In September 2023, the Victorian Government released Victorian’s Housing Statement. It is an ambitious ten-year plan to build 800,000 new homes across the state to combat the current housing shortage that Victoria is experiencing. The REIV commends the government’s commitment to promoting housing provision and accessibility whilst improving housing affordability.
Housing affordability and availability
Key Documents
Victoria's Housing Statement
REIV response to the Housing Statement
Housing Statement
The REIV continues to be an integral advisor to the Victorian Government’s Housing Statement Industry Advisory Board. As the Housing Statement’s objectives continue to roll out alongside the Allan Government’s commitment to build 800,000 new homes across the next decade, it is key that industry figures contribute to its design and implementation.
The REIV is engaging with CAV and other stakeholders as they commence work on the design and development of Rental Dispute Resolution Victoria (RDRV).
It has been confirmed a review of the RTA is due to commence soon.
Inquiry into Rental and Housing Affordability Crisis in Victoria
The REIV submission to the Legislative Council Legal and Social Issues Committee’s Inquiry into the rental and housing affordability crisis in Victoria (Inquiry) outlines the REIV’s position on this important issue. There are a large number of factors contributing to the low availability and high cost of rental properties in Victoria, and they all ultimately relate to supply and demand. The single best solution for the state’s current so-called ‘rental crisis’ is to increase housing supply. Now.
The ecosystem that the Victorian rental market currently operates in, has led to a shortage of available rental properties and increased competition. To address this, there is a need to encourage more investment and increase the supply of available rental homes to meet rising rental demand.
Auction preview for the week ending 30 June 2024
The REIV is expecting about 1040 auctions in 292 suburbs this week.
Read moreNew Rates of Pay - Effective 1 July 2024
Following the Fair Work Commission's recent decision in the National Wage Case, the minimum award rates of pay will increase by 3.75%.
Read moreSale of Land (Public Auctions) Regulations 2024
The new Sale of Land (Public Auctions) Regulations 2024 are in effect as of the 23rd of June 2024, replacing the former Sale of Land (Public Auctions) Regulations 2014.
Read moreRental minimum standards: REIV warns significant increase to landlord costs in a short period will have dire impact on rental ecosystem
Auction preview for the week ending 30 June 2024
The REIV is expecting about 1040 auctions in 292 suburbs this week.
Read moreNew Rates of Pay - Effective 1 July 2024
Following the Fair Work Commission's recent decision in the National Wage Case, the minimum award rates of pay will increase by 3.75%.
Read moreSale of Land (Public Auctions) Regulations 2024
The new Sale of Land (Public Auctions) Regulations 2024 are in effect as of the 23rd of June 2024, replacing the former Sale of Land (Public Auctions) Regulations 2014.
Read moreREIV appoints Megan Mander as General Manager – Operations
The Real Estate Institute of Victoria (REIV) announces it has appointed Megan Mander as General Manager – Operations
Read moreUnits outpace Houses
As the saying goes, safe as houses. The conventional wisdom is that houses are the reliable bet as an investment, a sure thing when it comes to sustained growth and return. However, units are emerging as a legitimate little sibling contender for capturing real growth in the market.
Read moreNew rental minimum standards must consider financial capacity of rental providers
The Real Estate Institute of Victoria (REIV) today confirmed its intent to participate in the Victorian Government’s consultation process for proposed new minimum rental standards, which will focus on improving the energy efficiency of rental properties.
Read moreVictorian Luke Banitsiotis wins 2024 Australasian Auctioneering Championships
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Read moreREIV appoints Kelly Ryan as Chief Executive Officer
The Real Estate Institute of Victoria (REIV) today announced the appointment of Kelly Ryan as its new Chief Executive Officer, effective 29 May 2024.
Read moreNo significant change for real estate market but Government misses chance to incentivise long-term property sector investment
The Real Estate Institute of Victoria (REIV) has labelled this year’s 2024-25 Victorian State Budget a status quo budget for the property sector, explaining this was welcome news in context of a steady flow of new taxes on owners and investors since 2021.
Read moreWhat is Build-to-Rent?
Build-to-rent is often described as an innovative response to the housing shortage. As state and federal governments continue to plan and implement measures to overcome Australia’s chronic housing challenges, we unpack the BTR model and what it means to those working in real estate.
Read moreHousing approvals and rental bonds - is there a correlation?
The link between building approvals and the prevalence of rental bonds in the market is not necessarily an obvious one. However, it is self-evident in some parts of the state that an increase in approvals leads to improvements in housing supply that is then delivered to the rental market.
Read moreREIV proposes digitising hard copy documentation at Victorian public auctions
The Real Estate Institute of Victoria (REIV) has made a submission to the Victorian Government’s review of Sale of Land (Public Auctions) Regulations 2014, calling for an amendment that allows for the digital provision of documentation at auctions.
Read more