New research has revealed almost 70,000 new rented homes have been completed, are under construction, or are currently in planning across the UK.

Data published by the British Property Federation (BPF) shows that in London, there are 6,262 Build to Rent homes under construction. However, in other regions such as Manchester and Salford, there are 10,244 units being built.

In addition, the research shows the size of Build to Rent developments is generally increasing. A total of 24 developments currently in planning will deliver over 500 new rented homes each, whereas completed developments up until now have mostly delivered under 100 homes each.

Overall, London maintains the strongest future pipeline with 38,684 homes complete, under construction or in planning, compared with 31,176 in the regions.

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Ian Fletcher, the BPF's Director of Real Estate Policy, said: "The UK's build to rent sector has reached a significant milestone today, proving for the first time that the sector is making its mark across the regions.

"While the government now better recognises that we need a housing sector firing on all cylinders across the UK, our data is a timely reminder of build to rent's contribution to solving the housing crisis. This research will further professionalise the sector, ensure it is transparent and allow us to track its growth at a time when housing is at the top of government's agenda."

Andrew Stanford, Head of UK Residential at LaSalle Investment Management and chairman of the BPF's Build-to-Rent Committee, added: "An ability to invest at scale was cited as a key barrier to the growth of the build to rent sector by the Montague Review in 2012. The BPF's analysis is encouraging because it demonstrates that high quality, fit-for-purpose build to rent schemes are no longer a rarity across the UK.

"Options for investors have noticeably increased across the country for those willing to be involved in the development process. This bodes well for the rapidly maturing sector."

(LM/MH)