Tenants in Victoria are being crushed by Greens and ALP politicians.
They say they are for the working class and against Tories
words say - virtue signal
Deeds display a nasty and sinister war on the weak and vulnerable in society.
The Victorian Government of Allen after Andrews is still on a evil path.
Rental places have diminished and rents are skyrocketing
(they haven't peaked yet, as some are still able to pay - barely)
I have listed my last RE interest in Victoria for sale
I can't afford to own a house to rent to a single mother and family
Weekly notices to get gas/ electricity/smoke certificates
People testing gas appliances with bathroom exhaust fans on/off
It is bulltish. I don't do it where I live - as you can tell if light works.
The facts:
The Residential Tenancies Amendment Regulations 2021 (the Regulations) were created to support the operation of the Residential Tenancies Amendment Act 2018. They commenced on 29 March 2021.8 Mar 2023
What happened
https://www.theage.com.au/property/news/victoria-s-new-tax-is-driving-landlords-out-but-is-that-a-bad-thing-20240409-p5fik6.html
It’s not the best time to be a landlord in Victoria. Despite , the cost of holding a mortgage and recently expanded land tax are eating into profits.
On top of this, many resent the steady tightening of rental laws to give tenants more power to ask for repairs, challenge rent increases and not be evicted without cause.
Shocking Graph of rental
The awful thing is the close to vertical direction for the future.
Can't go on
Is a recesion close?
The changes to land tax — which dropped the tax-free threshold to $50,000 from $300,000 and lifted the tax rate to $975 plus 0.1 per cent of the value of an investor’s properties worth more than $300,000 — have become a favoured whipping boy for real estate agents and landlords, particularly when asked about skyrocketing rents.
Anyway. I'm voting with my feet
As I listed, the Agent in a tiny country place said they had over 50 sales from investors
but ZERO investor buyers on books
