Property group Grainger says continued demand for private rented homes and associated rental growth puts it in a strong position.
The Newcastle-based plc gave an update on trading in the four months to the end of January and said like-for-like rental growth was 6.1% as most of its portfolio of 10,000 homes was occupied. Ahead of its annual general meeting, the firm told investors that it was closely monitoring affordability levels for its customers but expected its market to remain resilient.
Grainger has pipeline of a further 7,000 build-to-rent homes, of which it hopes to deliver 1,640 in the 2023. This year is planned to be a record year of investment for the developer, with around £300m committed to projects.
