real news The official newsletter for the real estate profession - Issue103 REIA What are REIA Pre-Budget calling for in the Submission submission? REIA’s submission calls on the Government to: The Real Estate Institute of Australia has put forward a • Retain current Pre-Budget Submission to the arrangements for Commonwealth Government negative gearing of Landlord insurance highlighting a range of issues property investments; affecting the property market that protects your pocket • Ensure that the family that need to be addressed in the home will not be Terri Scheer is Australia’s leading landlord insurance 2011/12 Budget. subjected to Capital specialist. REIA President, Mr David Gains Tax (CGT); Our policies can protect you and your clients from Airey said, “Our focus in this • Commit to no increase risks caused by tenants that standard building, year’s submission is housing in Capital Gains Tax on home and contents insurance may not cover. affordability and inefficient property investment; Best of all, Terri Scheer ensures that you and your property taxes.” • Remove stamp duty on clients are not out of pocket if tenants default or Of particular concern is the cause damage. property transactions; issue of stamp duty on property Contact Terri Scheer today on 1800 804 016 or on transactions. As it was reported in • Review the First Home the Australian Financial Review email@example.com. Owners Grant (FHOG); earlier this week, state property Benefits for Landlords taxes will bring in almost $20 • Allow first home Protects against malicious tenant loss or damage billion for the states this year. buyers access to their superannuation for the Protects against accidental tenant loss or damage In addition to stamp duty, REIA purchase of a home, and; Protects against loss of rent has called for the retention of • Monitor Housing Benefits for Property Managers negative gearing of property investments and for an increase Affordability Fund (HAF) Protects management fees of the FHOG to improve and National Rental Protects client relationships affordability in the housing Affordability Scheme Managing property is easier market and encourage the (NRAS) to observe return of first home buyers in the their effects on housing To find out more go to terrischeer.com.au market. supply and conduct a review which considers To view the REIA’s media additional measures to release, click here. To bridge the demand - Australia’s Leading Landlord Insurance Specialists download a copy of the supply imbalance. submission, click here. Landlord Insurance provided by Terri Scheer Insurance Pty Ltd ABN 76 070 874 798 AFSL 218585 (distributor) and Vero Insurance Ltd ABN 48 005 297 807 AFSL 230859 (issuer). Please consider the Product Disclosure Statement before making any decision regarding this product. Contact us on 1800 804 016 for a copy. Real Estate Institute of Australia I 16 Thesiger Court Deakin ACT 2600 I 02 6282 4277 I firstname.lastname@example.org I www.reia.com.au Longer-term goals of NRAS overlooked President of the Real Estate Institute of Australia (REIA), Mr David Airey this real news week responded to the Government’s announcement that the National Rental Affordability Scheme (NRAS) will be wound-back to provide funds to the re-building effort of flood-affected regions of Australia. The official newsletter for the real estate profession - Issue103 According to the Government, “Preliminary estimates, following Rates remain on hold consultation with the Queensland Government, indicate that the Government will need to invest $5.6 At its meeting this week, the Board of the Reserve Bank of Australia billion in rebuilding flood-affected decided to leave the cash rate unchanged at 4.75 per cent. The Board regions, with the vast majority going on judged that the current stance of monetary policy remained appropriate rebuilding essential infrastructure. Two- in view of the general macroeconomic outlook. thirds of that funding will be delivered through spending cuts.” For further information on this decision, click here. To read the REIA’s media release on this issue, click here. The NRAS will be one area where ________________________________________________________ cuts will apply with the winding back of the scheme from a proposed 100,000 ABS House Price Index homes to 35,000. In its media release the REIA questioned The Australian Bureau of Statistics this week released House Price whether the appropriate programs had Indexes: Eight Capital Cities for the December 2010 quarter. been targeted to fund the re-building efforts after the floods. Preliminary estimates show the price index for established houses for the weighted average of the eight capital cities increased 0.7% in the The REIA proposed that the longer- December quarter 2010. The capital city indexes increased in Sydney term goals of the NRAS have been (+1.6%), Melbourne (+1.3%), Brisbane (+0.7%), Adelaide (+1.1%), overlooked which will be detrimental Canberra (+1.9%) and Hobart (+1.1%), and decreased in Perth to improving affordability in Australia – (-3.2%). There was no change in the index for Darwin. such a crucial issue at present”, For further information, click here. To read REIA’s media release, click here. ________________________________________________________ REIA 2011Awards for Tickets for the 2011 REIA National Awards for Excellence National are NOW ON SALE. EXCELLENCE Click here to find out more. Find your REI REIA has seven members, these members are the state and territory Real Estate Institutes. Your state or territory body can assist real news you with information which is relevant to being an agent in your state or territory. For contact details, see below: REIACT 16 Thesiger Court Deakin ACT 2600 The official newsletter for the real estate profession - Issue103 Tel: 02 6282 4544 www.reiact.com.au Australians to delay home purchase REIQ A poll released today by mortgage provider Homeloans Ltd shows 21 Turbo Drive Coorparoo QLD 4151 that almost half (45 per cent) of Australian home buyers will delay Tel: 07 3249 7347 purchasing a property in 2011 due to rising interest rates and the www.reiq.com.au cost of living. And one in three of those will put all major household REINT spending - such as a new car, holiday or consumer goods - on hold Unit 3/6 Lindsay Street Darwin NT 0801 for 2011. Tel: 08 8981 8905 According to the Homeloans Home Buyer Barometer Q1 2011, www.reint.com.au which surveyed 2000 Australian first home buyers, homeowners and REIWA investors, of those who will delay buying a property, only six per cent 215 Hay Street Subiaco WA 6008 are planning to do so within the next six months and 74 per cent have Tel: 08 9380 8222 reconsidered how much they are able to spend. www.reiwa.com.au For further information, click here. REISA ________________________________________________________ 249 Greenhill Road Dulwich SA 5065 Tel: 08 8366 4300 APRA monthly banking statistics www.reisa.com.au The Australian Prudential Regulation Authority released the statistics REIV publication, Monthly Banking Statistics for December 2010. 335 Camberwell Road Camberwell VIC 3124 The Monthly Banking Statistics publication provides selected Tel: 03 9205 6666 information on the banking business of individual banks within the www.reiv.com.au domestic market. REIT It contains high-level breakdowns of the domestic assets and 33 Melville Street Hobart TAS 7000 liabilities of each bank as well as more detail on loans & advances Tel: 03 6223 4769 to and deposits by different sectors of the economy. Information www.reit.com.au on securitisation activity is also included. Both Australian-dollar denominated transactions and the Australian-dollar equivalent of REIA CONTACT DETAILS: foreign-currency denominated transactions are included. 16 Thesiger Court Deakin ACT 2600 For further information, click here. Tel: 02 6282 4277 ________________________________________________________ www.reia.com.au Next week... • REIQ Awards for Excellence The authorised editor of this document is Ms Rhiannon McClelland, REIA Manager Communications. If you have any concerns regarding the content of this publication, please contact the editor on 02 6282 4277 or at email@example.com. Please feel free to forward this newsletter to interested colleagues and friends. 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