$17m worth of homes sold at massive Springtime auction event

More than $17 million worth of homes was sold at one auction event in Brisbane on Saturday, during a busy Spring weekend where auctions saw up to 25 registered bidders.

Ray White Collective’s in-house auction event on September 13 saw eight properties under the hammer at the Calile Hotel: with the biggest result a Hamilton home at $6.01 million.

98 Windermere Rd, a five bedroom and three-bathroom house, featured a build completed in 2021 on a large 913 sqm block. The size of the home in an area so close to the city saw a strong showing on the day, with agent Matt Lancashire seeing the eventual sale.

98 Windermere Rd, Hamilton, sold for an incredible result of $6.01 million.

Mr Lancashire also oversaw the sale of a 31 Kitchener Rd, Ascot: a four-bedroom property at the same event.

Originally built in the 1930s before seeing an expansive modern renovation, the house ended up selling under the hammer for $3.9 million.

Auctioneer Haesley Cush said Ray White Collective was finding their auction events were recording clearance rates higher than industry average, selling seven of their eight properties this time.

“We had entry-level homes right through to prestige,” he said. “The entire market stood up and performed.”

31 Kitchener Rd, Ascot, sold for $3.9 million, at an auction where $17 million worth of homes went under the hammer.

“This was our smallest in-room in a while, off the back of compressing stock, but the results show that there is demand for property in the Brisbane market … I think October will be another strong month as we see stock starting to build.”

Meanwhile, the same weekend saw a Mt Gravatt home sell for nearly $3 million, at an auction that brought along a whopping 25 registered bidders.

The five-bedroom home at 29 Sunnydale St, Upper Mount Gravatt, featured a modern internal design along with an Italian stone facade; attracting more than 200 inspections over the course of the campaign.

The home at 29 Sunnydale St, Upper Mount Gravatt, attracted 25 registered bidders before selling for $2.96m.

Lead agent Chander Singh said the home was built by a family as their dream home before an interstate move.

“People were attracted to the scope of the home: there’s not many homes like this in the area,” he said. ”Most of our interest was from large families looking to take advantage of the space.”

After a hectic auction between seven active bidders, the property sold for $2.96 million.

Spring’s rising auction activity saw 93 people walk through 10/135 Park Rd, Yeerongpilly, in a single day.

The three huge auctions came during rising Spring activity in Brisbane’s property market – where a unit in Yeerongpilly, 10/135 Park Rd, saw 93 people walk through an open home in just one day.

Ray White Queensland chief auctioneer Gavin Croft said there were, unsurprisingly, not enough homes to meet what buyers were looking for.

“We haven’t seen an influx of listings come to the market yet,” he said. “So demand remains high, but the supply hasn’t yet met the market.”

“The good news is it looks like October will begin to provide some more choice for buyers.”

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Inside the renovation trick that could help sell your family house in 2025

A Camp Hill family’s house was expanded to fit multigenerational needs – and with a rising cost of living crisis, it may be the key to selling their home for the best price.

Phil and Maria Horton built their home two decades ago for their family; and when they renovated it over the pandemic, they knew the home would have to change to fit their and their kids’ needs.

“There was always a bedroom downstairs, but it was tiny,” Mr Horton said. “[Now], there’s a queen sized bedroom, there’s a rumpus area with its own TV, and it moves out to the pool. There’s still a kitchen there with an oven and a refrigerator – it’s a good space on its own.”

Multi-Generational Living Case Study

Phil Horton and wife Maria, their son Oscar and his partner Katherine O’Dougherty, and their son Dimitri with their dog Bo. The Horton’s home was built decades ago, but renovated to fit multigenerational living needs. Picture: Liam Kidston

The five-bedroom house at 97 Bundah St was expanded to feature more space for their kids, including their son Oscar and his partner Katherine.

The change began in 2020, when Covid-19 pandemic forced many families into the same space for months at a time – with the later cost of living crisis seeing more young Aussies remain at home to save on rent.

“The boys have grown older and Oscar’s girlfriend, she’s been part of the scene for the last couple of years,” Mr Horton said. “You can sometimes hear them when they’re here, but it’s so convenient for them – you don’t know whether they’re here or not.”

97 Bundah St, Camp Hill. Oscar and Katherine live on the lower floor, which is built to feel like they have their own place while staying with family.

Oscar told the Courier Mail he spent at least half his time living in the downstairs space with his partner, using the time to save for a house of their own.

“As I’ve grown older, that downstairs area has turned into a kind of sanctuary,” he said. “Being able to live at home and save allowed me to live the typical early 20s life. I’ve been able to accrue a decent house deposit on my own … [while] doing the things that people who are renting aren’t always able to do.”

Multi-Generational Living Case Study

The home is up for sale with Place Camp Hill, and Oscar said it was thanks to his time in his parents’ house that the young couple could afford a place of their own. Picture: Liam Kidston

But even with both him and his partner saving, Oscar said the housing market had become incredibly difficult to buy into.

“I wouldn’t be able to buy on my own in this market,” he said. “It’s been a luxury that myself and Katherine have been able to stay there rent-free, not have to pay for any expenses … we’re in a position where we’re looking for a three-bedroom townhouse, unlike a one-bedroom unit which I know some of my friends are looking at.”

With more people moving back in with their parents thanks to the cost of living crisis, experts have suggested homes with dual-living features have a wider appeal on the housing market.

Now selling their home with Place Camp Hill, Phil and Maria plan to downsize while Oscar and Katherine step into the housing market. Agent Joanna Gianniotis said the Camp Hill home was a good example of how a renovation with multigenerational features can make the home more popular among potential buyers.

“I think if somebody is renovating and has the opportunity to create a private wing in some way, it will open up the market when they go to sell,” she said.

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Compass adds top-producing agent couple in DC area

Dave and Patricia Smith — a husband-and-wife real estate team with more than two decades of experience in the Washington, D.C., Maryland and Virginia region — have joined Compass.

The pair has closed more than $500 million in career sales volume, averaging about $50 million annually.

They have consistently ranked among the top 1% of Coldwell Banker agents worldwide from 2019 to 2025. So far this year, they have reported more than $40 million in sales. Dave Smith reported $17.15 million in 2024 volume, according to the RealTrends Verified rankings.

“Dave and Patricia Smith have excelled in the market, delivering outstanding results and developing relationships in the DMV area for over 20 years,” said Holly Worthington, regional vice president of Compass.

“We are thrilled to welcome them to Compass, where our platform and community will help to fuel the next chapter of their growth. The Smiths’ proven track record of integrity, success and commitment to their clients makes them a perfect fit for Compass.”

The couple works without assistants or support staff — attributing their real estate success to trust, hard work and long-term relationships.

“We decided to join Compass because we believe its tools will empower us to open doors for our clients that simply aren’t available anywhere else,” Patricia Smith said. “The tools, technology and support Compass invests in their agents and will allow us to deliver the personalized, expert care our clients deserve.

“With Compass, we can guide each client to the next chapter of their journey while feeling confident, supported and expertly advised every step of the way.”

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Hidden landlord costs that could bleed you dry

The state of SA's building activity revealed

Buying an investment property is an exciting milestone – as long as there are no hidden costs. Picture: Ben Clark

If home ownership is the great Australian dream then property investing must be the national sport, with many Aussies looking to property investing as an ideal way to build wealth over time. And let’s face it, the prospect of your tenants paying off a decent chunk of your mortgage each month as the value of your asset grows does sound like an ideal situation.

The problem is, not all investment properties work out to be such great deals. In fact, some can bleed you dry.

Overly expensive bills

Don’t get stung with hidden expenses – do your due diligence before you commit.

HIDDEN COSTS

For the new or not so experienced property investor, there are some costs that may go under the radar at the time of purchase and emerge as hidden expenses later on.

“The hidden costs can catch many residential investors off guard,” CEO of Rethink Group Scott O’Neill says.

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One example is special strata levies, which can unexpectedly take tens of thousands of dollars from your hip pocket.

Insurance is another prime example, the cost of which has “tripled post-floods” he says.

Supplied Money Scott O'Neill, co-founder and managing director of Rethink Investing

CEO of Rethink Group Scott O’Neill.

“Vacancy periods cost you $500 plus weekly – while still paying the mortgage,” he adds.

The biggest killer, he says, is negative cashflow – something that can be worse than expected if you don’t calculate your expenses properly in the first place.

“This is exactly why it’s important to calculate your cashflow on a net basis so you understand your true holding costs,” he says.

FROM DEAL TO DISASTER

Sometimes an investment purchase can look great on paper, but when you look into the details it’s rotten to the core.

“I’ve seen ‘great deals’ become financial disasters overnight,” O’Neill says.

One example was a unit block with major structural issues in which each apartment had special strata levies of more than $50,000.

Michael Pell from Propell Property. Picture: supplied

“One client’s ‘bargain’ apartment needed $80,000 in rectification work,” he says. “Always get proper strata reports and building inspections.”

Red flags to look for include ageing strata complexes, low sinking funds, deferred maintenance and poor or dodgy body corporate management, he says.

MAJOR MAINTENANCE

It’s also important to understand the maintenance issues you will be up against at the time of purchase, says Propell Property managing director Michael Pell.

“There’s lots of things to consider because as properties become 15, 20, 20 plus years old, they can become maintenance headaches,” he says. “Check for concrete cancer, check for asbestos.”

Strata complexes sometimes have special levies.

A Pest and Building report is essential to pick up on any major issues that might need rectifying, he says. It’s also important to check whether the property is in a flood or bushfire zone and whether it is insurable.

“That’s probably the biggest danger – that you buy a property and you don’t understand the maintenance issues or the problems with the property,” he says. “If you haven’t sorted that out upfront, there might be hidden costs for sure.”

HOW TO AVOID HIDDEN COSTS

Rethink Group CEO Scott O’Neill offers the following tips in order to minimise hidden expenses when calculating the running costs of an investment property.

* Strata reports – check the sinking fund balances, special levy history, and upcoming major works. Make sure you get at least five years of body corporate minutes to help you spot any recurring issues.

Enormous amount of money to pay for bills, huge debt

It can be upsetting to fork out huge amounts of money on a problem property over time.

* Pest and building inspections – this is a critical step that can help you identify any structural or maintenance issues.

* Council searches for flood zones, heritage overlays, or nearby development approvals – you need to know what you are up against as time goes by.

* Get insurance quotes before buying – some areas are uninsurable. Make sure you take this step regardless of property type.

* Build a buffer – calculate 1-2 per cent of property value annually for maintenance, plus vacancy allowance.

* Research rent – get rental appraisals from multiple agents and check rental and vacancy data online.

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Transformed: 130-year-old Lachlan kiln reborn as superb home

No.21 Mount Charles Rd, Lachlan. Picture: Supplied

Search all of Australia, hundreds of thousands of properties, and you won’t find one like this.

It’s a true one-of-a-kind.

No.21 Mount Charles Rd, Lachlan has a history dating back to the 1890s.

This historic hop kiln, once known as the Oakley Kiln, has been transformed into a striking four-bedroom home.

The conversion pays homage to its past with unique features, including timber reclaimed from the hop kiln alongside exposed beams, celery top pine posts, and former Hoyts cinema doors.

PRD Real Estate property consultant Stephen Sutton said these elements infuse the home with a warm, rustic atmosphere that is inviting and stylish.

“In the kitchen, there is an old fan turned into a feature. And the timber ceiling is where the hops were once dried,” he said.

“When the owners purchased the property in the ‘90s, the kiln had been used for hay storage. They’ve done an amazing job transforming it into a home.”

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No.21 Mount Charles Rd, Lachlan.

No.21 Mount Charles Rd, Lachlan.

This four-bedroom family home centres around a spacious open-plan kitchen, dining and living area that captures abundant natural light.

The kitchen combines functionality with modern design principles, while the thoughtfully planned bathroom features a separate bath, shower and double vanity.

A conservatory extends from the main living space, providing additional room for relaxation and entertaining guests.

Heating comes via a freestanding wood heater that doubles as the water heating system, supported by electric backup.

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No.21 Mount Charles Rd, Lachlan.

No.21 Mount Charles Rd, Lachlan.

The property’s outdoor spaces include established fruit trees and a productive vegetable garden set within professionally landscaped grounds.

Storage and workspace needs are addressed through a four-bay carport and dedicated workshop area.

The land extends beyond the immediate house surrounds to encompass natural bushland and more than an acre of usable pasture.

In an unusual twist, Mr Sutton found out after listing the property that he had family ties to it. The great-grandparents on his wife’s side of the family had once owned the kiln.

No.21 Mount Charles Rd, Lachlan.

No.21 Mount Charles Rd, Lachlan.

Meanwhile, in 2022, an Ellendale property featuring a huge, triple-level 100-year-old hop kiln, 80ha of land, and five houses sold for $2m.

“Another kiln property was sold at Molesworth, six or seven years ago. They are not common properties, but also don’t come along every day,” Mr Sutton said.

“The Lachlan property has attracted a fair amount of interest. It’s something different, and a number of people have been keen to see it — locals and people from interstate.

“More recently, it has been people from the mainland who have been inquiring about it the most.”

No.21 Mount Charles Rd, Lachlan is listed at “Offers over $849,000”.

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Historic military base still searching for new owner

The Training Depot Drill Hall Complex at 40 Archer St, Rockhampton. Picture: Supplied

A heritage listed military barracks steeped in history remains on the property market after more than 1200 days, sitting on the fringe of a regional Queensland city.

The Training Depot Drill Hall Complex at 40 Archer St, Rockhampton, was once home to the 42nd Battalion, Royal Queensland Regiment (42RQR), an infantry unit that served with distinction in both world wars.

Today, the 1.13ha site retains a number of historical buildings, including a 1906 drill hall, a former drill hall and wagon shed relocated from Mount Morgan in 1928 and a brick Q-store constructed in 1939.

Property data shows the property was sold by the Commonwealth of Australia to Bernlodge Pty Ltd in February 2007 for $1.43m.

It was briefly listed for sale in 2016 before being relisted in May 2020.

The property has remained on the market since, for sale via offer through Pat O’Driscoll of Knight Frank Rockhampton.

The Training Depot Drill Hall Complex sits on a 1.13ha site.

The block features a number of historic buildings. Picture: Supplied

The listing for the complex said it was an excellent development opportunity in the heart of one of Queensland’s strongest regional cities, lending itself to a variety of possible development opportunities including but not limited to retirement village, aged care facility, childcare and hotel/tavern facility or a mixed use development.

“The site includes a number of original buildings that have the option to be repurposed as part of any new development,” the listing said.

The original three-gabled drill hall is full of character features including weatherboard cladding, sash windows, VJ walls, hardwood floors, corrugated iron roof and full skillion roofed veranda.

According to the Queensland Heritage Register, the land the barracks sits on was originally gazetted as a Defence Force Reserve in 1901 and was valued at £2250 at the time.

Battle of Hamel

The compound has a long connection to the 42nd Battalion and its soldiers, such as Private Pte J. D. Denny (second from left), Sgt J. Trapp (centre) and Pte D. R. McGregor (carrying stretcher), photographed with fellow Australian and American stretcher bearers during the battle of Hamel in 1918. Picture: Australian War Memorial E02691

The Training Depot Drill Hall Complex was used by the Australian Army Reserve until 2000. Picture: Supplied

During WWII, the 1906 drill has was used for army medicals while the adjacent parade ground was the assembly point for servicemen on route to camp.

The barracks has been associated with 42RQR since the inception of a volunteer reserve unit in 1884, the beginning of the battalion’s esteemed linage.

The actual 42nd Battalion was first raised in 1915 as part of the Australian Imperial Force during WWI and served on the Western Front before being disbanded in 1918.

In 1921, the battalion was reformed as part of the Citizens Forces and was known as the 42nd Battalion, Capricornia Regiment before serving in New Guinea and Bougainville during the Second World War.

The battalion lives on today as the 31st/42nd Battalion, Royal Queensland Regiment, an Australian Army Reserve Unit.

The unit moved from the Archer Street complex in October 2000.

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Seven’s My Reno Rules ditches auctions for giveaways

Seven has axed auctions from new reno show My Reno Rules in favour of multimillion-dollar home giveaways.

Seven’s My Reno Rules has scrapped auctions in favour of multimillion-dollar home giveaways, a radical shake-up experts say could change lives but risk the show’s credibility.

Hosted by Dr Chris Brown, and launched as a direct competitior of Channel 9 ratings juggernaut The Block, the 2026 series will pit four teams of Aussie battlers against each other in Bulleen.

But unlike The Block, which ends in public auctions, My Reno Rules will give the homes away to viewers through Portelli.

It comes almost a year after Portelli swept The Block auctions in the 2024 series, soending $15 million to buy up every property at the series Philip Island site.

One year on and Portelli is still stuck with the Philip Island homes. After failed attempts to get rid of them, he is now staging another giveaway in November.

Portelli’s last links to The Block, the Philip Island homes, should be gone by the time My Reno Rules airs.

The new show will see contestants face explosive challenges, jackpot cash grabs, immunity keys and curveballs with surprise visits from Portelli designed to flip the leaderboard in an instant. At stake for contestants is a major cash prize.

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But in the “biggest twist yet on Australian television”, two viewers at home will receive a life-changing call during the live finale telling them they’ve won the fully furnished, landscaped multimillion-dollar homes.

LMCT+ founder and billionaire Portelli purchased the properties at 54-56 Pinnacle Cres, Bulleen for about $2.7m and stepped in as principal sponsor.

“You may have seen on previous reno shows they do auctions and unfortunately only 1 per cent of the viewing audience have the potential, or capacity to buy these homes,” Portelli said.

The Bulleen homes at 54-56 Pinnacle Cres, Bulleen will be transformed on My Reno Rules before being given away to viewers. Picture: Supplied

“It’s phenomenal to take viewers on the journey and then actually give them the chance to win one.”

Dr Brown said the Channel 7 series would deliver “genuinely life-changing moments”.

“Imagine winning a brand-new home — that’s the reality for two lucky Aussies,” he said.

Channel 7 director of programming Angus Ross says My Reno Rules will be “next level” for Aussie television. Picture: Seven

“And if you’re a passionate renovator, you could also win a massive cash prize, with the dream of owning your own home still top of the list for most Aussies, I can’t wait to have a front-row seat to that becoming a reality.
“It’s going to be a heartwarming ride.”

Belle Property and Hockingstuart Victoria director Anthony Webb says gifting multimillion-dollar homes is unprecedented, and life-changing for winners. Picture: Supplied

Belle Property and Hockingstuart Victoria director Anthony Webb said the decision was a gamble for Seven but also an unprecedented opportunity.

“From a property perspective, gifting two multimillion-dollar homes is extraordinary,” Mr Webb said.
“It’s not just the house value, it’s stamp duty avoided, years of saving sidestepped, generational wealth created in a single announcement,” Webb said.

Mr Webb said Bulleen was already on a growth trajectory, with North East Link and the Eastern Freeway upgrades — including a new dedicated Eastern Busway — set to supercharge accessibility.

“You’re wedged between prestige areas like Ivanhoe, Heidelberg and Templestowe. Renovated homes there easily top $2m. Whoever wins will be set up for decades.”

Melbourne’s new Eastern Busway, part of the $16.5bn North East Link project, is set to boost property values in Bulleen. Picture: Victoria’s Big Build

M R Advocacy director and buyers’ agent Madeleine Roberts has warned scrapping auctions risks undermining the show’s credibility. Picture: Supplied

M R Advocacy director and buyers’ agent Madeleine Roberts struck a more cautious note.

“Yes, gifting homes will tug at heartstrings, but without valuations or sales, viewers are left guessing at what they’re actually worth,” Ms Roberts said.
“That auction day climax is what gives contestants their pay-off and gives the audience confidence in the result.”

Backing Dr Chris Brown is a judging panel with serious design and property clout: Block veteran Neale Whitaker, Luxe Listings Sydney star Simon Cohen, and interiors guru Julia Green.

Seven’s director of television Angus Ross said the format would be “next level”, while Endemol Shine’s Tara McWilliams described it as “as big and bold as a show can get”.

Host Dr Chris Brown with judges Neale Whitaker, Simon Cohen and Julia Green will steer the My Reno Rules competition. Picture: Seven

Big Brother host Mel Tracina, from Endemol Shine’s production stable, will return to 10 in 2025 in another big TV gamble after it was axed in 2025. Picture: Ten

Endemol Shine Australia also produces Big Brother, Married At First Sight, Survivor and MasterChef.

Filming is scheduled to run from September 26 to November 27, though delays in getting the homes “television-ready” have already caused headaches.

“People will watch in real time as lives are changed forever on national television,” another insider said.
“Between Adrian’s curveballs, the live giveaways and the emotional pay-offs, Seven’s banking on the drama to hook the whole country.”

My Reno Rules will air on Seven and 7plus in 2026.

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Revealed: Alarming number of Aus landlords abandoning rental market

Australia’s rental market is teetering on the brink, with a staggering number of property investors abandoning the sector, pushing an already strained system closer to collapse.

New data reveals a record exodus, driven by escalating costs, a murky legislative landscape, and deep-seated fears over proposed federal tax reforms, spelling disaster for millions of renters nationwide.

The 2025 Annual Property Investor Sentiment Survey, released today by the Property Investment Professionals of Australia (PIPA), paints a grim picture.

A shocking 16.7 per cent of investors offloaded at least one property in the past year – a significant jump from 14.1 per cent last year and 12.1 per cent in 2023.

This marks the highest rate of investor sales since the survey began tracking this metric in 2022, signalling an accelerating trend that is rapidly depleting rental housing supply.

“This isn’t just a continuation of last year’s trend – it’s an acceleration,” PIPA Chair Lachlan Vidler warned.

“We’re seeing a growing number of long-term investors walking away, and the implications for renters are severe.

“The private rental market is losing stock at a time when demand is surging, and policy uncertainty is only making things worse.”

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Supplied Real Estate source: PIPA

Rank in order from best to worst, which State or Territory Government is pro-property investment or anti-property investment.

The investor exodus is far from uniform, with some regions experiencing a particularly sharp decline in rental properties.

Queensland continues to lead the nation in investor exits, with a staggering 35.5 per cent of respondents selling at least one property in the state – up from 33.4 per cent last year. Regional Queensland is particularly hard hit, seeing a sharp rise with 15.8 per cent of investors selling, more than double the 7.6 per cent recorded in 2024.

Victoria followed closely, with 30 per cent of investors selling, and Melbourne, in particular, saw an increase, with 22.1 per cent of investors selling compared to 18.4 per cent last year. Brisbane also saw a significant rise, with 19.7 per cent of investors selling, up from 16.3 per cent, while Perth entered the top three for the first time, with 11 per cent of investors selling, indicating a broadening of the crisis beyond traditional hotspots.

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Supplied Real Estate source: PIPA

Best place to invest in Australia, right now.

Even New South Wales, despite a decline in investor sales to 11.8 per cent, still contributes to the overall pressure on the rental market.

Mr Vidler said the reasons behind targeted sell-offs were clear.

“Victoria continues to see elevated levels of investor sales, and it’s no coincidence,” he said.

“The combination of rising land tax, new vacancy levies, and ongoing tenancy reforms is creating a climate of uncertainty.

“Many investors are simply deciding it’s no longer worth the risk or the cost to hold property in the state.”

This sentiment is echoed across other high-exit regions, where a confluence of factors is making property investment increasingly untenable.

The most alarming finding from the survey is the devastating impact these sales are having on the available rental pool.

Only 42 per cent of properties sold by investors remained in the rental pool, having been snapped up by other investors.

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Supplied Real Estate PIPA Chair Lachlan Vidler

PIPA Chair Lachlan Vidler

A substantial 37 per cent were purchased by owner-occupiers, while 25 per cent went to first-home buyers, effectively removing these homes from rental circulation permanently.

“This shift is structural, not temporary,” Mr Vidler emphasised.

“Once a property leaves the rental market, it rarely returns. We’re watching the slow dismantling of Australia’s rental supply, and tenants are paying the price through rising rents and reduced availability.”

According to survey respondents, the top reasons for selling included reducing overall debt exposure (41.7 per cent), rising holding and compliance costs (40.4 per cent), and increased land tax and government charges (32.9 per cent).

Operational costs also soared, with 39 per cent of investors reporting increases of between 11 per cent and 20 per cent, and a concerning 21 per cent seeing costs jump by 21 per cent to 41 per cent.

“If this trend continues, we’ll see even greater strain on the rental market, and tenants will bear the brunt,” Mr Vidler concluded.

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Short-stay investors reap benefits while renters suffer

Generous negative gearing tax breaks are increasingly propping up the short-stay rental market rather than helping increase the supply of long-term rental homes – and it’s hurting tenants, an alarming new report shows.

The Short-Stay Subsidy report estimates the budget could be losing between $111m and $556m this financial year in forgone revenue through negative gearing deductions claimed on short-stay rental properties.

Across Australia 167,955 homes are estimated to be operating as short-stay accommodation instead of long-term rentals, the report revealed.

These short stay homes were still eligible for negative gearing tax deductions and the Capital Gains Tax (CGT) discount.

If just 10 per cent of these short-stay rentals were negatively geared, the annual cost to the budget would exceed $111 million, the report said.

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Estimated annual value of revenue foregone due to short-stay negative gearing deductions. Source: Everybody’s Home Short-Stay report

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This figure jumps to $556m in estimated annual lost revenue if half of all short-stay investors claim negative gearing deductions.

The report casts a spotlight on renters who say they are being affected by the magnitude of short-stay accommodation, including facing soaring rents, evictions, and in some regions, limited long-term rental supply.

“Everyday people are footing the bill for property investors to write off losses from holiday homes, all while families are being priced out of their communities because they can’t find affordable rentals,” said Everybody’s Home spokesman Maiy Azize.

“Renters across the country are being squeezed by soaring rents and a shrinking number of affordable homes – and in many parts of the country, short-stay accommodation is only making it worse.”

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Maiy Azize

Ms Azize said generous tax breaks for investors, including for short-stay accommodation, are driving wealth inequality and pushing house prices up for everyone else.

“While governments claim to be serious about the housing crisis, they’re doing little to show it,” she said.

“At a time when government funding for public and community housing is falling far short of need, we shouldn’t be subsidising investments in holiday homes and short-stay rentals.”

According to Ms Azize, curbing investor tax breaks for holiday lets is one of the fastest and fairest ways to free up finding for the homes needed.

“If we close these loopholes, the savings could help build more desperately needed low-cost, long-term rentals,” she said.

Over 1,000 results show on an initial Airbnb search for a two-adult stay in Mosman (including surrounding suburbs)

Ms Azize said tax breaks need to be wound back for all investors, but it’s even harder to justify giving these generous benefits to short-stay operators.

“The system is propping up investors who are speculating on short-term rentals during the worst housing crisis in living memory,” she said.

“We shouldn’t be losing public money to underwrite short-stay speculation while millions of people face housing stress, insecurity, or homelessness.”

Tenant frustrations are mounting. Sydney renter Nadia has eight months left on her current rental in Mosman and said the lack of supply was evident. “I’m always searching to be honest,” she said.

Nadia currently pays $750 a week for a two-bedroom in Mosman

“We live in Mosman, my partner and I share. We are just forever not really wanting to live where we live and looking at a better option.”

Both working at home and currently in a two-bedroom property paying $750 a week. Nadia said price is a restriction in the search.

MORE: $200m unit block to be built in Mosman

0/0 Botanic Road, Mosman is a one-bedroom currently listed for $2,100 per week

“We are looking at one-bedrooms now, we pay $750 a week and they are kind of the same price,” she said.

“The other aspect that we struggle with like every renter, is you never end up paying what is quoted even though I know there has been some legislation change, it’s not enough.

“For instance, we moved here in 2023, the advertised price was $675 and we were nudged to offer more to get it – so we were paying more from the start.”

Nadia shared her frustration on homes in the market as accommodation.

21/6 Wyargine Street, Mosman is a two-bedroom currently listed for $3,500 a week furnished

“There’s a place that I walk by in Potts Point all the time, that’s an area that I feel very priced out of, but would very much enjoy living there,” she said.

“I kind of realised the whole building – all but one is Airbnb’d.

“So to know that I can’t afford to live there in that suburb and then literally no one could live there permanently anyway and have it as a home.

This Potts Point one-bedroom apartment is currently listed for $1,200 per week

“To incentivise someone doing that as a tax perspective, when as a full-time working human, I can’t have secure housing, to me it’s unacceptable.”

Now 40, Nadia said she has been renting her whole life and definitely seen the shift in renting following covid and throughout her life.

“Rental inspections, you just expect to see 40 or 50 people there and that’s just crazy,” she said.

“My mum and I growing up would make an appointment with the real estate agent because the rental market was so different.

“Being the age that I am, I’ve seen and lived the exact problem with incentivising property investment because it’s just become a nightmare.

“I feel like I live the insecurity of that every day and it’s only getting worse.

“To me, housing is a human right and not a commodity at the core.”

MORE: Panic buying fuels lightning sales in Sydney’s west

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Abandoned Australia: Plans for derelict Moe Hospital revealed

For nearly three decades, the former Moe Hospital has stood as a decaying relic of the past, its shattered windows and graffitied walls a stark reminder of neglect in Victoria’s Latrobe Valley.

But now, the 13,651-square-metre site in Newborough is up for sale, sparking calls for it to be transformed into desperately needed housing.

The hospital, located on Ollerton Ave, was closed in 1998 as part of then-Premier Jeff Kennett’s consolidation of regional health services.

While the larger Latrobe Regional Health facility replaced it, the Moe site was left to rot, becoming a target for vandals and a blight on the community’s efforts to rebuild its reputation.

A housing opportunity in waiting

With housing affordability and availability reaching crisis levels across the region, locals and experts alike are urging authorities to seize the opportunity to repurpose the site.

Gippsland Homelessness Network (GHN) data reveals that in 2024-25, 3,644 households sought homelessness services across Gippsland, the ABC reports, with nearly 400 of those individuals employed but unable to secure housing.

Latest PropTrack data shows houses in the Latrobe – Gippsland statistical region rent for $460 a week and units for $350.

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Supplied Real Estate The former Moe Hospital at 84-96 Narracan Drive Drive, Newborough, VIC has been listed for sale.

The former Moe Hospital at 84-96 Narracan Drive Drive, Newborough, VIC has been listed for sale.

Supplied Real Estate Still images of the old Moe Hospital. Source: Win News

Still images of the old Moe Hospital. Source: Win News

Supplied Real Estate Still images of the old Moe Hospital. Source: Win News

Still images of the old Moe Hospital. Source: Win News

A significant increase to rental data recorded just three years ago, when house and units leased for $400 and $300, respectively.

Nina Burke, president of Great Latrobe Park and former chair of the Save the Moe Hospital group, believes the site’s potential is undeniable.

“The hospital itself is quite unique; it has very broad corridors and good-sized wards,” she told the ABC.

“It could be redeveloped into apartments, and there is a pressing need for housing.”

Ms Burke also highlighted the site’s strategic location, close to aged-care facilities, public transport, and with ample parking.

She suggested it could even serve as housing for carers or other essential workers.

“Let’s use this infrastructure that we’ve got and think about it creatively,” she said.

“It’s a great, unused community facility.”

A community’s vision for renewal

Retired nurse Judy Redman, who worked at the hospital from its opening in the 1970s until shortly before its closure, echoed the sentiment.

“I think the population of Moe and Newborough are quite sad that it’s sitting there in such a derelict state,” she told the ABC.

“Housing is very difficult – maybe it could be turned into units and sold as private dwellings, or even somewhere for the homeless to live.”

The site’s redevelopment could not only address the housing shortage but also serve as a symbol of renewal for a community that has long felt overlooked.

MORE NEWS: Shocking photos expose outback ghost town

The old Moe hospital on Ollerton Ave, Newborough. Picture: Jack Colantuono

The old Moe hospital on Ollerton Ave, Newborough. Picture: Jack Colantuono

University of Melbourne professor Alan Pert described the hospital as a “powerful symbol” of systemic neglect.

“It’s not just an empty building; it’s a sign of deeper systemic neglect,” he said.

“It raises real questions about designed obsolescence, waste, and short-term thinking in design.”

While the site’s future remains uncertain, the sale has reignited discussions about how to best use the space to benefit the community.

Advocates are calling for government intervention to ensure the site is redeveloped responsibly and sustainably.

A site of controversy and interest

The abandoned hospital has also drawn attention for less savoury reasons.

Earlier this year, six people were charged with stealing $10,000 worth of copper from the site, including 800kg of cabling and plumbing.

Police recovered a stolen truck and tools used in the thefts, with the accused set to face court in the coming months.

The site’s eerie state has also made it a fascination for urban explorers and abandoned property enthusiasts, who have shared its haunting images online.

Supplied Real Estate Source: Stefanie Agrimi/YouTube

YouTuber Stefanie Agrimi took a look inside the old hospital.

Supplied Real Estate Source: Stefanie Agrimi/YouTube

Along with graffiti, Ms Agrimi found some old documents. Source: YouTube.

Among them is YouTuber Stefanie Agrimi who shared three walk-through videos on the former Moe Hospital with her followers last year.

The videos appear to show the hospital’s old service tunnels, where works would have dropped old laundry, stored medical equipment and generators.

One room even appeared to house old floor maps, stuck behind a pipe on a wall.

Other tunnels were covered in graffiti, a sign of the hospital’s attraction for bored youth and explorers.

A new future awaits

The old hospital site has come to the market as part of a three-title site sale, which also includes the former nurse quarters (currently leased to multiple tenants, providing holding income) and a vacant residential infill site, ideal for subdivision or integration into a broader masterplan.

The sale is managed through VicAcres and Melbourne Commercial Group.

No price has been made public.

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