Build-to-rent homes, which offer ‘secure’ housing for those who wish to rent, are seen as part of the answer to the problem of housing affordability. However, the build-to-rent sector has not taken off in Australia to the extent that it has in the US and the UK, with a lack of tax concessions being seen as the main reason.
Federal housing minister Michael Sukkar claimed yesterday that “slow and truncated” state planning schemes are a hiderance to build-to-rent. Sukkar said there seemed to be plenty of capital available for investing in build-to-rent schemes, particularly from big superannuation funds. From The AFR:
“I was meeting with a very large investor in Sydney which essentially had to walk away from a $1.5 billion project because of the uncertainty with the planning scheme,” he said…
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