In a significant win for Malcolm Turnbull, the senate has passed legislation that will re-establish the Australian Building and Construction Commission.
The reinstated Turnbull government should appoint a federal Minister for Housing to oversee housing affordability, supply and demand, foreign investment and property taxes, says LJ Hooker CEO, Grant Harrod.
The current WA real estate market is behaving quite differently to markets on the East Coast, so for us it was critical to look at the impact tinkering with negative gearing would have locally.
Investors as well as property owners can now breathe a big sigh of relief knowing that there will now be no changes to negative gearing as a result of the election of the Coalition Government.
The need to re-establish the Australian Building and Construction Commission is very real and we urge the government to find a legislative pathway to deliver this important reform.
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.
