A recent surge of investor backing for suburban build-to-rent assets has seen the market swell to 13,884 homes, accounting for 7% of the sector.
New figures from the British Property Federation and Savills identify some 5,139 completed SBTR homes, 3,449 under construction and a further 5,296 in planning.
The pair highlighted pockets of activity in places including Crawley, Wigan and Wakefield.
SBTR has helped boost the wider sector growth, rising to 188,456 homes at the end of March.
The market swelled by 21% during the year, with the regions continuing to outpace the capital.
The BPF and Savills recorded 105,722 BTR homes in the regions, up by 29%, compared to 82,734 in London, up by 11%.
Capital cools
London still dominates, with 82,734 homes making up 44% of the total, followed by Manchester (12%), Birmingham (7%) and Leeds (4%).
However, the figures also highlight a lack of new schemes in the capital.
At 56,222 homes, the regional planning pipeline is 47% larger than London, which sits at 38,142 homes. The number of homes in planning soared by 48% for regional markets, compared to 12% in London.
The research found BTR planning approvals hit a record high in Q1 with 6,937 homes, up by 69% on the same quarter in 2020.
However, uncertainty at planning is a challenge in some London boroughs. While this year has seen a number of schemes approved in Birmingham and Manchester, as well as the London borough of Brent, others have been less successful. This month councillors in Greenwich knocked back L&G’s plans for a £300m scheme in Woolwich, throwing the future of the scheme into doubt.
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