Investment homes up for sale

March 25, 2024 8:11 am in by
File image [Pixabay]

There are fears Victoria’s tight rental crisis could worsen, with a growing number of landlords selling up homes.

New figures show more than 200 homes across Geelong and the Surf Coast were put on the market during the first two months of 2024.

That number is much higher in Wyndham, where the ‘For Sale’ sign has been placed on almost 300 properties.

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Experts say increasing land taxes on investment properties are driving investors out of the market, making it even harder to find a home to rent.

Victoria’s rental vacancy rate was sitting at just over one per cent during February.