Brighter future for Victoria’s built environment with Build-to-Rent

gbca victoria

In supporting the establishment of a new build-to-rent housing sector in Victoria, the Victorian Government is opening the door for industry to deliver more affordable, sustainable and liveable housing for Victorians, according to the Green Building Council of Australia (GBCA).

GBCA CEO Romilly Madew said the announcement was timely, during World Green Building Week, which promotes a global focus on building greener buildings and communities with 2018 theme is “home green home”.

“To see the Victorian Government stepping up with a plan to support the establishment of a new asset class that will provide major environmental and social dividends is encouraging,” Ms Madew said.

“The institutional investment we have seen in world-leading sustainable commercial buildings can now translate into the residential sector.”

Ms Madew said the investor market for sustainable property development was growing, with increasing investor understanding of the fact that green buildings are not only good for the environment and their occupants, but also financially sustainable.

“The emergence of a build-to-rent asset class will accelerate this transformation with investors motivated to ensure that new stock is resilient, that tenants’ needs are prioritised and that ongoing operating costs are minimised,” she said.

“This alignment of interests will deliver terrific outcomes for communities as liveability and sustainability become must-have considerations of any new build-to-rent project.

“The Victorian Government’s focus on incentivising the provision of more social and affordable housing is particularly welcome.

“We hope other governments follow Victoria’s lead and we look forward to engaging and collaborating with key stakeholders moving forward.”

Source: GBCA