Property Investors Council of Australia Lobby Group Launched
Australia’s millions of property investors have a new outlet to lobby the government, with a new group aiming to protect their interests.
The Property Investors Council of Australia describes themselves as a not-for-profit association run “by property investors, for the interests of property investors”.
Their objectives include spreading the message that property investors contribute to tax revenue, job creation, property and rental accommodation supply and affordability, self-funding retirement and economic growth.
But the group is also aiming to stop investors from being “singled out”, saying that property investors have been blamed as the main cause of unaffordable housing, as well as being slugged with higher lending costs and being subject to a raft of unfair taxes. For this reason, they say there needs to be a “strong and united voice”.
REINSW CEO Tim McKibbin said it was inevitable that property investors would come together to lobby the government.
“Residential property investors shoulder a great deal more burden than other investors and a good share portfolio doesn’t put a roof over someone’s head,” he said. “We need more investment and yet we are seeing it becoming a political football.”
Mr McKibbin said there was a list of concerns that investors should be focusing on – including negative gearing restrictions, which Real Estate Institutes across the country have argued against – and welcomed any group that would lend its voice to these concerns.