Property market downturn delivers $5 billion blow to Victorian budget
Surplus forecasts cut to $300 million a year as Coalition backtracks on pausing Suburban Rail Loop
Victoria's cooling property market has delivered a $5 billion blow to the state's budget forecasts less than a month before the November 28 election, with a fiscal update handed down today showing an average of $1.3 billion a year set to be shaved from tax revenue over the four-year forecast period.