The BTR sector is predicted to become larger than the UK office and Student Market
Land Director, James Mulcare attended the UK Residential Conference yesterday which focused on the ever developing build to rent (BTR) market. This included, not only large-scale apartment schemes, but very welcoming signs of increasing interest and demand for family housing for rent as well. This rental housing model is an increasingly important part of Godwin Developments’ existing and expanding pipeline.
Amongst the many interesting speakers and panels, was Ed Crockett of Aberdeen Standard, Alexandra Notay of PFP Capital and Alex Greaves of M&G discussing BTR and making residential investment work. This panel discussed the growth potential of the housing model as demonstrated by the US Multifamily housing market being made up of 70% sub-urban schemes and not city centre apartment schemes. This trend will continue to grow here in the UK, as already the current traditional existing PRS market shows 63% of properties are houses and bungalows, not apartments. TheUK sub-urban BTR family housing model will be strong in the UK.
With the BTR sector predicted to become larger than the UK office market and the Student Accommodation market, the overall growth potential is huge for this asset class.
And finally, it is very welcome step that proper recognition is finally being given to improving and creating high levels of customer service and satisfaction for residents, this is a key component to successful long term BTR schemes.