Powered by MOMENTUM MEDIA
the adviser logo
Growth

Real estate lobby threatens to form political party

by Nick Bendel4 minute read

The NSW peak real estate body has chosen a candidate to run for parliament and fight for change.

Real Estate Institute of NSW president Malcolm Gunning said that members would form a new party if the government failed to address their concerns around industry training.

To continue reading the rest of this article, create a free account
Already have an account? Sign in

Mr Gunning told The Adviser's sister title, Real Estate Business, that the party would also campaign on broader property issues, such as taxes.

"The NSW government had a $1 billion windfall in the last budget from property taxes above what they budgeted for," he said.

Advertisement
Advertisement

"The price of property has gone up, but the thresholds for stamp duty haven't, so more and more people are falling into the higher bracket."

Mr Gunning said that while he cannot reveal the name of the prospective candidate, the person in question is a well-credentialed and prominent member of the real estate industry.

He said a tilt for parliament was realistic, given that about 70 per cent of Australians either own a property or have some direct connection with property.

Mr Gunning also said the industry would benefit from having its own person on the inside rather than seeing its influence diluted across several associations.

"If there was someone in government who spoke up about property matters that they thought were unreasonable, you'd get traction and would be far more likely to get change than if you were a lobbyist," he said.

Mr Gunning said it would be too soon to run in the next state election, due in 2015, but that the party would probably target an upper house seat in the next election.

[Related: MFAA defends brokers at parliamentary inquiry]

Real estate lobby threatens to form political party
default
TheAdviser logo
default

JOIN THE DISCUSSION

You need to be a member to post comments. Register for free today

MORE FROM THE ADVISER

daniel tuttlebee resimac asset fInance ta l27zun

Resimac takes controlling stake in Sonder

Resimac Asset Finance has expanded its acquisition stake in equipment finance business Sonder Equipment Finance...

READ MORE
asic ta 2

ASIC seeks ‘common-sense solutions’ to breach reporting

The Australian Securities & Investments Commission (ASIC) has committed to “improving” the operation of the...

READ MORE
andrew mills homestart ta htfetw

HomeStart drops graduate loan deposit to 2%

HomeStart Finance, a non-bank lender backed by the South Australian state government, has lowered the deposit hurdle...

READ MORE
magazine
Read the latest issue of The Adviser magazine!
The Adviser is the number one magazine for Australia's finance and mortgage brokers. The publications delivers news, analysis, business intelligence, sales and marketing strategies, research and key target reports to an audience of professional mortgage and finance brokers
Read more