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REIQ (Page 6)

In: Real Estate, REIQ, The Management Rights Market

Contributed By: REIQ on

The Real Estate Institute of Queensland (REIQ) has long-advocated for all levels of government to work together to do their part to end the housing crisis, and welcomed the renewed and incentivised housing targets set at National Cabinet yesterday. REIQ CEO Antonia Mercorella said it was particularly pleasing to see commitments from the Commonwealth to provide $3 billion in performance-based funding to states and territories that meet their housing targets. “The REIQ welcomes the additional incentive-based payments for states to deliver houses above the previous targets,” Ms Mercorella said. “Whilst the funding is welcome for the additional 200,000 homes above the previous target over theRead More →

In: General Interest, Landlords, Tenants, Renting and Management, Real Estate, REIQ, The Management Rights Market

Contributed By: REIQ on

The Federal Government’s latest thought bubble to propose national caps on rent increases to once every two years is economic lunacy, according to the Real Estate Institute of Queensland (REIQ). REIQ CEO Antonia Mercorella said it was imperative that state and territory governments weighed up the strain on both sides of the rental ledger and considered the broader economic context at the National Cabinet meeting in Brisbane next week. “We understand the community concern about rents rising at a much faster pace than we have historically experienced,” Ms Mercorella said. “In the decade prior to the pandemic, when we had healthier levels of supply, weRead More →

In: Landlords, Tenants, Renting and Management, Real Estate, REIQ

Contributed By: REIQ on

Almost a year after the State Government commissioned a review into the impacts of short-term rentals, the report summary has been released and is ‘entirely unsurprising’ according to the Real Estate Institute of Queensland (REIQ). The report concluded that short-term rentals were most prevalent in high-tourism coastal areas, and that short-term rentals have a limited impact on rental affordability. Importantly, the REIQ notes that Deputy Premier Steven Miles confirmed “The review found no clear alignment between the suburbs with the highest rent increases and the percentage of dwellings devoted to short-term rental. Instead, dwelling stocks emerged as the significant contributor to explaining rental prices.” REIQRead More →

In: Events, General Interest, Real Estate, REIQ

Contributed By: REIQ on

The REIQ Sales Conference equips agents with everything they need to succeed! Our expert speakers and panellists will help you take your career and business to the next level with insights into securing more listings and increasing sales in a challenging market. Our superstar keynote speaker Lauren Clemett has helped launch hundreds of global brands and will give you valuable advice on how to cut through the noise of an overcrowded market, get noticed and generate more leads. A standout line-up of presenters will give you practical information on everything from changing market conditions and digital marketing to technology and performance management plus more –Read More →

In: Landlords, Tenants, Renting and Management, Real Estate, REIQ, The Management Rights Market

Contributed By: REIQ on

The Real Estate Institute of Queensland (REIQ) says consecutive lifts in the state’s quarterly residential vacancy rate is a promising sign that rental conditions are improving. The REIQ Residential Vacancy Rate Report for the June 2023 Quarter, released today, covers 50 local government areas (LGAs) and sub regions in Queensland, and comes as the state-wide vacancy rate rose to 1.0% for the first time since December 2021. While the vacancy rate remains ‘tight’ (0 – 2.5%) across the vast majority of Queensland, over the June quarter it relaxed in 38 regions, held steady in three, and tightened in nine. REIQ CEO Antonia Mercorella said theRead More →

In: Real Estate, REIQ

Contributed By: REIQ on

With inflation moderating, productivity levels falling, job vacancies declining, household savings eroding, and business insolvencies increasing, the REIQ says today’s pause on the cash rate was a sensible decision given mixed economic signals. Real Estate Institute of Queensland (REIQ) Chief Operating Officer Dean Milton said business owners, mortgage holders, aspiring home owners, and renters who hoped the new financial year would bring interest rate reprieve would be nicely surprised. “In our view, there were enough economic factors at play to warrant a stop or at least a pause to the steep tightening cycle, so this comes as welcome news,” Mr Milton said. “With 12 risesRead More →

In: Real Estate, REIQ

Contributed By: REIQ on

The Real Estate Institute of Queensland (REIQ) says extraordinary data released by PEXA showing one in four property sales in the eastern states last year were mortgage free, indicates interest rate rises are impacting younger Australians the most. REIQ CEO Antonia Mercorella said the data revealed that during 2021 and 2022 more than $240bn in property sales across the east coast were purchased on a cash basis. “With about a quarter of residential sales in eastern Australia being cash sales, we’re heading towards similar numbers to the U.S. where one in three mortgages are settled with cash,” Ms Mercorella said. “These cash property sales wereRead More →

In: Real Estate, REIQ, The Management Rights Market

Contributed By: REIQ on

The RBA has today taken another swipe at inflation, hiking interest rates by 25 basis points to 4.10 per cent, further denting investor confidence and dashing home ownership dreams according to the REIQ. Real Estate Institute of Queensland (REIQ) COO Dean Milton said regulatory and tax uncertainty was having a detrimental impact on investor activity. “Building approvals in Queensland for the year-to-date in April were 2,607 below last year, showing the damaging impact interest rate rises are having on confidence,” he said. “Further, lending indicators show a 23 per cent decline in loans to owner occupiers this financial year, and a decline of 27 perRead More →

In: Landlords, Tenants, Renting and Management, Real Estate, REIQ

Contributed By: REIQ on

Rental providers are passionately opposed to several changes being proposed as part of the State Government’s stage two rental law reforms Options Paper, according to a survey of more than 3,300 Queensland property investors. The survey, conducted by the Real Estate Institute of Queensland (REIQ), sought property investor sentiment towards some of the ‘hot button’ changes proposed in the paper. One of the most foreboding findings from the survey, was that 81.4 per cent of rental providers said recent and future proposed tenancy law changes have influenced the likelihood that they will sell up (refer to Q14 graph). While 62 per cent of respondents saidRead More →

In: General Interest, Real Estate, REIQ, The Management Rights Market

Contributed By: REIQ on

As the state peak body for real estate professionals, the Real Estate Institute of Queensland (REIQ) has today welcomed reassigned Ministers to the Palaszczuk Government Cabinet. REIQ CEO Antonia Mercorella congratulated Meaghan Scanlon on her appointment as the Minister for Housing and Yvette D’ath on her appointment as the Attorney-General and Minister for Justice and Minister for the Prevention of Domestic and Family Violence. “We welcome these appointments and renewed focus, and look forward to continuing to work in an effective and constructive fashion with both Ministers as Queensland faces significant challenges ahead,” Ms Mercorella said. “In particular, housing accessibility and affordability are complex and criticalRead More →

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