Jean-Marc Vandevivere
Chief Executive, PLATFORM_
Build to Rent (BTR) homes offer flexibility matching modern lifestyles and can accelerate UK housing delivery if the Government clarifies major regulatory initiatives and removes barriers.
At PLATFORM_, we welcome the Government’s ambitious target to deliver 1.5 million homes. This represents a huge challenge given that only 157,000 homes were completed last year.1
The value of build to rent
BTR can make a significant contribution to achieving the Government’s targets. The swift lease-up of rentals enables rapid, scalable home delivery, meeting demand from those seeking flexibility or priced out of buying.
PLATFORM_’s buildings offer thoughtfully designed apartments with quality finishes and smart tech. The benefits of BTR living extend beyond the four walls of the apartment though. Customer service and maintenance teams are on hand to help. We create communities through regular resident events and links with local businesses. All residents have access to a range of amenities, which match modern lifestyles, included in their rent: a gym, co-working space, lounges, terraces and more.
BTR can make a significant
contribution to achieving the
Government’s housebuilding targets.
Barriers to BTR development
New build BTR homes are designed to meet the latest safety standards. However, hold-ups in the approvals that are required by this new regulation are putting the brakes on housing delivery. There are insufficient resources within the Building Safety Regulator to run the ‘Gateway’ approvals process, resulting in significant delays for those eager to start developing.
Uncertainty around the Renters’ Rights Bill, Scottish rent controls and shifting Stamp Duty rules all reduce the attractiveness of investment in UK housebuilding. Rising build costs and interest rates further strain viability, with housing starts falling below 100,000 last year, the lowest level since 2013.1
Unlocking housing delivery
The Government can unlock many of these inhibitors to housing delivery by: rapidly expanding resourcing of the Building Safety Regulator; reinstating Multiple Dwellings Relief on SDLT for large, professionally managed apartment blocks; ensuring a balanced process for rent tribunals under the Renters’ Rights Bill; and finally bringing certainty to the rent control discussion in Scotland.
Taking these steps would provide a real statement of intent that the Government is serious about its promise to build, build, build. We stand alongside many other developers ready to get going.
[1] Cushman & Wakefield, Build to Rent Marketbeat, Q4 2024.
