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Brexit will boost build to rent, say property experts

Developers of homes for rent believe Brexit won’t prevent build-to-rent from expanding over the years ahead. Some experts believe current conditions represent ‘a perfect storm’ for build to rent industry.

Martin Bellinger, chief operating officer at Essential Living, said: “Build to rent developers have at times found it difficult to compete with volume house builders when it comes to acquiring sites, especially in places like central London where land values are sky high. But as development activity cools in the wake of Brexit, land prices and construction costs will probably drop, opening up new possibilities for the purpose-built rental sector.”

Graham Bates, chief executive at LIV, said: “Demand for rental accommodation will continue to outstrip supply, and any easing of land values could see yields move into more positive territory encouraging more investors to move in. Domestic funds need to be invested and international investors will benefit from a weaker pound.”

Stewart Knight, acquisitions director at Westrock, said: “There is a lot of focus on London property, where the market is sensitive to international demand. But outside London, in the key employment hubs and commuter towns, we expect many professional people will postpone plans to buy and look for somewhere decent to rent instead.”

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