Editor Sarika Bhalla sbhalla@reiv.com.au Production
Unless otherwise specifically expressed, the views or opinions appearing in The Estate Agent (EA) are those of the authors and do not represent the views of The Real Estate Institute of Victoria Ltd (REIV). The REIV gives no warranty about the
Jacob Caine, REIV President
THE HOUSING CRISIS IS, WITHOUT DOUBT, ONE OF THE MOST PRESSING CHALLENGES FACING AUSTRALIA TODAY.
With affordability at historic lows, rental security under threat and supply failing to keep pace with demand, finding a path forward requires more than just political rhetoric – it demands real-world, evidence-based discussion and policy formulation.
In February, I was privileged to be invited to participate in a rare deliberative democracy forum on housing policy reform. For the first time, a diverse, representative group of 100 Australians engaged in structured deliberation on housing reform. This was not a superficial consultation or a staged debate – it was an in-depth exploration of potential solutions, guided by experts from across the housing spectrum. The Amplify initiative is the brainchild of Seek founder Paul Bassat. It seeks to find “uncommon ground” in the most complex issues confronting the country, and deliver tested policy reforms that governments – federal and state – can pursue to help solve some of these enormous challenges.
I was thrilled to participate in this event as a Challenger (expert) to the proposed Strengthen Renters’ Rights reform. While I strongly support the ambition of improving renters’ security and protections, I raised concerns about the execution of the proposed reforms. My role, like that of other experts, was not simply to argue a position but to engage in meaningful debate, test ideas, and refine our perspectives based on real-time feedback from the Australian public represented.
One of the most striking aspects of the event was the respectful and open nature of the discussions. Too often, policy debates – particularly on housing – descend into ideological trench warfare, where
stakeholders talk past each other rather than engaging in constructive dialogue. The Amplify process was wholly different in that respect.
Over two days, experts and participants engaged in genuine discussions, challenging assumptions while listening to different perspectives with an open mind. This was not about scoring points; it was about finding (un)common ground and refining solutions that could work in the real world.
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This was not about scoring points; it was about finding (un)common ground and refining solutions that could work in the real world
The diversity of participants was another unarguable strength of the process… Seeing the evolution of their views in real time was fascinating and instructive
The diversity of participants was another unarguable strength of the process. Homeowners, renters, young people, retirees, investors and advocates across the political spectrum came together to deliberate on the 13 housing reforms. Seeing the evolution of their views in real time was fascinating and instructive.
The most substantial support among all reforms was for building more homes, reinforcing the urgent need for policies that boost housing supply. Interestingly, renter protections also gained widespread support, including from investors, suggesting that concerns over rental security are being increasingly recognised across the board.
Another major shift was the reassessment of the causes of the crisis. While foreign investment is often perceived as a major factor, the deliberation highlighted the real drivers: high costs, lack of public and affordable housing investment, and excessive regulation. This shift in perspective is crucial if we are to design effective, long-term solutions rather than reactive policies.
At a time when difficult conversations are becoming harder to have, the Amplify model provides a beacon of hope in the increasing murkiness and vitriol of public discourse. It proves Australians are willing and capable of engaging in complex policy discussions without defaulting to partisan positions.
With housing set to dominate the upcoming federal election, initiatives like this will be vital in ensuring that policy is driven by informed, constructive debate rather than political expediency.
Jacob Caine, REIV President
STAY UP TO DATE WITH NEWS AND MAXIMISE YOUR MEMBERSHIP!
As we approach the annual membership renewal period (1 July, 2025 to 30 June, 2026), now is the perfect time to ensure your membership details are up to date. Take a few moments to review and update your information to ensure a smooth renewal process.
If you’re enrolled in Direct Debit and need to update your payment details:
• Click the Invoices tile in your REIV HUB
• Use the Manage Automatic Renewal function to modify your payment methods
• Stay ahead of the renewal process—update your details today!
Update your profile Log in to your REIV HUB and navigate to the My Profile tile to:
• Update your contact details
• Review and refine your areas of expertise
• Manage your email preferences
NOMINATE AN ACCOUNT ADMINISTRATOR
The Office in Effective Control can designate an Account Administrator for their REIV Office Membership Account. The administrator will be able to:
• Order printed forms, REIV diaries, stationery and other supplies
• Pay invoices billed to the office membership
• Contact the REIV for queries or assistance on behalf of the OIEC
• Maintain the office profile on the REIV website
Important: The Nomination Form must be completed by the OIEC only.
Nominate an administrator
In property purchase transactions, the right to cool off is usually encountered on a day-to-day basis by estate agents.
The limits are prescribed in section 31, and are: There is no right to cool off if the sale is by publicly advertised auction and the land is bought within three business days before or after, or on the day of, the auction.
The limitations are:
• Only a natural person/s may exercise the right. Entities such as businesses cannot “cool off”.
• Not available on transactions where land is used primarily for industrial or commercial purposes.
• Not available on transactions where the land is more than 20 hectares and used primarily for farming.
• Not available to buyers who are real estate agents or an agent’s representative within the meaning of the Estate Agents Act 1980.
There are also other limitations. If a vendor exercises their right to cool off and subsequently enter into
REIV Information Officer
Jim Lourandos
a later contract for the sale of the land in substantially the same terms as an earlier one, the buyer’s right to cool off is not revived. However, if the price or any other significant terms have changed the contract will not be substantially the same, and the right to cool off will apply to the later contract.
After signing a contract, a buyer has three business days to cool off. The countdown begins on the morning of the next business day, after the contract is signed. For example, if a buyer signs a contract on a Friday, the clock starts ticking on the following business day being Monday and continues until the stroke of midnight on the coming Wednesday. Time starts running whether or not the vendor has signed the contract. To cool off, a buyer gives a notice to the vendor or agent within the three business days. The notice may simply be via email or delivered to the agent’s office.
On cooling off, the buyer’s deposit must be immediately refunded, less $100 or 0.2 per cent of the purchase price, whichever is the greater.
* Business day means any day except a Saturday or Sunday or another whole day or any part of which is observed as a public holiday throughout Victoria.
* A “corporate body” under the Corporations Act refers to a legal entity, like a company or association, that is recognized as having a separate legal existence, allowing it to own property, enter contracts, and sue or be sued in its own name, essentially acting as a “person” in the eyes of the law; essentially, any organization registered as a company under the Corporations Act is considered a “body corporate”.
Key points about a corporate body: Legal status: A corporate body is a legal entity distinct from its owners or members. Defined by the Corporations Act: In Australia, the Corporations Act 2001 defines what constitutes a “corporate body”. Examples: Companies, incorporated associations and certain government entities can all be considered “corporate bodies” depending on the specific legislation.
The Consumer and Planning Legislation Amendment (Housing Statement Reform) Bill 2024 introduced a range of rental reforms. The summary below focuses on the key reforms and the intended commencement time frame. Please note, this is not an exhaustive list of all aspects of the Bill.
Repeal of remaining ‘no reason’ notices to vacate which currently allow rental providers to evict renters without a reason for the first or initial fixed term residential rental agreement
Rental providers will be prohibited from evicting a renter after the first or initial fixed term residential rental agreement, without a reason. Rental providers may continue to rely on current mechanisms in the Residential Tenancies Act 1997 (RTA) to support genuine reasons for eviction including where a renter has caused serious damage to the property or has failed to pay rent.
Prohibit rental providers or their agent from accepting unsolicited bids of rent higher than the advertised amount or accepting payment of rent of more than one month in advance.
*Penalties will apply of 60 penalty units ($11,855.40) and 300 units for a body corporate ($59,277) for contravention
• These reforms are intended to level the playing field between prospective renters.
• Rental providers and agents will not be able to accept any offers for higher rent from prospective renters to get an advantage in securing a property. Rental providers and agents can be prosecuted if they accept unsolicited rental bids.
• The reform to prohibit rental providers and agents from accepting unsolicited offers of rent more than one month in advance, like rental bidding, is intended to stop offers of more rent in advance being offered to secure rental properties and give some renters an unfair advantage over others.
Bill commencement date is 25 November, 2025, or earlier by proclamation.
Bill commencement date is 25 November, 2025, or earlier by proclamation.
None. Rental providers and real estate agents can rely on existing Notice to Vacate provisions in the Residential Tenancies Act, such as the renovation or sale of a rental property being reasons for evictions.
Rental providers and agents will need to adjust existing practices to notify prospective renters that it is illegal for agents to accept offers to pay higher rent than an advertised amount or rent in advance of more than one month.
Educational materials and alerts for real estate agents explaining the new reforms, consequences of noncompliance and how they are different to previous reforms around rental bidding.
Amend the notice to vacate and notice of rent increases periods from 60 days to 90 days for rental agreements relating to residential rental agreements, rooming houses and caravan parks and moveable dwellings
• Agents and agents’ representatives will need to update practices and processes to comply with the new timeframes.
• Agents (and rental providers) will need to use the new notices that will be prescribed in the RT Regulations and will be coordinated with commencement of these provisions.
Act commencement date is 25 November 2025, or earlier by proclamation.
Amendments to Schedule 1
(Standard Forms) of the Residential Tenancies Regulations 2021 (RT Regulations) will be required relating to notice of rent increase form.
Reforms to RT Regulations will progress in 2025.
4. Make rental applications easier and protecting renters’ personal information when applying for rental properties
Standardised rental applications will be developed and will require rental providers and their agents to use a prescribed form for rental applications
*Penalties will apply of 60 penalty units
($11,855.40) and 300 units for a body corporate ($59,277) for contravention
Require the holder of renter’s personal information to take reasonable steps to protect that information
*Penalties will apply of 60 penalty units ($11,855.40) and 300 units for a body corporate ($59,277) for contravention
• Agents will be required to use the new prescribed standard form rental application which will only permit specified information to be requested from rental applicants.
• This reform is intended to better protect renters’ personal information and to limit the type of information to only that required to confirm the identity and capacity of a prospective renter to pay the advertised rent. The information that can be requested, includes:
• Identity information
• Financial information
• Information relating to employment
• Other prescribed matter.
• This reform will align with Victoria’s Privacy and Data Protection Act and the Commonwealth Privacy Act.
• The reform is intended to ensure personal information provided renters is appropriately stored and protected, and to limit the monetisation of personal data provided by renters
• This reform also addresses the significant data leaks that have resulted in the personal information of private citizens held on business databases
• Agents and other persons will be required to take reasonable steps to protect sensitive renter personal information from:
• Misuse or loss
• Unauthorised access, modification, or disclosure.
Act commencement date is 25 November 2025, or earlier by proclamation.
Consultation with industry and other stakeholders will inform the development of RT Regulations to prescribe the standard form for a rental application.
Further consideration will be given to digital formats for the prescribed form to make its use simple and efficient for renters and agents.
Reforms to RT Regulations will progress in 2025.
Act commencement date is 25 November 2025, or earlier by proclamation.
Educational materials and alerts for real estate agents explaining the new reforms, consequences of noncompliance.
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4. Make rental applications easier and protecting renters’ personal information when applying for rental properties continued
Require the destruction and de-identification of renters’ personal information within:
• 3 years where the renter is successful
• 30 days where the renter is unsuccessful
• 6 months where the renter is unsuccessful but provides written consent to use of the information to apply for other premises
*Penalties will apply of 60 penalty units ($11,855.40) and 300 units for a body corporate ($59,277) for failure to comply with requirements
Offence for disclosing renters’ personal information without consent unless there is an exemption
*Penalties will apply of 60 penalty units ($11,855.40) and 300 units for a body corporate ($59,277) for failure to comply with requirements
• Rental providers and their agent will be required to comply with destruction and deidentification requirements when handling renters’ personal information in a rental application
• Rental providers and their agents will be required to seek written consent from renters when holding their information and using it for other rental properties
• The reforms include some exemptions, including:
• Keeping information on file with written consent from a rental applicant to make subsequent rental application processing easier and faster
• For court processes, health and safety reasons and prosecutions.
• Rental providers and their agent will be required to obtain written consent from the prospective renter or renter for the intended disclosure
• This is a general prohibition on the disclosure of renter information where a renter has not been informed and their consent has not been obtained
• Exemptions to disclosure requirements, include:
• disclosure in accordance with an order of a court/tribunal,
• disclosure is necessary to prevent a serious threat to a person’s life, health, safety or welfare etc.
• This list is consistent with the Australian Privacy Principles and the Victorian Privacy Principles
Act commencement date is 25 November 2025, or earlier by proclamation.
Educational materials and alerts for real estate agents explaining the new reforms, consequences of noncompliance.
Act commencement date is 25 November 2025, or earlier by proclamation
Educational materials and alerts for real estate agents explaining the new reforms, consequences of noncompliance.
4. Make rental applications easier and protecting renters’ personal information when applying for rental properties continued
Offence for a business (rent tech/third party rental platform) to charge a fee as part of entering into a rental application or for payment of rent
Require rental providers to ensure the rental premise complies with minimum standards at advertisement or where an offer for let is made
• Note that rental providers and their agents may still use third party rental platforms but those business will not be able to charge renters a fee for entering into a rental application or for the payment of rent
• Fees will be prohibited for prescribed matters, which include identity, financial and employment information
• This reform is intended to stop the practice of renters being charged to use particular methods or platforms to lodge rental applications
• There will be an ability for additional matters to be prescribed in RT Regulations
• This reform is intended to ensure that rental properties are safe and fit for occupation at the commencement of a rental agreement
• The reform will also address issues that renters face after moving into a rental property that does not comply with the minimum standards and are forced to go through the urgent repair process in VCAT
Act commencement date is 25 November 2025, or earlier by proclamation.
Consultation with key stakeholders will inform the development of the prescribed list of fees that cannot be charged by rent tech.
Reforms to RT Regulations will progress in 2025.
Enhance the rent review framework by prescribing additional matters that the Director of Consumer Affairs Victoria (DCAV) and Victorian Civil and Administrative Tribunal (VCAT) must consider in a rent review
Extending the smoke alarm safety requirements to all rental properties
• Note that the list of matters that must be considered by DCAV and VCAT will be expanded to include other considerations to ensure the rent increases are fair and can be justified against additional criteria
• Additional matters that could be prescribed may include:
• size or proportion of rent increase from the existing rent
• any other improvements made to the property since the last rent increase
• Rental providers and their agent will be required to ensure smoke alarm safety checks are undertaken for all rental agreements, whether they commenced before, on or after 29 March 2021
• A 12-month transition period will provide enough time to ensure that all rental properties have smoke alarms properly installed
• The reform will implement a Coronial recommendation to prevent avoidable loss of life
Act commencement date is 25 November 2025, or earlier by proclamation.
Act commencement date is 25 November 2025, or earlier by proclamation.
Educational materials and alerts for real estate agents explaining the new reforms, consequences of noncompliance.
Act commencement date is 25 November 2025, or earlier by proclamation.
Consultation with key stakeholders will inform the development of RT Regulations to prescribe the additional matters that DCAV and VCAT must consider in a rent review.
Reforms to RT Regulations will progress in 2025.
Amendments to Schedule 1
(Standard Forms) of the Residential Tenancies Regulations 2021 (RT Regulations) will be required relating to notice of rent increase form. Reforms to RT Regulations will progress in 2025.
THE REIV SENIOR AUCTIONEER OF THE YEAR TITLE IS ONE OF THE MOST PRESTIGIOUS AND COVETED ACCOLADES FOR VICTORIAN AUCTIONEERS.
Judged by an independent panel, all competitors auction the same property in front of a live audience. The competition is open to auctioneers across residential, industrial and commercial real estate sectors. The winner and runner-up represent Victoria at the annual Australasian Real Estate Institutes’ Auctioneering Championships.
The 2025 competition was held on Tuesday, 1 April and Wednesday, 2 April.
Paul Tzamalis of The Auction Company took home the title of REIV Senior Auctioneer of the Year for the third time. Greg Brydon of Apollo Auctions was awarded runner-up.
The competition saw some of the state’s most talented auctioneers display their skills in front of an independent panel through a simulated auction. Following highly competitive senior auctioneering heats, the finalist list was whittled down to four contenders.
Paul secured first place after a captivating display of audience engagement, property insight and storytelling craftsmanship. Tim Solly of the Auction Company and Aaron McDonald of Fletchers Warrandyte rounded out the shortlist of finalists for the day.
Paul and Greg will represent Victoria at the Australasian Real Estate Institutes’ Auctioneering Championships, set to be held from 13-16 May in Adelaide. Further, Paul conducted the Good Friday Appeal auction in Mount Duneed for the Royal Children’s Hospital on 18 April.
Paul, a three-time winner of the esteemed Senior Auctioneer of the Year title, said: “You can always say that you’ve got a better performance in you, but I felt like it was strong, and I’m really happy with it. Every year I compete, I take a step up, so all I can do is measure myself on the year before – and I feel like this year was better than last year. That’s all I can hope for.”
Entries open: 1 July
Held annually, the competition provides a great platform for new auctioneers to strengthen their expertise and experience and compete for the coveted REIV Novice Auctioneer of the Year Award.
The competition is open to auctioneers who have no more than 12 months’ experience in calling public auctions; and called 20 or fewer auctions. Auctioneers across residential, industrial and commercial real estate sectors may enter.
REIV President Jacob Caine extended a warm congratulations to Paul for his outstanding performance during this year’s competition.
“In an industry where personality needs to shine through to stand out, Paul captured the moment and elevated an energy to the sale that vendors seek out,” he said.
“I’d like to congratulate all auctioneers participating in the competition – it is an opportunity for the sector’s best and brightest to thrive in a high-performance environment.
As Victoria’s auction market heats up in 2025, vendors should pay close attention to the auctioneers who took centre stage yesterday.”
REIV CEO Kelly Ryan emphasised the opportunities for professional growth through the REIV Senior Auctioneering Competition.
“The Auctioneering Competition is one of our flagship events,” she said. “Standing in a room of their peers gives Victorian auctioneers the chance to level up and bring their A-game. I can see they all really delivered their best. I look forward to watching where all our competitors head from here.”
FIVE RECOMMENDATIONS TO SUPPORT THE GOVERNMENT’S EFFORTS TO BOOST THE HOUSING SUPPLY, ENSURE A SUSTAINABLE RENTAL MARKET, AND FOSTER A PROFESSIONAL AND EDUCATED WORKFORCE.
The REIV recognises and welcomes the government’s efforts to boost Victoria’s housing supply through its Housing Statement. However, a sustainable and effective taxation environment must be in place to attract and retain investment in Victoria. Without adequate access to capital and investment, the ambition to build 800,000 new homes over the coming decade is unrealistic.
More than a year after the announcement of the Housing Statement, the Victorian Government’s 2025-2026 budget provides a critical opportunity for the property sector through tax and regulatory reform.
Notwithstanding challenges to the housing sector, whether fiscal, jurisdictional, or regulatory, it presents the chance to stabilise and improve housing affordability and availability, provide meaningful support to the real estate workforce, and ensure a sustainable property market for the years to come.
The REIV has advocated its ambition for broad property tax reform in prior submissions and uses the 2025-2026 budget submission to focus on specific policy initiatives that will assist in achieving the government’s vision of improved access to housing for Victorians. These policies advance the government’s supply agenda. The REIV has introduced three core policy proposals to the government, which are detailed in recommendations two, three, and four. Rather than act as a broad agenda, these proposals provide frameworks with suggested means of design, implementation, and preferred outcomes. The REIV would welcome the opportunity to develop these further with the government.
The recommendations in the budget submission have myriad benefits for stakeholders. These include stabilising the rental market, reducing financial imposts for rental providers and renters, ensuring that rental properties are provided for long-term renters rather than short-stay guests, and diversifying Victoria’s rental housing supply ahead of the state’s substantial population
The Victorian Government’s 2025-2026 budget provides a critical opportunity for the property sector through tax and regulatory reform
growth. Both the supply and demand sides of housing provision require adequate support to ensure the sustainability of Victoria’s housing market.
Ongoing regulatory reform has significantly impacted investor sentiment in Victoria. While the REIV welcomes amendments to improve the rental ecosystem, the sweeping and sustained changes, combined with high interest rates and taxes, have resulted in increasingly challenging rental market conditions for all participants.
Budgetary decisions must consider the overall market context and existing challenges.
Victoria is overwhelmingly reliant on property taxes, with the FY2023 reflecting 43.8 per cent of state tax revenues generated from the real estate sector. Repeated increases and the expansion of land tax have increased property ownership costs, the short-stay levy has acted as an imposition on holiday homeowners and tourists alike, and the windfall gains tax has been
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an oppositional force for developers, often causing roadblocks for critical construction projects. Victoria’s dependency on these property taxes, which are frequently incurred by investors who bolster development and rental supply, has alienated a cohort pivotal for the government to realise its Housing Statement objectives.
Onerous taxation will reduce critical investment at a juncture where capital is crucial
Previous years’ submissions have outlined concerns about the ongoing impacts of overzealous property taxation, which are not recounted here.
While recognising the Victorian Government’s urgent prioritisation of balancing the budget and placing Victoria’s fiscal state on a sustainable pathway, onerous taxation will reduce critical investment at a juncture where capital is crucial for realising the Victorian Government’s housing ambitions. The objective of increasing Victoria’s housing supply may remedy most of the state’s housing challenges. However, it must be supported with tax reform to stimulate investor interest.
Feedback from the REIV’s membership indicates the following trends:
• Loss of rental properties Rental providers sold or withdrew properties from the long-term rental market due to rising costs and significantly increased and changing regulations.
• Increased dispute backkog VCAT’s backlog of rental disputes grew due to an increasingly complex caseload.
• Lack of qualified Property Managers
Challenges in retaining qualified Property Managers compounded by difficulties finding and training people to take up residential property management roles.
Read the full report
ESSENTIAL SAFETY MEASURES ARE VITAL FOR THE LIVES, SAFETY AND HEALTH OF A
BUILDING’S OCCUPANTS
OVER
ITS DURATION. IT’S IMPORTANT
FOR
THE BUILDING OWNERS TO BE INFORMED OF THEIR OBLIGATIONS REGARDING MAINTENANCE OF ESMS.
Essential Safety Measures (ESMs) are components of a building that are provided to protect the occupants in the event of a fire. They do this by providing early warning of a fire slowing or suppressing the fire and providing evacuation routes to allow occupants to safely egress the building.
ESMs can take many forms, but they’re broadly categorised into active measures and passive measures.
Active measures consist of systems that suppress fire, such as fire extinguishers and sprinklers, or warn and guide occupants, such as fire detection systems and emergency lighting. Mechanical ventilation systems can also play a role by managing the spread of smoke.
Passive measures such as fire and smoke walls and doors may go largely unnoticed but perform a vital role. These building elements are carefully considered by building designers to slow the spread of fire and require upkeep to ensure they continue to perform as intended.
Means of egress are ESMs that are often taken for granted. Exit doors and egress pathways don’t take an active role but are essential to allow the occupants to quickly and safely evacuate the building. Pathways are required to be kept clear and doors that are within evacuation routes are required to operate in specific ways.
Part 15 of the Victorian Building Regulations 2018 requires the maintenance of ESMs for all buildings that are of a class 1b, 2, 3, 5, 6, 7, 8 or 9. This maintenance requirement also extends to class four parts of buildings and places of public entertainment.
The class of a building is defined under part A6 the National Construction Code, though a building surveyor will prescribe what class a building is when issuing the building’s occupancy permit.
The building class sets out what the building may be used for by the occupants. For example, a class 5 building can be used as an office and
a class 6 building can be used as a retail shop.
The only buildings that are exempt from part 15 of the regulations are class 1a buildings (private detached homes) and class 10 (non-habitable buildings).
ESMs must be regularly maintained and looked after. The maintenance obligations for a building will be specified in the maintenance schedule issued as part of a maintenance determination or an occupancy permit, depending on when the building was constructed or if any alterations have been carried out that would have required a building permit. The maintenance schedule lists the essential safety measures along with information as to the performance, maintenance standard and frequency of the maintenance.
of the building, however, in some cases the owner may shift costs onto tenants.
For older buildings, such as those constructed before 1 July, 1994, which have not undergone any changes, there may not be a maintenance schedule to refer to. In this case, the building owner is required to maintain all required ESMs in a state that enables them to fulfill their purpose.
It is essential that maintenance and servicing are performed by a qualified and experienced professional.
The responsibility for meeting these requirements falls on the building owner, the building owner’s agent or the building occupier, and should be explicitly outlined in the lease agreement.
The responsibility ultimately rests with the owner
Starting from 23 September, 2020, landlords under retail leases are permitted to pass on the costs associated with repairing, maintaining, or installing ESMs as part of a fitout to their tenants as outgoings. This can only occur if the tenant’s lease, disclosure statement or annual outgoings estimate allows for such charges.
These updates apply to both new and existing leases but do not allow landlords to recover ESM expenses they have already paid.
Additionally, tenants now have the option to agree to take on the responsibility for repairing and maintaining ESMs. These changes stem from the Retail Leases Amendment Act 2020, which modifies the Retail Leases Act 2003.
In residential apartment buildings, it is common for the overall costs to be distributed among the owners corporation, with each owner contributing a share of the expenses.
PLOTTING RESIDENTIAL SALES VOLUMES ACROSS THE GEOGRAPHIC SPREAD OF METRO MELBOURNE, THE MID-POINT HAS SHIFTED MORE THAN 2KM WEST OVER THE PAST TWO YEARS. THIS IS AN INDICATION THAT POPULATION GROWTH IS LEANING TOWARDS THE WEST AND HOLDS TRUE FOR BOTH HOUSE AND UNIT SALES.
Geographic midpoints of house and unit sales have shifted towards north and west since 2015.
The geographic centre for house sales moved more than 2km west from Camberwell to Hawthorn compared to 2020, driven by the growth of suburbs such as Wollert and Mickleham, which ranked fourth and eighth for the number of house sales in February. Ten years ago, these suburbs ranked 171st and 402nd, respectively.
The midpoint for unit sales has moved north
from Toorak to Richmond as buyers found greater opportunities in northern suburbs such as Reservoir, Pascoe Vale and Northcote. Northcote climbed from having the 38th highest number of unit sales in 2015 to now ranking 11th last month, while Pascoe Vale climbed from being the 27th most active apartment market to the ninth most popular.
January is usually the quietest month in the real estate market due to the holiday season and reduced availability. We will be observing the movement across the month of February as the housing market activity picks up ahead of the autumn season.
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The centre of residential sale activities shifted towards northeast in February compared to the previous month, drifting away from the beachside suburbs that are seasonally popular in the month of January. Reservoir, located 12 km north of CBD, nearly tripled the previous month’s sale figures to 58 in February, the fifth highest in metropolitan Melbourne.
Pakenham had the third-highest number of residential sales in January 2025, 53km from
Melbourne CBD in the southeast, as this busy market pushed the geographic centre of sales further east in February. Frankston, 54km south-east of the city, had the sixth-highest number of sales, contributing to this trend.
More than half of house sales in Melbourne were east of Malvern Station in February while more than half of unit sales were west of Burnley Station.
Unsurprisingly for units, Melbourne CBD had at least doubled the sales of any other suburb, followed by inner city suburbs such as St Kilda, South Yarra, and Southbank. However, a few outer suburbs bucked this trend with Ringwood having the 10th highest number of unit sales above denser inner-city areas such as Port Melbourne.
House sales tended to be further east than units with Doreen and Clyde North, both in eastern outer Melbourne, among the top 10 highest selling suburbs. Each of these suburbs did not have any
apartment sales last month while having over 30 house sales, showing buyer preferences for larger blocks and more space in the outer east.
This might indicate that demand for houses remains strong in the eastern metro region.
For more information, email our research team or submit your inquiries on our website.
Contact research team
Submit an inquiry
IF YOU’VE RECENTLY STARTED YOUR REAL ESTATE BUSINESS OR ARE PLANNING TO DO SO, THIS IS THE EVENT FOR YOU!
The REIV has launched a webinar series to assist new Members embarking on setting up a new business. The webinars are designed to help new agencies hit the ground running. Our expert REIV team, along with key industry partners, will guide you through the must-knows of setting up a successful real estate business.
What you’ll learn:
• Business registrations and licenses –What you need and where to get it
• Governance – Understanding key legislative and regulatory bodies and how they support you
• Business insurance – Learn about your options and how to manage risks (presented by Aon)
• Human resources – Essential dos and don’ts, plus real estate-specific HR support (including a session by REI Super on managing employee superannuation)
• Contracts and authorities –Discover the benefits of the REIV VicForms solution
• Tech and tools – Essential systems for running a full-service real estate agency
• Live Q&A – Get your burning questions answered by industry experts
Starting a business is both exciting and challenging—but a strong, well-planned foundation will set you up for long-term success.
Free for REIV Members.
Detector Inspector is proud to partner with the REIV. Through our investment in technology and training, coupled with a skilled and enthusiastic workforce of account managers, support team members and field technicians, we strive to make compliance simpler for property managers and rental providers and homes safer for renters. With the leading compliance software in the market and millions of checks completed over the past 20 years, make Detector Inspector your first choice for smoke alarm, gas and electrical safety checks.
More than 500 field services team members work hard to make over 2,500 homes safer every day, and our team of 50 account management and help@DI team support property managers in their important compliance work for their portfolios.
From integration with the popular property management software, to self-service bookings for renters and the industry’s most detailed audit trail to ensure checks are done in accordance with legislated requirements, our technology is best-in-class.
In a world of CAV audits and ever increasing complexity, our Compliance Portal provides you with comprehensive reporting, available on-demand.
If you’re interested to learn more, please email us at reiv@detectorinspector.com.au and one of our team members will be in touch.
Enrol today or speak with our training team about your options
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AS THE PEAK BODY FOR REAL ESTATE IN VICTORIA, WE’RE FOCUSED ON DELIVERING TRAINING THAT RESPONDS TO THE NEEDS OF THE SECTOR.
The newly updated REIV training program is designed to deliver on the feedback from the sector, including employers, learners and the community.
Compliant and up-to-date training material is at the core of the REIV training offering. We know that trainer support can make all the difference to the learner’s experience and the output an employer expects on day one. Every individual undertaking the Certificate IV or the Diploma has access to trainers throughout their course making sure that you’re well prepared for this competitive industry.
Flexible learning options cater to all learning styles:
• Classroom-based training at our state-ofthe-art REIV Training Centre in Abbotsford provides a professional and interactive learning experience.
• Online classroom learning for those who prefer a structured, trainer-led environment, accessible from anywhere.
• Self-paced online learning, giving you the flexibility to study at your speed, utilising the latest in digital learning technology.
Investing in professional development not only strengthens your career, it also enhances the reputation and capability of your agency
EXCLUSIVE MEMBER BENEFITS –SPECIAL RATES AND GROUP DISCOUNTS
REIV Members have access to exclusive pricing on our Certificate IV and Diploma courses. Take advantage of group discounts to upskill your team. Investing in professional development not only strengthens your career, it also enhances the reputation and capability of your agency.
Enrol today or speak with our training team about your options. For more information, email us or visit our website.
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JOIN THE REIV AS A TRAINER!
Do you have extensive experience in the real estate industry and a passion for mentoring the next generation of property professionals?
Join our team of trainers and assessors. If you hold or are willing to pursue a Certificate IV in Training and Assessment (TAE40122 or TAE40116) and have a background in real estate sales, property management or agency leadership, we’d love to hear from you!
• Flexible working arrangements.
• Rewarding role shaping the future of real estate professionals.
• Opportunities to train and assess across Certificate IV and Diploma levels. Contact us
PROFESSIONAL INDEMNITY (PI) INSURANCE IS DESIGNED TO HELP COVER YOU AND YOUR BUSINESS IN THE EVENT A CLIENT ALLEGES THAT YOU HAVE BEEN PROFESSIONALLY NEGLIGENT OR THAT YOU HAVE BREACHED A DUTY OWED TO THEM WHILE PROVIDING YOUR PROFESSIONAL SERVICES AND THEY TAKE LEGAL ACTION AGAINST YOU.
Understanding the basics of PI Insurance may assist you with meeting your obligations under the policy.
PI Insurance is usually a claims-made policy. A claims-made policy responds to claims that are made against you during the policy period that is in force, regardless of when the incident that gave rise to the claim took place, subject to the retroactive date. It is very important that you notify your insurer or broker of any circumstances or incidents which may give rise to a claim, or any claim itself as soon as possible after they occur. For example,
if a client complains to you about the advice you provided, your insurer should be notified at that time, rather than wait until a formal claim is made. If your client does decide to take legal action against you at a later date, you may not be covered if the insurer wasn’t notified previously.
This is why you require a current policy when it comes to PI exposures. If you forget to renew and your policy lapses and then a claim is made against you, there may not be an insurance policy to cover the claim, even if you did have a PI policy in place when the services were provided.
Understanding your obligations under a PI Insurance policy is important because the responsibility of those obligations sits with you. If you don’t understand your obligations, you may miss something which could ultimately impact indemnity under your policy.
Run-off cover provides insurance cover for your past Professional Services after you have permanently ceased work, retired or left your profession. This is particularly important for policies that operate on a “claims made” basis, as claims or complaints can be received years after the Professional Services are provided. If you have a claims-made policy and retire or leave the profession without arranging run-off cover then it’s likely you will not be covered for claims made against you which relate to your previous work –even if you had a policy in place at the time the relevant service was provided.
Because your current claims-made PI policy is the policy which can respond to an insured incident, the retroactive date is important.
Understanding your obligations is important because the responsibility sits with you
If your policy has an unlimited retroactive date, it means your policy can provide cover for a claim, regardless of when the alleged wrongful act, error or omission was committed, including if the relevant professional services were conducted before the commencement of the current policy.
PI Insurance policies require you to notify your broker of incidents that may lead to a claim as soon as possible in case the incident results in legal action at a later date. An example of incidents that may lead to a claim could be someone threating to make a complaint or threatening legal action or realising there has been a breach of confidentiality.
In some instances, claims can be notified years later. If you don’t advise of a known incident before the policy expires, and if legal action is taken at a later time, it is possible that the claim could be denied by the Insurer because you may have failed to meet your obligations under the policy.
This may also be referred to as the Sum Insured. It shows the level of cover provided by a policy, subject to its terms and conditions, including any applicable exclusions. Your policy may have a limit of liability, sub-limits, and an aggregate limit. The limit of liability is typically the amount you are
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covered for any ONE claim, although sub-limits may apply to certain liabilities. The aggregate limit is the maximum amount the policy will cover if there are multiple (unrelated) claims, in any one period of insurance.
This is a document which confirms the details of an insurance policy. It may include details of the policy type, sums insured, professional services or business description, the policy period, and importantly, the entity or insured name.
Insurance policies often apply exclusions for liability that you agree to accept by signing a contact if that liability did not already apply at law. This is sometimes called an assumed liability, as you are assuming responsibility for the risk when this would not have been the case in the absence of the contractual agreement. Often, assumed liability arises by agreeing to an indemnity clause in a contract. Therefore, it is always recommended that legal advice be obtained before signing a contract.
Taking the time to understand your obligations under your PI Insurance policy and being sure you have the level of protection you’re comfortable with should form part of your risk management strategy. Speaking to a broker who understands the risks of your industry in detail can also be a valuable exercise in making sure you’ve ticked all the boxes regarding your PI cover.
Aon is a proud to partner with the REIV to bring members market leading and competitively priced insurance solutions. For a limited time only, you could get 15 months of cover for the price of 12 on all new Real Estate Professional Indemnity insurance policies placed before 30 June 2025*
Is your professional indemnity or business insurance due for renewal? Visit aon.com.au/reiv and get a free quote today.
* T&Cs apply
Contributed by AMLHUB
In response, the Federal Government expanded Anti-Money Laundering (AML) laws to include real estate, which will come into effect from 1 July 2026, and bring real estate agencies under stricter compliance requirements.
This is one of the biggest regulatory changes the industry has faced, and agencies will soon be legally required to take active steps to detect and prevent financial crime.
If your agency provides ‘designated services’, your obligations will include:
• Register with AUSTRAC
• Appoint an AML Compliance Officer
• Conduct customer due diligence (CDD) on buyers and sellers
• Develop a risk-based AML program tailored to your business
• Train staff to ensure they understand compliance obligations
• Establish record-keeping and reporting processes
Agencies will soon be legally required to take active steps to detect and prevent financial crime
It’s advisable to partner with an experienced and trusted AML provider. AML/CTF compliance can be complex. Working with a provider who has a proven track record will not only save time but ensure you’re meeting all legal requirements. With 12 years of AML/CTF experience, AMLHUB is the only AML provider dedicated to real estate. Our platform has managed more than 500,000 property transactions and trained more than 10,000 professionals in AML compliance. Trusted by 75 per cent of the New Zealand real estate market and key industry bodies such as the REIV, Harcourts Cooper & Co (NZ) and REINZ, we’ve already guided agencies through similar regulatory transitions. We’re ready to help you do the same.
Regulations are changing –is your real estate business ready?
Get in touch
CHAPTER COMMITTEES AND REGIONAL WORKING GROUP HAVE NOW COMMENCED FOR THE 2025-2026 PERIOD.
We thank our Committee Members for contributing their valuable time and expertise via these Committees. Chapter and Division Committees provide focal points for REIV engagement with Members to ensure that REIV services and policy priorities meet the needs of Members wherever they’re located, reflecting their particular interests.
We thank our Committee Members for contributing their valuable time and expertise via these Committees
AUCTION
Stavros Ambatzidis
Luke Banitsiotis
Greg Brydon
Harry Li
Robert Ozzimo
Raoul Salter
Geoff White
BUSINESS BROKERS
Grita Angelucci
Ziggy Frankenfeld
Choon Ng
Jatinder Singh
Karen-Lynne Avallone
Massimo Andrighetto
Tonya Davidson
Richard Kerr
Melissa Opie
Janet Spencer
Ritesh Tandon
Eddie Van Pamelen
Melissa Anderson
Katherine Dean
Michael Di Carlo
Anne Donchos
Kelsey Drake
Henry Fields
Megan Miles
Lorraine Russell
Marco Sandrin
Stephen Briffa
Norman Mermelstein
Alex Starr
Kate Yeowart
Sam Zhao
Sabina Aldouby
Roxanne Angus
Amy Blackburn
Leah Calnan
Michael Furlong
Cynthia Hartnett
Alicia Lecky
Zac Muller
Kirsty Patterson
Tracey Dean
Christine Henderson
Lourdes Piscopo
Kulwant Singh
Chris Snell
Milton Cations
Jim Derzekos
Jan Hancock
Peter Lawrence
Stephen Miles
Allan Barrett
Wes Davidson
Joe Fleri
Kellie Gray
John Keating
Daniel Lamanna
Kirsty Patterson
Scott Petrie
Melissa Solomon
Narelle Waller
FROM 1 OCTOBER, 2024 TO 31 JANUARY, 2025 WE WELCOMED 141 MEMBERS TO THE REIV COMMUNITY. BUILDING NEW RELATIONSHIPS THROUGH NETWORKING IS AN IMPORTANT ASPECT OF REIV MEMBERSHIP. PLEASE FIND THE TIME TO REACH OUT TO THE NEW MEMBERS.
Nazih Abbouchi
Adeeb Ahmad
Bhavesh Alvat
Ryan Amler
Max Anderson
Chris Azidis
Priyanka Basak
Seirwan Be-Hanna
Darcy Bennett
Luke Bennett
David Bignoux
Philip Bock
Leanne Bradford
Lee Broughton
Joel Burden
Charles Callis
Xue Cao
Joanna Cao
Giovanni Cataldo
Sarah Catanese
Yuqian Chang
Qian Chen
Xuyi Chen
Alyce Clarke
Bianca Cleary
Jarrod Cloke
Benjamin Codling
Eva Cumming
Isha Dhillon
Sang Do
Vincent Duong
Matthew Edwards
Darren Eichenberger
John Falcone
Elisse Farquhar
Peter Ferrier
James Ferris
Ya Gao
Deeanne Gibson
Jason Gill
Frances Gill
Albana Gjorgjioski
Caglanur Greco
Michael Guyomar
Robert Halit
Oliver Hammacher
Elly Hemati
Ye Hoe
Junmei Hong
Tara Hore
Julian Jardine
Jia Jia
Ahmad Karimi
Navdeep Kaur
Simarjeet Kaur
Amandeep Kaur
Patrick Kilkenny
Sang Kim
Phanindra Kollipara
Vivek Krishnan
Sunil Kumar
Jaymee Le
Lan Kwai Leung
Xinghao Li
Faye Lim
Anand Lohchab
Patricia Lopez
Ning Ma
Lauren Macpherson
Michael Mak
Godwin Masuka
Aaron McDonald
Langton McKenzieMcHarg
Christopher Medawar
Vasil Metelovski
Gurpreet Miglani
Robert Mitchelson
Anthony Molinia
Alexander Morgan
Tasma Murdoch
William Murnane
Juanita Murray
Amelia Natoli
Osmond Newitt
Duy Nguyen
Peter Oates
Harsimran Oberoi
Muthu Pannirselvam
Anthony Patterson
Heiyanthuduwage Perera
Ronald Perera
Marco Pipolo
Lourdes Piscopo
Asif Raees
Jennifer Rodger
Christopher Rodrigues
Mario Ruberto
Androulla Savva
Sidharth Sethi
Pankaj Sharma
Randal Sharp
Harpreet Singh
Harminder Singh
Remoon Slawa
Jake Spargo
Tessa Stirling
Irena Stojanoski
Parshant Sukhija
Damien Sweeney
Jacinta Tang
Yuchen Tao
Fabien Teo
Jillian Toohey
Rebecca Towns
Corinne Turley
Daniel Veronese
Neeru Vimal
Alexandria Wajcman
Gene Walker
Aly Walsh
Liying Wan
Wei Wang
Anthony Watson
Sampath Weerawarna
Pauline Wilkinson
Kelgend Winters
Andrea Winters Mileo
Katie Woods
Jacob Workman
Ripple Wu
Yao Wu
Tingli Wu
Linshan Xie
Daiying Xu
Ramazan Yavuz
Yun Zhang
Yang Zhang
Jiaxing Zhao
Yinan Zhao
Not a Member yet? Join us today!
Become an REIV Member
60 YEARS
Peter Ongarello
50 YEARS
Michael Kurts
Russell Parrington
40 YEARS
Linda Wooley
30 YEARS
Ronald Arthur
Peter Brown
Susan Butler
Jamal Dabab
Adam Gillon
Simon Jones
Duncan McPherson
Theresecia Owins
Mauro Torelli
Brenton Wilson
20 YEARS
Jason Absolom
Theodoros Adelinis
Miriam Atkinson
Jennifer Bakken
Leo Basilone
Wesley Belt
Steve Bloumis
Sam Carbone
Scott Conboy
Mark De Garis
Dennis Dellas
Paul Dines
Manos Findikakis
Maria Findikakis
Janine Gerdsen
Maria Gilantzis
James Gladman
Sujono Goi
Cynthia Hartnett
Adam Joske
Francis Lyford-Pike
Liam McMullan
Greville Pabst
Michael Ramsay
Bradley Seller
Jonathan Shepherd
Richard Simpson
Julie Taylor
Megan Wilson
Barbara Wilkinson
Chad Warden
David Wilson
Michael Vanin
10 YEARS
Rodney Anderson
Bertrand Bienvenu
Nikolai Bourov
Gregory Campbell
John Carkeek
Bruce Coudrey
Stephen Creese
Matthew Crowhurst
Katherine Dean
Emily Dowel
Ivo Elezovic
Lucas Giannotti
Kathryn Guthrie
Thomas Isaacs
Grant Kersley
David Lawson
Andrew Loudon
Christian Marchetti
Luciano Montalti
Donald Olden
Dee-Ann Rawle
Zali Reynolds
Cathy Romagnano
Toni Royston
Charanjit Singh
Adrian Smith
Andrea Sparks
Andrew Stratton
Timothy Ward
Xiaoping Wu
Paterson Veal
Biyun Ye
Hui Zhen Yan
Elizabeth Zulinski
REIV Member since 1951, Fellow of the REI and an REIV Life Member, George Thomson passed away in April 2025.
Over his 65-year career in real estate, George was a significant contributor to the REIV. From committee member to chairman of the inner northern branch, he headed the Property Management committee for more than 20 years, served as a Board Director for more than 10 years and was vice president to Bill Heath (now deceased) in 1982.
George mentored and trained some of the highly respected names in real estate.
Maurice was a long-standing REIV Member of more than 60 years. He served as Chairman of the Melbourne Market Authority and the Oakleigh Centre for the Disabled. He was well-loved as a gentleman and mentor, and will be sadly missed by his family and friends.
THANK YOU TO ALL MEMBERS AND THEIR GUESTS WHO PARTICIPATED IN THE VARIOUS EVENTS AND TRAINING OPPORTUNITIES.
Held on 27 March, the C&I conference offered expert-led sessions on business development, prospecting, lease negotiations and legal strategies to future-proof your agreements.
The 2025 Property Managers’ Conference featured important updates from Consumer Affairs Victoria on the Rental Taskforce and a close look at the new Rental Dispute Resolution Victoria with VCAT, among other informative and engaging presentations and discussions.
PMP RE-LUX is sold out. But not for you. Kolmeo is giving one lucky real estate pro the chance to attend PMP’s exclusive RE-LUX Retreat on the Amal� Coast with return �ights included. Just book and complete a demo by 13 June to enter. T&Cs apply.
Enter now kolmeo.com/DemoToAmal�