Reflecting on a fantastic morning on Thursday hosting the inaugural Harris Associates BTR Club - Developer Edition at Claridge's. We enjoyed a great breakfast with engaging discussions, enriched by insights from top industry leaders. Huge thanks to Paul Cummins from JRL Group Ltd, Damien Sharkey from HUB, Michael Old from Moda, Edward Owen from Packaged Living, Max Sugden from Telford Homes and Oliver Westray MRICS of McLaren Property. Also special thanks to Damian Wild for moderating the thought provoking discussion. As the economic outlook starts to brighten up with inflation below expected levels and the market pricing in interest rates to drop sooner than expected, my top three takeaways from the breakfast are as follows: 1. The market is evolving - 'Discount to VP' metrics are decreasing in relevance, particularly in the multifamily space which continues to mature. 2. Surprising fact of the day - Palm Beach, Florida, has seen more BTR units than the entire UK to date! 3. Alignment with investors and developers is becoming increasingly important to unlock development and bring forward supply. This is now filtering into more creative structures that mean returns for the developer are being linked with asset performance. One obvious revelation from this and other recent BTR events in the UK is that the sector is evolving at a remarkable pace and there is so much room for further growth. #BTR is a dynamic and exciting market we are glad to be part of. Looking forward to our next gathering! #BuildToRent #RealEstateInsights #HarrisAssociates
Damian Wild
9mo
Great discussion. Thanks Alex and everyone. I too have been talking about Palm Beach more than ever before (credit: Damien Sharkey)
Fantastic video Alex Matthews! It's great to see the BTR sector continuing to grow and evolve in the UK.