The Victorian Government recently announced on the weekend that they will support Build-to-Rent (BTR) dwellings as a method to improve housing affordability for Victorians.

Master Builders supports the government’s move, viewing BTR as a viable option to improve housing affordability. It is a move for which Master Builders has long advocated, as part of our policy for greater incentives to create different housing options in the cause of improved housing affordability.

There are many other benefits of build-to-rent for Victorians; its stands to improve not just affordability through greater housing supply, but introduces a building scheme that will result in the creation of a new asset class, purposely built for renting. This will provide greater security of tenure for renters and support aspiring home owners by removing the cost associated with the need to move.

As part of this announcement, the Government also noted they are seeking to establish an industry working group as part of their desire to support BTR in Victoria. Master Builders supports this and will be seeking involvement in the group.

Please click here for the Victorian Government’s media release on Build-to-Rent.