Media Releases 2014
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Date of Release
19 December 2014
Chris McGregor from Tasmania has been re-elected for a second term as President of the Australian Chapter of the International Real Estate Federation, known as FIABCI Australia, for 2014-2016.
His re-election follows the Annual General Meeting of the Australian Chapter yesterday. FIABCI is a federation of 100 national real estate associations, including the Real Estate Institute of Australia (REIA) and is a global advocate for the profession.
11 December 2014
The Real Estate Institute of Australia has welcomed the election of the new President, Neville Sanders from Victoria and Deputy President, Hayden Groves.
Mr Sanders was elected to the presidency today at the Annual General Meeting held in Canberra.
10 December 2014
The Real Estate Institute of Australia has slammed moves by the Australian Prudential Regulation Authority to clamp down on home lending and the Australian Securities and Investment Commission’s review of interest-only loans.
REIA CEO Amanda Lynch said “These attempts to introduce tighter controls on housing loans and target property investors are totally unnecessary and a blunt instrument that adversely affects the entire market and not just one or two hotspots.”
10 December 2014
A new report released today shows a cooling housing market across Australia with strong growth in Sydney the exception.
The latest edition of the Bendigo Bank/ REIA Real Estate Market Facts report, released today by the Real Estate Institute of Australia, provides a comprehensive national snapshot of the sector using the latest data for the September Quarter 2014.
At $843,994, Sydney’s median house price is the highest among the capitals while Hobart remains the lowest median house price across Australian capital cities at $360,000. This is a significant difference of $486,994.
REIA CEO Amanda Lynch said, “The release of these figures is very timely given the recent developments last week that saw analysts shift from expectations of a rate rise in 2015 to the possibility of a rate cut.”
08 December 2014
The Real Estate Institute of Australia has welcomed the release of the Financial System Inquiry as a valuable opportunity to identify the scope for reforms but has reservations that some recommendations could burden home borrowers with additional costs.
REIA CEO Amanda Lynch said, “The recommendations around capital holding could result in further costs to borrowers and we are particularly concerned about first home buyers who are already at record low numbers as well as adding pressure to the establishment of new housing.”
04 December 2014
The Real Estate Institute of Australia has made a strong case in support of small business in lodging its submission to the Harper Competition Policy Review Draft Report. In its submission, which is publicly available, REIA highlights how intellectual property can be dominated by large corporations in a bid to stifle competition and uses the specific example of trademarks for website domain names.
REIA CEO Amanda Lynch said, “The experience of REIA and others is that big business trademark grabs not only have a major adverse impact on competition, particularly for small business but they are deliberately used to reduce competition – which is something we strongly oppose.”
03 December 2014
The latest edition of the Adelaide Bank/ REIA Housing Affordability Report for the September Quarter 2014 has some good news for potential home buyers – and just in time for Christmas!
This new report, released today, shows an improvement right across Australia in housing affordability with the proportion of income required to meet loan repayments decreasing by 0.5 percentage points to 30.4% during the September quarter.
27 November 2014
Australian real estate agents have welcomed today’s release of the report into Foreign Investment in Australian residential real estate with the main recommendations backing initiatives lobbied for by the Real Estate Institute of Australia (REIA).
The report by the House of Representatives Standing Committee on Economics, chaired by Kelly O’Dwyer MP, has delivered on key recommendations including the establishment of a national database for property purchases, an alert system with the Department of Immigration, capital gains benefits forfeited to Government for breaches along with increased and a beefed up Foreign Investment Review Board with a greater focus on audit and compliance.
REIA CEO Amanda Lynch said, “The Committee and Chair, Kelly O’Dwyer MP, are to be congratulated for listening to business and establishing workable solutions that will restore faith in the administration of foreign investment in Australian real estate.”
10 November 2014
Despite the continued media reports of a housing boom in Melbourne and Sydney, the latest housing finance figures released today by the Australian Bureau of Statistics (ABS) reflect moderating activity in the housing market.
The Real Estate Institute of Australia (REIA) says the figures for September 2014 show, in trend terms, that the number of owner-occupied finance commitments fell by 0.2 per cent. This is the fourth consecutive month of falls. If refinancing is excluded, in trend terms for September, the number of owner-occupied finance commitments fell by 0.4 per cent.
24 October 2014
After a week of tight competition in Auckland, the Australasian Auctioneering Champion has been declared for 2014.
The event, this year hosted by the Real Estate Institute of New Zealand, was a hotly contested fight reminiscent of the recent game of Ruby Union’s Bledisloe Cup. The three Australian contenders put up a tough fight but were nipped at the post by Andrew North from New Zealand, which enabled New Zealand to win their fourth consecutive championship.
The Real Estate Institute of Australia (REIA) President, Peter Bushby congratulated the winner, who also won the NZ Real Estate Auctioneer of the Year title in 2013.