BUDGET RECOGNISES HOUSING CONTINUES TO PLAY ROLE IN TRANSITIONAL ECONOMY

May 4th,2016

Real Estate Institute of Australia (REIA) President, Neville Sanders says the 2016 Budget has recognised that the housing and construction sector have a role to play as the Australian economy transitions away from a decade long reliance on mining for growth.

“Investment in dwellings is forecast to grow at 8% in 2016-17 and peak in 2017-18 with a record number of completions”, said REIA President Mr Neville Sanders.

“The boost to infrastructure spending, the extension of small business concessions, modest tax cuts and the retention of the current arrangements for taxation of property investments will help ensure that the property sector remains an important driver of economic growth.”

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