Victoria has been dubbed the nation’s worst state for landlords and faces economic headwinds and housing shortages as population growth soars. Full details:
The REIV members survey also revealed seven in 10 had heard from landlords considering selling since the budget announcement in May.Treasury intends to reduce the threshold for land tax payments from $300,000 to $50,000, as well as creating a fixed charge from $500 to $3675 depending on a property’s value as they seek to recoup Covid-era budget losses.
It’s less than half the 51,574 recorded in the 2017-2018 financial year, and far below the peak of more than 100,000 in the years before the global financial crisis earlier this century.
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