Here is a breakdown of the Real Estate Insitute of Australia's Pre-Budget Submission and responses as contained in the Budget statements:

That conveyance stamp duties be abolished and replaced by an efficient source of revenue for states and territories.

No – the budget did not include this proposal

That negative gearing be retained in its current form to encourage property investment.

Yes – in a win for the real estate sector

That capital gains tax on property investments is not increased.

Yes – in a win for the real estate sector

That the Government take a leadership role in introducing a uniformed approach to the provision of assistance to first home buyers for both new and established homes.

No – the budget did not address this issue

That the Government establish a scheme to encourage young Australians to have access to their superannuation for the purpose of raising a deposit for a first home.

No – the budget did not include this proposal

That the Government establish a mechanism to ensure the availability of reliable data on housing demand and supply to assist in formulating effective policies.

No – the budget did not include this proposal

The Government better utilize private investment to improve the supply of housing for social housing tenants transitioning to private rental.

No – the budget did not include this proposal

The Budget contains little in adverse spending cuts that have not been canvassed in the media in recent weeks. As anticipated, there were no major announcements impacting on the housing sector with the retention of negative gearing and the introduction of fees for foreign investments in residential real estate. A return to surplus is projected within this budget before 2018-19 although the Government has projected a significant reduction in the deficit by 2019. This significant reduction in the underlying cash balance without any significant expenditure cuts appears ambitious.