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| 08 September 2010 |
Decline in housing affordability relentless
The release of the Real Estate Institute of Australia’s (REIA) Deposit Power Housing Affordability Report has recorded the sixth consecutive quarterly decline in housing affordability in Australia.
“As we had expected, housing affordability has continued to decline over the June quarter. What is of great concern is that we are now heading towards a percentage of income required to meet loan repayments of 35.0%, a level that we have not seen since the third quarter of 1990 - when the quarterly average banks’ variable mortgage rates were at approximately 16.4%,” said REIA President, Mr David Airey.
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| 08 September 2010 |
Slide in housing finance stalls
Australian Bureau of Statistics (ABS) Housing Finance figures for July show, in trend terms, the number of commitments for owner occupied homes was flat, compared to the previous month.
“In trend terms, falls were recorded in all states and territories, except New South Wales, South Australia, Victoria and Tasmania,” said Real Estate Institute of Australia (REIA) President, Mr David Airey.
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| 07 September 2010 |
Australian families spared a rate rise
The Reserve Bank of Australia’s (RBA) decision to leave official interest rates on hold is good news for Australian families”, said Real Estate Institute of Australia (REIA) President, Mr David Airey.
This decision is timely with the release of the REIA Deposit Power Housing Affordability Report for the June quarter tomorrow.
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| 07 September 2010 |
REIA welcomes a resolution on Government
The Real Estate Institute of Australia (REIA) welcomes the resolution as to who will govern Australia into the next decade.
“A decision needed to be made and now that we have one, we can work towards addressing issues that are currently affecting the housing market,” said REIA President, Mr David Airey.
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| 24 August 2010 |
REIA keeps an eye on lenders on behalf of consumers
Real Estate Institute of Australia (REIA) President, Mr David Airey has urged banks and other home loan lenders not to take advantage of the current political situation and increase interest rates above movements in the Reserve Bank cash rate.
“Without a clear outlook on who will govern Australia, the major lenders need to be responsible and make sure they do not take advantage of the political vacuum and raise margins simply because they can get away with it,” he said.
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| 19 August 2010 |
REIA welcomes Coalition’s “Plan for Real Action on Housing”
The Real Estate Institute of Australia (REIA) President, Mr David Airey today welcomed the release of the Coalition’s “Plan for Real Action on Housing”.
Mr Airey said the REIA had written to all major political parties including the Leader of the Opposition, The Hon. Tony Abbott MP requesting the development of a specific housing policy in the lead up to Saturday’s election.
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| 13 August 2010 |
REIA: Housing policy crucial
Real Estate Institute of Australia (REIA) President, Mr David Airey has called on all major political parties to take action regarding housing in the lead-up to the Federal Election.
“Neither the ALP nor the Liberal/National Coalition have developed a specific housing policy in their election campaigns, something that I find quite incomprehensible given that housing is a crucial part of our economy and is currently facing major challenges”, he said.
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| 11 August 2010 |
Government has the right objective but the wrong measure
Real Estate Institute of Australia (REIA) President, Mr David Airey said today’s announcement by the Government to provide cash incentives for workers to relocate is a creditable objective but the wrong measure.
“The appropriate measure is the removal of state based property taxes, such as conveyancing duties”, he said.
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| 09 August 2010 |
Downhill for housing finance
Australian Bureau of Statistics (ABS) Housing Finance figures for June show, in trend terms, the number of commitments for owner occupied homes fell 0.8 per cent, compared to the previous month. In seasonally adjusted terms, the number of commitments decreased 3.9 per cent.
“Except for the purchase of new dwellings, the decreases in lending were across established and construction of new dwellings and across all states and territories, expect Tasmania”, said Real Estate Institute of Australia (REIA) President, Mr David Airey.
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| 09 August 2010 |
REIA applauds bi-partisan support for negative gearing
The Real Estate Institute of Australia (REIA) has applauded both the Government and the Opposition for ruling out the abolition of negative gearing for the purpose of property investment at today’s debate at the National Press Club, Canberra.
“This is fantastic news for renters, affordable housing and real estate investors,” said REIA President, Mr David Airey.
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