Build to rent in NZ - why not?
In recent times we have seen the ‘Build to Rent’ (BTR) opportunity rapidly grow to prominence within property industry discussions at conferences and in the New Zealand media. This is perhaps of little surprise given the niche residential rented sector’s increasing emergence in the UK and Asia Pacific and long standing presence in the USA (where it is known and traded as multi-family housing investments).
By way of illustration, according to the British Property Federation, in January 2019 there were just over 139,500 designated BTR homes in the UK, whether complete (c.29,400), under construction (c.43,400) or in planning (c.66,700). Given that BTR didn’t exist before 2013 in the UK, this represents phenomenal growth. At the other end of the scale, in the USA, there are an estimated 4.4 million multi-family properties.
One thing is clear – there is a lot to play for as an industry if we get this right, and in New Zealand, it is imperative for our future generations that we start to actively widen the number of housing options available to New Zealanders. And one way to aid a smooth process is to learn from the successes and mistakes from others.
Download the report to find out how - with the right systems in place – Build to Rent has the potential to be a key part of reinventing housing solutions in New Zealand as we know it.