Belvoir Telford has joined forces with two major housebuilders to offer landlords the chance to invest in Build to Rent schemes.
Simon Bell, MD of Belvoir Telford, said, “This is a very exciting PRS initiative, which is the result of some key research of rental income and appropriate housing mix that Belvoir has conducted over the seven years that we have operated in the Telford area. As a result of this research we have identified several Build to Rent opportunities within key growth towns and cities in the Midlands.
“Our sales team, managed by Nick Evans, is now working with two major housebuilders, who are looking to develop a selection of new build schemes, ranging in size from 500 to 1500 housing units across key towns in the Midlands, with significant opportunities for PRS investment.”
The total number of build-to-rent homes complete, under construction and in planning across the UK has increased by 30% in the past year, according to The British Property Federation (BPF).
In the UK, there are now 117,893 build-to-rent homes – new, high-quality and professionally-managed homes built for renters – across all stages of the development lifecycle, compared to the total of 90,761 homes at the end of Q1 2017.
Recent research from Sainsbury’s Bank Mortgages indicates that almost one in 10 (9%) UK adults have shown an interest in taking out a Buy to Let (BTL) mortgage in 2018. This means that across the UK, 4.8 million people could become landlords in 2018.
Rents in the UK, excluding London, rose by 1.18% in the 12 months to July 2018, the slowest annual rental increase in five years, according to the latest Landbay Rental Index, powered by MIAC. Despite this, strong growth can still be found in many areas in the UK.
Although the government announced plans to introduce mandatory three-year tenancies earlier in the year, there are rumours that these plans are being shelved, sparking calls from Buy to Let developers to offer more support to the sector.