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16 April 2018
By portermathewsblog


Hayden Groves via therealestateconversation.com.au

The REIWA has come out in support of the WA state government’s plans to improve housing affordability by increasing housing diversity and density.

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The Real Estate Institute of Western Australia supports a State Government plan to improve housing diversity and density to boost housing affordability.

REIWA President Hayden Groves said housing affordability remains one of the more challenging issues affecting West Australians.

“REIWA believes that access to secure and appropriate housing is essential to the success of communities and the prosperity of our state.

“REIWA is committed to ensuring everyone wins in property and will work alongside the WA Government to ensure the Affordable Housing Action Plan makes a positive impact to the lives of West Australians,” Mr Groves said.

Minister for Housing; Veterans Issues; Youth, Peter Tinley outlined the strategic plan this week, which promotes a ‘connected city’ by ensuring the needs of our diverse population are met.

“REIWA would like to congratulate Minister Tinley and the WA Government on this initiative that will promote a connected, sustainable and accessible property market into the future,” Mr Groves said.

The McGowan Government aims to deliver affordable homes as part of its METRONET vision and is currently developing its Affordable Housing Action Plan for release in mid-2018.

REIWA will work alongside the Government during the development of the action plan which focuses on:

  • Connection between people, place and home;
  • Real and enduring affordability for those on low-to-moderate incomes;
  • Earlier and more connected housing and support services;
  • Creation of diverse precincts that will include options for low-income earners; and,
  • Diversity of options to meet diversity of need.

REIWA sits on the METRONET industry board and will work closely to advocate the delivery of affordable housing stock and the creation of METROHUBS.

REIWA will continue to actively support Government in ensuring all Western Australian’s have access to affordable housing through collaboration with the private sector.

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08 February 2018
By portermathewsblog


via hartpartners.com.au

Parliament has passed the legislation allowing first home buyers to save for a deposit inside superannuation through the First Home Super Saver Scheme (FHSSS) and also allowing older Australians to ‘downsize’ and then contribute the proceeds of the sale of their family home into superannuation.

From 1 July 2018, a first home buyer will be able to withdraw voluntary superannuation contributions they have made since 1 July 2017(up to $30,000 each, with individuals being able to contribute up to $15,000 a year within existing caps), along with a deemed rate of earnings, to help buy their home.

Also, from 1 July 2018, when Australians aged 65 and oversell a home they have owned for at least 10 years, they may contribute up to $300,000 from the proceeds into their superannuation accounts, over and above existing contribution restrictions. Both members of a couple may take advantage of this measure, together contributing up to $600,000 from the proceeds of the sale into superannuation.

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