Child born in UK to parents with temporary permission to wor

Could anyone help me please. I have contradictory information about my question?
My wife is pregnant and she is going to give birth in two months here in London. We have permission to live in London until next year. As far as I know my baby is not going to have British citenzenship. But is he going to have any rights in the future? Is he going to have the right to apply for a British passport when he is 18y old?
Thank you for your time

UK-born child will be entitled to register for British citizenship
if a parent is subsequently granted settlement or British citizenship; or
if child spends first ten years continuously in the UK.

Applicants aged 10 or over are subject to the Good Character requirements.

Thanks for your replay. But I have to leave UK in 1 year. What happens next?

You either leave the UK in one year time or apply for extension of your visa.
You child will only be entitled to apply for British citizenships if the conditions mentioned above are met. Just the fact that he will be born in the UK doesn't give him any rights.