Investment activity in the UK build-to-rent (BTR) sector fell in the first half of 2023, according to the latest data from CBRE.
In H1 2023, £1.9bn was deployed into the sector compared with £2.4bn in the same period last year.
Activity in Q2 fell 41% to £830m, with key transactions including L&G’s forward funding of the Loft Lines BTR scheme in Belfast (pictured) and the forward funding of Lower Essex Square in Birmingham.
Investment into single-family housing in H1 2023 hit a record high of £408m with a further £300m of assets currently under offer.
Scott Cabot, head of residential research at CBRE, said: “Despite a more subdued second quarter of transactional activity, the BTR investment market remains robust with £2.3bn of assets under offer and a healthy pipeline of assets on the market.
“Our inaugural BTR Index, launched last month, showed that the residential sector has outperformed other commercial property sectors and thanks to its strong underlying fundamentals, it remains high on investor wish lists.”
