REIA HIGHLIGHTS IMPORTANCE OF NINE TRILLION DOLLAR RESIDENTIAL REAL ESTATE SECTOR TO AUSTRALIAN VOTERS

February 24th,2022

The number of first home buyers fell by 12.6% over the September quarter of 2021 due to fears about rising interest rates, rising living costs and a lack of listing driving prices up in capital cities.

 

Real Estate Institute of Australia (REIA) has highlighted the importance of Australia’s 9 trillion-dollar residential real estate market to Government and Opposition in its Annual Advocacy Tour.

 

“We had very productive meetings with Minister for Housing Michael Sukkar MP to discuss how to increase home ownership, address housing affordability concerns. When meeting the Chair of the Standing Committee on Tax and Revenue, Jason Falinski, discussion focused on the importance of unlocking further housing supply in this phase of the COVID-19 pandemic.

 

“We also met with Shadow Treasurer, Dr Jim Chalmers and Shadow Housing Minister the Hon Jason Clare MP on key issues affecting the housing market.”

 

Mr Groves said it was positive that for the first time in over six years negative gearing and CGT settings will go into the Federal Election with support from both major parties.