REIQ fights for stable housing sector ahead of election

12/04/2019

THE REIQ today launches a digital campaign to alert voters going to the polls on May 18 to the threat faced if Labor’s negative gearing reforms are introduced, especially at such a delicate time for our economy and housing sector.

REIQ CEO Antonia Mercorella said the campaign, called Stand For Stability, united all property sector stakeholders – renters, investors and property professionals – with the common goal of a stable property sector and a stable economy. 

“This campaign will educate voters about the true impact of Labor’s very damaging negative gearing reforms, an impact that will affect every member of the community through devaluing assets, rising rents and lost government revenue.

“Labor’s proposed changes to negative gearing will be disastrous, adding further pressure to our fragile housing market by pushing down house prices, devaluing people’s biggest asset – their home or their investment property – and pushing up rents,” Ms Mercorella said. 

“Our campaign is about helping voters make an informed choice on May 18 so that they understand exactly what’s at stake when they cast their vote,” Ms Mercorella said. “We are concerned many don’t understand some of the detail around negative gearing and how changes will affect them,” she said. 

“The Queensland Government has already announced a shortfall of $1.32 billion revenue in stamp duty due to falling house values and transaction volumes. Wholesale changes to negative gearing arrangements could not come at a worse time and will be simply devastating for Queensland.”

A new report from research business Propertyology supports forecasts that a technical economic recession is likely in the next 12 months. Additionally, research from SQM has revealed rents could rise as much as 22 per cent if the reforms are introduced. 

“The research is very clear, the economy is facing challenges and the threat to growth is real. Labor will worsen housing affordability for renters through these reforms. Further, if recent reports are accurate, it is clear their policies are based on misleading, inaccurate data.”

“Why would Labor add fuel to the fire with these massive changes to negative gearing structures and capital gains tax arrangements? It’s reckless,” Ms Mercorella said. 

The online campaign will include animated videos, social media tiles and long form articles published across REIQ’s communications and social media channels, with a call to action driving supporters to the page StandForStability.com.au

“Our campaign is designed to be highly shareable and will deliver the information that voters need when they make their decision on voting day,” Ms Mercorella said.  


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Media enquiries:
REIQ Media and Communications Manager
Felicity Moore
T: 0408 020 428 E: media@reiq.com.au