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The Key.

EDITION 02

OCTOBER 2026

OUR LATEST UPDATES

DIRECTOR UPDATE

A lot of our focus recently has gone into restructuring our Property Management team to ensure we are positioned correctly to support the growth we are seeing across the entire business.

Our priority is to keep serviceability at an all-time high while building a structure that allows us to sustainably grow over the next five years. It is an exciting period for the business, and we are incredibly focused on ensuring that as we grow, the level of service we provide continues to grow with us.

On the sales side, we continue to generate strong results across the region. Since opening our Moe office, we are being invited through more doors and having more conversations with local property owners. I am incredibly grateful for the trust our community continues to place in our team.

This is Beyond The Keys.

September Market Update

Sales Market

HARLEY ROBINSON
Head of Sales

“Across Gippsland, we are continuing to see strong buyer activity, however the market remains highly price sensitive. Properties positioned in line with fair market value are attracting good numbers through the door early, creating competition and giving vendors the best opportunity to build a strong selling campaign.

By contrast, being overly optimistic on price in the current climate can lead to a property sitting on the market for longer than necessary, which can ultimately impact momentum and the final result.

Affordability continues to play a major role in buyer decision making. The $300,000 to $600,000 price bracket remains particularly active, attracting a broad pool of first home buyers, a few investors that are still buying, and value focused purchasers. Above $600,000, we are finding buyers become increasingly selective, making accurate pricing and a well-executed campaign particularly important.

Larger land holdings and lifestyle properties are continuing to generate strong interest, particularly when the property offers a combination of usable land, quality improvements, and good access to surrounding townships.

September was an outstanding month for Enrich Realty, marking our strongest month of settlements since opening our doors. Despite a more measured and price sensitive market, our sales team continues to generate strong activity and convert that interest into results for our vendors.

James is on track for a record financial year, while Joey and I have reached the milestone of becoming the number one agents in Newborough for the month of September.

Most importantly, these results reflect the continued support of our local community. We are incredibly grateful to every vendor and buyer who continues to trust Enrich Realty and our team with their property journey, and we look forward to carrying that momentum through the remainder of 2026.”

Enrich Sales Performance

11

Properties Sold

?

Coming Soon

34

Enrich Average Days on Market

9

Under Contract

13

Properties For Sale

45

Average Days on Market

September Sold Results

Rental Market

IVY TISHER
Head of Property Management

“This month is all about planning ahead when investing in property.

September has reinforced just how much the Latrobe Valley rental market has changed over recent months. With more properties now available, pricing a property correctly from the outset has never been more important. We are seeing that simply listing a property slightly higher and waiting for the market to respond is not always the best strategy in the current environment. Price adjustments are becoming a much more common and necessary part of the leasing process.

As you will see in the stats in comparison to last month, the average time a property is now taking to lease has increased to around 35 days being just over four weeks. This is an important consideration for rental providers when planning their finances.

A vacant property means no rental income, while loan repayments, rates, insurance and other property expenses continue. Rental providers need to account for the possibility of a vacant period rather than assuming a property will be leased immediately.

For rental providers, retaining good renters has also never been more important. A strong application should be considered carefully and acted on promptly, as prospective renters now have more options available to them and may simply move on to another property if the process takes too long.

Rental providers should also be prepared for the possibility of a longer vacancy period and plan financially for this. With the introduction of the new minimum standards, properties must meet the required standards before they can be advertised for lease. We are now working with RIC Safety Audits as an external provider to complete these checks, given the increasing complexity of the requirements. We are booking inspections as early as possible; however, where a property does not meet the required standards, rental providers also need to allow time and funds for any necessary rectification works before the property can be brought to market.

The rental market has changed, and the approach to leasing needs to change with it. Planning ahead, pricing realistically, maintaining properties to the required standard and being financially prepared for a potential vacancy are all becoming increasingly important.

Rental providers should ensure they have sufficient funds available to cover a vacant period, including ongoing loan repayments and other property expenses. The rental game has changed, and we are taking it head-on to ensure our rental providers are prepared for the market we are now operating in.”

Enrich Rentals Performance

21

Properties Leased

36

Enrich Average Days on Market

18

Properties For Lease

36

Average Days on Market

September Leased Results

LEASING AGENT INSIGHT

“We're seeing a much larger volume of rental properties entering the market than we have over the past 12 months, largely driven by interstate investors and buyer advocates purchasing in the area. This has created more choice for renters, which means properties are generally taking a little longer to lease and rental prices have eased slightly in some segments of the market.

The properties that continue to perform best are those that are well-presented, realistically priced and offer features that renters value. Rental providers who remain responsive to market conditions are still achieving strong results and attracting quality long-term renters.”

— JACINDA | Leasing Agent

Legislation Changes and Updates

COMING MARCH 2027

  • The Victorian Government has announced new Minimum Energy Efficiency Standards for rental properties, which will begin rolling out from 1 March 2027. These reforms form part of Victoria's broader energy efficiency and electrification strategy, designed to improve comfort for renters while reducing household energy costs. While many of the requirements will not apply immediately, now is the ideal time for rental providers to understand the changes and begin planning ahead.

  • 1. Appliance or System Failure

    For heating and hot water systems, the new standards only apply when an existing system fails and cannot be repaired. There is no requirement to replace a functioning system before that time.

    2. New or Converting Rental Agreements

    For cooling, showerheads and ceiling insulation (from March 2027), and draughtproofing (from July 2027), the standards are triggered at:

    • The commencement of a new tenancy agreement; or

    • When an existing tenancy converts to a periodic (month-to-month) agreement.

    For some properties, a tenancy change in 2027 may trigger multiple upgrades at the same time. Planning ahead can help avoid unexpected costs and last-minute works.

What Will Change? The new standards cover six key areas:

  • From 1 March 2027

    Trigger: When an existing fixed heating system fails and cannot be repaired.

    Requirement: An energy-efficient fixed heater with an outlet in the main living area, including:

    • An electric, non-portable, non-ducted reverse-cycle air conditioner or heat pump with a minimum 2-star GEMS heating rating; or

    • An electric ducted heating system with a GEMS Heating Seasonal Performance Factor of 3.2 or above.

    Tip: A reverse-cycle air conditioner can satisfy both the heating and cooling requirements.

  • From 1 March 2027 (Phase 1) and 1 July 2030 (Phase 2)

    Phase 1 Trigger: At the commencement of a new tenancy agreement or conversion to a periodic agreement from 1 March 2027.

    Phase 2 Trigger: From 1 July 2030, all rental properties must comply.

    Requirement: A fixed, energy-efficient cooling system with an outlet in the main living area, including:

    • A non-ducted reverse-cycle air conditioner or heat pump with a minimum 3-star GEMS cooling rating; or

    • A ducted electric air conditioner or heat pump with a GEMS Total Cooling Seasonal Performance Factor of 3.8 or above.

    No action is required if: The property already has a functioning fixed cooling system in the main living area.

  • From 1 March 2027

    Trigger: When an existing hot water system fails and cannot be repaired.

    Requirement: Replacement with an electric heat pump hot water system.

    Gas hot water systems can no longer be replaced with another gas unit after 1 March 2027.

    Tip: Owners with ageing gas hot water systems should begin factoring future replacement costs into their maintenance planning.

  • From 1 March 2027

    Trigger: At the commencement of a new tenancy agreement or conversion to a periodic agreement.

    Requirement: Every shower must be fitted with a minimum 4-star WELS-rated showerhead.

    This is expected to be one of the simplest and most affordable upgrades.

  • From 1 March 2027

    Trigger: At the commencement of a new tenancy agreement or conversion to a periodic agreement, where no insulation or only partial insulation exists.

    Requirement: Ceiling insulation with a minimum R5.0 rating installed by a qualified installer.

    Important: If insulation already exists throughout the ceiling space, even if it is older or below R5.0, it is considered compliant. The requirement only applies where insulation is absent or incomplete.

    Electrical safety checks must also be completed prior to installation.

  • From 1 July 2027

    Trigger: At the commencement of a new tenancy agreement or conversion to a periodic agreement.

    Requirement: Sealing gaps around:

    • External doors Windows

    • Unsealed wall vents

    If the property contains gas appliances, a licensed plumber must complete a gas safety check less than six months before draughtproofing works are undertaken.

    If unflued or open-flued gas appliances are identified, draughtproofing cannot proceed until the issue is resolved.

  • Exemptions will apply where compliance is not reasonably possible, including certain:

    • Apartments serviced by centralised building systems

    • Heritage-listed properties

    • Properties affected by Owners Corporation restrictions

    • Properties where installation is not physically practicable

    From October 2026, rental providers relying on an exemption will need to retain supporting documentation.

  • Many of the required upgrades are eligible for discounts through the Victorian Energy Upgrades (VEU) program. Eligible rental providers may also access rebates through Solar Victoria for approved heat pump and solar hot water systems. These incentives can significantly reduce upgrade costs, making early planning even more beneficial.

  • Although some requirements are still a while away, preparing early can help avoid unexpected expenses and urgent upgrades when systems fail. In many cases, replacing ageing appliances with compliant alternatives before they reach the end of their life can be more cost-effective and less disruptive than emergency replacements.

  • As your property management team, we are already preparing for these upcoming changes and will work closely with you to ensure your property remains compliant and competitive in the rental market.

    • Conducting ongoing reviews during routine inspections to identify potential future upgrade requirements.

    • Monitoring the age and condition of heating, cooling and hot water systems to assist with replacement planning. We will be implemented by having out trades look at this at safety checks so we can make a predicament on the life expectance left on the appliance.

    • Providing guidance on the most cost-effective upgrade options and available government rebates, in support from our trades.

    • Working with trusted trades and suppliers to obtain competitive quotations and recommendations when upgrades are required.

    • Keeping rental providers informed as further details, rebates and implementation timelines are released by the Victorian Government.

    • Assisting with long-term maintenance and investment planning so future upgrades can be budgeted for rather than becoming unexpected expenses.

  • From 1 July 2026

    A new Portable Rental Bond Scheme is expected to be introduced in Victoria (further details are still being confirmed by government).

    Under the proposed framework, eligible renters will be able to transfer their bond from one rental property to another, rather than paying a new bond upfront each time they move. This is intended to reduce upfront moving costs and improve housing mobility

    A small fee is expected to apply for using the scheme. Renters with outstanding rental arrears or active bond claims will not be eligible to transfer their bond.

    Once approved, the Residential Tenancies Bond Authority (RTBA) will facilitate the transfer process and notify all relevant parties, including the rental provider and agent. Standard bond lodgement processes will still apply for the new tenancy.

    In the event of a bond claim, the Victorian Government is expected to underwrite the bond for the vacating property, with any disputes to be determined through VCAT unless a mutual agreement is reached. Where a claim is successful, the government may pay the rental provider directly, with the tenant then required to repay the amount to the state within a set timeframe.

Please note: these details are based on currently available information and are subject to confirmation. We are actively monitoring updates and will provide further guidance as more information is released.

Our New Location: 3 Market Street, Moe.

 

Moe and Newborough, we’re excited for what’s next.

We’re excited to announce that Enrich is expanding into a community where we’ve already enjoyed great success across both sales and property management – Moe and Newborough.

Opening our second office is a significant milestone for our business. It reflects not only the hard work and dedication that has gone into building the Enrich brand, but also the trust and support we've received from our clients since day one.

Whether you're a rental provider who has entrusted us with the management of your property, a buyer who has attended one of our open homes, or a vendor who has chosen us to sell your property, every interaction and opportunity has contributed to this achievement. For that, we are incredibly grateful.

Our expansion into Moe and Newborough represents the next step in our commitment to providing exceptional service and local expertise across the region.

Establishing a dedicated presence in the community will allow us to better support our clients, strengthen local relationships, and continue delivering the personalised experience that Enrich is known for.

We look forward to becoming an active part of the Moe and Newborough community and working alongside local residents and businesses for many years to come. There’s plenty more to share in the coming weeks, and we can’t wait to take you on the journey with us.

You can find some of us at our new location, 3 Market Street, Moe, while the rest of us will still operate out of the Trafalgar office at 67 Princes Hwy, Trafalgar.

Enriching Life Thorough Property.

Enriching Life Thorough Property.