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The latest housing finance figures released by the Australian Bureau of Statistics (ABS) show that total lending for housing continues to grow steadily in response to interest rate cuts and the positive housing outlook, but that first-home buyers are missing out.
Housing finance figures for July 2013 show, in trend terms, that the number of owner-occupied finance commitments rose by 1.6% – following increases of 2.1% in June and 2.4% in May.
If refinancing is excluded, the increase, in trend terms for July, is 1.5%. 
Increases were recorded in all states with the largest increases in the ACT and Queensland, up 2.0% and 1.9% respectively, in trend terms.
There are increases in the purchase of established dwellings (up 1.8% in trend terms), the purchase of new dwellings (up 1.4% in trend terms) and the number of commitments for the construction of new dwellings (up 0.2% in trend terms).
The proportion of first-home buyers in the number of owner-occupied housing finance commitments fell to 14.7% compared to the June figure of 15.1%. The figure remains persistently low compared to the long-run average proportion of 20.1% despite seven interest rate cuts since November 2011.
In large part, this drop can be attributed to state governments withdrawing previous levels of support for first-home owners buying established dwellings and it is established dwellings that 80% of first home buyers prefer.
The value of investment housing commitments rose by 0.8%, in trend terms, in July resulting in over a year of consecutive monthly increases.
With the proportion of first-home buyers remaining consistently below the long term average, this needs to be a high priority issue for the incoming government.
 
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 Peter Bushby is president of the <a target="_blank" rel="nofollow" href="https://www.reia.com.au/">Real Estate Institute of Australia.</a>
 
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First-home buyers missing out amid positive outlook for nation's housing market: Peter Bushby

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The National Occupational Licensing Authority’s (NOLA) proposed appointment of a chief executive officer to its ranks during the election campaign is very surprising and alarming.
While acknowledging that NOLA is a statutory authority, the timing of this appointment beggars belief with the Government in caretaker mode and the future of NOLA uncertain.
With the first tranche occupations committing to ensuring that national licensing is implemented in a well thought out and intelligent way, NOLA makes the very odd choice with its advertisement for a CEO just before a decision is made on whether national licensing is to go ahead – something to be decided by state Treasurers in November.
To call for nominations for a permanent position before a decision is made on national licensing and to do this during the federal election smacks of a push for a pre-conceived outcome.
The closing date for applicants is 6 September - the day before the federal election. Another cynical NOLA move if I ever saw one.
REIA has been disappointed with NOLA’s handling of the national licensing process from the beginning.
Various information sessions conducted around Australia have shown NOLA representatives to be aggressive advocates for the COAG recommendations and the attitude to any industry or small business feedback indicated that a foregone conclusion had already been reached as to how the real estate profession would be licensed in Australia.
The Steering Committee released its Decision Regulation Impact Statement (DRIS) on national licensing for the property professions last month.
REIA will submit a formal response to the DRIS and most states and territories will provide their own consultation sessions with stakeholders in coming weeks.
It’s time NOLA listened to the views of small business on the need for adequate standards and training.
Peter Bushby is president of the <a href="https://www.reia.com.au/" rel="nofollow" target="_blank">Real Estate Institute of Australia.</a>
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The appointment of a new CEO for NOLA during an election campaign is very surprising: Peter Bushby

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The Real Estate Institute of Australia (REIA) calls on the Standing Council on Federal Financial Relations to advise the Council of Australian Governments (COAG) to jettison real estate into the second tranche of national licensing reform with the other property professions.
Agents across Australia will be looking to the treasurers to show leadership on this matter.
We want the treasurers to defend the need for high standards in the profession and ignore the COAG Taskforce’s push to dumb down real estate by eliminating the diploma and compulsory professional development, which operates individually or together in six out of eight states and territories.
REIA calls on the treasurers to do the right thing by protecting consumers.
We know that there is $550 million of competition payments on the table with the first tranche of national licensing. These payments need not be jeopardised by putting REIA in the second tranche.
A UMR Research opinion poll conducted in September 2012 shows that the majority of Australians favour a diploma qualification over a certificate, 82% believe that professional development should be required and only 17% support the COAG proposal to remove the current requirement for commercial properties to be sold and leased by licensed agents, with 69% opposing the deregulation of commercial property.
The Australian public knows what is good for them. They are vehemently opposed to any change to the current licensing arrangements, and our leaders must take their views into consideration during their deliberations.
It is unthinkable to imagine Australia turning its back on world’s best practice, which requires compulsory CPD in Singapore, every state of the US, and New Zealand. The government’s rhetoric on the importance of building a skilled Australian workforce will be hollow unless common sense is practised."
We implore the nation’s treasurers to advise COAG to move real estate to the second tranche so that due consideration can be given to the matters raised by the real estate profession. This also provides for a natural fit with the other property professionals.
The UMR Research is attached to REIA’s submission on the draft<a target="_blank" href="https://reia.com.au/userfiles/MEDIARELEASE_1350876017.pdf"> regulatory impact statement and is available here.</a>
Peter Bushby is president of the <a target="_blank" href="https://www.reia.com.au">Real Estate Institute of Australia.</a>
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Peter Bushby

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