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| 06 August 2010 |
REIA calls for Government to monitor HAF and NRAS
Real Estate Institute of Australia (REIA) President, Mr David Airey has called on the incoming Government to act on REIA’s recommendation to observe the effects of the Housing Affordability Fund (HAF) and the National Rental Affordability Scheme (NRAS) on housing supply and to conduct a review which considers additional measures to bridge the demand - supply imbalance.
“A factor that contributes to increases in house prices and the decline in housing affordability is the under supply of housing. Supply has been unable to keep pace with demand due to constraints on land availability, lengthy planning delays, skill shortages and lower yields, stemming from the increased cost of entering the property investment market,” he said.
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| 03 August 2010 |
Good news on rates
The Real Estate Institute of Australia (REIA) has welcomed no change to interest rates with the President highlighting it was a much needed outcome.
“With the current state of the housing market continuing to slow, increasing interest rates would have been devastating for home buyers and would have further impacted on the strength of the housing market,” said REIA President, Mr David Airey.
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| 29 July 2010 |
REIA calls for action from Government on proposal for a national property taxation framework
Real Estate Institute of Australia (REIA) President, Mr David Airey has called on the incoming Government to act on REIA’s recommendation for a national property taxation reform.
“REIA wants to see some real action and a commitment to ongoing consultation with stakeholders on inefficient state property taxes raised in the Henry Review. There needs to be a commitment towards abolishing taxes like stamp duty as well as guarantees for the retention of negative gearing and for no capital gains tax (CGT) on the family home or for increased capital gains tax on property investments”, he said.
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| 28 July 2010 |
Continued restraint needed on interest rates
The June 2010 quarter Consumer Price Index (CPI) for the housing group, increased 0.6 per cent – the same increase as the all groups. These figures increased 5.8 per cent and 3.1 per cent over the twelve month period respectively. The housing group is down from the 1.5 per cent level of the previous quarter.
President of the Real Estate Institute of Australia (REIA), Mr David Airey said, “The June figures indicated a housing sector in which demand is well down.”
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| 21 July 2010 |
REIA proposes key issues to be addressed in a comprehensive housing policy
The Real Estate Institute of Australia (REIA) has put forward a proposal to political parties and independent senators, requesting support for a comprehensive housing policy.
“The areas that we are looking for action on are the First Home Owners Grant (FHOG), housing affordability, mandatory disclosure of energy efficiency ratings, national property taxation framework and the Foreign Investment Review Board (FIRB) Guidelines,” said REIA President, Mr David Airey
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| 20 July 2010 |
Didn’t the Government put CGT to bed in 2009?
Real Estate Institute of Australia (REIA) President, Mr David Airey has slammed comments made in today’s Financial Review that the family home should not be exempt from Capital Gains Tax (CGT).
“This is an issue that was put to bed last year; it seems absurd to raise this matter, particularly in the context of an election campaign, when the Government has been very clear that it will not consider imposing CGT on the family home”, he said.
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| 12 July 2010 |
Slide in housing finance continues
Australian Bureau of Statistics (ABS) Housing Finance figures for May show, in trend terms, the number of commitments for owner occupied homes fell 1.2 per cent, compared to the previous month.
“In trend terms, this is the eleventh consecutive month of falls in housing finance. This is the largest number of consecutive declines since the thirteen months between April 1994 and April 1995,” said Real Estate Institute of Australia (REIA) President, Mr David Airey.
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| 06 July 2010 |
Holding interest rates the right decision
Last month, Real Estate Institute of Australia (REIA) President, Mr David Airey appealed to the Reserve Bank of Australia (RBA) to take the state of the housing market into consideration when making their decision regarding official interest rates.
“Fortunately, the Reserve Bank have once again made a considered and accurate assessment of the property market and left official interest rates on hold,” said Mr Airey.
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| 01 July 2010 |
REIA disappointed with outcomes of Inquiry into Access to Small Business Finance
The Real Estate Institute of Australia (REIA) is disappointed with the recommendations of the Economics References Committee Access of Small Business to Finance Report, released yesterday evening.
“Whilst the Inquiry heard substantial evidence that lending to small business had become less competitive since the Global Financial Crisis of 2008, the Inquiry’s recommendations are primarily aimed at not reducing competition further rather than increasing it,” said REIA President, Mr David Airey.
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| 01 July 2010 |
REIA welcomes Productivity Commission’s Review
The Real Estate Institute of Australia (REIA) has welcomed the Productivity Commission’s draft Annual Review of Regulatory Burdens on Business: Business and Consumer Services, released this week.
In its submission to the review, the REIA raised the issue of inconsistent state and territory real property laws. REIA called for uniformity in the laws governing property transactions – highlighting this could be achieved through the adoption by state and territory governments of a Uniform Real Property Act and nationally consistent conveyancing legislation.
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