Neville Sanders is President of the Real Estate Institute of Australia.
The September 2016 quarter CPI is good news for home buyers and renters, according to the Real Estate Institute of Australia.
The Real Estate Institute of Australia says property prices increased 2.1% for houses and 0.4% for other dwellings in the June quarter.
The Real Estate Institute of Australia (REIA) says housing affordability in the June quarter 2016 improved to levels last seen seven years ago.
The Real Estate Institute of Australia says the June 2016 quarter CPI figure is good news for home buyers and renters.
A change in negative gearing arrangements will put that at risk economic growth and cut the asset base of Australian households at a time when we need to facilitate further sustained growth in the housing sector.
With negative gearing only available for investment in newly-built residential property existing investors will find it more difficult to sell their properties as other investors will show little interest in existing property with inevitable falls in value to follow.
The lending figures show that the macro prudential measures introduced are working and that owner occupiers are the dominant force in the stabilising market.
There is no doubt that the taxation of housing will continue to be a top issue for debate as we head into an election this year.
The proportion of first home buyers, as part of the total owner-occupied housing finance commitments, increased marginally to 15.1 per cent compared to 14.9 per cent in November.
The impact of the past increased investor activity in the housing sector is flowing through to the lowest increases in rents in over two decades.