London is more reliant than ever on its private rented sector (PRS), including over 250,000 households with children. Both public and private sectors are recognising the potential of new-build PRS development – often dubbed ‘Build to Rent’ – as an alternative to the existing PRS and its challenges.
This sub-sector of the PRS is undoubtedly growing – there are currently 38,079 new-build PRS units completed, under construction or with planning permission. Many of these are institutionally funded, large-scale, professionally managed blocks offering longer, more secure tenancies. But who are they for and what is the case for London’s local authorities and housing associations to get involved?
Making the Most of Build to Rent in London outlines London’s PRS development landscape, makes the case for public-sector involvement – as developers, landowners and planning authorities. It sets out recommendations for both public and private sectors, and calls for the public sector to develop socially minded Build to Rent – alone or in partnership with developers and investors.