The Real Estate Institute of Australia (REIA) has provided five key recommendations to the Australian Government ahead of the October 6 Federal Budget.
At the forefront of REIA’s considerations are policies to aid first home buyers, thereby boosting the economy.
“Agents, renters, investors and those looking to enter the market for the first time are all facing difficulties,” REIA president, Adrian Kelly said.
“Our recommendations to Treasury target key areas for Government to generate economic activity that supports both agents and their clients, with a focus on market entry for first home buyers.
“Specifically, we seek expansion of the First Home Loan Deposit Scheme to include all first home buyers and an extension of the First Home Super Saver to allow access to pre-July 2017 voluntary contributions and earnings.
“There are proven international models for the use of retirement savings to purchase property from Canada, the Netherlands and New Zealand.”
“For home renovators we continue to support the HomeBuilder initiative by recommending a lowering of the program limits,” ” Mr Kelly continued.
“This will encourage increased uptake of the program across the board for all Australians.
“Lastly, for renters and property owners, for those working in the property sector and other industries that will take longer to recover, we support the extension of JobKeeper, JobSeeker and the rental support scheme, where needed.”
