According to the latest fiscal bureau stamp duty data, in the fiscal year of 2018-2019, a total of 201,000 houses in Victoria were sold, and the number of houses sold in the previous year was 221,000. The decline in real estate sales has brought a deficit of 1 billion yuan to the Victorian budget bottom line, but the state government said signs indicate that the housing market will be more promising in the coming year. Sales of residential developments around Cranbourne in southeast Melbourne have also declined rapidly.
Compared with the previous year, the number of home sales in 2019 decreased by 1200, a drop of more than 27%. On the other side of the city, there are also very few buyers of Werribee and Point Cook. Compared with the previous year, the number of house transactions has decreased by 1200, a drop of 21%. The reduction in buyers is not limited to the outer suburbs. With the cooling of the apartment market, the number of housing transactions in the Melbourne CBD has decreased by 13%. In the 3,000 districts, the number of houses that were relocated was reduced by 500, and the income of the Victorian government was reduced by more than 30 million.
There are many buyers in some of Melbourne’s most expensive neighborhoods. In the fiscal year of 2018-2019, Toorak’s housing transaction volume has barely changed, and the average stamp duty has been reduced from more than 181,000 yuan to less than 149,000 yuan. But in the 2018-2019 fiscal year, the love of overseas buyers for Victorian real estate did not cool down. In this year’s Budget, the government announced a higher tax on foreign real estate owners. The volume of real estate transactions involving foreign buyers has increased by more than 10% to 5,800, bringing an additional $33 million in revenue to the Victorian government.
Https://www.1688.com.au/australia/melbourne/2019/10/31/68247