Build-to-rent developments and what they offer tenants

Two build-to-rent complexes opened their first tenancies this month in Canberra’s northern growth corridors, giving renters access to three-year leases, on-site gyms and bundled utilities at rents starting from $520 a week for a two-bedroom unit.

The timing matters because the national housing accord has stalled on new supply targets while ACT vacancy rates sit below 2 per cent and auction clearance rates hover around 65 per cent, pushing more public servants to delay purchases even as median house prices remain at $835,000.

Projects in Gungahlin and Belconnen corridors

One scheme sits on the former CSIRO site off Gundaroo Drive in Gungahlin, where 280 apartments are managed under a single operator that handles maintenance requests within 24 hours and caps annual rent rises at 3 per cent for the lease term. A second project near the Belconnen Town Centre, close to Lake Ginninderra, offers 180 units with co-working spaces and electric-vehicle charging included in the weekly rent, targeting the large number of federal employees who commute to Civic offices.

Both developments sit inside the ACT government’s designated growth areas where planning approvals were fast-tracked under the 2024 housing strategy, allowing operators to bypass some standard strata fees that add to costs in older apartment blocks.

Cost comparison with ownership

At current interest rates a $835,000 house in the same corridors carries monthly repayments above $4,800 after a 20 per cent deposit, while the build-to-rent units deliver a net saving of roughly $1,100 a month once utilities and parking are factored in. Tenants also avoid stamp duty and land-tax bills that hit buyers of established homes in suburbs such as Turner and O’Connor.

Prospective renters can inspect the Gungahlin site on weekends through the operator’s booking portal or visit the Belconnen display suite at the corner of Benjamin Way and College Street before committing to a lease. Those still weighing ownership should check the latest ACT Housing Affordability Report due for release next quarter to compare long-term equity gains against the stability now offered in these managed rental buildings.

This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.