AUSTRALIAN INSTITUTE OF BUILDING: RESPONSE TO NSW GOVERNMENT RENT TO BUY INITIATIVE

The Australian Institute of Building welcomes the initiative of the Berejiklian government in recognizing the importance of investors to the vital residential building sector.  Geoff Dart, Executive Director, comments.

”With occupied home ownership in long term decline, not enough recognition has been given to the growing number of folk choosing to rent their homes for a number of socio-economic reasons. Rented households account for more than one-third of Australian households and expected to surpass those occupied by owners by 2050.

Paralleling European trends, we are now seeing  the emergence of the “Rowner”, the folk who enter into a longer term lease and prepared to do make-overs in order to personalise what they regard as home, and quite rightly so.  Landlords generally lag in this regard with the build-to-rent model of long term leasing gaining traction.

We need to encourage investment in our housing sector and recognize social needs as the driver of change.”

Geoff Dart
Executive Director
Australian Institute of Building