Good video. The only thing that I don't agree with is the outlook for the vacancy rate and rental yield: since investors are fleeing the Melbourne market, there will be fewer properties available for rent, so vacancy rate will drop and rent prices will go up, although maybe the yield will not be so much affected due to the Victoria Government decisions against investors. At some point the Melbourne residents will complain with their Government and some new laws in favor of investors will be finally implemented, the problem is how long this can take ...
@Soundmaster91
2 ай бұрын
Dreaming
@gerrym3183
2 ай бұрын
Some comments are INCORRECT , There is massive demand for rental properties in Melbourne, I got three properties and it’s amazing to see the demand…
@Ben-zv7ph
3 ай бұрын
Who's to say that government will not do the same in every state? Force higher standards accompanied with higher insurance council rates and land tax. Then corporate take over. Just a theory but one to watch over the next 6 years. I'm in and out in two years chasing other assets.
@pistolpete8539
3 ай бұрын
There is only one insolvent woke driven socialist Victoria. (excluding Queensland) Ha!
@geneLYH
3 ай бұрын
The other states aren't as die hard communists
@siblingworldtv1946
3 ай бұрын
Land tax is there in QLD as well, so are other costs such as insurance and council rates. I compared all states and VIC doesn’t look that bad.
@jakeryan56
2 ай бұрын
The issue isn't land tax - the issue is that VIC dropped the land tax threshold to $50k which means basically every property is subject to land tax. I own a $750k investment in Brisbane and don't pay any land tax
@siblingworldtv1946
2 ай бұрын
@@jakeryan56 I own propery in QLD too but pay higher rates, higher insurance premiums , higher PM fees and for me as I own in a trust (350k threshold) land tax as well. Yes 50k threshold in VIC, but overall the holding costs are similar hence the Nett yields
@siblingworldtv1946
28 күн бұрын
@@jakeryan56 I own in Brisbane too and I’m paying higher council rates & insurance . It’s the cost of doing business. Why don’t you highlight those higher rates and insurance you’re paying
@lengerer
3 ай бұрын
We need lower property prices, it’s unaffordable for regular people. Be good if other states follow Victoria
@Diplonomads
2 ай бұрын
It will
@traderjackthepro730
29 күн бұрын
make more money brokie
@jamesprytz4971
Ай бұрын
Melbourne is set for massive growth, it’s been in the lull, it’s in recovery and gearing up for a comeback. I love it when experts say just to look at the data, data only shows what has already been - look at Perth 4 years ago, if you brought based on the data you would’ve been called an idiot. Same with Brisbane not too long ago! Melbourne is now the most populated city in the country, bypassing Sydney with record immigration, housing shortage and a lack of new homes being built. Melbourne is a great city to live with arguably the top job markets in the country for skilled workers. Melbourne also experienced the largest population growth in the country last year. Brisbane and Perth have a median house value close to melbourne - clearly Melbourne is undervalued right now. We all know that Melbourne is a city that should have a median value significantly higher than these cities and closer to that of Sydney. Yes taxes are high and the state is in the most debt - this is all fairly temporary and land tax will probably be removed or reduced as it is hindering rental availability with investors leaving the market.
@EstateBuyerAgents-dr7cp
2 ай бұрын
Interesting...this video is a classic example of a contrarian "buy" signal. Warren Buffet would say "be greedy when others are fearful and be fearful when others are greedy".
@damowantswealth
Ай бұрын
I rented in the eastern suburbs - Camberwell & Richmond - on & off for 5yrs. I get frustrated with landlords and agents complaining about minimum standards because in my experience they were never followed by agents/landlords & never enforced by regulators. No place I lived in had adequate heating or cooling according the standard and the Regulatory body would take 9mths to see my complaint.
@asfn5267
3 ай бұрын
Wow look af all the fear. This means time to buy.
@TonyXDZ
2 ай бұрын
+5% interest rate for 3 years at least
@johndoh6198
3 ай бұрын
Melbourne is looking prime!
@markserainidis1058
3 ай бұрын
Melbourne land tax is slowing down the property market, simple..
@JoeyBlogs007
3 ай бұрын
Those property standards will simply send rents through the roof.
@fredsalfa
2 ай бұрын
Thanks for that. A very convincing argument and analysis of why Melbourne is not the place to invest. Almost the opposite story of Perth using the same data
@Sandydigitalmarketingtraining
3 ай бұрын
Thanks for video. However, realistic I want to buy house in Melbourne they usually put 650-750k, and sold at 830k some house good condition $920k what’s happening? Until now I could not find any old house and land 600 m2 - 650-700k around Dandenong area where 30 min -40 min from CBA.
@bdannnn
2 ай бұрын
yeh.. when you do manual research on properties instead of looking at the released data, it never seems to line up. the prices in the last year seem to have grown significantly.
@theot58
2 ай бұрын
I don't trust Core Logic data. it contradicts the Valuer General data
@anthonycoyle2889
2 ай бұрын
In the covid lock down people where moving in the regions sites unseen buying anything and prise went up 30% in 18 months now people have work out it do suit then and capital gains in regions is low and can go negative many house have been on the market for over 6 months, bad luck speculators there's always risks in investing and government always wins
@satay8167
2 ай бұрын
Good keep vic less attractive to investors. Dwelling is to Iive in not for speculation . Go other state to make money
@bobjones2229
3 ай бұрын
when the market is never allowed to balance and held up for to long a correction is eventually going to happen
@AnnGreen-o9e
3 ай бұрын
Tasmania had minimum standards, years ago. So I knew that it wouldn't be long before other states would do the same. Tasmania brought those standards standards
@craiggrocott7559
3 ай бұрын
I thought it would have bounced back once Dan Andrews resigned.
@lewisaus
2 ай бұрын
Good video
@apexsmixedlollies
2 ай бұрын
How about you call a spade a spade. Melbourne prices have dropped nearly 30% since its peak in 2021. Melbourne has CRASHED
@monicak9555
2 ай бұрын
Interesting. What about if you're looking to permanent relocate (Australian expat) to Melbourne over the next three to five years?
@samb3783
2 ай бұрын
Same boat as me mate, watching from London, I'm a Melbournian looking to return, I do think it'll stay relatively stagnant for 5 years (hoping) most people can't afford the prices. More properties will come onto the market when the fixed rate 5 years expire that people took out just before the rate hikes.
@samb3783
2 ай бұрын
So if they moved now they'd have to take higher rates
@Soundmaster91
2 ай бұрын
Don't buy straight away, rent, see what areas you like to live, try Sydney and Brisbane then make a decision
@jasonho7281
3 ай бұрын
how about Geelong?
@samchristopher4733
2 ай бұрын
No infrastructure projects in Melbourne at all…
@robinduffy6690
Ай бұрын
Why does Australia Ha66ve6 no Federal We6alth6 Fund ???
@1111phas5
3 ай бұрын
Great one
@dsinghr
3 ай бұрын
I just bought a 1.47 mil townhouse in Melbourne mount Waverley. 😢 hope it grows at least 3-4 percent every year
@LB-xo5so
3 ай бұрын
Not for next 1-2 years but wait till 1-2 cycles it is a good area
@hereg3043
3 ай бұрын
Not until land tax eases. Thanks for voting Labor.
@gerardczosnowski8916
3 ай бұрын
In Argentina they devalued the currency cause they're highly indebted. Victoria is carrying huge debt but cannot devalue it cause the other states are doing comparably well. Probably a combination of significantly higher taxes, a decade of stagnation and very few $$ for job creating projects.
@lalachor1
3 ай бұрын
Bad idea
@LB-xo5so
3 ай бұрын
@@lalachor1 bad idea for who inspires to be quick rich!
@amitsalaskar1024
2 ай бұрын
Basically Australia farked itself up during covid.. when the country wasnt as much affected against the economical disaster these laid back govt created
@2mallikharjuna
3 ай бұрын
Victoria is not good place to have a house
@JoeyBlogs007
3 ай бұрын
Yes it's crashing in VIC.
@sthradhervernon7654
2 ай бұрын
People, only should own 1 home this greed has to stop or this country and communities will be in deep shit in years to come, homeless people will line the streets, and your property value will plummet.No one wins.
@m2comp369
2 ай бұрын
So where do the 2.3 million renters live? Some people rent because they can’t afford to buy whilst others simply prefer that lifestyle. How about using some gray matter before posting!!
@sthradhervernon7654
2 ай бұрын
@m2comp369 Well, maybe the government should cap the house prices.To the lowest wage earners yearly income.That way every one can own a house, maybe they won't need to rent.I know it will never happen because there is way too much greed.For there to be a fair society.
@dannyprice1990
2 ай бұрын
Good. Invest in stocks, property is for living.
@waycam77
2 ай бұрын
yeah nah.. buy when the market is at it's lowest..
@iinath98
2 ай бұрын
I wish I get a $ when i hear these people talk price prediction and it goes the other way. Been there done that. No thank you.
@De-tw7by
2 ай бұрын
Melbourne price will never go down.
@ryanpzy9336
3 ай бұрын
The worst city in Australia that's why. Labor and Dan Andrews destroyed it
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