Build-to-Rent important for housing supply and diversity in NSW
A healthy build-to-rent sector is important to provide a more secure tenure for those that choose to rent, a greater diversity of accommodation and an increase in the supply of housing, a Property Council event will hear today.
The event will hear from international experts and explore the challenges and opportunities for the sector in NSW and Australia more widely.
“The renting experience can be challenging here in Australia and as we have more people than ever who are renting rather than buying, the build-to-rent sector can provide a high quality, secure rental option,” Property Council NSW Executive Director Jane Fitzgerald said today.
“It is a sector that is huge both in the US and UK and that is why it is important to hear from experts who have already operated successfully overseas on how we can achieve something similar here in Australia.
“A growing population in Sydney and regional cities like Newcastle and Wollongong will need a greater diversity of housing and build-to-rent can provide more options.”
Woods Bagot London Principal Jonathan Clarke who is visiting Australia and will speak at the event, says build-to-rent requires a re-alignment of the way we think about how our buildings operate.
“Build-to-rent requires careful design; design that has the end user front of mind and how they will experience the building and engage with the space,” Mr Clarke said today.
“Developers need to consider the context of the building – how can it be designed and built to take advantage of the benefits of the local neighbourhood and incorporate operational efficiencies – this is the key.”
Woods Bagot London Associate Principal Simon Saint will also speak at the event and says Australia is facing similar challenges to those experienced in the UK.
“Australia is currently facing two challenges; a lack of institutional investment and the fact that build-to-rent assets haven’t matured into a liquid market as yet; they cannot be traded as other assets, such as commercial office buildings, can currently; but these are challenges that can be overcome.
“Wood Bagot’s approach to build -to-rent is about creating a consistent architectural structure in each instance and then building unique, efficient apartments within this structure that suit the local neighbourhood and residents.”
The Build to Rent event will take place today from 12:00pm to 2:00pm at the Westin, Sydney CBD.
Brett Newman, CEO, Property NSW
Jonathan Clarke, Principal, Woods Bagot London
Simon Saint, Associate Principal, Woods Bagot London
Emma Ellis, Senior Development Manager, Mirvac
Peter Chittenden, Managing Director, Residential, Colliers International
Princess Ventura, Director, Urbis
Media contact: William Power| M 0429 210 982 | E [email protected]