Geelong’s largest suburbs for rent losses, profit revealed – realestate.com.au

The average real estate investor in Geelong will almost as likely use negative acceleration as new tax figures show the amazing amount that is reported as rental income.

The new data from the Australian Taxation Office unveiled the postal code of 3216, which was outsiders, Highton and Grovedale, the home base of the highest density of investors in the region.

Torquay and Jan Juc (postcode 3218) and Newtown and Geelong (3220) were second and third places, revealed the last tax figures.

The three postcodes, which cover 13 outskirts, form 36 percent of investors who explain the rental income in the region, with just over half that a loss of rent reports.

RELATED: Coastal Retail Strip Hits Record with $ 6 million+ real estate Deal

Renovators excited when buyers splash on Belmont Homes

How many Geelong first-home buyers really need for deposit

Investors in the top three postcodes reported more than $ 213 million in gross rent, almost 40 percent of the total rental income of the region to the tax office.

The data showed that around 26,000 people in the region reported a rental income, with more than $ 536 million.

But the figures showed that 52 percent of investors in the region earned a rental loss, although individual zip codes varied from as high as 66 percent using negative acceleration in the outskirts of Armstrong Creek to 41 percent in Portarlington’s pension hotspot.

Hayeswinckle -director Jessica Scholer said that most landlords were mothers and fathers who wanted to secure their financial future for their retirement.

Hayeswinckle -director Jessica Scholer said that most landlords were mums and dad investors.

---

Mrs Scholer said that most landlords usually have one real estate and have devised five to 10 years of plans to eventually sell the house to increase their pension income.

“We have a few but not many people who have several properties, but in general we get mothers and fathers with one property,” she said.

Increases from real estate tax and compliance costs ensured that many local investors sell in Victoria elsewhere, she said.

“The rules and what you can buy in wa or in Queensland are very different from what you can get here,” said Mrs. Scholer.

“Some people sell and invest interstate. But we see many Interstate investors who want to invest in our market.

“Many of the landlords we get from Interstate use buyer agents or investment companies and they mark Geelong because we have reached the bottom of the market and had a influx of shares with earlier sale of owners.”

The rental income of Geelong investors

Source: Australian Taxation Office. Show data rent, negative acceleration reported by persons who live in postcodes in 2022-23 financial year.

Henning -Real Estate Director John O’Brien said that Interstate Investors were busy looking for local property.

---

Henning -real estate director John O’Brien said that most new investors came from Sydney and Melbourne, but local investors returned as the interest rates fell.

“That is in the back of a really good positivity around Geelong as an investment market,” said Mr. O’Brien.

“I think local investors are a bit let in the play while they waited for a little validation about what they hear.

“We bought six to nine months ago for Melbourne and Sydney investors and usually in Gravedale, Bell Park and Bell Post Hill. We hear many investors buy in Corio and Norlane.”

President Leanne Pilkington of Real Estate Institute of Australia said what was the most striking about the largest postcodes for investor recisions, that few would be considered overly prosperous.

President Leanne Pilkington of the real estate of Australia said that most real estate investors were not overly prosperous.

---

“I am surprised by the areas, they are just not high -quality areas,” said Mrs. Pilkington.

“The conversation always goes around rich landlords and this data shows that the landlords are really just mum and fathers.”

With high levels of negative gearing present in the best zip codes, everywhere of 54-76 percent, she added that it was very likely that many of those investors simply could not pay the houses without negative acceleration.

Real estate investment from Australia, chairman Lachlan Vidler, said that the rental prices have risen considerably in most of the rest of the nation since 2022, there was clearly not enough mum and dad investors to support the tenants of the nation – which means that more had to be done to encourage them.

He said that it became very clear that governments should play a greater role in offering social and affordable homes.