Love to Rent: a year in review
- 19th Dec 23
As we bid farewell to another eventful year, Love to Rent is delighted to reflect on the remarkable milestones achieved in 2023, not just for themselves, but for Build to Rent sector as a whole.
Market reflections
According to the research and reports from Savills, the first quarter of 2023 saw £820m transacted in UK Build to Rent, which is only c£240m less than Germany, the largest investment market in Europe. Single Family Housing (SFH) has also enjoyed a record quarter. From a development perspective, the number of homes under construction has grown by nearly a third in the past 24 months and construction now spans 25% of local authorities. According to CBRE, there will be strong level of rental growth in 2024. Average rents increased by around 6% in England in 2023, and a similar rate of growth is expected in 2024. The Build to Rent sector will continue to outperform the headline level of growth and in conclusion, Build to Rent has become a key part of addressing housing need in the UK
Build to Rent Awards 2023
Love to Rent was thrilled to host the inaugural Build to Rent Awards, a prestigious event recognising and celebrating excellence in the Build to Rent sector. The awards ceremony was at the The Londoner and marked a significant milestone as the first awards ceremony exclusively dedicated to the Build to Rent sector. It served as a platform to acknowledge the outstanding efforts and achievements of individuals and organisations striving to provide customers with an extensive array of choices in their quest for a new home. The event, judged by an independent panel of industry experts, highlighted the collaborative efforts within the sector that ensure a superior customer experience throughout their housing journey.
Love to Rent Week
The Love to Rent Week from the 25-29 September, was designed to highlight the significance of the Build to Rent sector with the spotlight on customer awareness and focus on the many benefits it brings to residents. The week-long campaign raised awareness of Build to Rent through compelling case studies and lived experiences as well as advice from experts. The impact was substantial, resulting in increases in social media with record-breaking engagement from the public across Facebook, Instagram, X and LinkedIn. There was also a regional advert and press release campaign with an audience circulation of 961k.
London Home Show presentation
The Love to Rent team were invited to the London Home Show on September 23 - the first time rental had been included, delivering a presentation to enlighten individuals in search of their dream homes about an alternative option. The objective is to consistently advocate for Build to Rent as a viable, long-term housing solution, challenging the perception that it merely serves as a stepping stone to homeownership.
The data
Delving into the data, it’s possible to take a look behind the performance of Love to Rent. During 2023, user engagement, page views and conversion rates all showed an increase, showing the effectiveness and success in the platform reaching its goals.
- Total number of website visits: 80,000 in the last quarter.
- Total number of page views: 286,000 in the last quarter.
- 90 developments live on Love to Rent platform.
- Love to Rent generates in excess of 1,600 quality leads per month across the portal.
- Website visits: 205,000 (+27% year on year)
- Pageviews: 830,000 (+24% year on year)
Hearing from customers
Connecting people with their ideal rental homes is at the heart of what the Love to Rent website is all about. On receiving customers’ feedback, it provides the team with invaluable insights into what is working well, helping Love to Rent continually refine and enhance its services.
Cobby Chan was looking for a new home to rent with her little dog, Polo. Faced with the challenges of securing a pet-friendly rental property, Cobby found herself drawn to the concept of Build to Rent developments, which not only promised high-quality living spaces but also catered to the needs of four legged-residents.
After doing a quick Google search, Cobby came across Love to Rent, as she explains: “The website is very easy to navigate and well laid out and what I found most useful was the icons showing different facilities and amenities. I could tell straight away if the developments I was interested in would allow pets by a little paw icon, which ones had gyms and any other facilities that they offered. It saved me a lot of time and potential disappointment.”
Looking to the future
As we reflect on the achievements of Love to Rent in 2023, it’s clear that the platform has played a pivotal role in championing excellence in the Build to Rent sector. The Build to Rent Awards and Love to Rent Wek stand out as key initiatives that have not only celebrated achievement but also increased awareness and understanding of Build to Rent as a modern and customer-focused housing solution. Looking ahead, Love to Rent remains committed to fostering innovation and collaboration within the industry, ensuring a bright future for the Build to Rent sector.