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Author: Real Estate Institute of Australia
Real Estate Institute of Australia (REIA) has welcomed the House of
Representatives Standing Committee on Tax and Revenue inquiry into housing
affordability and supply in Australia.
REIA President Adrian Kelly said the inquiry will address
property taxation in the form of stamp or transfer duties and land tax which
are among the largest barriers to housing affordability and consistently
“Families across all the states and territories, except the
ACT, are paying more stamp duty today than 20 years ago and that is time to get
serious about stamp duty reform.
has had the fourth-fastest house price growth out of the world’s advanced
economies over the past 20 years.
“Politicians cannot on one hand gripe about housing
affordability; and then on the other say we need this income from home buyers
and owners to fund public sector operations,” Mr Kelly said.
REIA is calling on the Council of
Federal Financial Relations to take this issue seriously at a national
level, rather than shifting responsibility to the states and territories.
Kelly said the massive market entry from first home buyers in both 2009 and
2020 show the power of waiving taxes and stimulus programs in boosting house
lack of national coordination has led to limited supply of both new and
existing listings across the board. Now more than ever we need fact-based and
bi-partisan support on policy issues for home buyers and home owners,” Mr Kelly
For more information about the issues important to the WA
real estate industry, visit our advocacy page.
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