A combination of two associations dubbed the \u2018Build to Rent Alliance\u2019 has launched against the backdrop of falling build-to-rent (BtR) activity.<\/p>\n
The Build-to-Rent Alliance was formed from the British Property Federation (BPF) and Association for Rental Living (ARL), while its remit will be advocating for policy and regulatory changes, as well as improving consumer experience and perception of build-to-rent.<\/p>\n
The latter could be achieved through the adoption of a new Consumer Code, the group added, as it blamed low delivery of build-to-rent units on regulatory and policy issues.<\/p>\n
Melanie Leech, chief executive, British Property Federation, said: \u201cThe formation of the BtR Alliance comes at a critical time for the Build to Rent sector.<\/p>\n
\u201cBuild to Rent has been the major success story of housing delivery over the last decade but is under increasing pressure from a combination of economic and policy factors.<\/p>\n
\u201cThis is now the sixth consecutive quarter where completions have outpaced starts and the number of schemes in planning has fallen.<\/p>\n
\u201cIt is now clear that planning reform is not enough, and we need to see real action to address viability challenges and allow the sector to reach its full potential.<\/p>\n
\u201cA key focus of the Alliance will be to elevate awareness of the importance of the sector with policymakers and ensure that policy and regulatory conditions facilitate delivery of much-needed Build to Rent home.\u201d<\/p>\n
Analysis from the British Property Federation and Savills shows that completions for new build-to-rent developments continue to outpace start-on-sites for the sixth consecutive quarter and the number of new schemes in planning have dropped 18% since Q1.<\/p>\n<\/p>\n
This brings the pipeline of new homes in planning on a year-to-date basis to a low 5,000.<\/p>\n
While London has experienced a 16% growth in schemes in planning, there has been zero growth across the regions.<\/p>\n
The Q2 figures also demonstrate the impact that delays at the Building Safety Regulator (BSR) are starting to have on BtR delivery across England, further depressing the number of schemes able to progress to commencing start-on-site.<\/p>\n
As a result, a key part of the Alliance\u2019 remit is to continue to raise awareness in local authorities of\u00a0 the benefits of BtR and create a more accommodating environment for new schemes to come forward.<\/p>\n
Brendan Geraghty, chief executive, The Association of Rental Living, said: \u201cThe creation of the new Alliance comes at a pivotal time for the Build to Rent sector.<\/p>\n
\u201cAgainst a backdrop of increased delivery challenges the need to speak with one sector voice has never been more paramount.<\/p>\n
\u201cBut nor has the need to ensure that the benefits of BtR are conveyed far and wide, including how it can act as a catalyst for town centre renewal and support a growing economy.<\/p>\n
\u201cNor should we forget about our most importance audience, the very people who choose to live in BtR. It is for that reason a central pillar of the Alliance\u2019s work will to establish and promote a new Consumer Code to continue to make BtR for first housing choice for many.\u201d<\/p>\n
\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"
A combination of two associations dubbed the \u2018Build to Rent Alliance\u2019 has launched against the backdrop of falling build-to-rent (BtR) activity. The Build-to-Rent Alliance was formed from the British Property Federation (BPF) and Association for Rental Living (ARL), while its remit will be advocating for policy and regulatory changes, as well as improving consumer experience […]<\/p>\n","protected":false},"author":1,"featured_media":1748,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-1747","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-second-home"],"yoast_head":"\n