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Is Now The Time To Enter The Melbourne Property Market?

Scouting Australia Podcast

NOTE

Timing is Key: Market Impacts Lag Behind Legislation

The introduction of new land tax legislation has a delayed impact on property markets, as its effects are only felt after the end of a financial year when calculations are made. Specifically, the Queensland property market reacted earlier than others, with many potential buyers withdrawing from transactions due to anticipated tax consequences. Sellers, particularly large investors holding properties in multiple states, also began to exit the market pre-emptively. This scenario illustrates a complex interplay between local and federal tax systems, where Queensland's state policies create ripple effects that can diminish overall investor confidence and reshape market dynamics. Additionally, a significant portion of property investment transactions, about 40.9%, occurred in Queensland prior to the implementation of this tax, indicating the region's heavy involvement in the national property market.

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