BPF

BPF urges councils to be aware of build-to-rent



The British Property Federation (BPF) has welcomed the government’s formal recognition of build-to-rent in the National Planning Policy Framework (NPPF).


The government’s formal recognition in the NPPF states that local councils should plan for build-to-rent and that the sector is exempt from the provision of affordable homes for sale, instead discounted market rent – which is more commonly known as affordable private rent – should be accepted.

However, the BPF believed that the revised NPPF will only be effective if local councils across the country are aware of the benefits of build-to-rent with regards to its potential contribution to solving the housing crisis.

The BPF introduced a three-year pledge on behalf of the build-to-rent sector in 2017, which highlighted a promise to provide family-friendly tenancies – such as for three years – to people who want longer-term stability when renting a property.

The BPF’s report Unlocking the Benefits and Potential of Build to Rent – produced by Savills – estimated that build-to-rent could potentially make up a quarter of the UK’s housing shortfall (when the government’s target was 250,000 new homes each year).

The latest research by BPF has found that build-to-rent is not just a concept for London, as it is gaining traction regionally.

The research revealed that there were now 105,214 build-to-rent homes in the UK (in planning, under construction and completed), with 59,271 found in London and 45,943 in the regions.

“Build-to-rent has truly come of age this week, with formal recognition in the government’s revised NPPF that it must be treated differently to homes for sale,” said Melanie Leech, chief executive at BPF (pictured above).

“Our members have billions of pounds of investment ready to invest in the sector, and we welcome the impetus from central government to grow the sector, adding to [the] much-needed supply of new homes.

“Local councils have been both leaders and followers in supporting the sector, but I hope most will now get behind it, because a well-functioning housing market should meet everyone’s housing needs.”



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