The build-to-rent (BTR) sector is continuing to surge with new figures showing more than 4,300 apartments were added to the market in 2024.
And Knight Frank predicts more will be delivered in 2025 with about 8,900 dedicated BTR apartments under construction in Australia and a further 20,000 approved for development over the next five years.
Victoria is the leader of the sector with 25,538 units either completed, under construction or planned as of the fourth quarter of 2024.
At the same time, New South Wales has 15,089 and Queensland 14,390 units.
Knight Frank partner John Paul Stichbury says the sector has been growing steadily since 2018 with 19,308 apartments either delivered or under construction, and a further 40,191 planned.
He says smaller markets are also embracing Build-to-Rent including the ACT where 1,723 units are either completed, under construction or planned. Western Australia and South Australia have 1,568 and 1,191 units respectively completed, under construction or planned.