Business and Industry

Quarterly Property Update: Pressure Remains on Pricing

The property market stabilised in Daylesford and surrounding districts over the last six months. Pressure remains on pricing with many properties that have been on the market for at least three months discounting the asking price range by 5- 10%.

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Owners Must Act to Avoid Vacant Residential Land Tax

Property owners who are subject to land tax have been receiving emails from the Victorian State Revenue Office (SRO) reminding them of their obligations in relation to the Vacant Residential Land Tax (VRLT). Owners may need to adjust their rental strategies or explore exemption options to avoid accumulating substantial Vacant Residential Land Tax debts.

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Beware: Only a Week to Go Before 3G Shuts Down

Members of the community are warned that there is just over a week until the 3G network shuts down. Small and family businesses are warned to make sure they do not have their vital business systems and equipment fail when the 3G network is switched off on 28 October.

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Cinema to Return to the Rex

The beloved Daylesford community cinema is poised to make a comeback, thanks to the persistent efforts of the Daylesford Cinema Group. A deal has been struck with the new owners of The Rex which will allow the group to lease the upper floor of the building and complete the cinema shell started as part of the abandoned Rex project.

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Historic Hepburn Bathhouse Lease Renewed

Hepburn Shire Council has renewed the lease to Belgravia Leisure, the current tenant at the historic Hepburn Bathhouse & Spa. The agreement involves Council investment in some structural and drainage works and a $2 million investment by Belgravia Leisure in capital works.

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Short Term Stays Levy is a Blow to the Local Economy

The Victorian Government has announced plans to introduce a 7.5% levy on short stay on total revenue raised through online accommodation platforms to apply from 1 January 2025. The levy will likely increase short stay accommodation prices and may drive many owners out of the market.

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