Find a QPIA® adviser Join PIPA

Home › Newsroom › Press coverage

Thousands of Melbourne CBD home projects at risk of being shelved as industry warns Victorian government about tax fallout

Press coverage 19 August 2024 Summary of published coverage
Thousands of Melbourne CBD home projects at risk of being shelved as industry warns Victorian government about tax fallout

Researchers warned that about 5,600 apartments across 30 Melbourne CBD projects risked stalling or being abandoned, with the City of Melbourne counting 16,000 approved but unstarted dwellings. Industry groups blamed construction and finance costs compounded by higher development and investment taxes, including the doubled absentee owner surcharge, and the removal of off-the-plan concessions. They urged the state to restore incentives to meet its housing targets.

Reported by

Nathan Mawby, The Chronicle, 17 August 2024

Read the original article

PIPA has summarised this coverage for members. Copyright in the original article remains with its publisher.

From the association

Our digital PIPA Adviser Magazine

PIPA runs its own annual survey of property investors and publishes the results in full. It is the evidence behind most of what you have just read.

Tell us where to send it and you will have the Investor Sentiment Survey now, and the next one when it is published. Unsubscribe in one click.

Send me the Investor Sentiment Survey

More from the newsroom

Browse the full newsroom

Raise the standard, or find someone who already has.

Join PIPA to be held to a professional standard your clients can verify. Or tell the PIPA team what you need and be matched with an accredited adviser.

Join PIPA Find a QPIA® adviser