Over half of Australian renters feel stuck with no choice but to rent, as 4 in 10 believe they won’t be able to buy a home in the next five years, according to a new survey released today.

As Parliament reconvenes, the nation’s peak housing groups are urging Senators to pass build-to-rent legislation with critical amendments to expand the supply of rental housing.

The joint call from the Property Council of Australia, National Shelter and the Community Housing Industry Association said EY research shows if the legislation passes with proposed changes, 105,000 new homes could be delivered over the next decade, including 10,500 affordable rentals – a significant boost to housing supply during a national crisis.

Over 60 per cent of Australians support the build-to-rent legislation with the industry bodies’ proposed amendments, rising to 71 per cent among renters. Only 13 per cent of respondents opposed the proposal.

The YouGov survey of over 1,500 Australians for the Property Council shows nearly eight in ten Australians feel there is a lack of affordable housing in their area, with housing affordability the second-highest concern among respondents, coming just after cost of living.

The survey comes out as the Australian Government has in front of the Senate a scheme that would allow build-to-rent projects, which are apartments owned and developed specifically for renters, to be invested in as easily as commercial property.

Property Council of Australia Chief Executive Mike Zorbas said the Senate must seize this historic opportunity to address the housing shortage.

Full media release here