Where build-to-rent commands the highest premium

In London it costs £146 more on average for tenants to live in build to rent-properties, the largest premium across the UK, Ascend Properties research has found.

In London it costs £1,765 in the build-to-rent sector, up from the general average of £1,639.

There’s also significant premiums in Oxford (£126 more), Cambridge (£104) and Bristol (£94%).

Ged McPartlin, managing director of Ascend Properties, said: “Despite a tough year, the rental market has stood pretty firm and it’s great to see the Build to Rent sector helping to drive top line growth across a number of major cities, while also continuing to command a premium when compared to the regular market.

“This has been, in part, down to the wider lifestyle offering the sector provides. Homes designed for long term renting with the addition of social amenities and the greater availability of indoor and outdoor space is certainly something that is resonating with residence since lockdown restrictions were imposed.

“With a greater sense of normality now returning, we should see this positive market growth continue to grow as more of us return to working, living and renting in cities across the country.”

Build-to-rent costs have seen the biggest increase In Newcastle, where it costs £858 per month for tenants, an annual increase of 17%.

Leeds has also seen a strong rate of growth, up 6% with the current average BtR rent sitting at £892.

At 3%, growth in Birmingham and Manchester has been lower but still places the two cities third in terms of year-on-year growth.

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