Grainger delivers 'strong' YTD performance

Grainger said occupancy across its private rental sector portfolio was sitting at 97% on 31 January, while total like-for-like revenue growth accelerated to 3.2% and rent collection remained strong at 98%.

The FTSE 250-listed firm stated it had also seen strong growth momentum, with its £1.9bn pipeline expected to deliver growth in recurring earnings, as net rental income, by approximately 2.5 times over the medium-term.

In terms of sales, prices achieved remained ahead of valuations by between 1-2%.

Chief executive Helen Gordon said: "We have delivered a strong performance for the start of our financial year. We have achieved occupancy in our PRS portfolio of 97%, an improvement since the year end. Rental growth is strengthening further at 3.2%, having remained positive throughout the pandemic.

"This performance is testament to our strong operational platform. Our customers recognise the value in our high-quality homes and great service."