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REIQ (Page 6)

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 →

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

Contributed By: REIQ on

The Real Estate Institute of Queensland (REIQ) is calling on property managers and property investors in Queensland to join its campaign to convince the State Government to reconsider proposed stage 2 rental law reforms. REIQ CEO Antonia Mercorella said the peak body was preparing its Submission to the Queensland Government’s Option Paper regarding stage two rental reforms, and would ensure the voices of property managers and property investors are represented and heard. “The REIQ is concerned with ongoing and consistent rental law reforms in Queensland which are progressively eroding property investor rights along with their confidence and interfering with contractual relations,” Ms Mercorella said. “IfRead More →

In: Accounting and Finance, General Interest, Real Estate, REIQ

Contributed By: REIQ on

The REIQ says last month’s pause in interest rate hikes has proven to be a short-lived relief for mortgage holders, as the RBA has today hiked the cash rate by 25 basis points to 3.85% – the highest level since April 2012. REIQ COO Dean Milton said the RBA’s decision to forge ahead with its aggressive tightening cycle would weigh heavily on homeowners and investors. “We have seen regulatory chaos from State and Federal Governments, and whiplashing back to another interest rate rise only adds to this pain,” Mr Milton said. “There’s barely been time for the market to absorb the lagged impact of theRead More →

In: Real Estate, REIQ, The Management Rights Market

Contributed By: REIQ on

The REIQ says the Albanese Government’s announcement that housing ministers will develop a plan to strengthen renters’ rights nation-wide later this year, is yet another swipe at property investor confidence in a State still reeling from relentless rental reforms. While the national renters’ rights plan announcement lacked detail, the REIQ is concerned that the Government has bowed down to pressure from the Greens and could signal yet another nail in the coffin for property investment in Queensland. REIQ CEO Antonia Mercorella said it was nonsensical to introduce nation-wide rental reforms on top of far-reaching, stage one rental reforms introduced in Queensland in October last year,Read More →

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

Contributed By: REIQ on

The Real Estate Institute of Queensland (REIQ) is calling out a questionable and concerning move by the State Government to treat rent control separately to stage two rental reforms, without the transparent legislative process that is reasonably expected. The Deputy Premier has stated that a reform to limit rent increases to once-yearly will apply from 1 July 2023 onwards – but the transition arrangements will mean that contractually agreed rent increases after this date will also no longer be valid. REIQ CEO Antonia Mercorella said it was absurd and questioned the legality of the retrospective nature of the new laws. “As a property investor, youRead More →

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

Contributed By: REIQ on

Obscenely tight rental conditions continue in Queensland according to the latest Residential Vacancy Rate Report released by the Real Estate Institute of Queensland (REIQ). The REIQ report covers more than a decade of quarterly vacancy rates for 50 local government areas (LGAs) and sub regions in Queensland, with the March 2023 quarter showing sustained historically tight rental conditions and mostly minor fluctuations from the previous quarter. Of the 50 regions, 11 remained at the same rate, 13 grew slightly tighter, while the majority of 26 relaxed slightly, indicating improved but still limited rental options. This saw the state-wide vacancy rate rise marginally from 0.8 perRead More →

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

Contributed By: REIQ on

The Real Estate Institute of Queensland (REIQ) is applauding the Mackay Regional Council for doubling the region’s concession on infrastructure charges for new social housing. The boost takes the discount from 50 per cent to 100 per cent, up to the existing cap of $500,000, in a bid to bring builders to the region to develop much-needed social housing. REIQ CEO Antonia Mercorella welcomed the incentive as an exemplary way Councils could help attract new private investment in the regions and boost targeted housing supply. “The REIQ commends Mackay Regional Council for making housing diversity a priority for the region,” Ms Mercorella said. “We welcomedRead More →

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

Contributed By: REIQ on

The Real Estate Institute of Queensland (REIQ) is calling on the Queensland Government to rescind foreign investor surcharges, in light of the state’s housing crisis. The REIQ has long-opposed both the seven per cent surcharge applied to stamp duty introduced in October 2016, and the additional two per cent surcharge applied to land tax introduced in 2019 on Queensland property held by foreign entities. REIQ CEO Antonia Mercorella explained that both additional taxes on foreign investors – who are already being taxed at a Federal level – act as a deterrent for capital to be deployed in Queensland. “When the Labor Government introduced additional surchargesRead More →

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