Windfall Gain Tax - How will this invest the Victorian Property Market?

Discussion in 'Property Market Economics' started by Investor1111, 5th Dec, 2021.

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  1. Investor1111

    Investor1111 Well-Known Member

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    Hey Everyone,

    Have a read of this -> Windfall gains tax passes Victorian upper house, claims it will raise home prices, cut supply - realestate.com.au

    Keen to hears peoples thought on the Windfall Gain Tax that will be implemented in 2023 and the effect this will have on median house prices in VIC.

    I've recently purchased a H & L in Geelong (Armstrong Creek) and while the data looks good in today's market. Low days on market, vendor discounting, vacany rates, available stock on market, ect. Demand is high now, but my concern was always the amount of developable land, zoned for residential that would stifle capital growth.

    Do you guys think this new policy will affect median house prices? Will the uplift of 50% profit after 100k slow the rate at which developers will release land after this new implementation? Could it potenitally solve housing oversupply issues into the future?

    @sash
    @Westie
    @Henry C
     
  2. Joynz

    Joynz Well-Known Member

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    This has already been raised and discussed recently in another thread…
     
  3. sash

    sash Well-Known Member

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    This will affect the cost of new land...very possible that land prices in VIC can escalate. There is already a shortage in Geelong.....and even Ballarat...will be interesting to see.
     
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  4. LROB

    LROB Well-Known Member

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    Investor1111 likes this.