Bridging the gap between renting and owning your own home, Assemble offers quality, flexibility and sustainability

Property values have reached new heights this year, with property intelligence group Corelogic reporting values grew at their fastest rate nationally in 17 years – the most significant month-on-month increase since 2003. While lower interest rates, the Homebuilder Grant and stamp duty concessions were a lifeline for most during 2020, this year major banks have declared that Australia is on the “cusp of a housing boom” – forecasting 16 per cent price rises across the next two years.

Within Australia’s largely binary property market, this can push renters even further away from their dreams of property ownership. Kris Daff, managing director of Assemble, says that Australians either purchase a property or they rent; “There’s nothing really in the middle.”

Assemble Futures introduces a new property-ownership model. Unlike traditional rent-to-buy models where tenants pay above market rental rates to go towards a deposit, Assemble clients are invited to sign up for a five-year lease (at a pre-agreed market rate) with the option to purchase the apartment at the end of the lease period at the fixed price – protecting them from future shifts in the market.

In addition to the two years needed to complete construction, this grants purchasers seven years to save up for a deposit while settling into their new home. Or if circumstances change, they can opt to give back the keys at the end of the initial 12-month lease. The team also offers complimentary financial coaching for residents to help them achieve their savings goals.

Daff explains the Assemble Futures housing concept has been popular among Melbourne’s first home buyers seeking secure, long-term housing. “We’re witnessing the strongest growth in property values in our history, rising at their fastest rate in almost two decades, and as a result, we’ve reached a crisis point in housing affordability.”

“Our housing concept, Assemble Futures, takes the volatility out of the market and provides absolute price certainty for our clients over the term of the lease and the end purchase price. This latest project provides those with a moderate annual income an opportunity to save for a home deposit, know they have the security of tenure and live in the heart of the Brunswick community in a quality designed apartment,” Daff continues.

Assemble’s newest project, 4 Ballarat Street, Brunswick, is the developer’s third rent-to-buy offering following two similar complexes in Kensington. Driven by sustainability principles and a key focus on community, these developments offer several communal spaces and amenities to be used and enjoyed by all residents.

Dedicated spaces to work from home, communal gardens, children’s playgrounds and outdoor washing lines have been prioritised by the developer and clearly reflect Assemble’s principles. Multi-purpose workshops, complete with workbenches, shared tools and a wash sink offer spaces for odd jobs while the lending library houses rarely-used items. The design intent is to help residents save money – after all, why spend money on a step ladder, a slow-cooker or tools for your bike when these items can easily be shared among neighbours?

There’s also a generous bike storage for a more sustainable lifestyle outside the development, as well as personal health and wellbeing spaces to keep residents active. Targeting a minimum of 7.5 star NatHERS-rating, the apartments are fully electric, powered by 100 per cent renewable energy, and features integrated bio-composters to turn organic waste into fertiliser for the garden. 

For more information on 4 Ballarat Street Brunswick, click here.