Top 5: Finance & property quotes week commencing September 22

By the resi financial blog team, 29 September 2014

Top 5: Finance & property quotes week commencing September 22

Spurred on by great financial conditions, more people are beginning to consider building or buying their own piece of Australian property across the nation. Here are some of the top comments from the sector over the last week: 

#1. Housing Industry Association Managing Director Shane Goodwin commenting on the benefits of negative gearing for the future development of the nation's market in a September 22 statement: "New housing is one of the most highly taxed sectors in the economy, and the removal of negative gearing would only make that situation worse and discourage investment. This would in turn reduce housing supply and increase the cost of renting.

"Negative gearing promotes private investment in the rental market, thus stimulating economic activity and taking the pressure off social housing and the public purse. With an ageing workforce and future pressure on services, policy settings such as negative gearing that promote wealth creation and self-sufficiency in retirement should be promoted." 

#2. Victoria Treasurer Michael O'Brien commenting on the strengthening state population in a September 25 statement: "Victoria has recorded its highest net interstate migration on record. Every state and territory around the country sent more people to live in Victoria than left our state.

"New South Wales was our biggest source of interstate migration, followed by South Australia, Queensland, Tasmania, WA and the territories. Victoria's population increased to 5.8 million people, which is why the Coalition Government is investing in major infrastructure projects such as the East West Link and the Airport Rail Link to keep Victoria moving." 

#3. Property Council New South Wales Executive Director Glenn Byres commenting on the need for more flexible design guidelines for developing apartments in a September 23 statement: "It is timely to overhaul the design guidelines as they had become a rule, rather than a rule of thumb. We need to re-assert the principle that they are in place to encourage good design through innovation rather than prescription." 

#4. RP Data Victoria Housing Market Specialist Robert Larocca commenting on the state's shifting movements in reaction to stamp duty changes in a September 22 statement: "Given different incentives apply across the nation and first home buyer activity has been significantly higher in other times of rising prices, with higher interest rates, it suggests that something else is going on.

"Affordability issues are a legitimate concern but the question must be asked, is this significant drop in first home buyer activity part of a change in the home buying aspirations of young people in Victoria and what will it mean for the structure of the residential market in 10 years time?" 

#5. Master Builders Australia Chief Executive Officer Wilhelm Harnisch commenting on the proposed draft report of the Harper Review of Competition Policy in a September 22 statement: "This inefficiency forms a major obstacle to affordable home ownership by unnecessarily increasing the cost of construction and restricting the supply of new housing.

"Reforms that increase the housing supply will be more effective in improving affordability than abolishing negative gearing." 

Categories: Home Loans, Personal Finance