“After all,” Ozzie says, “our tagline is ‘Property Revolutionised.’” By adopting the built-to-rent scheme at Eynesbury, and in other developments, Resimax Group hopes to lead the way for all developers in Australia’s detached housing market. “There is enormous potential in the buildto-rent sector as an alternative to traditional homeownership and conventional rental properties; however, the detached housing market has been slow to adopt this scheme in Australia. As a business, we’ve refined our model to leverage this opportunity,” Ozzie says. “At Resimax Group, we have a long-term investment in our developments and communities, beyond reaching settlement. By maintaining an ongoing stake in our developments, we can maintain a unique level of control over the quality and value of stock.” “Looking into the future, we see this designated pool of rental stock as being part of the full lifecycle of our development strategy. The objective of our build-to-rent program is to house tenants in our communities, then transition them into homeowners over time.” Research last year from the Australian Bureau of Statistics showed a 15 per cent increase in the amount of lifelong renters aged 25-to-39, when compared to the previous 20 years. Ozzie sees entering the build-to-rent space as a good way to help combat that deepening rental crisis – though he acknowledges it’s not a crisis they can combat alone. “Despite difficulties in the sector, such as growing taxes and delivery costs, Resimax Group is committed to pursuing our build-to-rent development strategy,” he says. “By retaining a percentage of stock in our developments for rentals, we’re able to contribute a pool of brand new, family-sized homes to a broken rental market that is in desperate need of supply.” “However, continued investment and support from state and federal governments is critical for ensuring more developers pursue build-to-rent, and rental supply can grow in line with Australia’s growing population.” NOVEMBER 2024
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