Citylife International is a private Australian real estate agency, advisory and consultancy company, with a focus on selling units in the St. Kilda Road precinct of 416, 416A and 418
The tenants attracted to BTR naturally will vary from development to development.
Location, based on where people want to live is important, but so is the rental price, and the amenities in the development.
As Australia has so few completed BTR projects, it is not yet known what the actual demographic is likely to be. Aurient Limited has been researching the market and advising selected private developers.
It is our belief, that in Australia, many of the huge BTR projects are targeting the wrong demographic, and they may not be as succesful as they hope.
As the UK BTR market is about a decade ahead of Australia's, we analysed who is attracted into BTR projects as tenants in the UK , as we feel Australia is highly likely to follow this trend.
In summary, based on a study of 10 completed and established UK BTR projects in London, we found that:
-92% of all tenants were below 44 years old, with 79%
below 34
-50% were couples and singles. Sharers were the next biggest group at 38%, with families making up just 12%
-Build-to-Rent has comparative levels of affordability to the private rented sector for all tenancy types
but was notably more affordable for couples and sharers
