| Date of Release |
Title & Description |
File Name (Download) |
File Format & Size |
| 14 July 2008 |
Appointment of REIA CEO
REIA President Noel Dyett has announced the appointment of Mr Neil Fisher as the new CEO for the Real Estate Institute of Australia. Mr Fisher recently announced his resignation as the CEO of the Australian Plantation and Paper Industry Council (A3P) and is a former Board member and CEO of Plant Health Australia Limited and Executive Director of the Grains Council of Australia. Mr Fisher will take up his appointment as soon as his term with A3P is completed.
|
MR_2008_07_14 |
.doc 90 KB |
| 19 June 2008 |
RESIGNATION OF CEO REIA BRYAN STEVENS
Real Estate Institute of Australia CEO Bryan Stevens has resigned his position after almost seven years of service as CEO of Australia’s national association for the real estate profession. Mr Stevens will take up an appointment as CEO of the Pharmaceutical Society of Australia. An announcement will be made in the near future about the replacement for Mr Stevens.
|
MR_2008_06_19 |
.doc 92 KB |
| 17 June 2008 |
Supply constraints, stamp duty the major impediments to housing affordability
The Senate Committee on Housing Affordability has produced a well-argued report on many of the issues driving housing affordability problems in Australia, says REIA President Noel Dyett. Both demand and supply factors have driven the nation-wide deterioration in housing affordability, both for purchasers and renters. Many of the recommendations made by the Senate Committee are sensible proposals which should be considered in the development of a holistic response to the issue by all three levels of Government.
|
MR_2008_06_17 |
.doc 96 KB |
| 6 June 2008 |
Housing Hurting
The Australian weighted average median prices for houses and other dwellings have experienced their largest quarterly fall compared with previous quarters for the past five years, according to Mortgage Choice/REIA Real Estate Market Facts. The Australian weighted average median house price decreased by 2.7% to $458,488 in the March quarter 2008, while the price for other dwellings decreased by 2.7% to $355,297.
|
MR_2008_06_06 |
.doc 156 KB |
| 4 June 2008 |
Enough reports let´s have action on property spruikers
The release of the Green Paper on Financial Services and Credit Reform by the Government is welcome, but it’s now time for action on property spruikers. The result of this consultation process must not be yet another report to be filed away on dusty parliamentary library shelves. Consumers need action to be taken on the regulation of property spruikers.
|
MR_2008_06_04 |
.doc 92 KB |
| 3 June 2008 |
Relief as interest rates stay unchanged
Last week, the Deposit Power/REIA Housing Affordability Report published data showing that home loan affordability was at an all-time low with 38% of median weekly family income required to meet loan repayments on new home loans. It will be with much relief that new borrowers greet the news that official interest rates will remain unchanged for the moment.
|
MR_2008_06_03 |
.doc 92 KB |
| 28 May 2008 |
Interest Rate Increases Bite Hard
Renters and buyers are feeling the fallout from consecutive interest rate rises, says Noel Dyett, REIA President. The Deposit Power/REIA March quarter 2008 Housing Affordability Report shows a deterioration in both rental and home loan affordability across Australia.
|
MR_2008_05_28 |
.doc 278 KB |
| 23 May 2008 |
Housing Hurting in March Quarter
Following a year of strong price increases in 2007, the Australian housing market has softened considerably since the beginning of 2008, according to March quarter house price data released by the REIA. Prices for houses in Melbourne and Canberra, in particular, have fallen significantly in the first quarter 2008, while Sydney and Perth prices are also lower. Adelaide, Darwin and Hobart showed small increases in prices for houses.
|
MR_2008_05_23 |
.pdf 37 KB |
| 14 May 2008 |
Budget provides a platform for new vision BUT the devil is in the detail
Given the current uncertain international economic conditions, and domestic inflationary pressures sitting side by side with very favourable terms of trade, a strong Government response demonstrating fiscal restraint in this Budget was required, says REIA President Noel Dyett. This has been delivered through a pullback on public demand. Promised tax cuts have also been delivered. However they may contribute to inflationary pressures.
|
MR_2008_05_14 |
.pdf 55 KB |
| 6 May 2008 |
HOME BUYERS, HOUSING MARKET HURTING ENOUGH
The decision today to leave interest rates unchanged provides some relief to home buyers, struggling to cope with a blowing out of their mortgage repayments as a result of successive official interest rate rises, as well as the additional interest rate increases imposed by many lenders in recent months, says Noel Dyett, REIA President.
|
MR_2008_05_06 |
.doc 92 KB |
| 11 April 2008 |
National regulation needed for property investment spruikers
The REIA welcomes the Federal Government’s plans to consider federal regulation of property investment spruikers. A nationally-consistent regulatory environment is required to ensure that consumers across Australia are protected adequately.
|
MR_2008_04_11 |
.pdf 47 KB |
| 4 April 2008 |
REAL ESTATE LEADERS HONOURED AT REIA'S THIRD NATIONAL AWARDS FOR EXCELLENCE
Outstanding customer service, contributions to the real estate profession, innovation and community service were amongst the criteria for success in the Real Estate Institute of Australia's third National Awards for Excellence, announced in Melbourne on Thursday 3 April.
Nominees for the Awards came from across Australia, and all had previously been selected as State or Territory Award winners. "Entries in the 2008 Awards were of the highest standard," says Noel Dyett, REIA President. "The commitment to best practice and industry leadership by all the award nominees is impressive."
|
MR_2008_04_04 |
.doc 59 KB |
| 1 April 2008 |
NO CHANGE A RELIEF FOR HOMEBUYERS
"The Reserve Bank's decision to hold interest rates steady this month is good news for homebuyers, many of whom are still reeling from increases in February and March, as well as the additional increases imposed by some lenders," says Noel Dyett, REIA President.
|
MR_2008_04_01 |
.doc 59 KB |
| 11 March 2008 |
INCENTIVES FOR INVESTORS TO RETURN TO PROPERTY MARKET DESPITE INTEREST RATE RISES
The Mortgage Choice/REIA Real Estate Market Facts released today has reported that the Australian weighted average median house price moved beyond $450,000 in the December quarter 2007 to reach $471,300, an increase of 6.4% over the quarter and 11.8% over the year. Four capital cities now have a median house price above $450,000: Sydney, Melbourne, Perth and Canberra. Perth house prices have flattened, moving the Perth median back to third place behind Sydney and Melbourne. Hobart remains the cheapest capital city in which to buy property.
|
MR_2008_03_11 |
.doc 66 KB |
| 7 March 2008 |
RENTERS CANNOT AFFORD ANY MOVES TO PUSH INVESTORS OUT OF MARKET
"Media commentary in recent weeks suggesting that home loan affordability would be improved by removing or restructuring negative gearing provisions for property investors is seriously misguided," says REIA President, Noel Dyett.
|
MR_2008_03_07 |
.doc 66 KB |
| 4 March 2008 |
BLUNT TOOLS CAN AFFECT MORE THAN THE TARGET
"While the REIA recognises that caution is required to manage the economy in the current circumstances, today’s decision to raise interest rates will hurt many. The Australian housing market is not a ‘one size fits all’ model." says Noel Dyett, REIA President. "Likewise, there are two economies in operation, with the commodities-rich States faring much better than other States. The REIA urges the Reserve Bank to be prudent and take into consideration the complexity of the Australian housing market and forthcoming price data reflecting the impact of interest rate rises, as it makes its decision about interest rates in coming months."
|
MR_2008_03_04 |
.doc 62 KB |
| 3 March 2008 |
HOUSING AFFORDABILITY FOCUS APPLAUDED, BUT IMMEDIATE ACTION NEEDED
"The Government's announcements today, enhancing their housing affordability policy, are applauded. Initiatives such as the National Rental Affordability Scheme, First Home Saver Accounts and the National Housing Affordability Fund will assist in increasing supply, reducing development costs, and providing support to both renters and first home buyers over the medium and long term. Supply is a major problem, but this will take time to fix. Immediate action is needed to help those already in difficulty" says Noel Dyett, REIA President.
|
MR_2008_03_03 |
.doc 54 KB |
| 28 February 2008 |
RENTERS AS WELL AS BUYERS FEEL THE STRESS
"Another severe blow was dealt to home buyers in the December quarter 2007, with interest rate rises biting hard and home loan affordability deteriorating across Australia, except in Western Australia", says Noel Dyett, REIA President. The proportion of family income required to meet average home loan repayments rose to 37.4% in the December quarter 2007, the highest level reached during the 22 years that REIA has recorded home loan affordability data. REIA data relates to all new home loans in a quarter, and excludes refinancing.
|
MR_2008_02_28 |
.doc 224 KB |
| 27 February 2008 |
BUMPER QUARTER FOR HOUSING PRICES: FEAST OR FAMINE
The December quarter 2007 was a bumper quarter for house prices across the country, with a house median above $450,000 for four out of the eight capital cities (Sydney, Melbourne, Perth and Canberra), and price growth in all cities except Perth where the median house price was unchanged from the September quarter. "This is, of course, welcome news for home owners; however, it is making it increasingly difficult for potential owners to enter into the market," says REIA President, Noel Dyett.
|
MR_2008_02_27 |
.doc 70 KB |
| 5 February 2008 |
INFLATION PRESSURES AND PAIN FOR HOME BUYERS
"The decision by the Reserve Bank (RBA) to raise interest rates is no surprise. Nor is the increased pain for home buyers," says Noel Dyett, REIA President. ‘Inflation is one threat, particularly in an international environment where the United States looks set to experience an economic downturn which will undoubtedly affect the Australian economy. The end result of today’s decision, however, is an increased burden for those already in debt and pain for would-be buyers, many of whom are already struggling.
|
MR_2008_02_05 |
.doc 53 KB |
