Finally some good news in the housing crisis: Melbourne, our most liveable city, is now the cheapest capital to rent a house in Australia — average house rents actually dropped 1.7% to $580/week while everywhere else keeps climbing.
Why? Victoria's stronger supply of new homes + 'harsh' tax settings on investors (higher fees, vacancy taxes pushing properties onto the market) have scared off speculators and forced more realistic pricing for renters. Investors fleeing to NSW? Good — let them speculate elsewhere.
The real headline should've been: 'How to tax property to benefit all — Victoria leads the way'

#HousingCrisis #TaxTheRich #VictoriaLeading

https://www.sbs.com.au/news/article/how-did-australias-most-liveable-city-become-the-most-affordable-to-rent-a-house/hw9jrpncd
More of this please, not less.

Finally some good news in the housing crisis: Melbourne, our most liveable city, is now the cheapest capital to rent a house in Australia — average house rents actually dropped 1.7% to $580/week while everywhere else keeps climbing.
Why? Victoria's stronger supply of new homes + 'harsh' tax settings on investors (higher fees, vacancy taxes pushing properties onto the market) have scared off speculators and forced more realistic pricing for renters. Investors fleeing to NSW? Good — let them speculate elsewhere.
The real headline should've been: 'How to tax property to benefit all — Victoria leads the way'

#HousingCrisis #TaxTheRich #VictoriaLeading

https://www.sbs.com.au/news/article/how-did-australias-most-liveable-city-become-the-most-affordable-to-rent-a-house/hw9jrpncd
More of this please, not less.