Letting times for build-to-rent (BTR) properties across the UK are outperforming the London market, according to data collated by the news and analytics provider Estate Gazette.
The data shows that a BTR home remains on the market for an average of 28 days in the UK, compared to over 30 days in London and Edinburgh.
Eight locations in the Midlands and the north of England – including Greater Manchester and Coventry – have letting times between only three and seven days, while Birmingham and Liverpool both have letting times of 21 days.
Anna Reed, data director at Estate Gazette, said: “For investors and property developers it’s clear from our latest data that the greatest opportunity lies outside of London.
“With 38,000 BTR properties built in the last year – equating to an annual investment of £4.7bn – the BTR market is maturing and those looking to invest in BTR should be looking to the Midlands and North rather than capital cities for the quickest letting times.”
According to Estate Gazette’s statistics, the average monthly rental value across the UK is currently £1,786.