With BTR growth in London seeing a 16% drop over the same period, however, overall growth remained lower, at 7%.
For the period between 2020 and 2021, outside London BTR has seen a 29% increase in completions, while in London this figure grew by 19%, pushing the total figure across the nation to 2,852 in 2021, a 24% increase on 2020.
London saw the number of BTR completions reach a total of 6,780 in 2021.
During 2020, BTR completions totalled 11,808 across the country, a 14% drop when compared with 2019 (13,686).
Unlike 2021, this decline was driven by sector activity outside of London, with regional completions falling by 35%, while the number of BTR completions in the capital climbed by 34% in 2020, reaching a total of 5,704.
Nicholas Christofi, managing director of Sirius Property Finance, said: “The build-to-rent sector has been moving at a phenomenal rate in recent years and it has become a strong area of focus for housebuilders of all shapes and sizes.
“Of course, some pandemic decline in this rate of growth was only to be expected, but we’ve since seen this decline reversed and the total number of completions reaching the market in the last year has actually exceeded pre-pandemic levels.
“Of course, London remains the key area where build-to-rent performance is concerned and while the capital’s residential sales market has lagged behind much of the UK during the pandemic property market boom, the build-to-rent sector has continued to go from strength to strength within the boundaries of the M25.”
