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Build-to-rent not considered a priority amongst MPs, research finds
Cross-party research by a communications consultancy has revealed that just 11% of MPs would prioritise the development of new build-to-rent (BTR) homes in their constituencies.
The research conducted by Cavendish Consulting and YouGov has revealed that parliamentarians do not consider increasing BTR a high priority.
MPs across all parties were asked about their constituency housing focuses. BTR ranked seventh out of eight listed housing options in terms of priority.
At the same time, more than half (58%) of MPs expressed support for an increase in BTR in their constituencies; one-third remained uncertain about their stance.
The survey found 10% of elected representatives in the Labour Party wanted to see purpose-built rental homes prioritised in their areas.
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There was not much more support for BTR from the other side of the Commons, with just 14% of Tory MPs prioritising this tenure.
Social housing delivered by councils and housing associations received far greater support from Labour MPs, while 63% of Conservative MPs prioritised private sale housing.
BTR, which is purpose-built developments for private rent owned by long-term investors, has been a small but steadily growing part of the UK housing market over the past decade.
The survey of 144 MPs in June and July this year also revealed that no London representatives of any political persuasion made BTR their top housing priority, a statistic Cavendish described as “concerning”.
Max Camplin, executive director at the consultancy, said: “Our research shows there is clearly a lack of prioritising the development of BTR homes at a national level. Every day there are stories emerging from the private rented sector where people are paying expensive rent for a property that doesn’t meet their needs.
“Not only is this impacting them financially, but also their mental and physical well-being. Compared to some of the rental market, which can be poor quality and sometimes badly managed, BTR provides good quality, safe and sustainable rented homes to suit a wide range of income levels.
“We know that MPs want the best for their constituents and communities. Therefore there’s clearly more the property industry can do to communicate the benefits of BTR.”
Mr Camplin added: “The sector is still largely misunderstood by policy- and decision-makers. Greater awareness is needed, particularly as we approach a general election. All eyes are on the political parties to define their visions to address the lack of housing supply.”
Research from July this year by the British Property Federation, in partnership with Savills, showed that the total number of build-to-rent homes completed, under construction or in the planning pipeline was 253,402 – up 12% in the past 12 months.
However, the analysis found that “challenging” market conditions had slowed output down sharply.
Jacqui Daly, Savills’ director of residential research, said the tenure had a “key role to play in maintaining overall housing supply”.
