Rick de Blaby, chief executive of the UK’s leading Build-to-Rent developer, operator and owner of large-scale rental neighbourhoods, Get Living, discusses the Labour government’s approach to tackling the housing crisis and the growing role that a well-functioning Build-to-Rent sector could play.
Renting in the UK has long been synonymous with poor-quality housing and unfair treatment from unscrupulous landlords. With demand significantly outstripping supply, the situation for renters has worsened, making bidding wars and overcrowded homes the norm. The landlords that take advantage of these conditions must be held to account.
Unfortunately, housing policy often forgets the country’s 12 million renters, many of whom deserve a far better rental experience than they’re offered.
The Renters Reform Bill, brought forward by the Conservative government pre-general election, struck a good balance between protecting renters and maintaining an appealing market for the investment required to increase supply. Having finally gathered some speed, it was disappointing that the party wasn’t able to see it through before the cut-off period.
We are now, however, in the dawn of a new political era. With 40 bills set out in the King’s Speech, the new government’s approach is clearly ambitious and forward-thinking, and we were pleased by Labour’s plans to bring a Renters’ Rights Bill straight back to the table.
At Get Living, we are optimistic about the potential this bill has to raise standards and improve the quality of life for renters across the nation, something we and the wider Build-to-Rent (BTR) sector have long been doing. It is equally encouraging to see signs that the government understands the importance of attracting private capital into the historically underfunded rental sector.
The move to rule out rent caps by Chancellor Rachel Reeves has helped to foster investor confidence in the market, demonstrating a clear desire from Labour to find the right balance in protecting renters whilst ensuring the market remains an attractive investment proposition.
This requires nuanced policy making and, although quick fixes may seem attractive and would show immediate progression, they often create unintended consequences, which in this case would serve to undermine the sector’s long-term stability.
The priority must be to create a well-functioning rental market that addresses the chronic undersupply of homes in the UK, raises standards in terms of quality and service and holds bad actors to account on all sides.
The BTR sector is already playing a pivotal role in making this happen, bringing forward homes at scale that are fit for the future, with onsite resident support and a customer-first approach. It has significant scope to grow and the latest findings show a huge amount of untapped investor appetite. Savills’ latest Built to Rent Market Update, for example, highlighted a significant jump in investment activity. With nearly £1.2billion invested between April and June this year, it marked the second-highest level of investment in any Q2 on record.
We must be able to tap into that investor appetite to be able to deliver the new homes needed at scale and at speed.
Yet, the issue still stands that our current planning process is not fit for purpose and is holding the UK back. Delays within the planning system have an impact on project viability, with many schemes having to be redrawn. This not only incurs further cost and has a negative impact on the sector’s ability to attract essential capital, but it can also lead to entire schemes being abandoned, meaning fewer homes are delivered and more time is wasted.
Addressing these systemic issues is critical if we are to deliver the volume of homes required. We therefore welcome the clarity that our Deputy Prime Minister, Angela Rayner, has provided in recognising the ineffectiveness and inefficiencies of our planning system.
The country needs a simplified approach to planning that not only removes existing barriers, but also has an expanded understanding of the types of homes needed.
The revised National Planning Policy Framework, and subsequent long-term housing strategy, is a step in the right direction to pave the way for the provision of the high-quality homes the country urgently needs to alleviate our current housing and rental crisis. And we hope that a more fit-for-purpose planning system will unlock investment, grow local economies and actually give people a choice of where to live.
However, planning reform alone will not break down all the obstacles to growth. It’s crucial to remember that any increase in housing supply must be supported by adequate infrastructure if we are going to deliver places and communities that thrive.
At Get Living, in addition to several new rental neighbourhoods across the UK, we’re currently working on our Elephant and Castle Town Centre development, one of the capital’s major regeneration projects.
Once complete in 2026, the scheme is set to be a new destination in London and will stand as a case study for urban, mixed-use regeneration projects, made possible by public-private partnerships and an innovative approach to development. The first phase will bring forward new homes for rent, including affordable homes, a state-of-the-art campus for UAL’s London College of Communication, shops, restaurants and cultural, leisure and work spaces. The development will also provide major infrastructure improvements to public transport, including a new entrance to the Northern Line Underground.
It is a great example of what can be achieved through development in terms of new homes, jobs, support for local businesses, engagement with communities and contribution to local economies.
We understand that this won’t be possible on every development, but if we want to be driving meaningful, positive change across the country, we need to be working closely with central and local governments in pursuit of these opportunities. We can see this infrastructure-led approach coming through via Labour’s new town proposals and it will be interesting to see how they intend to progress these plans.
The housing and rental market is clearly at a pivotal point. The steps being taken by the government to improve the planning process and enhance the rental experience are promising and, if executed, will make great strides in professionalising the UK’s rental sector, bringing forward new homes and making the UK a more attractive place in which to invest. However, the journey is just beginning.
By working hand-in-hand with the government and local authorities, we can create a far more efficient and stable housing market that meets the needs of renters and homeowners alike. We stand ready to play our part and we look forward to working with our new government to make this happen.
