In May 2020 Sydney’s rental market was described as ‘very much a tenants market right now, it’s probably the biggest tenants market I’ve seen in my last 20-years’, said Louis Christopher, Managing Director, SQM Research.
THAT no doubt was due to the huge job losses from the Pandemic as tenants had to move out … return to family … become homeless … consequently Landlords had to cut rents to find new tenants …
WILL this lead to more SUPER FUNDS investing in not just Build to Rent BUT Build to Rent to Buy?
IT appears that AUSTRALIAN SUPER is leading the way by investing 25% in Assemble Communities, an ‘affordable build-to-rent developer’!
WITH a Whole Cohort of Australians locked out of home ownership prior to the Pandemic … that this HOUSING AFFORDABILITY CRISIS has only worsened now!
THIS would seem to be the logical solution to the housing affordability predicament. Recall years ago Public Housing Tenants were able to buy their home over time!
WILL the Morrison Government invest and transform the tax system to enable this sector to thrive for Australian First Home Buyers?
BECAUSE this Government has come in for much ridicule for their “HomeBuilder” scheme …
Note how Geoff Hamner, Brendan Coates and others sum it up!
‘HomeBuilder Residential Housing Stimulus Package’
AND from Michael West: ‘HomeBuilder: a sneaky plan for the Coalition’s franking credits crew to collar the pension?’
Developer, Assemble Communities wants 60 to 70% of their projects to be affordable housing.
WILL the Morrison Government join Australian Super, and invest? And would this Government ensure that only Australian citizens could access this housing?
ACROSS SYDNEY and MELBOURNE … many suburbs have had a complete demographic change through foreign investment … with obvious consequences … and if this Cohort of Australians locked out of the housing market were in fact given the opportunity to enjoy HOME OWNERSHIP … that this might create better social cohesion!
AND like housing projects would create jobs and boost our economy …
The model allows tenants to rent for five years to progress to buying at an agreed fixed price when they entered the lease.
-fund members in receipt of a good return
-affordable housing for Australian workers
The difficulty to be overcome is the extreme financialisation of land!
-build to rent developers are at a disadvantage compared to mum and dad investors in private rentals
WHAT is needed is for the Scomo Government to deliver incentives to increase the growth of this sector and hence reduce pressure on the investors to reduce the cost of these apartments
THIS would ensure the viabililty, profitability of the property sector and benefit Australians locked out …
ISN’T it time to implement and enforce the second tranche of the Anti-Money Laundering Laws for the Real Estate Gatekeepers … ??