Hayden is Deputy President of the Real Estate Institute of Australia and President of the Real Estate Institute of Western Australia. He is also the director of dethridgeGROVES Real Estate in Fremantle.
REIWA’s policy position is to retain negative gearing provisions in its current form, as well as promote the need for broader tax reform, nationally and locally. Changing one part of the tax system without considering it as a whole will only lead to inefficiencies, administrative burden and distortions.
Pleasingly, since the Christmas and New Year period there has been more balance and stability in the market with the median house price evening out and sales activity increasing 15 per cent on the December 2015 quarter.
As sales volumes continue to trend downwards, governments can no longer afford to rely so heavily on duties as such a significant source of revenue nor can they chase up the market with higher and higher first home buyer concessions.