The Real Estate Institute of Queensland (REIQ) have come out with a campaign against the Labor party’s proposed changes to negative gearing. Called ‘Stand for Stability‘, the campaign is aiming to bring all property sector stakeholders, from renters to investors and professionals (real estate agents), in order to educate the public about the proposed changes and their impact on the country’s ability to create a stable economy and property sector.
REIQ CEO Antonia Mercorella said that “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.
This is aligned with the Real Estate Institute of Australia (REIA) statement, which you can see below: