Housing Crunch Deepens: Victoria Loses 20,000 Rental Properties in a Year

Industry experts are increasingly blaming government policies for exacerbating the housing crunch.

A woman and her dog walk past a real estate agents display in Melbourne, Australia on Aug. 6, 2024. William West/AFP via Getty Images

Victoria is grappling with its most severe rental stock decline since 1999, driven by an accelerating sell-off of investment properties.

Recent data from the Department of Families, Fairness and Housing reveals a major drop in active rental bonds—from over 676,400 in June 2023 to around 654,700 by mid-2024.