Melbourne EOFY Property Market Review | June 2025

So here in Victoria, we are probably more affected than anywhere else in the country with property taxes and the impact that it is having, not only on investors making decisions but also tenants making decisions about moving. So on average, we are seeing somewhere between a 25–35% increase in occupancy costs.

Now this is land tax, which has been a big driver in costs here in Victoria, but that has also been driven by council rates and the revaluations that happen annually. And let's not forget, it started in COVID but is still with us—insurance costs. Year on year they are increasing. We are still very competitive nationally, but our occupancy costs have certainly matured in the last couple of years.

Mark Bond, Facey Property