Ken Morrison, the chief executive of the committee, said: Bold policies are needed to restart the economy and make the real estate industry a key factor in the recovery. The core of the proposal is to provide AUD 50,000 “new housing subsidies” for new home buyers The committee estimates that this will stimulate the construction of 50,000 housing units and support 200,000 jobs. In the economic stimulus plan of the Rudd Government during the ruling period, first-time home buyers can receive a subsidy of AUD 21,000 during the global financial crisis!
The plan will last for 12 months and is limited to 50,000 properties, and there is no upper limit to the value of the house. The council also called for major tax reforms to support the industry, including the exemption of the national stamp duty, and to replace the stamp duty by expanding the basis of goods and services tax. The Australian Real Estate Commission launched a “Welcome to Immigration” campaign to attract foreigners to Australia. On Wednesday, the organization said that after the coronavirus pandemic, if there is no change, the residential industry will put pressure on the economy. Executive Ken Morrison said: Bold policies are needed to restart the economy and make the real estate industry a key factor in the recovery. The Australian economy is expected to contract by 10% in this quarter of June. As the largest employer in Australia, the real estate industry has contributed more than 13% of GDP. With the correct policy settings and market incentives of the federal, state and local governments, the real estate industry can become a driving force for economic recovery and growth!
The council hopes to develop a “Welcome to Australia” immigration plan, which includes a large advertising campaign to promote Australia as a safe and healthy destination. It believes that the current skilled immigration points system should be temporarily lowered and people are encouraged to live in the capital and major regional centers.
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