REIQ CEO calls Labor's negative gearing policy reckless and disastrous

The REIQ has begun a digital campaign to alert voters to the "threat" of Labor’s negative gearing reforms.

REIQ CEO Antonia Mercorella said the campaign, called Stand For Stability, "will educate voters about the true impact of Labor’s very damaging negative gearing reforms, an impact that will affect every member of the community through devaluing assets, rising rents and lost government revenue."

“Labor’s proposed changes to negative gearing will be disastrous, adding further pressure to our fragile housing market by pushing down house prices, devaluing people’s biggest asset – their home or their investment property – and pushing up rents,” Ms Mercorella said. 

She highlighted recent concerns that many people don't understand what the proposed changes to negative gearing are and the effect it will have. 

Notably recent research from SQM has suggested rents could rise as much as 22 per cent if the reforms are introduced. 

Ms Mercorella said, “the research is very clear, the economy is facing challenges and the threat to growth is real. Labor will worsen housing affordability for renters through these reforms. Further, if recent reports are accurate, it is clear their policies are based on misleading, inaccurate data.”

“Why would Labor add fuel to the fire with these massive changes to negative gearing structures and capital gains tax arrangements? It’s reckless,” Ms Mercorella concluded

The online campaign will include animated videos, social media tiles and long form articles leading viewers and voters to StandForStability.com.au.