Grainger Rent growth

Grainger PLC, the UK's largest provider of private rental homes, reported a like-for-like rental growth of 6.3% for the financial year 2024, supported by robust demand and a tight housing market. The company added 1,113 new homes to its portfolio, which now totals around 12,000, and achieved high occupancy rates of 97.4%. Although rental growth slightly decreased from 7.7% in the previous year, Grainger anticipates continued increases driven by high wage growth and sustained demand in target demographics. The sale of non-core assets generated £274 million, contributing to the firm's strategic growth plans while maintaining a strong balance sheet. CEO Helen Gordon expressed confidence in the rental income sustainability amid a favorable political climate that opposes rent controls. Grainger's ongoing development projects and asset recycling are expected to further enhance its revenue streams in the upcoming financial year.