Ex-rentals make up 40 per cent of Melbourne listings after tax changes

Key points

• Investors made up more than 40 per cent of newly listed homes for sale in Melbourne following federal budget changes to negative gearing and capital gains tax. A new PropTrack report shows fewer investors are buying established homes, with investor loans down 9 per cent over the June quarter.
• Investor loans for new homes rose 24 per cent nationally. About 85 per cent of recent Melbourne investor sales were profitable, according to realestate.com.au economist Luc Redman.
• Melbourne's median rent rose 5.3 per cent in the past year to a record $600 a week.