Apartment Investors & Tenants both hit by Victorian Taxes
It’s not just apartment investors that are being stung by the Victorian Government’s array of property taxes. They are also punishing apartment tenants who have been hit hard financially by both government taxes and cost of living. It has been a prolonged campaign against investors and renters for many years. The Victorian Government’s property taxes…Read More→
When the apartment market turns…
If the apartment market turns this year, what should you do and when should you act? Reading the property press over the summer break caused a lot of disheartened sighs and groans from property owners. Lots of stories about the fall in property values over the last 12 months. Good news for buyers. Owners quickly turned…Read More→
Opportunity for Apartment Investors
There are growing opportunities for apartment investors in the current market. The increased costs are well known but it is important to focus on the outlook. Apartment investment returns in Melbourne have now hit 4.0% net. That’s after paying all the costs but before interest and depreciation or tax considerations. Before costs it is about…Read More→
Housing Market Announcements
The housing market announcements from Victoria’s Allan Government came thick and fast last week. For an apartment market analyst, it was like drinking from a fire hose, as layer upon layer of announcements rolled out daily. Each day, Jacinta Allen took the stand to birth a series of new initiatives. All tactfully leaked to the…Read More→
No change to rental rules… yet.
Has the Victorian Government finally heeded property industry advice, that tighter rental rules, mean less rental housing and higher rents? In September 2023, the then Andrews Government, released a housing statement promising many things. Its boldest promise was 800,000 homes over 10 years. It was optimistic then and is increasingly unlikely now. The housing statement…Read More→
Apartments sell at a loss… Yeah Nah
It’s a good headline. “Apartments sell at a loss”. Let’s understand what is going on here. CoreLogic research found that last year 1 in 5 Melbourne apartments, sold below their previous sale price. It was higher in the CBD which is where most apartments have been built. To understand what is going on here, it’s…Read More→
Is it time to sell or buy apartments?
It’s not often you will hear a real estate agent say it’s not a good time to sell an apartment but here goes… It’s actually time to buy, or at least hold your apartment rather than sell. While prices are solid, they will get better over the next few years. Time will decide if that…Read More→
Short stay vs Long stay rental. Which is best?
While short stay rental may sound like a great way to make some extra money there are lots of extra costs. In this chat we work through the pros and cons of short vs long stay rentals including what property is best suited. Also what are the extra costs of short stay rentals inluding the…Read More→
7.5% short stay tax – aka “Airbnb tax”
You may have heard about the new 7.5% short stay tax or “Airbnb tax”, but there is more to this than just a new tax. From 1st January 2025, the Victorian Government will charge 7.5% tax on any income generated via short stay rentals. If investors are weighing up short stay vs long stay, this…Read More→
Rent increases. How much, how often and what to do.
With the rental market growing rapidly many owners and renters are dealing with the issue of rent increases. Owners want to look after their renters but need to cover increased costs. Renters are battling cost of living pressures so it is a tricky balance. This is a computer generated transcript On 3AW afternoons, Talking Apartments…Read More→
Does Victoria have an Apartment View Tax? Live on 3AW
The Gold Coast Council are changing their rating system for apartments so now higher apartments with a better view pay more rates. Does Victoria have an apartment view tax like this? Also we chat about when investors sell should they ask a tenant to move out or is it OK for them to stay. Listen…Read More→
How do tenants in common & joint tenants differ?
The first thing to know about tenants in common and joint tenants, is they are not tenants at all. (Well not as we normally think of tenants). They are actually co-owners If you and your partner or friend own a property together, you are either tenants in common or joint tenants. These terms can be…Read More→