It's touted as one solution to Australia's housing crisis, but what is build-to-rent? And can it live up to the hype?
Australia is in the grip of a housing crisis, hit by rising rents and falling vacancy rates. A newly released Ernest & Young report, commissioned by the Property Council of Australia, says that support for build-to-rent housing could result in an additional 150,000 homes over the next 10 years. "To offer more housing choices and affordable options to Australians, we need to tap into institutional investment in build-to-rent housing from Australia and abroad," Property Council of Australia chief executive Mike Zorbas says. "We know that Australia's housing construction output is fairly volatile and this makes our housing system both inefficient and wasteful," Professor Pawson says. "Typically for build-to-rent to become an affordable housing option it will require government subsidies to support the property owner letting a portion of the rental stock below market rates," the director at Australian Housing and Urban Research Institute says.
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