Property giant reports ‘positive momentum’

Grainger plc has reported “positive momentum” due to demand for rental properties remaining high.

In a recent trading update, the firm, which is behind The Condor build-to-rent apartments, in Derby city centre, said that in the four months to the end of January 2024, it saw like-for-like rental growth of 8.3%.

Private rental sector like-for-like rental growth also jumped by 8.4%, while occupancy levels remained high at 97.2%.

Chief executive Helen Gordon said: “Positive momentum continues within the business, underpinned by our market leading operating platform.

“We are maintaining strong levels of rental growth with like-for-like rents in our PRS/Build-to-rent portfolio growing 8.4%, while maintaining healthy customer affordability levels.

“Occupancy remains high at 97.2%. Our forward-looking key performance indicators show continued high levels of rental demand over the coming months, supporting occupancy.”