‘This is a market economy’: Andrews says investors welcome to sell

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Victorian Premier Daniel Andrews says 12 interest rate rises are more to blame for property investors selling up in Melbourne than increased land taxes or proposals to limit rent increases.

, according to SQM Research founder Louis Christopher,

“I think it’s fair to say that there a number of properties on the short-term market that all of us would like to see on the longer-term market,” Mr Andrews said afterasked if he believed there were too many properties listed on Airbnb in Melbourne.“But again, you’ve got to be careful when you make changes. You’ve got to be mindful of what the impacts might be.”

South Australia, NSW, Queensland and Tasmania have rent increase limits that allow one rise each year. An SA government spokesman said there were no plans to increase this cap further. Queensland Housing Minister Meaghan Scanlon said the annual increase limit helped ensure the private rental market “operates in a fair and balanced way”. A Tasmanian government spokesman said the best way to ease housing pressures was to increase supply.

A NSW planning and environment spokeswoman said any changes to short-term rental accommodation would be considered as part of a wider policy review set to begin later this year, with feedback sought from hosts, industry, councils and the community.

 

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