Continued support for investors as negative gearing defended
As the real estate market continues to develop and grow, the need for creating a sustainable environment where supply and affordability can be balanced is essential.
The latest release from the Real Estate Institute of Queensland (REIQ) has come to the defence of negative gearing, following a suggestion from the Federal government to remove this incentive for residential investors.
REIQ chief executive officer Antonia Mercorella said supporting investors was an important part of creating a healthy real estate market, as these buyers help to maintain rental affordability across the country and keep accommodation within reach of all residents.
"In Queensland more than a third of our population is in rental accommodation, so it's crucial that supply is maintained for this large section of the community," said Ms Mercorella in a 16 April statement.
"If private rentals were drastically reduced this would place enormous strain on the limited resources in public housing. It would also serve to drive up rents in remaining limited stock."
This could be wonderful news for those interested in purchasing investment property in Burpengary in the near future. Continued support for the rental market – especially with the nation's rising population – needs to be embraced to provide accommodation for people across the country.