RESI Convention 2018
RESI 2018 proved another great opportunity to get together and discuss the main issues and opportunities facing the Resi industry today.
With much talk about the ongoing housing crisis, land supply and planning restrictions all playing a part in the problem, BTR continues to emerge as one of the potential solutions to increasing housing supply and is gaining momentum in the housing market in creating a more consumer focused, community led and professionally managed rental product.
‘The Build-to-Rent: The Next Frontier’ panel highlighted the importance of this customer led approach, with fascinating insight from Greystar, Moda, PFP Capital and Grainger. The panel focused on design and on-going management, which create a high level of service, whilst creating the flexibility to allow the future needs of the BTR sector.
Whilst BTR expansion is still hampered by availability of suitable sites, viability issues and lack of completed schemes provide sufficient evidence for valuers. As a sector, it is evolving rapidly and ever learning as to what the right product is and how best to build it with the end user and consumer from the outset. This emerging sector still requires growth to reach the level that student housing is currently at as a recognised and welcomed housing market.
According to Savills enlightening and entertaining market overview, BTR units completed, under construction and in planning grew by nearly 1/3rd in the year to end Q1 2018. The UK regions overtook London to take a significant lead in new BTR developments, with a commanding 62% of all BTR homes under construction.
Another fascinating and thought-provoking talk was given by Maria Brenton, senior co-housing trust ambassador and founding member of OWCH – the UK’s first example of private and social partnership specifically designing and running housing for older female residents. Holland, by contrast, has over 300 senior co-housing communities with mixed tenures, all of which help to tackle the growing problem of loneliness which the UK housing market is suffering from, as evidenced by the appointment of the first Minister for Loneliness in the UK in January this year. UK developers can learn from such co-housing schemes and look to incorporate such forward thinking and innovative ideas and collaborative approaches into many new schemes. As with BTR, creation of communities is becoming an increasingly important requirement in designing schemes of this nature.
As developers within this exciting BTR sector, Godwin Developments welcomes these engaging and open discussions and looks to be part of a new wave in building communities and contributing to the growth of choice in high quality, professionally managed rental accommodation across the UK.