24,726 qbts stock rental properties vanished from Victoria in a single year. First time ospedale infermi di rimini it's ever gone backwards since records started in 1999. And it's not spread evenly — it's hammering specific suburbs, hard. Port Phillip lost 2,000 rentals. Boroondara 1,550. Stonnington over 1,070. Absolutely cooked.
One renter described showing up to a one-bedroom inspection to find 45 people already queued outside. Another submitted albania 50-plus applications since December without a single acceptance.
Meanwhile a landlord called 3AW to announce he was liquidating all ten of his investment properties. "I will never, ever invest in Victoria again." Ten properties. Gone.
Here's why...
Victoria's land tax threshold sits at just $50,000 — twelve times lower than New South Wales at $1,075,000. Stack that on top of 130-plus rental law changes, the Vacant Residential Land Tax, and a 6% mortgage — and the maths doesn't maths, mate.
PIPA confirmed 22% of Melbourne investors sold at least one property in the past year. And the RBA singled out Victoria as the only state where mortgage arrears are now above pre-pandemic levels.
Meanwhile the UK — running the same landlord exodus story — actually saw investor property sales drop 45% in 2025. Theirs is stabilising. Ours is accelerating. Same kind of economy, completely opposite trajectory. Yeah, nah.
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Sources:
realestate.com.au — 24,726 Rentals Lost →
realestate.com.au — 12 Worst-Hit Suburbs Data →
ABC News — Victoria Investor Sell-Off →
PIPA Annual Investor Sentiment Survey 2025 →
Victorian SRO Land Tax Rates →
RBA Financial Stability Review April 2025 →
NHSAC State of Housing System 2025 →
Demographia International Housing Affordability 2025 →
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Disclaimer: We're housing market analysts not licensed real estate agents, financial advisors, or property professionals. All content is based on publicly available data, market research, and analysis, and is shared for educational and informational purposes only. Always consult a qualified professional or financial advisor before making any property, investment, or financial decisions.
