GLA annual housing report finds nearly 7,000 BTR homes started in 2022

Nearly 7,000 build-to-rent homes were started in London in 2022 according to a Greater London Authority (GLA) report.  

The GLA’s annual housing report, which gathers evidence to underpin the mayor’s housing strategy, cited figures from research consultancy Molior showing 6,925 new Build-to-Rent (BTR) homes were started in London in 2022 —a 50% increase compared to the previous year. However, there was a 42% decrease in completions between 2021 and 2022, driven by a 60% reduction in homes completed in Inner London.

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Between quarter 4 in 2019 and quarter 2 in 2023, BTR providers were the largest buyer of new market homes on large developments in London.

The number of sales to BTR providers increased significantly throughout 2021. However, sales fell in late 2022 and into the first half of 2023, when they accounted for 29% of total sales.

The data cited figures from the GLA’s latest annual monitoring report showing 38,202 homes were added to the housing stock in total in 2021/22, up 13.5% on the 33,656 started in 2020/21. 

The report follows the news early this month that no homes have been started under the 2021-26 affordable homes programme in the capital.