REIV: rental reforms risk more damage to rental market
Kelly Ryan, CEO of the REIV, said the reforms will have a mixed effect on Victoria’s property ecosystem and some may turn away investors at a time where greater investment is needed.
Sydney again records the highest prime annual rental growth out of 15 global cities - Knight Frank
Knight Frank has released its Prime Global Rental Index (PGRI) Q2 2024; the research provides a quarterly snapshot of trends in luxury lettings markets across 15 key world city markets.
Australian median house prices have declined over the past year and are expected to only drop further, but with capital gain and equity in houses declining, it’s renters who are left to make up the difference.
“The data for the June quarter 2017 clearly shows an uptick in activity on an annual basis across the board, which is pleasing," said REIWA president, Hayden Groves.
Recent changes to stamp duty in NSW mean that foreign investors now pay almost $100,000 in transaction taxes to acquire a standard apartment in Sydney.
