REIA endorses Labor government’s $10 billion home ownership plan

The Real Estate Institute of Australia has welcomed the newly elected Labor government’s commitment to housing policy, particularly its $10 billion investment aimed at boosting housing supply.

REIA President Leanne Pilkington endorsed Labor’s approach, which includes funding for 100,000 homes for first home buyers.

“This election has underscored the critical importance of stable and practical housing policy. Labor’s return to office comes with a strong mandate to tackle affordability and increase home ownership across the country,” Ms Pilkington said.

The government’s plan will enable buyers to enter the market with deposits as low as 5%, a measure that REIA believes will particularly benefit younger Australians.

“We welcome Labor’s emphasis on supply and affordability. Support for first home buyers is a vital step toward bridging the generational divide in housing access,” Ms Pilkington said.

REIA also expressed satisfaction with Labor’s decision to maintain existing negative gearing and capital gains tax arrangements.

“The decision to retain these tax settings is a sign of balanced reforms. This is not the time to introduce destabilising changes to a market already under pressure,” Ms Pilkington said.

The peak body highlighted several challenges that will need to be addressed as the government works toward its target of 1.2 million new homes, including planning delays, labour shortages and high construction costs.

“The challenge now is implementation. The path forward must focus on practical delivery, measurable progress, and transparent outcomes,” Ms Pilkington said.

REIA, which represents 85% of Australian real estate agencies, indicated it looks forward to working with the Labor government on housing policy implementation.