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Election resolution 'good for housing market'

Now that a government has been formed, issues addressing the housing market can be addressed, according to the Real Estate Institute of Australia.

The resolution of the Australian federal election is a positive thing for the housing market, the Real Estate Institute of Australia (REIA) has claimed.

David Airey, president of the REIA, said that the new government can now get on with addressing the issues that are currently affecting the Australian property market.

"A review of Australia's tax structure is important, in particular a review of inequitable and inefficient state property taxes, the retention of negative gearing arrangements for property investment and no CGT increases for property investments," he said.

Mr Airey went on to say that the REIA looks forward to working with the government on such issues.

The federal election was held on Saturday August 21st, but resulted in a hung parliament.

Some 17 days after the polling Julia Gillard of the Labor Party managed to gain the backing of the Green Party and three independents, which allowed her to hold on to her position of prime minister.

Posted by Ravin Chatlani

- election, REIA, sales, housing, market, Gillard

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