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Treasurer Scott Morrison has been accused by major property developers of trying to stifle the development of a “build-to-rent” sector in Australia. Morrison has reportedly published a draft law that would ban managed investment trusts from acquiring residential property unless the property is targeted at low-income consumers. This law, in turn, is preventing apartments from being built and rented out on a long-term basis. From The AFR:
…why is Treasurer Scott Morrison blocking a whole new way of funding good-quality rental housing?
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.