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Property investors are fleeing Victoria over soaring land taxes

Press coverage 10 June 2024 Summary of published coverage
Melbourne

Australian Bureau of Statistics lending data for April showed investors took only 30.6 per cent of Victorian housing loans, the lowest share among the mainland states, while Victorian first home buyers accounted for 24.9 per cent, the highest nationally. PIPA chair Nicola McDougall attributed the shift to the 2023 land tax increase and rising costs, warning a smaller rental pool would prolong rent increases.

Reported by

Josh Gordon, The Age, 9 June 2024

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