Australian Property News

REIV says new government must make housing more affordable

Posted on Friday, December 03 2010 at 12:13 PM

The Real Estate Institute of Victoria (REIV) has welcomed the Victorian Premier’s new cabinet announced yesterday, and says its biggest challenge is to make housing more affordable.

REIV’s chief executive officer Enzo Raimondo says the new Ministers have already shown a keen appreciation of the issues faced by the property market.

“We have already developed a relationship with them and we in particular look forward to the promised cuts to stamp duty for first homebuyers,” he says.

“There’s over-arching affordability issues in Victoria, and we look forward to the national licensing that will come into place in the term of this government.”

The Ministers sworn in yesterday include Treasurer Kim Wells, Consumer Affairs Minister Michael O’Brien, and Housing Minister Wendy Lovell. There’s also Minister for Planning Matthew Guy, Minister for Regional and Rural Development Peter Ryan, and Minister for Regional Cities and Major Projects Denis Napthine. Raimondo says it’s crucial that the Ted Baillieu Government implements what it promised before the election.

“We would like to see the coming year as the perfect opportunity to reach a new agreement on property taxation in Victoria. With the federal taxation discussion happening next year, Victoria is well placed to work cooperatively with the property professionals and industry to devise a taxation regime.”

Raizmondo says the REIV would like to see a new tax regime that better supports the state’s direction and encourages more growth in Victoria.