Grainger Plc (LSE:GRI) said momentum continues to accelerate and occupancy remains at record levels at over 98%.
The residential property business also revealed like-for-like rental growth across its national portfolio is continuing to build over the second half of the financial year, as it updated the market on the eleven months to August.
Total like-for-like rental growth for the period was 4.5% with spot occupancy of 98.2% at end-August. New rentals year-to date were at 5.4% with renewals at 3.9%.
"Occupancy remains at record levels at over 98%,” said Helen Gordon, chief executive. “At the same time, like-for-like rental growth across our national portfolio is continuing to build over the second half of our financial year and we are seeing the strongest rental growth we have seen in a decade."
Although the rental market is currently buoyant, many individuals still face financial challenges, said Gordon adding the company has offered an additional £1000 cost of living payment to all its colleagues, excluding senior executive team.
This June, the company expanded its build-to-rent portfolio through the £128mln acquisition of 468 new homes at Redcliff Quarter in Bristol, bringing the total number of houses in the city to nearly 900, including 94 affordable homes through the Grainger Trust.
The company with a £3.1bn operational portfolio of some 10,000 homes and a £2.4bn pipeline of a further 10,000 purpose-built rental homes, will announce its results on November 17, 2022.