Released 13/10/2022 - Joint media release
The ACT’s first Build-to-Rent site in Turner was released for sale today, which will help to deliver more rental properties and housing options for residents in the ACT.
The ACT Government is working to improve the affordability, diversity and supply of housing to help keep pace with Canberra’s growing population.
The site in Turner (Block 3 Section 57) is being sold by the Suburban Land Agency (SLA) via a tender process, with at least 15 per cent of dwellings required to be affordable rentals to eligible tenants. The site was chosen due to its proximity to light rail and the City Centre.
The Build-to-Rent model is designed to improve outcomes in the rental market by increasing housing stock and delivering a large number of properties purpose-built for long-term rental.
Canberra offers the perfect opportunity for Build-to-Rent, with low vacancy rates, steady revenue generation and a stable workforce.
Visit the Suburban Land Agency website to see sale details.
More information is also available in the Build-to-Rent Prospectus available here.
This initiative is part of the ACT Labor-Greens Parliamentary and Governing Agreement of the 10th Legislative Assembly.
Quote attributable to Chief Minister Andrew Barr:
The Build-to-Rent project in Turner will provide purpose-built and long-term rental housing, helping to improve housing choice and affordability in our city.
It also offers a great investment, with the ACT tax system supportive of Build-to-Rent developments where there is no unit titling of the individual dwellings through substantially reduced land tax and general rates.
We want to see more Build-to-Rent projects in the ACT, and the ACT Government will be pursuing private investment into these projects over the coming years.
Quote attributable to Minister for Housing and Suburban Development Yvette Berry:
The ACT Government remains committed to addressing housing affordability for Canberrans. Build-to-Rent will help to improve rental supply and affordability with longer term security for tenants.
Homes will be specifically designed to meet renters’ needs, will increase housing choice as well as diversity across our city.
This project complements other housing initiatives outlined in the 2022-23 ACT Budget and delivers a key action under the ACT Housing Strategy.
- Statement ends -
Andrew Barr, MLA | Yvette Berry, MLA | Media Releases