Real Estate Institute of Australia - Media Releases

All media releases with permission from www.reia.com.au

Home buyers breathe easy

Today's decision by the Reserve Bank of Australia to leave interest rates on hold is welcome news for home buyers, says REIA President Graham Joyce. Low affordability is a serious challenge for Gen X and Y, the Rent Generation. Those seeking to get into the home buyer market will be relieved that interest rates continue to be stable, although they should budget for possible future increases when considering taking out a home loan.

Best of the best: Australia’s top real estate agents honoured

Australia's top real estate professionals have been honoured with the Real Estate Institute of Australia's 2007 National Awards for Excellence, presented in Sydney on Thursday 22 March 2007

State Treasurers Stop the stamp duty rort

The REIA agrees with the Commonwealth Treasurer s call for State Governments to reduce or abolish state property taxes, in order to improve housing affordability. The State Treasurers have an opportunity to commit to making a real difference to housing affordability at their meeting on Friday 30 March. There are a number of reasons why housing affordability is at its lowest point in 25 years apart from a one year period between June 1989 and June 1990. A major reason is stamp duty. The stamp duty rort must be stopped now.

2007 REAL ESTATE MARKET OUTLOOK

The 2007 real estate market outlook, including economic review, insight into residential property prices, real estate sales activity, rental markets, home loan affordability, commercial property and property investment.

REIA announces finalists in 2007 National Awards for Excellence

Australia's leading real estate professionals will vie for the Real Estate Institute of Australia's National Awards for Excellence, to be presented in Sydney on Thursday 22 March 2007.

AUSTRALIA-WIDE: IT’S A FULL HOUSE

Those scouring rental advertisements for somewhere to live are telling one story across Australia: it’s a full house. Vacancy rates range from as low as 1.1% in Canberra to a not much better 2.1% in Perth, according to Mortgage Choice/REIA Real Estate Market Facts, released today.

MORE THAN A THIRD OF FAMILY INCOME NEEDED TO PAY HOME LOANS

In the worst result for 25 years, aside from an 18 month period from March 1989 to September 1990, the Deposit Power/REIA Home Loan Affordability Report for the September quarter 2006 shows that Australian families now need more than a third of family income (33.8%) to pay an average home loan, with families in New South Wales, Queensland and Tasmania the hardest hit.

Graham Joyce elected President of Real Estate Institute of Australia
23 November 2006

Western Australian real estate agent Graham Joyce has been elected 2007 President of the Real Estate Institute of Australia (REIA).

THREE TIMES UNLUCKY:
HOMEBUYERS PAY THE PRICE FOR AN ECONOMY HEADING TOWARDS OVERDRIVE
8 November 2006

There’s no doubt the decision by the Reserve Bank of Australia to raise interest rates for the third time this year was not taken lightly, but with inflation increasing, and Australian businesses and consumers still showing a healthy appetite for borrowing, the RBA probably thought there was little choice. However, the reality is: homebuyers, particularly first homebuyers, will be paying a tough price in the months ahead.

NEGATIVE GEARING ESSENTIAL FOR THE RENTAL MARKET
23 October 2006

The Tax Commissioner's recent warning in the Sydney Morning Herald (21/10/06) that there will be a crack down on landlords claiming rental property losses should be ringing alarm bells, not just for the minority of taxpayers who do not correctly report their income and losses, but also for those seeking to rent property who will likely have even more difficulty finding an affordable (or indeed any) place to rent, if investors left the property market due to any change in negative gearing.

NSW auctioneer wins 2006 Australasian Real Estate Institutes Auctioneering Championship
20 September 2006

NSW auctioneer, Scott Kennedy-Green, has won the 2006 Australasian Real Estate Institutes Auctioneering Championship, held in Auckland, New Zealand from 17 to 19 September. Fifteen of the leading auctioneers in Australia and New Zealand participated in the championship, which is held annually.

ONE COUNTRY - BUT THREE DISTINCT HOUSING MARKETS
6 September 2006

Median prices for established housing are patchy across Australia, according to Mortgage Choice/REIA Real Estate Market Facts. June quarter 2006 figures compared with the previous year indicate a booming market in Western Australia with prices up 33.9% and in the Northern Territory where prices are up 25.1%. Perth now has the second most expensive house price in Australia.

INTEREST RATES, CPI INCREASES MAKE HOME LOAN AFFORDABILITY TOUGHER
31 August 2006

Home loan affordability worsened in every State and Territory in the June quarter 2006, with the exception of Tasmania where it was unchanged, according to the Deposit Power / Real Estate Institute of Australia Home Loan Affordability Report released today. Deposit Power has joined with REIA to co-publish the Home Loan Affordability Report, a comprehensive and accurate assessment of the ability of Australians to meet the cost of home purchase.

$11,000 MORE NEEDED TO PAY A HOME LOAN
2 August 2006

Today's decision by the Reserve Bank of Australia to raise interest rates will add $11,000 in interest payments to the average home loan taken out over 25 years, according to Real Estate Institute of Australia President Tony Brasier. Homebuyers should always factor into their budgets the possibility of interest rate rises, but today's announcement comes at a bad time for Australian families, who are already feeling the pinch at the petrol bowser.

STRONG DEMAND FOR RENTAL PROPERTIES: GOOD NEWS FOR INVESTORS
18 June 2006

Vacancy rates across Australia are at all-time lows, according to the REIA/Mortgage Choice Real Estate Market Facts March quarter 2006 edition. With rents going up in response to strong demand for rental properties, the opportunities for improved residential property investment yields should catch the attention of property investors across the country.

 

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