Over the last decade, buy-to-let has had a significant rise to prominence in the UK property market, with the number of renters increasing all the time.
The rapid growth of the country’s population, including a 15% rise in the number of families formed in the UK over the last 20 years, has led to an estimated shortage of 300,000 new homes each year to help meet demand.
This large undersupply of housing, coupled with rising property prices, has allowed the private rental sector to flourish. Today, almost 5 million houses are privately rented in the UK, representing 19% of the country’s real estate market (Council of Mortgage Lenders).
With demand for buy-to-let property at an all-time high, there is real opportunity for property investors to secure strong rental returns in the coming years.
Purpose-built rental properties fit better into the lives of people more than ever before. They are considered more convenient, allowing renters to move fully furnished properties and providing the freedom should they wish to move to without selling their home first.
The Build to Rent sector fits perfectly into their lifestyle and developers now recognise the need to design projects with young professionals in mind.
This new generation housing is in areas where the largest demographics, students and young professionals, are working and studying, which means that they have convenient access to housing that allows them to develop the best work- life balance.