The Real Estate Institute of Australia elected Malcolm Gunning as its new president at Thursday's annual general meeting.

Gunning, who is from New South Wales, has more than 40 years' experience in all facets of real estate, including running an agency, property development, and property valuation. He is the most recent president of the Real Estate Institute of New South Wales.

Gunning's article, "Generation selfish cuts itself out of home ownership", which was published in The Real Estate Conversation in July, sparked a torrent of debate about housing affordability. 

Gunning argued that members of "generation selfish", who he said live mainly in Sydney, weren't prepared to forego "material possessions" such as wide-screen TVs and designer clothes, and were therefore cutting themselves out of home ownership. 

Gunning is the principal of Gunning Real Estate, a property agency with offices in Hurstville and Surry Hills. 

Gunning thanked outgoing president Neville Sanders (who is from Victoria), who served as president of the REIA for two years.

“Neville has provided excellent stewardship of the organisation since 2014 and during that time he has achieved much in ensuring that our members have a strong national voice,” said Gunning.

Gunning outlined what he intends to achieve in his new role.

“Next year will be an equally important one for the sector with the public debate on taxation of housing and affordability continuing," he said. 

"REIA will continue to be a strong advocate for the retention of negative gearing – its abolition is not the panacea for housing affordability that many seem to think it is. The debate on taxation must be broader, and include stamp duty, land tax, and value capture."

Gunning identified professional standards in the industry as a key area of focus.

“I am also resolved to ensure that professional standards are improved and consumers are protected when they make the biggest and often the most important purchase of their lifetime,” Gunning added.

See also:

Generation selfish cuts itself out of home ownership

Building industry faces crisis as foreign investors feel unwelcome

Real Estate Institutes support easing for foreign buyers