|
|
| 04 May 2010 |
Housing supply the major problem
With the decision to increase official interest rates for the six time in eight months, the Real Estate Institute of Australia (REIA) are concerned that the Reserve Bank of Australia (RBA) has ignored evidence that interest rates should be left on hold.
REIA President, Mr David Airey said the rate increase does little to solve the real problem currently facing the property market; supply.
|
View
|
| 03 May 2010 |
Fundamentals do not support a 50 per cent drop in house prices
The Real Estate Institute of Australia (REIA) have scoffed at comments made by Mr Edward Chancellor in today's Australian; that house prices are more than 50 per cent above their fair value.
"Mr Chancellor's comments compare house prices to income which is very simplistic. We need to consider other factors which are vital components of affordability, such as interest rates and population growth," said REIA President, Mr David Airey.
|
View
|
| 03 May 2010 |
Housing market doesn’t need interest rate brake applied
The Australian Bureau of Statistics (ABS) House Price Index shows house prices in the March 2010 quarter increased by 4.8 per cent.
The President of the Real Estate Institute of Australia (REIA), Mr David Airey attributed this to the compositional changes in the market since the fall in the presence of first homes buyers - an outcome of the cessation of the First Home Owners Grant Boost (FHOF Boost) in December.
|
View
|
| 02 May 2010 |
Taxation reform on housing untouched for now
The Real Estate Institute of Australia (REIA) is disappointed the Government hasn't tackled the hard reforms for inefficient state taxes in its response to the Henry Review, which would have further contributed to economic growth.
"The Government's first wave response to the Review has been confined to reform resource, company and small business taxes and superannuation," said REIA President, Mr David Airey.
|
View
|
| 28 April 2010 |
Caution required on interest rates
The March 2010 quarter Consumer Price Index (CPI) for the housing group, increased by 1.5 per cent compared to all groups, which increased 0.9 per cent. These figures increased 6.1 per cent and 2.9 per cent over the twelve month period respectively.
The President of the Real Estate Institute of Australia (REIA), Mr David Airey said, "The March figures should not be interpreted as rampant demand in the housing sector. We need to examine the factors contributing to these outcomes."
|
View
|
| 24 April 2010 |
REIA welcomes the reinstatement of foreign investment guidelines; just don't make us the 'police'
President of the Real Estate Institute of Australia (REIA), Mr David Airey has welcomed the decision by the Assistant Treasurer, The Hon. Nick Sherry to reinstate foreign investment guidelines relating to the purchase of existing property by temporary residents and foreign non-residents.
“Today’s announcement by the Assistant Treasurer takes the guidelines back to where they were in 2008; foreign investors may only purchase new housing stock and temporary residents may only purchase existing housing for use while they reside in Australia,” he said.
|
View
|
| 16 April 2010 |
REIA concerned for first home buyers
The Real Estate Institute of Australia (REIA) has written to the Treasurer, concerned about the recent moves by the major banks to decrease their loan to valuation ratios (LVRs) for first home buyers.
“The banks have indicated that they have increased the deposit requirements for first home buyers from 10% to at least 15% and in some cases to 20%. Even at 15%, at the current median house price of $514,599, the additional deposit required is almost $26,000,” said REIA President, Mr David Airey.
|
View
|
| 15 April 2010 |
A bit too Keen to change the bet
Another chapter will be written in the story of the infamous bet between University of Western Sydney associate professor of economics and finance Dr Steve Keen and Macquarie Group interest rate strategist Mr Rory Robertson today, as Keen embarks on his more than 200km ‘loser’s’ walk from Parliament House to the top of Mount Kosciusko, for being outrageously wrong about the path that Australian house prices would take after the global financial crisis.
Real Estate Institute of Australia (REIA) President, Mr David Airey said, “It seems Keen has forgotten the original reason why he is walking, or at least, is doing his best to make us forget.”
|
View
|
| 12 April 2010 |
First home buyers in decline
Australian Bureau of Statistics (ABS) Housing Finance figures for February show that, in trend terms, the number of commitments for owner occupied homes has continued to fall.
“The latest finance figures do not support the view of an imminent housing bubble,” according to Real Estate Institute of Australia (REIA) President, Mr David Airey.
|
View
|
| 06 April 2010 |
RBA decision not welcome news
“The Reserve Bank of Australia’s (RBA) decision to increase official interest rates for the fifth time in six months is not welcome news for Australian home owners and those looking to enter the property market,” said REIA President, Mr David Airey.
“The RBA are not making an accurate assessment of the market. There is clear evidence as to why rates needed to remain on hold,” he said.
|
View
|
|
