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.
First home buyers benefitting from stable market
REIA News – December 2017
Property prices fall across Australia: REIA
Housing loan affordability improves, first home buyers flood market
REIA News – November 2017
First Home Buyers Increasing Proportion of Housing Market
CPI Shows Renters Benefitting From Increased Housing Investment
REIA News – October 2017