# Build-to-Rent moves from niche to necessity in Australia: analyst

- **Source:** Real Estate Asia
- **Published:** 2026-07-06T23:04:43.000Z
- **Author:** Staff Reporter
- **Original:** https://realestateasia.com/residential/in-focus/build-rent-moves-niche-necessity-in-australia-analyst
- **Topics:** Government & Policy, Investment & Capital Markets, Regional Markets

## Featured rationale

Stable rental income and long-term demand may attract more institutional capital, although construction costs, feasibility constraints and inconsistent planning could limit near-term supply growth.

## AI summary

Australia's chronic rental undersupply and shifting policy settings are making Build-to-Rent an increasingly important housing-supply channel, according to Cushman & Wakefield.

## Original article

The country’s rental supply gap strengthens the outlook for Build-to-Rent.

Australia’s Build-to-Rent (BTR) sector is moving from a niche investment class to an increasingly essential component of the country’s housing supply response, as chronic undersupply and shifting policy settings place further pressure on the private rental market, according to Cushman & Wakefield.

The consultancy said Australia continues to deliver significantly fewer homes than required to meet population growth and housing demand, contributing to sustained rental growth across major cities. Recent federal budget proposals may further complicate supply dynamics by potentially reducing investor participation in traditional residential housing and slowing the turnover of existing rental stock.

Conal Newland, International Director and Head of Living, APAC at Cushman & Wakefield, said the key challenge is now centred on scaling capital sources capable of delivering housing supply.

“The challenge today is not just population growth or rental demand. It is ensuring Australia has enough sources of institutional and private capital willing to fund new housing delivery at scale,” Newland said.

He added that Build-to-Rent becomes increasingly important if private rental supply becomes harder to deliver or less attractive for investors, particularly as institutional housing models gain momentum globally.

Cushman & Wakefield said Australia’s multifamily and BTR sector has evolved over the past decade from an emerging concept into a recognised asset class, attracting growing interest from domestic and international investors. Institutional capital is increasingly drawn to the sector due to stable rental income, demographic tailwinds and long-term housing demand fundamentals.

The consultancy noted that Japanese investors have been particularly active in Australia’s living sector, reflecting confidence in structural housing demand despite near-term market volatility.

Newland said investors are focusing on long-term fundamentals rather than short-term conditions, with continued capital allocation reflecting confidence in population growth, rental demand and the maturing nature of Australia’s living sector.

However, Cushman & Wakefield warned that challenges remain, including elevated construction costs, feasibility constraints and the need for stronger rental growth in some markets to support new development. Differences in planning systems and tax regimes across jurisdictions also continue to create complexity for investors.

Newland said improved planning certainty, faster approvals and greater policy consistency will be essential if the sector is to reach its full potential.

He added that Build-to-Rent is increasingly becoming a core component of global institutional portfolios, but stressed that it is not a standalone solution to Australia’s housing challenges.

“As Australia continues to confront housing affordability and supply challenges, Build-to-Rent will not be the sole answer. But it is rapidly becoming one of the most important pieces of the solution,” Newland said.

## Chinese translation

> Translation model: grok

### 分析：澳洲建租一体从利基走向必需

澳洲建租一体（BTR）板块正从利基投资类别，转变为国家住房供应应对中日益关键的组成部分

该国租赁供应缺口强化了建租一体的前景。

据Cushman & Wakefield，随着长期供应不足与政策环境变化进一步施压私人租赁市场，澳洲建租一体（Build-to-Rent，BTR）板块正从利基投资类别，转变为国家住房供应应对中日益关键的组成部分。

该咨询机构表示，澳洲新建住房交付量持续明显低于满足人口增长与住房需求所需水平，推动主要城市租金持续上涨。近期联邦预算提案或进一步复杂化供应格局——可能减少投资者参与传统住宅，并减缓现有租赁存量的流转。

Cushman & Wakefield亚太区Living业务国际董事兼主管Conal Newland表示，当前关键挑战在于扩大有能力交付住房供应的资本来源规模。

Newland称：“今天的挑战不只是人口增长或租赁需求，而是确保澳洲拥有足够的机构与私人资本来源，愿意以规模化方式为新建住房交付提供资金。”

他补充说，若私人租赁供应更难交付或对投资者吸引力下降，建租一体将变得愈发重要，尤其是机构住房模式在全球正获得动能。

Cushman & Wakefield称，过去十年，澳洲多户住宅与BTR板块已从新兴概念演变为获认可的资产类别，吸引越来越多国内外投资者。机构资本因稳定租金收入、人口红利与长期住房需求基本面，日益被该板块吸引。

该机构指出，日本投资者在澳洲Living板块尤为活跃，反映出尽管短期市场波动，其对结构性住房需求仍具信心。

Newland表示，投资者更关注长期基本面而非短期状况，持续资本配置体现了对人口增长、租赁需求以及澳洲Living板块日趋成熟的信心。

不过，Cushman & Wakefield警告挑战犹存，包括高企的建造成本、可行性制约，以及部分市场需要更强租金增长才能支撑新开发。各司法管辖区规划体系与税制差异也持续增加投资者复杂性。

Newland称，若板块要充分发挥潜力，提升规划确定性、加快审批以及提高政策一致性至关重要。

他补充说，建租一体正日益成为全球机构组合的核心组成部分，但强调它并非解决澳洲住房挑战的单一方案。

Newland称：“随着澳洲持续面对住房可负担性与供应挑战，建租一体不会是唯一答案，但它正迅速成为解决方案中最重要的一环。”