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The next Victorian government will have to contend with a $5 billion revenue hole being punched out of its budget.
VICTORIA
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Within days of Victoria requiring sellers to reveal their reserve prices before an auction, property agents started testing workarounds.
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Asking rents are rising in some of Victoria’s lesser-known regional towns as an exodus of investors reduces already limited rental stock.
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Some coastal areas and outer suburbs are bucking the slowing market trend, with clearance rates in parts of regional Victoria and NSW holding above 70 per cent …
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New figures reveal sharp falls in the volume of property sales in Victoria and NSW in the past two months.
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Victoria says it will introduce yet another mandate to make the property market more transparent.
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Echuca, Grafton and Emerald are three of 40 regional towns where it is cheaper to pay a mortgage than rent.
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Victoria has been labelled Australia’s most heavily taxed state when it comes to property.
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Regional homes are growing in value faster than those in Australia’s capital cities as affordability constraints push buyers out of urban areas.
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Victoria to force agents to publish property reserve prices in crackdown on underquoting (The Guardian)
Under the nation-first laws, real estate agents in Victoria will be required to disclose owner’s reserve price within seven days of sale or face penalties.
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AUDIO: Property council, Victorian executive director Cath Evans told Ross and Russ that the tax burden across the property sector is “very high”.
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From hot property to cautionary tale, the fallout in these once-booming burbs is brutal.
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