More than 10 million people are currently living in the Private Rented Sector (PRS), with the number set to grow exponentially due to changes in domestic mortgage lending, the elevated house price to earnings ratio, a shortage of new homes and a reduced volume of local authority housing.
Graduates are particularly keen to move to urban areas with mass job creation on offer, which has led to a requirement on developers to create rental accommodation for a new generation.
As such, the future of PRS is evolving, and requires innovative developers to come to the forefront and create fit for purpose living environments. CityBlock’s Urban Living model provides bespoke accommodation within cities that have a high graduate retention rate but poor access to affordable, convenient, quality accommodation. High specification but comfortable and attainable, Urban Living developments offer a fully furnished option for those looking to live in prime locations without the usual associated costs and commitments.