Media Releases 2017
Date of Release
12 April 2017
The Real Estate Institute of Australia has urged caution in the actions of regulators and banks to limit bank lending in an attempt to dampen investor demand for property in Sydney and Melbourne.
“Whilst warnings about interest-only loans and over committed borrowers might be justified in some circumstances it does not mean all interest only loan borrowers should be penalised and outlawed,” Real Estate Institute of Australia President Malcolm Gunning said.
10 April 2017
The latest housing finance figures released today by the Australian Bureau of Statistics (ABS) confirm that finance approvals for investor housing is moderating, according to the Real Estate Institute of Australia (REIA).
“The value of investment housing commitments increased by a modest 0.7 per cent in February in trend terms and decreased by 5.9 per cent in seasonally adjusted terms. This is down from its 2015 peak”, REIA President Malcolm Gunning said.
24 March 2017
The Real Estate Institute of Australia recognised the profession’s most outstanding performers at the 12th Annual REIA National Awards for Excellence last night at the Hyatt Hotel Canberra.
REIA President Malcolm Gunning said more than 250 real estate professionals came together to celebrate winners across sixteen categories.
“To be presented with an REIA National Award for Excellence is the highest honour in Australian real estate,” Mr Gunning said.
21 March 2017
Giving first homebuyers access to their own money in a superannuation fund should not be a controversial idea, according to the Real Estate Institute of Australia.
“One of the biggest hurdles young people have in buying their first home is saving enough money for a deposit and the transaction costs. With rising house prices, the dream of owning a home is becoming difficult to attain,” Malcolm Gunning, President of the Real Estate Institute of Australia said.
15 March 2017
The median house price across Australian capital cities has increased by 4.1 per cent for houses and 2.1 per cent for other dwellings, according to the latest research from the Real Estate Institute of Australia.
The REIA Real Estate Market Facts for the December quarter 2016 saw the weighted average median house price for the eight capital cities at $743,496.
REIA President Malcolm Gunning said over the year, the median house price increased in all capital cities except Perth and Darwin, reflecting the differing fortunes of state economies.
14 March 2017
The Real Estate Institute of Australia in partnership with the Institute of Public Accountants (IPA) has launched a new training course for real estate agents providing advice regarding property as an investment.
REIA President Malcolm Gunning said the RG146 Advice in Real Estate Course designed by IPA and provided through Mentor Education will allow property investment advisers, mortgage brokers, accountants, real estate agents and property developers to discuss the general drivers and considerations associated with a property investment decisions.
09 March 2017
The Real Estate Institute of Australia (REIA) congratulates all the state and territory finalists vying for national awards honour when the real estate profession’s night of nights comes to Canberra later this month.
“The REIA National Awards for Excellence 2017 will be held at the Hyatt Hotel Canberra on Thursday 23 March 2017 and will showcase Australia’s most outstanding performers in the real estate profession,” said REIA President Mr Malcolm Gunning.
08 March 2017
Housing affordability declined across all Australian states in the December quarter of 2016, with New South Wales remaining the least affordability state or territory for homebuyers, according to the Real Estate Institute of Australia.
The latest Adelaide Bank/REIA Housing Affordability Report saw the proportion of income required to meet loan repayments rise to 30.4 per cent, an increase of 0.9 percentage points over the quarter but a decrease of 1.9 percentage points compared to the corresponding quarter of 2015.
REIA President Malcolm Gunning said historically low interest rates and modestly rising incomes were unable to offset the increasing size of mortgages resulting in the rise in the proportion of the median family income required to meet average monthly loan repayments.
06 March 2017
Changes to negative gearing policy would drive up rents and affect the most vulnerable people in the community, according to the Real Estate Institute of Australia.
REIA President Malcolm Gunning said political gamesmanship has seen the plight of first homebuyers, low-income earners and other renters forgotten in the debate around reforms to negative gearing.
“One of the major beneficiaries of negative gearing are renters because it is proven to increase supply. Any changes that are made would have serious flow on effects,” Mr Gunning said.
01 February 2017
REIA’s Pre Budget Submission to Government focuses on taxation as it relates to property and the need for a holistic approach and housing affordability including the need to address the rapid decline in the number of first home buyers.
The Submission notes that dwelling investment supported by historically low interest rates has been a significant contributor to growth in the Australian economy since 2013/14. Australia’s property industry has been a main driver of economic growth and increased employment in the transition away from a decade-long reliance on mining. Providing a stimulus to economic activity outside the mining sector, including the housing and building sectors, was amongst the main reasons for the RBA to keep the official cash rate at record low levels since August 2013.