REIV applauds the end of the rent freeze discussion

A SPOKESPERSON for the state’s peak real estate body, the Real Estate Institute of Victoria or REVI, has said members are buoyed by a Federal Government announcement to end to consideration of rental caps and freezes.

The REIV has been running a campaign against the move, claiming that while a rent freeze might save renters some money in the short term, it would drive away investors and further impact rental supply.

REIV CEO Quentin Kilian said it’s encouraging to see a national approach being taken to address the underlying causes of the housing and rental crisis playing out across Australia.

“Housing supply is the foundational issue facing Australia’s residential property market and increasing supply is where policy needs to start,” he said.

“A rental cap or freeze over and above the legislation already in place in Victoria was an ill-considered idea that would only drive more investors from the market and leave renters out in the cold.”

“It’s reassuring to hear state and national leaders are now heeding our call to address the root cause of supply head on.

“With states now encouraged to focus on increasing housing supply in place of rental caps, we welcome the opportunity to work with the State Government on how to relieve that pressure on the market for now and into the future.”

REIV recently provided feedback on the state’s Residential Tenancies Act as part of an inquiry into rental and housing affordability issues in Victoria.

The feedback was gathered following recent RTA amendments in Victoria.

An REIV spokesperson called on the State Government to “unconditionally remove rental caps and freezes off the table and prioritise discussions on bolstering supply and improving rental policy efficiencies.”