The Real Estate Institute of Queensland (REIQ) is welcoming a Bill before Parliament today that will abolish stamp duty on new builds and land for eligible first home buyers from 1 January 2025. REIQ Acting CEO Kat Beavon said this was a positive step towards removing significant financial hurdles and helping thousands of first home buyers off the starting blocks in Queensland. “With Queensland’s home ownership rate sitting at 63.5%, the lowest of any state in the nation, this is a welcome measure to help more people achieve the Great Australian Dream,” Ms Beavon said. “First home buyers in Queensland in particular face additional challenges,Read More →

Queensland’s rapidly rising residential property prices stabilised over the September 2024 quarter (July – September 2024), as a wave of Spring sales began settling. The latest median sales results released by the Real Estate Institute of Queensland (REIQ) today, reveals a modest 0.26% increase in Queensland’s median house prices for the quarter, lifting to $772,000. While annual house price growth remains impressive across the state, some regions saw slight quarter-on-quarter dips, suggesting a slowdown rather than a halt in price growth. The Gold Coast, Brisbane, and Cairns were among the house markets showing signs of stabilisation, while regional areas like Mackay (8.83%), Noosa (7.37%), TownsvilleRead More →

The Real Estate Institute of Queensland (REIQ) is urging the Government to adopt a more balanced and reasonable approach to the expansion of the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) regime, than proposed in the AML/CTF Regime Amendment Bill 2024. As it stands, the Attorney-General’s Department Impact Analysis estimates the ongoing annual cost of the regime at ~$2bn per annum for the property industry. Queensland’s property industry will absorb a whopping ~$250m of that cost per annum. REIQ CEO Antonia Mercorella, who represented Australia’s real estate professionals before a Federal Senate Committee last week, emphasised the REIQ’s support for the regime’s objectives, but raised significant concerns aboutRead More →

The Real Estate Institute of Queensland (REIQ) has released its residential vacancy rates report for the September 2024 quarter, with the peak body noting that tight conditions appear to be ‘the new normal’ for the rental market. Of the 50 local government areas and sub regions covered in the report, vacancy rates tightened in 19, remained unchanged in 18, and relaxed in 13 this quarter. Most changes were a modest 0.1 – 0.2 percentage points. Exceptions included Mount Isa, Redland’s Bay Islands and Lockyer Valley where tightening rates were more pronounced. In contrast, Cairns, Tablelands and Isaac experienced slight rate relaxations. Overall, low vacancy ratesRead More →

The Real Estate Institute of Queensland (REIQ) is welcoming Queensland Premier David Crisafulli’s newly revealed cabinet, who face complex housing challenges ahead. Along with the Premier, the REIQ is looking forward to working with the new leaders, including those responsible for shaping the future of the state’s housing: REIQ CEO Antonia Mercorella expressed optimism at the appointment of dedicated ministers for home ownership and housing – critical roles given the crises in our state. “Queensland has instilled a lot of hope in our new leaders, and there is a real opportunity to show them that housing will remain a key priority of this cabinet,” MsRead More →

The Real Estate Institute of Queensland (REIQ) is excited to announce the election of two new Directors to its Board after the results were revealed at today’s AGM. In accordance with the Institute’s Constitution and by-laws, the positions were contested by a vote of the membership, resulting in Daniel Burrett and Nadine Edwards being elected to the REIQ Board for a three-year term. REIQ Chairman Peter Brewer congratulated Daniel and Nadine on their successful campaigns amid a high number of qualified candidates vying for the roles. “I want to acknowledge the particular honour it is to have secured these positions in a year where theRead More →

REIQ Fellow and industry stalwart, Felix Reitano, has been recognised for a lifetime of dedication to the real estate profession after being named an REIQ Life Member today. After nominations are sought and consideration is given by the REIQ Board of Directors, Life Members are confirmed by a vote of members at the Annual General Meeting and Felix received a resounding level of support in favour of his appointment. REIQ CEO Antonia Mercorella said the real estate peak body considers this distinction for REIQ members who have shown long outstanding and meritorious service. “Felix certainly fits the bill for the honour of Life Member, holdingRead More →

The Real Estate Institute of Queensland (REIQ) is welcoming Federal Housing Minister Clare O’Neil’s support for phasing out stamp duty, signalling the time is right for reform. Speaking to ABC RN, Minister O’Neil expressed the Albanese Government’s support for greenfield development and infill of higher-density suburbs, as well as backing calls for stamp duty – a “bad tax”, to be phased out. REIQ CEO Antonia Mercorella said this publicly stated position opened the door for the State Government to work with the Federal Government to phase out Queensland’s outdated stamp duty regime to encourage a higher rate of home ownership. “Stamp duty presents a considerableRead More →