NEWS

Renters forced into budget limbo

Renters play their own kind of limbo. Caught between putting a roof over their heads and purchasing their own home, renters are often trapped in a budget balancing act.

It’s a delicate balance that impacts more than one third of all Queenslanders who currently rent, and proposed reforms to Capital Gains Tax and Negative Gearing may only make this juggle more difficult.

Representing the interests of real estate practitioners in Queensland, we appreciate the unique perspectives of all industry stakeholders — renters, investors and professionals — considering the unique perspectives and issues at play when sweeping reforms are tabled.

Rental increases should be allowed to occur… naturally

Part of renting property is the knowledge that rental increases happen — it’s a market-driven, natural occurrence that most renters can accept and appreciate.

What is not appreciated are forced rental increases, like the ones that would occur under the proposed reforms. For example, the average three-bedroom home in Brisbane rents for $435 a week. Under the proposed reforms, this could increase to $530 per week.

With home finances already stretched, the proposed reforms could increase pressure and budgeting constraints leading to prolonged rental dependencies or worse, putting additional strain on the public housing sector.

The proposed reforms threaten to destabilise our real estate industry, we want to make sure the impacts to Queensland — and Queenslanders — are considered.

The REIQ is having conversations for our industry to ensure all potential impacts are considered within the proposed reforms.

Support us, and your fellow renters by standing for stability and registering your impact here.