New analysis published by the British Property Federation (BPF) shows delivery across the Build-to-Rent (BtR) sector reached a record high at the end of the second quarter, with completion levels hitting 22,000 over the preceding 12 months.

The analysis, conducted in collaboration with Savills, found that completions are now running at over two and a half times the average for the period 2017-19 and are now starting to make an appreciable difference to housing delivery across a growing number of locations within the UK.

This, when included with those homes under construction, or with planning approval, has resulted in a year-on-year growth for the sector of 4%, with the regional BtR market now leading London. This brings the total sector pipeline close to 262,000 new homes, or just over the five-year average of total housing completions of all tenures across England of 210,000 dwellings per year. Following this growth, the total number of completed units now stands at 115,778 having surpassed 100,000 in the previous quarter.

BtR completions have likely peaked
However, for the third quarter in a row the number of completions has remained well above the number of construction starts, with the gap between the two widening to 10,600 homes in the second quarter, up from 3,400 in the previous quarter (Q1).