The Real Estate Institute of Western Australia has kicked off a campaign to engage with the WA community as proposed changes to negative gearing are debated. In the lead up to the Federal Election, REIWA is seeking the thoughts and opinions of West Australians who use property to help shape their lives a nd secure their future.
As part of the campaign, REIWA will share local research and survey results to ensure a balanced conversation on negative gearing. REIWA President Hayden Groves said that the current debate around negative gearing doesn’t focus on the role property plays in the lives of everyday West Australians.
“The proposed changes to limit negative gearing to newly built properties will not fully address the issue of housing affordability,” said Groves. “Housing affordability can only be solved with a combination of supply levers and planning and development policy reform.
“Rather than tinker with negative gearing, we’ll be promoting the need for broader tax reform where the system is simple, fair and efficient. Changing just one part of a very complex system can lead to inefficiencies and distortions.
“Over the coming weeks, we’ll be running a series of surveys with members of the WA public to find out what matters to them in regards to property ownership.”
In this rapidly rising local market, buying vacant land and building might be a smarter bet than buying an established home. Vacant residential land values across Perth increased about 34% last year, pushing the median lot price to $329,000. The old real estate saying of “land appreciates, houses depreciate” is … Read more
When the time comes to sell or lease your property, property owners often look to the internet to help shortlist agents that might meet their needs. Well established methods of choosing your agent such as re-employing an agent previously used, recommendations from friends and relatives or visiting Home Opens to … Read more