An economist has warned declining home prices, amid the rising cash rate environment, will have a negative impact on household wealth. While the impacts of interest rate hikes are well known to slow
The property researcher has questioned how the inquiry’s recommendations will be implemented, including super’s equity amongst first home buyers. CoreLogic’s research director, Tim Lawless,
The final report into housing affordability has seen mixed reactions, with some industry organisations applauding the recommendations and others clapping back for more. The report published by the in
The state will introduce a new Social and Affordable Housing Contribution on certain developments from July 2024, it has been announced. The Andrews Government has announced that, from July 2024, all
Victoria to Become the ‘Most Highly Taxed’ State in Australia: Property Council
The Victorian state government is planning to hit homeowners, homebuyers, and investors with additional taxes to tackle its debt in the 2021-22 state budget.
The Andrews Labor government said the budget would protect the state’s revenue base with $2.7 billion in austerity measures and a $3.6 billion program to reprioritise government spending.
These measures involve raising land tax on properties valued between $1.8 million to $3 million from 1.3 to 1.55 percent a 19 percent increase. Tax on properties valued over $3 million will be raised from 2.25 to 2.55 percent a 13 percent increase.
A new premium stamp duty rate will also be introduced to properties transactions that surpass $2 million. Homebuyers will be charged $110,000 plus 6.5 percent of value over $2 million.