Ex-rentals make up 40 per cent of Melbourne listings after tax changes

Investors made up more than 40 per cent of newly listed homes for sale in Melbourne in the wake of federal budget changes to negative gearing and capital gains tax. Investors made up more than 40 per cent of newly listed homes for sale in Melbourne in the wake of federal budget changes to negative gearing and capital gains tax, and fewer were now buying established homes, a new report shows. Victoria’s continuing investor exodus is detailed in the new PropTrack Terri Sheer Investor Report, released on Monday, which shows ex-rentals made up the biggest share of residential sales in Melbourne, compared to Sydney and the smaller capital cities. Investor activity in Australia has softened, following a strong 2024 and 2025, with investor loans down 9 per cent over the June quarter, the report shows. RELATED: Melbourne rents climb to record levels Albo’s housing plan fail delivers $11bn black hole Victoria’s land tax scheme $1bn short of plans The falling activity came amid four interest-rate rises and tax changes to effectively the capital gains tax investors pay when they sell from July 2027 and cut negative gearing from newly purchased established residential properties. Despite the o...