Build to Rent Breakfast

The Property Council’s industry breakfast on 24 August explored Build to Rent, the hotly anticipated asset class set to imminently emerge in the Australian market.

Leigh Warner, National Director – Research at JLL, provided an extensive overview of the Build to Rent model, the experience of the asset class in the United States and United Kingdom, and what may be needed to enable the product to be developed in Australia.

Leigh pointed to a long-term structural change in the way Australians view apartments and renting as an increasingly preferable accommodation arrangement. With housing affordability pressures around the country increasing the volume of sophisticated renters, the viability of Build to Rent has suddenly become front of mind for many Australian developers.

Scott Ponton, Chief Executive Officer & Managing Director of LIV Residential, and Warwick Bible, General Manager – Residential Development QLD Communities with Mirvac, joined Leigh on stage for a conversation on the topic directed by Kirsty Smith, Managing Director – Kelen Property.

Kirsty drew out the panellists’ opinions on how the Build to Rent model could operate in an Australian setting, and where the new opportunities for investment lie. 

The panel discussed how comparatively low yields previously made the model unattractive, but outlined how Australian investors are already investing significantly in this product overseas.

Build to Rent’s potential as a solution to housing affordability was analysed. Within the UK the Government has utilised the asset class as a common mechanism to effectively use the private sector to deliver affordable housing.

The Property Council would like to thank RCP Project Management for their generous sponsorship of the Build to Rent breakfast and the Property Industry Breakfast series, and thank Leigh, Kirsty, Scott and Warwick for their insightful contributions.

Photos from the event can be found here.

Sponsor: