Victoria the ‘worst state’ to be a property investor
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- Опубликовано: 17 окт 2024
- Sky News host Rita Panahi has slammed the Victoria Jacinta Allan government for sending a “clear message to property investors”.
“The Jacinta Allan government has a clear message to property investors; you’re not welcome here,” Ms Panahi said.
“Victoria is considered the worst state to be a property investor with one in four landlords selling a property last year.
“No wonder rents are skyrocketing in Melbourne.
"This is what happens when you have mad neo-Marxist activists who have never held a job outside of politics and the union movement fail their way up into senior roles within the state Labor government.”
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Victoria ‘the worst state to be’
Who would want to live there worst Police force by far !
Nearly all our families live there and don't seem to have issues.
💯
@@oldbloke204 Bro you're on Sky News. What did you expect from the comment section besides Median IQ - 3 SD
The 2 banks Wespac and Commonwealth inter organised with Estate Agents, Lawyers, Landata, RACV are stealing the properties from Older people, Single people with no families ect.
Worning people!!!!
All is Corrupt!!!
Victoria has turned into a basket case
a glimpse of whats instore for the rest of the country, if Labor stay in.
That's what happens when people want Socialists in power. Sadly for those Victorians still supporting democracy, the opposition isn't very much better.
THAT'S WHAT THEY VOTED FOR
@@davidboyle1193 I didn't
@@Max-my7uj most did
History Says, this is what Happens Under Labor......Higher Taxes, Higher Spending, More Incompetence !
Highest spending government (expenditure Vs. GDP) excluding WW1 and WW2 was John Winston Howard's.
If you enjoy going backwards, then live in Victoria.
Victoria used to be Australia's best state.
@@raymarsh4620Now it's Australias best Shithole 😂
We are preparing to leave asap , surely any other state is better than Vic.
@@Hope-bc9ygnot nsw
@@Hope-bc9yg We r moving too, our 2 kids have moved with their families & we r going as soon asap
This is what happens when you have Australia wide Labor governments! You get what you vote for! 🙄
They still won’t work it out
How about “minimum standards” for governments!! To every Labor/Greens/Teal voter - THIS EFFING MESS WE’RE IN IS ALL YOUR FAULT!
Hear hear!
Don't forget about the liberals. Vote one nation
👏🏻👏🏻👏🏻👏🏻👏🏻👏🏻👏🏻👏🏻👏🏻👏🏻👏🏻👏🏻
Greens/Teal/Labor made me fat. Greens/Teal/Labor made me bald. Greens/Teal/Labor stopped me getting a date in high school. Greens/Teal/Labor made me the office joke. Greens/Teal/Labor made me miss the eclipse....
Australia is finished. Its going to get so expensive that no one will be able to leave their house, if they can afford a roof over their heads.
The Peoples Republic of Victoria...........where freedom dies !
What hope have we got when Victorians just keep voting for Labor and the Greens. These parties will need to inflict much more suffering on Victorians to the point of despair and only then there might be a slight chance that the rusted-on voters will change and do something else because the reality is that even the hand-outs will run out one day just before Labor digs its own grave just before the collapse of the Victorian economy.
Just like the CCP
Meh ... who cares. They voted for it. Don't tell me that they are not happy. If there was an election tomorrow they would vote for Labor again. Let them suffer.
As a tenant, can the Vic gov just stop helping raise rents.
The average investment property in Melbourne land tax costs around $3K per year get ready renters you are getting an increase of that much.
Will get worse….less landlords less property available with more demands…not worth it to be a landlord
I am a landlord, interest rates going up, council rates going up, insurance going up, government mandatory standards going up. Is anyone wondering why rents are going up? Labor is incompetent at managing the state.
Yes, it’s a wonder why they deciddd to announce this during a cost of living crisis. They’re supposed to be lowering the cost for Victorians, and yet, everyday there is a new announcement on how they will screw us even more by increasing the cost of things.
If liberal don’t put in a decent opposition , where going to be stuck with this socialist state government for another decade!
Why Labor still voted in ?
You think a state government sets national insurance charges? Interest rates? Really? Not sure they can control council rates, either.
Good please sell your property for people who needed a home to live
@@johnnywong1018 In China? My daughter is in my 2nd property. She needs it too.
Yes, tenants bills will may be lower, however, their rent is going to skyrocket!
A better title for the video would be, "Victoria the 'worst state' to be a renter".
Are you aware that the Govt Sector workforce, the public sector elite ruling class socio-economic group, the emerging Aust aristocracy our govts are fostering (slowly being introduced to the world in all of its snout trough gouging glory) are heavily heavily over-represented in rental property ownership? And indulging in the benefits of ABN & ACN's (in some responsible countries all of what Ive pointed out is Banned area of activity for public/civil servants)?
On an earnings gearing against the private sector of 1:1.60 (govt sector not including military, average annual income)?
Do ya think there's nothing wrong?
Victoria even smells now a days like “woke “, I am heading off to QLD
I'm waiting for Boy Wonder to get tossed out!!!
For Sale signs going up everywhere in my suburb, and when i look at them online 95% are rental properties people are selling.
What area? I know in my area far north coast NSW properties were selling in days now several have been on market a couple of months sales still happening but definitely slowing.
@@privateAcc0unt Vic has the high land tax that is why the investment properties are getting sold. Not going to end well.
@@privateAcc0unt He's talking about rentals.
That’s right, and some rather sell at a loss
4 star shower heads,F that i want to be saturated in the shower not running around looking for the droplets.
Yep. Might as well take an umbrella into the shower with you.
I've heard you can also improve the fuel economy on your car by putting a block of wood under the throttle pedal so you can only ever push it down to 10% - same principle as the shower head
I heard if you put a brick in your toilet, it saved water each flush. But I kept stubbing my toe so took it out.
What an easy way to decide where to invest your money... not in Victoria
GET RID OF LAB !
We had our chance. Who are we going to vote in,..don't hear the Libs on news saying they will reverse any of this..
Victoria is trading while insolvent.
Remember, Dopey Dan must be struggling on his $300,000+ a year pension.
Dan Andrews can't recall anything 😂😂😂😂😂😂
He is laughing all the way to the bank.
Fine’s Victoria are a disgrace and 60 mins / current affair should expose them for the crooks they are.
My land Tax just came, 500 last year, 1300 this year..., correcting 1 house and a half house ownership
Your lucky 1 beach house and a block of land 15$ k
@@highcountrydelatite Should be a crime to charge that much. Come to think of it, shouldn't pay anything. Government at it again, snouts in the trough.
We knew this was going to happen, is how they are going to obtain land, take it back when people can't pay, all in the plan.
Time to vote Labor OUT
We had our chance, but who would who are we going to vote in?.
My brother in law rang me up about a State tax for his rental. I advised him to get out immediately!!!
Selling my family home ( when my mother passed away). We rented it out, however, with land tax, maintenance, repairs we were in negative.
Depending on how long and how you went about it you may also be up for capital gains taxes on the sale as well.
Correct. That’s what’s going to happen.
Melbourne has it's good years behind! People with money should leave this Australian California, there is no future anymore, otherwise you are woke, migrant from 3rd world, deep in debts or lesbian/gay, then Melbourne is the best! place
When interests rates go down mortgages will correct to rising rents and find an equilibrium. Till that time it's balls out on a rodeo bull with a bottle of whiskey in one hand and chain smoking with the other. Yee haw
Sell, it’s not worth it. sold ours last yr….best decision ever
"Victoria the ‘worst state’ to be a property investor.".That should read landlords. Sounds like a good thing!
There is an economic term "rent seeking"
Rent-seeking is a concept in economics that states that an individual or an entity seeks to increase their own wealth without creating any benefits or wealth to the society. Rent-seeking activities aim to obtain financial gains and benefits through the manipulation of the distribution of economic resources.
According to the valuer general, my holiday home has increased in value by 90% in one year! However, my current land tax bill is almost 600% more than last year 😳
Thousands of dollars in upgrades ? The renter will be paying for it guaranteed
They need Jeff Kennett back.
Victoria worst state to be in full stop.
It's simple just don't give gas and electricity connections to house 😂😂😂😂😂😂
Victorian to blame as they voted Labor and Green for many years so pay up
They tried these energy standards for rental accommodation in the UK. The result was an apocalyptic collapse in the availability of rental properties.
Really? How so?
The extra costs get passed on.
It is a HELLHOLE here in Victoria.
One day, in about 6 years, I will be free to emigrate and I look forward to going somewhere where I can live free from the authoritarian left.
Post your PayPal details, we'll start a fund to get you out earlier. No repayment needed so long as it's a one way ticket.
@@indiathylane2158 No thanks. Just give me a million of the cash that Labor has given to its lefty mates and I'll organise my own one way ticket.
Land tax has tripled compared to a few years ago for investors in Victoria, thanks to the new Dan's Legacy Debt Levy. Victoria the Taxation State.
Not for the cheapest properties.
On 3AW this morning there were p-ssed off talk back callers in their 60s to 80s calling to say they have been notified that due to the land tax and other government imposed costs the owner of the properties they have been renting and living in for the past 10, 15, 20 years is going to be selling and they need to look elsewhere.
The current rental vacancy rate is under 1% in Victoria and according to a real estate agent speaking on the same program, stated that in Victoria there is a shortage of about 60 thousand rental properties.
Maybe these callers should reconsider their voting preferences. Most likely these people have been voting labour for decades without thinking.
Government charges are not the biggest cost increases. Sounds like 3AW's usual shills have been reading their scripts again. They've been busted before.
Commie Victoria is still plastered with YES for The Voice posters.
Translation to tenant's : your annual rent is going to skyrocket further as landlords pass on government costs to you.
Are you aware that the Govt Sector workforce, the public sector elite ruling class socio-economic group, the emerging Aust aristocracy our govts are fostering (slowly being introduced to the world in all of its snout trough gouging glory) are heavily heavily over-represented in rental property ownership? And indulging in the benefits of ABN & ACN's (in some responsible countries all of what Ive pointed out is Banned area of activity for public/civil servants)?
On an earnings gearing against the private sector of 1:1.60 (govt sector not including military, average annual income)?
Do ya think there's nothing wrong?
@@kkcw6668 I'VE BEEN TELLING EVERYONE FOR THE LAST 40 YEARS SOMETHING WRONG, AND THEY STILL DON'T LISTEN.
Ceiling insulation minimum of $2500 installed
Weather seals minimum of $700 installed
3 star cooling minimum $2500 installed
4 star shower head minimum of $250 installed
Government intrusion telling you what you have to do in your personally owned property to replace a faulty gas water heater or space heater.
Heat pump storage hot water unit minimum of $6000 installed (possible rebates if eligible) also requires a dedicated electrical circuit from switchboard so there is a potential switchboard upgrade cost
So much for the gov's $5000 upgrade estimate. They lie every time their lips are moving.
I've got a rental in Victoria, Over a Friday, Saturday and Monday I had over 20 applicants. Going to be interesting to see in the next few years as rentals become more and more scarce what it will be like. And absolutely I'll be passing on the new costs to my tenant. Hopefully with investors fleeing Victoria it will just make my rental yield higher
Correct on yield. Melbourne has been terrible in rental yields. Its about to take off.
Following previous NZ labours gov disastrous policies. And they lost the election for good 😂
Melbourne has gone down the gurgler. Send all politicians there and let them live with each other and they can see the results of bad bad policy.
how has it gone down hill. it now has more affordable living than Brisbane
@@finn6492 Land tax, enjoy.
"Why can't we tame inflation?" as they impose these $5k mandatory upgrades across rental properties.
more property investors fleeing the market is a good thing. This means more people can buy these properties to live in while improving their own financial stability and reducing the need for rentals. This will reduce home values and in turn make rents more affordable.I don't see home values actually dropping though because neither party will want to do anything to improve affordability because it will be unpopular with voters who already own a house Both the Labor and liberal parties are equally useless. More interested in holding power than having any backbone and offering real solutions.
I wonder how many investors provide cheap housing for family members (that might otherwise need social housing). We have 4 properties we accumulated over 15 years, about to get one more. My inlaws live in one, brother in law lives in another. My partners a nurse and I'm self employed, last year my taxable income was 32k.
At least their property price goes down
Less we regret
government
Yeah come to Sydney, and see ugly duplexs, where developers are assoles building double storey shit holes, where your single storey neighbour loses the sun, snd gets to look at a wall everyday, corrupt councils.
$300?! Qld is paying $1200 every 3 month's for power 😭😭
Turn the aircon off, I lived in rural WA as a kid , 45° was the norm in summer, we never had air con and stop voting for leftists
why would you want capital going into an unproductive investment like housing instead of into investing in to businesses. Australia's obsession with property investment is why we have such uncompetitive manufacturing and tech sectors
How about the worst state for first time buyers with over inflated prices due to real estate agent greed? Sick of losing out on auctions with a foreign phone in bid blowing everyone out of the auction.
Who are likely investors.
You're not supposed to blaming estate agents on this channel. You're supposed to be blaming labor.
Time to vote these idiots out. It's past time to get victoria back on a real future plan. Any landlord cost will be put straight onto the renters. As with every single other cost increase goes straight onto the customer. Maybe the government will make a little bit of taxes but the company will charge you more than they are paying in taxes.
We had our chance last election.. And who are we going to replace the Labor party with.....? Don't hear Libs banging the door down over this.
@@geoffcohen613 yeah true, but you have to remember the unions are pushing labor in this state. Telling workers if they want to work vote labor. They will wake up soon, Hopefully. But you also have the infrastructure builds going on which are boosting numbers aswell. But when we are another California the people will see the truth I am hoping. Try voting one nation or Australia first party. Change the demographic in this state scare the politicians to stop spending what is not there's to spend. Bring back a better victoria
I have friends in WA and I can assure you WA is not better far as cost of living and housing and rent hikes... All my friends are pulling their hair and worried to death.
THEY VOTED FOR LABOUR
Are you aware that the Govt Sector workforce, the public sector elite ruling class socio-economic group, the emerging Aust aristocracy our govts are fostering (slowly being introduced to the world in all of its snout trough gouging glory) are heavily heavily over-represented in rental property ownership? And indulging in the benefits of ABN & ACN's (in some responsible countries all of what Ive pointed out is Banned area of activity for public/civil servants)?
On an earnings gearing against the private sector of 1:1.60 (govt sector not including military, average annual income)?
Do ya think there's nothing wrong?
@@kkcw6668 Good point indeed
@@davidboyle1193 unfortunately they do the same in USA. They keep voting for the far left and then they cry as why their life is getting worse... lol now they have found a solution in that they move to Red States after ruining the blue states.. lol
@@mauricejones735 public sector elite make wealth from someone else's toil.
Not bad for "servants" eh.
Worse state full stop
As a property investor I will never invest in dead beat Melbourne, I have friends with 3 investment properties and are selling them all, what a joke of a state. As the saying goes "the only good thing to come out of Melbourne is the Hume highway"
its a union run state, so what do you expect?.
Melbourne is the 3rd best performing economy in Australia, houses are undervalued. Sydney is full, Brisbane floods, Perth is vulnerable to resources bust. Adelaide..... lets move there.
Are you sure?
@anthonyszy7191 good luck to you if you're investing there. I hope it works out well for you but I don't see the numbers.
So lots more owner occupiers then. Is that a problem?
Stamp duty is crazy high. I recently bought my first home. And have to pay through nose … total rip off
A home is a human right, not a speculative investment.
Everyone has the right to pay for a home. No-one has the right to demand someone else do it for them.
But is it a good state to move to if you want to own your own home?
I’ll be selling mine or putting up the tent. Good call Allan
Tent? 😂
So, are houses for families to live in?
Is this such a bad thing to move shelter (an essential human need), away from being and investment class?
The fantasy for Marxist Labor is that by getting rid of property as an investment is more people will end up as owners. Its the stupid 1 for 1 theory- one investment property sold is one more tenant becomeing an owner. Ideally at around 50% of the current property value. The properties are available to buy RIGHT NOW! But many can't or won't buy them because they dont have the money, or can't commit or need to rent for other reasons. Those who can't buy or won't buy are the ones affected by this..
Why do Labor hate Australia and Australians so much???
Sky News Logic - Red team bad, blue team good. Oh wait unless it's US politics then it's red team good, blue team bad. Break free from this false left/right paradigm. Governments are the problem, not which team is in charge.
STOP demonising property investors. Show some empathy. Help the property investors. These investments ARE good for the economy. One of the biggest reasons why 'tenants' struggle is not because of the property investor but because of these skyrocketing expectations. In all honesty, you pass 100% of the cost to the investor, and about 10-15% of it gets passed over to the tenant. The remaining the investor has to bear. Now, it has become a huge liability investing in property.
A property investor goes through a lot of bad land developers, builders and tradies, at times bad property managers, then increased regulations and taxes. Please think holistically. A property investor gets demonised all the time.
People who are jealous of the property investors really need to educate themselves. Stop being jealous. Start saving. You are not being driven out of the property market. The taxes are way too high. How do you think a property investor was able to 'save'? A property investor has had several sleepless nights, empty stomachs, extra shifts, to save and finally afford a property to secure a financial future.
There are a few bad property investors but there are also a few bad tenants.
100% Correct, but not many people would understand what you say here
💯 I bought a property when I was 21. Had to work 60 hrs a week as an apprentice to earn just under a grand. Pinched every penny, then moved away from my state fir work. I bought in 2009 my interest rate was 9% because I was low income. Rented my property to some young guys trying to get a shot. They scrwedx me didn't say rent. All good, they paid some. Their parents wanted the house. Instead, i thought great, but they were ice heads. Long story short they rented from me for 3 years, lots of issues, unpaid rents, and forgiven rents. When I decided not to renew the tenancy as things were getting crazy. They smashed my windows ripped my kitchen apart stole my aircons graffitied the walls. I didn't bat an eye and rehabbed the whole place and jacked the rebt to $200 as that was market. I tried to do right h t by them, but they couldn't give a shit.
It is a classic communist plot, very well documented in Europe over the last 100 years or so.
Good on ya Labour. Stuff property investors, let’s tax ya stuff you. Let’s start taxing the labour government for their incompetent
Surely landlords selling up will create a massive windfall for the state from stamp duty paid by the buyer? Makes sense to me.
I thought "bringing back the SEC" was supposed to bring bargain electricity for all?
The bringing back of the SEC is in name only they aren't going to be physically producing power they are merely going to store it in battery storage facilities they will build and then release it back into the grid from those storage batteries.
LNP will never be in Government in Victoria RITA 😂😂😂
Very True Victorians Love Pain !
@@KT-bb1tb I love Righties losing it...
I don't know why they'd want to be, it would be like trying to fix a car when every single part is broken, you might as well send it off to the scrap metal yard.
Victoria is the Laughing stock shithole of Australia 😂😂
@@dominicpelle7841enjoy living in tents when you will not be able to pay your energy bills or rent/mortgage!
Society has failed me...
Victoria also has the highest number of first home buyers. Please report on that.
Victoria has the highest homeless rate. Report on that.
@@alanw8552 Northern Territory has the highest followed by NSW
Despite New South Wales having the highest median property values in the country, the highest proportion of first home buyer activity was centred in this state. 35% of all first home buyers in Australia were located in NSW. Following NSW was Victoria, making up 25% of first home buyer activity. - Aussie Home Loans
Nope, NSW had both the highest number and the highest proportion in 2023.
(source- Aussie Home Loans)
@@alanw8552 Nope, N.T. does, often tops the list. Did you even know?
Sad Reading through these comments….people have had enough
Lily D knows everything just ask her , she has nfi..ppl of Vic wake up 😮
Lily D bozo
Depite the shambolic and utterly inept Victorian labour government, i still love Victoria (though i dont live there anymore) 👍the vic state government policies beggars belief, hopefully there'll be a change on the ballot box 🗳️
Lol I'm a plumber and builder
It's going to be alot more
The cheap units only last 2 years if your lucky, plus all the upgrades your looking around 10k
Thank God your going to save 300 a year
The only time the gov officials are not lying is when their lips are not moving. Thank you for your real life cost feedback.
Isn't the structural guarantee for all new homes 6 to 10 years, across Australia? Mine were 7. Have I missed something or are you not a builder?
@@indiathylane2158i think when he said cheap units he is talking about shower heads , gas tanks etc
They all sound like the bare minimum in today’s standards though 🤷
I sold my investment property in Noosa, same crap different location.
let jus thank Treason Dan for that
Get out of VIC !!!! run fast !!!
Yes, you get to fleece your renters for less cream off the top. Not the Australian way 🙄
Really, landlords are not providing a good service to you. The privilege is yours to move out and buy your own house and see what it is like to pay a loan for most of your life.
my rent literally increased 35% in 2 years
You can thank the Labor government for that. Any extra taxes or financial implications to rental providers will inevitably be passed on to tenants.
You can thank Phillip Lowe for %30 and the vic Govt for the %5
questioning if a beach box counts a second property.
Victoria is a comedy sketch, the Victorian voters have voted for there own demise, hilarious
Too many lefty socialist dickheads in Victoria.
It is only hilarious if you don't live there. It is beyond tragic for people who live there and didn't vote labour.
Water saving shower heads are not much good, if your flow of hot water takes forever to come through from the hws. We don't use our on-suite bathroom any more due to the time it takes for the hot water to materialise. Washing up water the same. I end up boiling the jug. This is in a house only 3 years old. Have instantaneous gas hws, bloody useless as far as l am concerned. So if you want to save water, lessen the time it takes for the hot to come through from the hws. You would save thousands of litres of water per house hold per year.
The hot water pipe line maybe oversized, your control box in hwu setting too low or your tempering valve temperature set to low. Thanks Donny DCF Plumbing
I don't understand this flawed logic in regards to less rentals available. If investor sells property who buys it? An existing renter now home owner or another investor. Doesn't that mean no net effect on availability. Greed, everyone wants 3 properties so 2 others have none.
Most probably it would be an elites who would buy it.
Who buys it ? A Chinese investor who doesn't give a proverbial about our country of the renter. He is only in it for profit. Local buyers have been priced out a long time ago. A brief explanation for you.
Yep
victoria last one to leave shut the gate .wont be able to turn the lights off wont have any power!!
Property inventors are part of the problem (Housing)...
Why would you live in WOKE VICTORIA. You would be mad to do it.
Real estate has always been a second-rate asset class, compared to shares and now crypto.
Everyone should aim to own their own home. But this should be achieved with proceeds from actual assets. Taking out a mortgage and paying it off with your salary is not intelligent.
Edit: Just open up more land for housing. We don't all need or want to live in capital cities. Anyway, more housing brings down property prices in large cities, as a side-effect.
Melbourne is now cheaper than Brisbane so I guess they are doing something right. Rita rent-seeker just wants more money.
No worries landlord can spend a few thousand dollars with depreciation to come and save the tenant a couple hundred bucks. Sounds like a brilliant idea.
Five different googles, five different states named as the best for property investment. Sky being selective again.
Without watching the video, i would say it's Vic
Just don’t buy
Property prices still lower than q1 2022 in melbourne. Clearance rates below 60%, prices coming down. This has to happen in all states so the younger generations can buy a house. Government need to mass build build to rent high rise appartments to bring rents down on houses
That's because there are a Lot of People Leaving Victoria !
@KT-bb1tb good. Mark my words, each state will copy this land tax bill
Are you aware that the Govt Sector workforce, the public sector elite ruling class socio-economic group, the emerging Aust aristocracy our govts are fostering (slowly being introduced to the world in all of its snout trough gouging glory) are heavily heavily over-represented in rental property ownership? And indulging in the benefits of ABN & ACN's (in some responsible countries all of what Ive pointed out is Banned area of activity for public/civil servants)?
On an earnings gearing against the private sector of 1:1.60 (govt sector not including military, average annual income)?
Do ya think there's nothing wrong?
It's simple just don't give gas and electricity connections to house 😂😂😂😂😂😂
Sky sticking up for the millionaires as usual
Rowan Dean comes from Hobart ? There appears to be twice as many of him.
greatest idea to reduce power bill - change gas HWS to electrical. 100% plan.
You mean 100% plan to double your power bills ?
@@johnhoward8851 Yes. Reliable as Swiss watch.
Victoria is a bad state not cos investors have to pay more, its because we have so much and yet there is still so many with little
Good! then property price won’t go up in price…
I moved to Melbourne 7 years ago from Queensland, biggest mistake of my life. The worst city I’ve lived in. And I’m not Muslim… so nothing for me here..🥲😂
Victoria has the highest state debt in Australia.....Queenslands Stephen Miles says hold my beer suckers