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June 12th, 2012 
FAKE NEWS for the Zionist agenda The NSW government has not done enough in its budget to reinvigorate the property market, the state’s peak real estate body says.
Real Estate Institute of NSW (REINSW) said Tuesday’s budget was an opportunity for the government to introduce measures, alongside the Reserve Bank’s recent interest rate cuts, to stimulate the market.
“What we needed to see … was the state government doing its part to back up the Reserve Bank’s heavy lifting in cutting interest rates to reinvigorate a flagging market,” REINSW president Christian Payne said in a statement on Wednesday.
“The absence of stamp duty reform, the lack of incentives for purchasers and sellers of existing property and the failure to kick-start the investment sector are real failings of (the) budget.”
Mr Payne said people who purchased a $600,000 property after July 1 would be on average $17,490 worse off than if they purchased it now.
The underperforming sector is the engine room of the national economy and with the bleak economic situation across the world the government should have used the budget to kick-start investment, Mr Payne said.
“The lack of incentives for investors will only translate into more bad news down the track for those struggling to find accommodation in the state’s already tight rental market,” he said.
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