Landlord fed up with funding investment property in Victoria prepares for move to Queensland
Nurse Jian Cheng is so infuriated by skyrocketing land tax and other associated costs of owning an investment property in the state that she’s packing up and moving north with her family.
Jian Cheng is fed up with being a landlord in Victoria and is selling her investment property and her family home is next as she plans a move to Queensland.
The 49-year-old nurse said she was unhappy with rising land tax and other costs of owning her investment property in Mooroolbark, and had now put it on the market.
If the sale goes well, she then plans to put her Caulfield home up for sale, too.
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“We’re just ordinary, working people; I’m a registered nurse, my partner is an IT consultant,” Ms Cheng said.
“You look at Brisbane, the property prices are booming, it’s tripled since Covid.”
Ms Cheng said while the land their Mooroolbark property sat on was large, the house itself was quite small.
“So literally we’re paying more land tax and the rental income won’t increase very much,” she said.
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She added that the reason they initially chose to invest in property was for retirement by paying off their mortgages through the tax incentive, so they didn’t have to rely on the government. But rising costs changed the trajectory of their plan.
“We have to sell to live comfortably without worrying about future increasing interest rates,” she said.
“You never know what the Dan Andrews’ government will do next year.
“This Victorian government, every policy is against the people.”
Ms Cheng’s 13 Larbert Rd, Mooroolbark, investment property has been listed with a $780,000-$850,000 asking price via Stockdale & Leggo Croydon’s Chris Price.
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sarah.petty@news.com.au
Originally published as Landlord fed up with funding investment property in Victoria prepares for move to Queensland
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