The Real Estate Institute of Western Australia is campaigning to put property issues in the foreground at the upcoming 11 March state election.
The REIWA will put forward four policy reforms over the next three weeks, with the aim of putting property front and centre in the lead up to the election.
The policies are aimed at stimulating growth in the beleaguered West Australian real estate market.
REIWA President Hayden Groves said the institute has identified four top-priority reforms, and is seeking a commitment from all political parties on them before the election.
"The issues of affordable housing, appropriate housing, and accessible housing affect everyday West Australians and should be a priority for whoever forms government,” Groves said, saying it was disappointing the issues were not attracting more attention.
"Currently property issues are not on the agenda for any political party," he said.
The REIWA has released details of the first two policies:
1. to ensure there are no increases to state property taxes as a means to address revenue shortfalls in Western Australia, and
2. land tax aggregation rules are abolished because they penalise investors from holding multiple properties.
"By removing aggregation rules, there is the opportunity to stimulate activity in residential and commercial markets which would generate new transfer duty and land tax revenue for the state,” said Groves.
Groves said REIWA analysis shows a modest increase in market activity over three years could generate almost $80 million in net revenue for the state government.
The REIWA will be launching a public survey this Thursday 9 February on reiwa.com to allow the WA community to have their say on the first two policy issues. Click here to view and complete the survey.
To access the REIWA’s policy fact sheets click here.
Mixed results across regional WA in the September quarter
First home buyers active in Perth during September quarter, REIWA
Home ownership dreams still alive on the west coast