Investor exodus from Victoria resumes after federal budget

65 Bambra St, Croydon, was sold by its investor owner at auction yesterday to a first-home buyer couple. A shocking investor exodus that has almost twice as many landlords selling out of Victoria as are buying in has resumed in the aftermath of the Albanese government’s May budget. It comes as lending data from the Australian Bureau of Statistics this week revealed the number of first-home buyers taking out loans across the state is on track to surpass the numbers buying an investment in the coming months. REA Group auction data yesterday showed 54.4 per cent of the 443 auction results collected yesterday were a sale, in a sign that a rebound in sales has continued after Melbourne last week notched its best clearance rate since March. RELATED: Albo buyer ban to hit Melb auctions this week Cheap Victorian and Tasmanian suburbs brace for home price boom Melb renters coughing up price of a new car annually But figures from the state’s biggest auction firm, Ray White, have renewed alarm bells for the state’s renters. Ray White Victoria chief auctioneer Luke Banitsiotis said the firm’s auction data showed just 16 per cent of their buyers at auction were investors at the moment, but a wh...