Malcolm is the president of the Real Estate Institute of Australia, as well as the principal of Gunning Commercial, which has offices in Hurstville and Surry Hills in Sydney. He was previously president of the Real Estate Institute of NSW
Rents increased by just 0.3 per cent in the December quarter, and 0.7 per cent for the year, according to the latest data from the ABS.
'Mum and dad' investors are being encouraged by financial planners and lenders to consider commercial, industrial and retail properties, says Malcolm Gunning, president of the REIA and principal of Gunning Real Estate.
The latest data from the ABS shows that the housing market is moderating.
Changes to foreign investment regulations and taxes are contributing to apartment projects being mothballed or not commenced at all.
“There are lots of young people who are complaining that it is too hard to buy in Sydney, however they won’t forgo their material possessions,” says Gunning Real Estate Principal Malcolm Gunning.
The government has found a scapegoat in foreign investors and is playing on xenophobia.
The feasibility of syndicate investment is being realised due to the trend of bank’s loosening lending requirements on retail, industrial and commercial property.
There is currently exceptional value for business property which is drawing interest away from residential investors and into the commercial and industrial real estate market.
The decision made by the Valuer General to step in and respond to a change of market conditions was the right move.