Launch comes as build-to-rent completions outpace starts for six consecutive quarters
The British Property Federation and the Association for Rental Living have formed a Build-to-Rent Alliance and plans to create a new Consumer Code for the sector.
The union of two of the biggest bodies in the sector comes at a time when the latest figures show Build to Rent (BtR) delivery slowing across every region of the UK.
The aim of the BtR Alliance is to create a single voice for the sector, amid policy and regulatory challenges.
The Alliance plans to advocate to improve investor confidence, and tackle current viability and delivery challenges.
It also intends to work to improve the consumer experience and perception of BtR both within the wider private rented sector through the adoption of a new Consumer Code.
The latest analysis from the British Property Federation (BPF) and Savills shows that completions for new BtR 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.
The pipeline of new BtR homes in planning on a year-to-date basis stands at 5,000.
>> See also: Budget 2024: Housing sector sounds alarm over build to rent tax hike
Melanie Leech, chief executive of BPF said: “The formation of the BtR Alliance comes at a critical time for the Build to Rent sector. Build 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.
“A 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.”
Brendan Geraghty, chief executive of Association for Rental Living, said: “Against a backdrop of increased delivery challenges the need to speak with one sector voice has never been more paramount.
”But 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.”
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