Victoria’s housing affordability crisis continues to deepen as new analysis highlights the impact that the nation’s highest taxes is having on rents and housing supply.
Reports today of analysis from buyer’s agency firm InvestorKit highlights the acute housing shortages in areas of Melbourne caused by the “investor-bashing policies” of the Allan Labor Government.
The Victorian Parliamentary Budget Office has confirmed that Victoria already has the highest property taxes in the nation, with Labor’s recent Rent Tax only making a bad situation worse, which is driving critical housing investment interstate.
Shadow Minister for Home Ownership and Housing Affordability, Evan Mulholland, said: “Labor’s taxes on property are punishing young Victorians and migrant families. The Allan Government has no plan to fix the housing affordability crisis it has created.
“Ever increasing taxes on property will only lead to fewer homes, higher prices and poor housing accessibility.
“Victoria needs a comprehensive plan to increase supply, encourage investment and reduce costs to ensure every Victorian has an affordable place to call home and the best opportunity to own their own piece of our great state.”
