The Age
·general
·2 hours ago
Melbourne’s falling house prices threaten to blow billion-dollar hole in state budget
Falling house prices are set to significantly impact Victoria's budget, with estimates suggesting a loss of up to $1.8 billion in revenue. Premier Jacinta Allan faces scrutiny amid a $4 billion spending spree as economists warn of a decline between 1 and 4 percent in property values. This downturn threatens the state's record debt and reliance on property taxes.
Summary by Glance · The Age
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