deverellsmith podcast: Richard Berridge talks single-family BTR

A New Lease of Life podcast: deverellsmith speaks to Richard Berridge about where the single-family Build to Rent market is heading.

deverellsmith podcast: Richard Berridge talks about single-family Build to Rent | BTR News

Hosted by deverellsmith’s Head of Build to Rent Nick Hammond as part of the ‘A New Lease of Life’ sub-series, Richard Berridge, the UK Single-Family Association’s CEO talks about what sets the single-family rental market apart from the rest of Build to Rent, why he set up his new organisation and their mission for the future.

Breaking down Build to Rent

Kicking off the podcast, Richard talks numbers – highlighting the extent of the Build to Rent market. With approximately 90,000 units falling under the Build to Rent category, 80,000 are categorised as multifamily and the remaining 10,000 as single-family rental homes. Consequently, the single-family sector remains comparatively diminutive in size.

What sets single-family apart from the rest?

During Covid, Richard discovered one of the most significant advantages of this aspect within Build to Rent. It became apparent that people could secure more space at a lower cost, complete with private outdoor areas – a crucial aspect of the surge in remote work.

Richard notes the slower uptake of single-family compared to multifamily, which could be linked to market trends and a tendency to follow the crowd. However, he highlights a shift occurring as people recognise the worth of single-family rentals. The flexibility to construct such homes nationwide could profoundly influence housing across the entire country, a scope not matched by multifamily units concentrated in city centres.