The Build-to-Rent (BTR) sector is gathering pace, with nearly 30,000 apartments now either under construction or in the planning pipeline across the country.

Fresh analysis from advisory firm BDO reveals the market has expanded by almost $9 billion — a 40% increase — in just the past 12 months. The boom is concentrated on Australia’s east coast, where population growth, rental shortages, and changing lifestyle preferences are fuelling demand for this long-term rental model.

Victoria leads the way with 12,396 BTR apartments underway or approved, followed by New South Wales with 10,758and Queensland with 3,886. The other states and territories are playing a smaller role: Western Australia (535), ACT(305), and South Australia (240).

BDO’s Luke Mackintosh says BTR is no longer an experimental niche but a central strategy for investors seeking stable returns. “As the lines blur between traditional commercial and residential investment, the living sector is becoming a key pillar of the real estate market,” he explains.