Nearly 90 per cent of real estate agents in Victoria have had an increase in contact from landlords (residential rental providers) who are looking to recover increased costs as a result of the Victorian Government’s new and increased land tax on investment properties.
The Real Estate Institute of Victoria (REIV) has today criticised the land tax increases announced in the State Budget, saying they will only worsen the current rental crisis facing Victorians.
Commonsense prevailed in Parliament this week when a Greens motion for a rental inquiry and ‘rental control’ was voted down.
Tomorrow the Greens will table in Parliament a motion to ask the Legal and Social Issues Committee to establish an inquiry into the current ‘rental crisis’.
The Real Estate Institute of Victoria (REIV) has announced a partnership with data technology business PointData.
In an effort to create more efficient and equitable tax distribution, and enable greater housing accessibility, the Real Estate Institute of Victoria (REIV) is calling on the Victorian Government to replace property stamp duty with a broad-based tax.
The Victorian property market is showing signs of stabilisation this quarter. The Metropolitan Melbourne median house price recorded a marginal drop of 1 per cent to $955,500 in the March quarter while units recorded a 1.8 per cent drop to $611,000.
REIV CEO Quentin Kilian discusses the need for sweeping property tax reforms to address Victoria's rental crisis.
Last week, the property sector, and no doubt most Victorians active in the property market, welcomed a long overdue announcement of an inquiry into residential stamp duty tax in Victoria.
REIV senior auctioneer of the year Luke Banitsiotis will take the reins of this year’s Good Friday Appeal (GFA) Charity Home Auction by Villawood Properties and Henley at Coridale, Lara.