Regional surge drives growth in build-to-rent
GFTU | Regional surge drives growth in build-to-rent | Fortnight ahead
Company news
Grafton Group (GFTU, 716p, £1,630m)
UK, Irish, Dutch builders’ merchant and products group. Directorate change. Eric Born to be appointed CEO on 28 November, succeeding Gavin Slark, who remains with the Group until 31 December. Born for five years as CE of Swissport International, the global aviation services provider, and for a similar period as CE of Wincanton, a provider of supply chain solutions in the UK and Ireland.He previously served as non-exec at Serco Group, which specialises in the delivery of essential public services, and distribution and aviation services group John Menzies.
Economic data
Build-to-rent. The total number of BTR homes, either completed or in planning or construction in the UK rose by 15% Y/Y to 240,202 in Q3, according to analysis from the British Property Federation in collaboration with Savills BPF (link). Completed BTR homes now total 76,829, up 14%, while those in construction or planning rose by 14% and 15% to 49,837 and 113,536 respectively. Growth in the overall total was highest in the regions (+20%, 149,237) than London (+7%, 90,965), with the difference most marked to those under construction (+22% for the regions vs +3% for the capital).
Fortnight ahead
NB Prices are as at the previous day’s close.
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