Fun, flexibility, freedom – a new way for Victorians to live
Imagine a rental property where you can hang pictures on the wall without asking, have the certainty of a long-term, a sustainable, high-quality home with loads of community enhancing features like gyms, pools and communal gardens.
Sound too good to be true?
It’s not. It’s a new form of housing called build-to-rent that has existed for decades around the world and is now set to make an entrance in the Australian market.
Build-to-Rent is coming to Victoria and it’s a new way of living, putting the tenant first.
The Victorian Government has announced it will give the green light putting in place measures that will help bring build-to-rent to the state at scale.
Longer leases mean people move less, saving the money and hassle of multiple moves. For people saving for a home deposit, this can make a real difference.
And, as Australia’s fastest growing city, Melbourne needs innovative housing solutions that focus on liveability, connectivity and security. This is what build-to-rent provides.
The Property Council has been advocating for measures that will enable its establishment in Victoria and their Victorian Executive Director Cressida Wall has welcomed the news that build-to-rent will soon become a reality.
“Tenants want the certainty and services that build-to-rent can offer. It’s a great example of how working with industry can deliver better outcomes for Victorians,” says Wall.
“Some 30% of Australians currently rent so its imperative that we better cater to their needs.
“Build-to-rent models recognise and respond to the changing housing needs within our communities where more people are either needing or choosing to rent and are doing so for longer.
“We need to be creating homes that foster strong communities and allow people to live closer to where they work or study, to transport links and essential services like schools and childcare.”
Build-to-rent, also known as Multifamily Housing, already exists in countries like the US and UK for decades and is a vital part of the housing market.
With more people moving to our cities, build-to-rent can help revitalise the urban landscape and create thriving communities close to amenities for our key workers.
Build-to-rent is a way forward in solving the nationwide housing shortage. It will improve the way Australians live and rent for the better.
Authorised by Cressida Wall, Victorian Executive Director, Property Council of Australia, 11 Barrack Street Sydney NSW 2000