New South Wales Labor to Address Affordability Crisis With $30 Million Build-to-Rent Scheme

A lease sign is displayed outside a home in Edmondson Park in Sydney, Australia, on April 28, 2016. Brendon Thorne/Getty Images

New South Wales (NSW) Labor has promised to deliver a $30 million (US$21 million) build-to-rent pilot scheme to increase the supply of rental homes to tackle the growing affordability crisis ahead of the next state election.

“Teachers, doctors, and tradies are forced to live in cars in the regions because they can’t find rentals,” NSW Labor leader Chris Minns said on social media. “This is a crisis—and we’re going to act.”