Property Council of Australia (PCA) CEO Mike Zorbas told a parliamentary inquiry that “build-to-rent is the missing piece of the Australian housing puzzle”, noting that Australia’s build-to-rent share of 0.2% was well below levels of 12% in the United States and 5% in the UK.
Zorbas’ claim follows last year’s Ernest & Young report, commissioned by the PCA, which claimed that federal budget support for build-to-rent housing could increase housing supply by 150,000 homes over 10 years.
“The potential to create 150,000 homes over the next 10 years with just one asset class shows build-to-rent is about as close to a housing policy silver bullet as they come”, Zorbas said.
