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Allhomes will now allow would-be tenants to search specifically for build-to-rent properties.
The Canberra-based listings portal, which is owned by Domain, has launched the feature to make it easier for property searchers to surface build-to-rent (BTR) homes, in an effort to promote this burgeoning rental subsector.
Given that BTR properties are constructed with the intention of always being made available on the rental market, Allhomes made the case that many tenants may want to seek out these specific properties due to their relative stability in a volatile market.
Allhomes launched the new feature on 1 August, reporting that it was able to funnel the first consumer leads to listing administrators within an hour.
Noting that the BTR market is admittedly in its infancy in Canberra, Allhomes general manager Kaaren Lewis said that the platform was looking to support the sector by creating a dedicated pathway for consumers to express their interest in BTR.
Lewis added that the firm worked in close consultation with the industry to deliver the new function.
“We sought input from leading build-to-rent developers both locally and nationally to help craft our solution,” she said, noting that initial feedback had been overwhelmingly positive.
Domain CEO Jason Pellegrino commented that the firm hoped to see BTR expand in the Australian market following a surge of new projects announced for Melbourne, as well as Canberra.
He said that Canberra had been identified as having the right market dynamics in which to launch a dedicated BTR feature, due to its “higher than average vacancy rate and a growing and diversifying population”.
For BTR developer Amalgamated Property Group, they’ve already seen the benefit of Allhomes’ BTR offering, with the group’s development manager, Daniel Potts, commenting that the feature allowed the group to “easily communicate the standout features at our newest BTR”.
“Since our release of Oaks Canopy on Allhomes’ new portal, we’ve received very high quality enquiries and have already developed a solid waitlist for the new apartments which open in just a few weeks’ time,” Potts said.
Both Potts and Lewis said they hoped the feature would help educate consumers about BTR as a housing option that might suit their needs.
“It’s the next step in Canberra’s, and eventually Australia’s BTR evolution, as it enables more effective education of renters so they have a true understanding of what it is and appreciate its benefits,” Potts said.
ABOUT THE AUTHOR
Juliet Helmke
Based in Sydney, Juliet Helmke has a broad range of reporting and editorial experience across the areas of business, technology, entertainment and the arts. She was formerly Senior Editor at The New York Observer.
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