Key2 Realty Leading the Charge as Build to Rent Gains Momentum

Key2 Realty continues to establish itself as an expert in the emerging build-to-rent (BTR) affordable housing market in the Central Coast, Newcastle and Hunter regions. As a social enterprise real estate agency, Key2 Realty is excited to witness the growing momentum and support from government bodies and organisations like the Business Council of Australia. With the BTR affordable housing market gaining traction, it is poised to create a positive impact broadly across the community.

Federal Government Support and Incentives:

The recent Federal Government’s May 2023 budget reflects further steps towards the fostering of a BTR sector. Notable measures include a reduction in the withholding tax rate for eligible fund payments from managed investment trusts attributed to newly constructed, conditional BTR developments. Additionally, the capital works tax deduction rate has been increased, enhancing after-tax returns for BTR projects. These incentives aim to attract scale investors and foster further growth in the market.

The Importance of Affordable Housing on the Central Coast:

Lawrie McKinna, Chair of Regional Development Australia Central Coast, emphasises the need to explore innovative approaches to address the critical issue of affordable housing in the community.

“Affordable housing is a critical issue in our community on the Central Coast. We need to find sustainable solutions, and community housing providers can play a big role with the right financial support. Together with Pacific Link Housing, RDA Central Coast is leading a taskforce to investigate regional housing affordability on the Central Coast.”

Expert Insights from Key2 Realty:

Larissa Llowarch, Business Manager of Key2 Realty, highlights the agency’s dedication to managing BTR affordable housing on behalf of developers.

“At Key2 Realty, we understand the unique challenges faced by developers looking to retain their stock, and the importance of delivering a diversity of housing options. Our expertise lies in navigating the complexities of the build-to-rent market for developers, from high-end market through to affordable and sustainable housing options for the community.”

Business Council of Australia’s Call for Action:

Recognising the urgency of the housing crisis, the Business Council of Australia has called for a National Summit on Build to Rent. In their recent media release titled ‘Housing Australia’s Talent,’ they stress the significance of innovative housing products like BTR in providing attractive long-term renting alternatives to home ownership.

Jennifer Westacott, Chief Executive of the Business Council of Australia, emphasises the need for a clear plan to increase new housing supply in line with population growth.

“Our Housing Australia’s Talent paper lays out key recommendations to fix housing affordability and access to low-cost housing with a new focus on build-to-rent projects and increased access to finance for community housing providers.”

Conclusion:

Key2 Realty remains at the forefront of managing BTR residential housing across the Central Coast, Newcastle and Hunter regions. With government support and increasing recognition from esteemed organisations like the Business Council of Australia, the BTR sector is poised for significant growth.

By addressing the critical issue of the current under-supply of housing and providing innovative solutions, BTR developments offer a promising path towards meeting the housing needs of communities. Key2 Realty remains committed to driving positive change in the BTR housing market, ensuring a brighter future for tenants and landlords alike.