Victoria was presented as the clearest example of what happens when property taxes rise quickly, after the state added a short stay levy, a windfall gains tax and a statewide vacant residential land tax within months. The Real Estate Institute of Victoria estimated one in four owners sold during the year, and PIPA reported net individual investor numbers had almost halved since 2015 to under 30,000.
Reported by
James Kirby, The Mercury, 10 November 2023
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