Grainger celebrates 'remarkably high' demand for rentals

Residential property group Grainger is celebrating record-breaking levels of trade driven by "exceptionally high" rental demand, signaling sustained momentum in the market. The company reported robust rental growth over the past four months, with plans for additional buy-to-let builds in the pipeline. Grainger's shares saw a positive uptick following this news, rising by 2.38% on Wednesday and nearly 4% over the past year, underlining investor confidence in the company's performance.

With total like-for-like rental growth reaching 8.3% year-to-date, Grainger attributes its success to strong demand in both the private rental sector (PRS) and regulated tenancy segments. Despite a slight dip in occupancy levels, the group maintains high occupancy rates across its PRS portfolio, emphasizing sustained interest in rental properties. Additionally, Grainger reports achieving above-valuation sales prices and benefiting from favorable market liquidity in residential sales. The company's strategic focus on expanding its operational portfolio, including upcoming build-to-rent schemes in Birmingham and Bristol, underscores its optimistic outlook for continued growth in the UK rental market.

Source: This is Money