According to The Australian Financial Review, more than 3000 property investors bailed out of Melbourne in May, a 34 per cent jump from a year ago, as the state government’s tax changes and lacklustre investment returns accelerated the exodus, data from Suburbtrends show.
Nearly 4000 ex-rental properties across Victoria were listed for sale, further depleting the state of the already scarce rental supply, said Kent Lardner, founder of Suburbtrends. Investors also exited in larger numbers across NSW, offloading 3593 rental properties in May, up by 20 per cent over a year ago. In Sydney, a total of 2372 investor-owned properties were listed for sale, a 17 per cent jump from a year ago. https://www.afr.com/property/residential/investor-exodus-gathers-pace-in-melbourne-and-sydney-20240618-p5jmnj
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