Media Releases 2017

  • Date of Release

    Title

  • 19 June 2017

    Melbourne drives increases in national median house price: REIA

    The median house price across Australian capital cities has continued to increase with the weighted average median prices rising by 2.9 per cent for houses and 2.5 per cent for other dwellings, according to the latest research from the Real Estate Institute of Australia.

    REIA Real Estate Market Facts for the March quarter 2017 show the weighted average median price for houses for the eight capital cities increased
to $763,892.

    REIA President Malcolm Gunning said the median price was driven by increases in Melbourne and Sydney and, to a lesser extent, in Darwin.

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  • 09 June 2017

    Affordability increases, first home buyers out in the cold

    Housing affordability improved across all states and territories in the first quarter of 2017, however, the number of both first home buyers and loans decreased, according to the Real Estate Institute of Australia (REIA).

    The latest Adelaide Bank/REIA Housing Affordability Report found the proportion of median family income required to meet average loan repayments decreased by 1.3 percentage points to 30.4 per cent.

    REIA President Malcolm Gunning said first home buyers now make up 13.4 per cent of total owner occupied housing. This rate has been dropping steadily over the past 5 years yet seems to have stabilised over the past 18 months.

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  • 09 June 2017

    Regulators Impacting on Investor Housing Finance

    The latest housing finance figures released today by the Australian Bureau of Statistics (ABS) confirm the actions by the regulators and banks to dampen investor demand for property is working, according to the Real Estate Institute of Australia (REIA).

    “The value of investment housing commitments decreased by 1.0 per cent in April in trend terms. This is down 2.3 per cent from a year ago, in seasonally adjuster terms, and is well down from its 2015 peak,” Mr Malcolm Gunning, President of the REIA said.

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  • 05 June 2017

    Foreign resident capital gains withholding tax too low: REIA

    The threshold for foreign resident capital gains tax withholding has been reduced to an unnecessarily low level and agents and conveyancers will be subject to additional red tape and costs for no valid reason, according to the Real Estate Institute of Australia (REIA).

    The initiative outlined in the 2017 Budget sees the threshold for foreign resident capital gains tax withholding reduced to $750,000 from the current $2 million from 1 July 2017.

    REIA President Malcolm Gunning said in REIA’s view the proposed threshold of $750,000 is unjustifiable.

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  • 01 June 2017

    Fed Govt should rethink deductibility of investment outgoings, travel: REIA

    The Federal Government should reconsider changes announced in the 2017 Budget to allowable deductions for investment property related to depreciation and travel to inspect property, according to the Real Estate Institute of Australia (REIA).

    “Whilst REIA supports the curbing of abuse of deductions, these two initiatives are contrary to the principles of a good tax system and the ATO has existing means for addressing abuses and excesses,” REIA President Malcolm Gunning said.

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  • 15 May 2017

    Investor housing finance moderating

    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 decreased by 0.3 per cent in March 2017 in trend terms. This is down from its 2015 peak,” Malcolm Gunning, REIA President said.

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  • 09 May 2017

    REIA welcomes focus on affordable housing

    The 2017 Budget has recognised the need to address housing supply and affordability through a number of complementary measures, according to the Real Estate Institute of Australia (REIA).

    “The boost to infrastructure spending, measures to improve housing supply, the extension of small business concessions, and the retention of the current negative gearing as well as CGT arrangements for taxation of property investments will help ensure that the property sector remains an important contributor to economic growth,” REIA President Malcolm Gunning said.

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  • 12 April 2017

    Care needed with risky lending restrictions: REIA

    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.

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  • 10 April 2017

    ABS data highlights moderating investor housing finance

    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.

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  • 24 March 2017

    Real Estate Industry Recognises Profession’s Outstanding Performers

    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.

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