Melbourne recorded the weakest capital city price growth since 2020 at about 11 per cent, roughly a third of the national result, as around 300,000 investors prepared to receive their first land tax bills. PIPA chair Nicola McDougall said investment numbers in the state were falling sharply, and advisers estimated the new taxes absorbed about 10 per cent of annual income from a rental property.
Reported by
James Kirby, The Australian, 17 Marc
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