REIA’s Pre Budget Submission to Government focuses on housing affordability and taxation as it relates to property.
The Submission notes that as Australia’s economy transitions from resource investment growth to other drivers of growth and economic activity, dwelling investment has been a significant contributor to Australia’s economic growth. 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.
“Whilst the building sector has been a strong contributor to economic growth, this has been at the cost of first home buyers with the number of first home buyer commitments as a percentage of total owner occupied housing finance commitments falling to 14.9 per cent in November and is the lowest since June 2004” said REIA President Mr Neville Sanders. Click HERE for full media release.
REIA WELCOMES DRAFT REPORT INTO REFORMING GST AND REDUCING INEFFICIENT TAXES
REIA News – June 2020
Real Estate Agents Identify Assistance Measures
April Housing Finance Respond to COVID Restrictions
REIA releases quarterly Real Estate Market Facts
REIA welcomes Federal Government Housing Stimulus package
HOUSING AFFORDABILITY IMPROVES MARGINALLY IN THE MARCH QUARTER
CAUTION FOR BUILDING STIMULUS PACKAGE