Wrong. Many rental properties are running at a loss.
An elderly chap I know had 4 units in a highly desirable area in Victoria. They were low cost rentals for the areas. The land tax bill in Victoria was greater than his rent (they had owned them a long time). He sold, the buyer is knocking them down and putting their mansion up. Low cost rentals gone thanks to excessive Government charges (they had no debt on them).
Many property investors in Victoria are off loading and guess what a lot of these places are old, which makes them on the cheaper end, they are bought for re-development in most cases.
I cannot speak for the rest of the country but I can assure you that the stench of Andrews lingers in Victoria and its going to get worse.
