Business News
Aleading property expert says there is a lot of opportunity in the build-to-rent market for developers, but the sector needs to be repositioned to capture more market share.
Speaking at the Urban Development Institute of Australia’s national congress in Perth, National Housing Finance Investment Corporation (NHFIC) chair Adrian Harrington said the build-to-rent (BTR) sector could play a significant role in addressing the country’s impending housing shortage.
He said while housing approvals were at 15-year lows, population growth forecasts were at historic highs.
“At a time when we’ve got all these issues, and crisis in housing [we are experiencing] the strongest growth in population we’ve seen in decades, [at] close to 300,000 people and adding the natural growth … we’re probably going to be heading towards 500,000 people a year increase in population, the impact of that on dwellings is extraordinary,” Mr Harrington said.
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