Build-to-Rent Developments Promise Flexibility for Templestowe Tenants

Build-to-rent projects are gathering momentum across Templestowe, offering tenants amenities and lease security that traditional rental homes rarely match.

The surge in build-to-rent schemes arrives just as the divide between renter and buyer affordability is widening in Templestowe. In quarter two of 2026, the median asking price for a two-bedroom apartment in Templestowe reached $772,000, according to local agency Bennett & Co. In contrast, median weekly rents for new build-to-rent units have settled around $585, data from the Templestowe Residential Letting Report (May 2026) shows. As many first-time buyers struggle to meet deposit requirements or service rising mortgage rates, demand for quality, professionally managed rental accommodation has soared.

Where Templestowe Tenants Are Choosing Build-to-Rent

The Cressida Residences on Burgundy Drive and Maple Quarter on Holman Street are two of the largest build-to-rent communities to open their doors this year. Unlike legacy investment properties scattered across neighbourhood pockets, these developments are purpose-designed for tenants. Residents at Cressida can access co-working lounges, rooftop gardens and an integrated parcel room, all managed on-site. Maple Quarter, meanwhile, offers pet-friendly leases and flexible 18-month contracts-rare in the city’s private rental stock. Both are within walking distance of Westgate Park and the Hive civic centre, catering directly to renters who value location and long-term stability over outright ownership.

According to the city’s 2026 Housing Strategy report, over 280 build-to-rent units were completed in Templestowe in the past year alone, with a further 410 slated for completion along Grattan Avenue and Roseland Place by early 2027. These purpose-built assets typically offer tenants extended lease options, professional management, and in some cases, all-inclusive utilities or memberships to on-site gyms and social spaces.

Affordability and What’s Next

Recent figures from Templestowe Property Market Review (June 2026) indicate that the median annual rent for a new build-to-rent apartment is roughly $30,420, about 3% lower than comparable individual apartment tenancies in the central precinct when factoring in included amenities. For many, especially those unable or unwilling to commit to a hefty down payment, build-to-rent means predictable costs and fewer hassles with private landlords.

Looking ahead, the City of Templestowe is reviewing planning rules to encourage further build-to-rent investment. Potential tenants considering these new builds should compare in-house services, lease flexibility, and included extras against standard private rentals. With projects like Hillside Crescent Residences due for completion in early 2027, the options for renters are set to expand even further-reshaping the local debate on living affordability well into the next decade.

This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.