The number of complete new-build PRS units in London increased by more than 50% over the first three quarters of 2016 - almost 2,900 PRS units completed between January and September and half of those were in Q3 alone.
- 2,900 PRS units completed in the first three quarters of 2016 and half of those were in Q3 alone.
- 8,260 PRS units have completed in London since 2009.
- 1,450 PRS units completed in London during Q3 2016 – the record quarterly figure since 2009.
PRS within the context of the wider market
- In 2015 PRS accounted for 28% of all sales but 2015 was an exceptional year for PRS starts.
- In the first three quarters of 2016 PRS has accounted for 17% of all sales, which is lower than 2015 but compares with an average of 5% between 2010 and 2014.
- 2,550 PRS units started in Quarters 1 to 3 of 2016. This equates to an average of 850 units per quarter, which is less than half the quarterly average in 2015 (1,895 starts/quarter), but is still more than double the quarterly average over 2013 and 2014 (400 starts/quarter).
- PRS currently accounts for 14% of all private housebuilding in London, which is slightly down on the record of 15% set at the end of 2015.
- 2,890 PRS units completed in Quarters 1 to 3 of 2016. This equates to an average of 960 units per quarter, which is three times the quarterly average of 320 completions from the beginning of 2012 to the end of 2015.
- At the end of Q3 2016 there were 8,260 completed PRS units in 124 developments across London.
- GPDO schemes account for a third of all PRS units completed since 2009.