than currently.
Ian Fletcher, Director of Policy at the British Property Federation, commented: “By measuring build-to-rent’s growth and the other benefits it delivers, and what gets in its way, we want to show to government the sector can be an important partner to its ambitions to build more homes.”
When it comes to calculating the potential output, the report estimates that if this was to be achieved on 20% of large sides currently in construction, the output would increase by 6%.
In 2015/2016, 164,000 new homes completed construction in England. Adjusting the figures accordingly, the suggested increase in construction could deliver an additional 15,000 homes every year.