Property Council of Australia backs built-to-rent model to tackle housing crisis
Build-to-rent apartments could be the ‘silver bullet’ the Australian housing market needs, chief executive says
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Build-to-rent housing could deliver 150,000 new homes over a 10-year period, a new study released by the Property Council of Australia has revealed.
The report, commissioned by the Property Council and conducted by Ernst & Young over a five-month period to April 4 this year, showed that built-to-rent housing in Australia is now worth $16.8 billion but had the potential to become a $290 billion sector with the creation of 350,000 new apartments.
However, the report said a ‘viable’ market in Australia would likely require capital investment from foreign investors.
“The Government is to be commended for taking an interest in the Build to Rent sector, through the National Housing Accord and beyond,” the report said. “However, despite the numerous pilot projects, a viable market that is liquid enough to meet demand is still not realistic in Australia.
“In order to create a viable market, capital investment is required which is likely originated from overseas foreign investors in the short to medium-term. As such, Australia needs to remove barriers to entry to allow the flow of foreign capital and the creation of a liquid and viable investment proposition.”
Among the report’s recommendations are offering incentives to local and international investors through tax breaks, allowing a 15 percent managed investment trust withholding tax rate for foreign investors and addressing the regulatory barriers for domestic Superfund investors.
Property Council of Australia chief executive Mike Zorbas said the build-to-rent was a key tool to addressing Australia’s housing crisis in the coming years.
“With a 79,300-home deficit to 2033, Australia needs better planning, more land supply, proper housing targets and a national strategy on build-to-rent and purpose-built student accommodation,” Mr Zorbas said.
“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.
He said Australia faces a worsening housing affordability crisis with State Governments missing their housing targets and planning systems failing to keep up. Supporting a build-to-rent model would also ease housing affordability pressures, Mr Zorba said.
“More supply means downward pressure on the cost of renting and buying, and people who live in build-to-rent housing will enjoy the benefits of professionally managed properties, good locations, superior amenities and long-term security of tenure,” he said.
A relatively new model of housing in Australia, the NSW Department of Planning describes built to rent as “large-scale, purpose-built rental housing that is held in single ownership and professionally managed”. It’s a popular, long established model of housing in Europe where it made up one fifth of commercial housing in 2020, according to Canstar.
The Ernst & Young report said the Australian model should target Millennials and Generation Z, with a focus on young single and couple households.
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The partnership gives Citizen Kanebridge members priority access to elite rallies, track days and Formula 1 hospitality, beginning with the Australian Grand Prix.
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Citizen Kanebridge Car Club has announced a major new partnership with Bullrush Rally, Australia’s leading automotive lifestyle community, unlocking a powerful series of exclusive driving and motorsport experiences for its private members.
The collaboration will give Citizen Kanebridge members privileged access to Bullrush Rally’s coveted calendar, including supercar rallies, private track days, curated drive events and premium Formula 1 hospitality.
It marks a significant expansion of the club’s automotive offering and reinforces its position as a private members’ platform built around access, connection and exceptional experiences.
“This partnership with Bullrush Rally represents exactly the type of exclusive opportunities Citizen Kanebridge was created to deliver,” Marwan Rahme, CEO of Kanebridge Media, said.
“Bullrush has built an extraordinary community around automotive passion and lifestyle, and we’re incredibly excited to give our members access to these experiences.
“It’s about creating unforgettable moments and bringing like-minded people together through shared passions.”
The first experience available through the partnership will see Citizen Kanebridge Car Club members offered access to the Bullrush Rally Suite at the Formula 1 Qatar Airways Australian Grand Prix in Melbourne on Sunday, March 8.
Positioned on Walker Straight with a private trackside balcony, the Bullrush Rally Suite offers prime views of the main straight alongside gourmet dining, premium beverages, live entertainment and exclusive hospitality.
Guests will also have the opportunity to meet Günther Steiner, the former Haas Formula One Team Principal and one of the sport’s most recognisable figures, following his starring role in Netflix’s global hit series Drive to Survive.
Known for his candid leadership style and pivotal role in establishing the Haas team in Formula 1, Steiner has become one of the most influential and charismatic personalities in modern motorsport.
Founded in 2014, Bullrush Rally has grown into one of Australia’s most respected automotive communities, bringing together successful entrepreneurs, executives and enthusiasts through curated rallies, track days and high-end lifestyle events.
Beyond its luxury experiences, the organisation has raised more than $250,000 for charities supporting sick children, mental health initiatives and medical research across Australia.
Through the new partnership, Citizen Kanebridge Car Club members will gain priority access to Bullrush’s flagship events, including multi-day rallies, Formula 1 hospitality suites, exclusive track days and private member-only gatherings.
The collaboration represents a significant evolution of Citizen Kanebridge’s automotive offering, positioning the club at the centre of Australia’s most exclusive driving and motorsport experiences, while continuing to deliver the access and opportunities that define the private members’ platform.
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