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REIQ Journal : September 2008
INDUSTRY NEWS 11 Advertising stock route access considered misleading The Department of Natural Resources and Water (NRW) has recently reminded agents in regional areas about the risks associated with implying stock route access when advertising pastoral properties for sale. Stock routes are State lands that are administered in a similar manner to roads. In the absence of a transferable tenure, there is no certainty that access to an area of stock route will continue to be available to a new buyer. In the event that access is authorised, the conditions and costs under which this occurs may also vary. The occupation of a stock route without the appropriate permit is unlawful under the Land Protection (Pest and Stock Route Management) Act 2002. Members are advised to ensure advertisements for rural properties do not give the impression that the buyer will have automatic access to areas of stock route on the same terms as the seller. Advertising that indicates use of or access to a stock route is considered misleading. For more information, visit www.nrw.qld.gov.au/land/stockroutes National Rental Affordability Scheme launched The Federal Government has combined with State and Territory Governments to launch a prospectus for the National Rental Affordability Scheme, which offers incentives to investors and housing providers to build 50,000 new rental properties. With rental vacancy rates below 2 per cent in most capital cities, the scheme aims to increase the supply of affordable housing and reduce rental costs for low and moderate income households. Properties in the scheme will be rented out at 20 per cent below the market rate and are aimed at low to moderate-income earners such as childcare workers, first-year nurses, and hospitality workers. The scheme offers a Commonwealth incentive of $6,000 per dwelling per year and a State or Territory incentive of $2,000 per dwelling per year, which will be made available to up to 1.5 million low-income households. For more information, visit www.fahcsia.gov.au ACCC records fewer real estate complaints During 2006-07, the Australian Competition and Consumer Commission (ACCC) received 47,334 complaints. Of these, 551 (1.2 per cent) were against real estate agents. This represents a 26 per cent drop in the number of complaints made against real estate agents in 200506. For the first time since the REIA began observing the ACCC complaints data, real estate agents ranked outside the top 10 industries about which complaints were made in 2006-07. The REIA estimates that just 0.028 per cent (or one in every 3,509) of real-estateagent-assisted property transactions – including sales and property management – resulted in a complaint being made. The annual level of complaints appears to be closely related to changes in property prices rather than sales volumes. Strong increases in property prices result in increasing complaint levels, while complaints tend to decrease at times when prices are contracting. THE MARKET HAS CHANGED. How many of your Salespeople have worked in this market before? Do your Sales staff need fresh training, ideas, systems and resources to use now? Do you want your Agency and staff to comply with legislation requirements and avoid fines? Your solution is SALES BOSS. It’s new, innovative, online 24/7 and cost effective. VIEW ON-LINE EASILY – WITH NO OBLIGATION ENQUIRE NOW – you’ll be glad you did Call 1300 734 596 www.realestatedynamics.com.au REIQ Journal September 2008