Policy & Issues

The REIV identifies, formulates, encourages and promotes public policies that contribute to an economic and political environment favourable to the real estate industry and small business in general. This advocacy activity protects members' interests on a range of policy and regulatory issues. Members are represented through media comment and government lobbying on these property sector issues.

Federal Policy & Issues

The Real Estate Institute of Australia (REIA) represents members of the REIV and other state institutes on federal issues. REIA regularly makes submissions to government on a range of issues likely to impact real estate practice and the property market. It also responds to discussion papers released by government. Current issues of note include the campaign to retain negative gearing and reductions in stamp duty.

State Policy & Issues


The Institute maintains a strong relationship with the State Govenrment at various levels, to proactively support members' interests. The REIV also delivers a range of submissions in response to government consultations that are undertaken periodically. This activity delivers value for members in a continually evolving legislative landscape.


Foreign Investor Taxes


There are a range of federal and state taxes that apply to foreign purchasers of residential real estate. These taxes include the following:

  • Application fees for foreign buyers of residential property, effective 1 December 2015. More
  • An additional stamp duty tax (seven per cent of purchase price, effective July 1 2016) for foreign purchasers. More
  • Absentee land tax for overseas buyers, currently 0.5 per cent but will increase to 1.5 per cent 1 January 2017. More
  • Foreign residents selling real estate worth $2 million or more will lose 10 per cent of the purchase price if they can't prove they are an Australian resident prior to settlement, effective 1 July 2016. More

The REIV has held an interactive online webinar on the range of new taxes which apply to foreign purchasers. Presenters included representatives from the State Revenue Office (SRO), Australian Taxation Office (ATO) and the Foreign Investment Review Board (FIRB).  For members who missed it, an audio recording of the half-hour webinar is available to download here. (right click to download)

Price Quoting / Underquoting

The REIV has been working closely with the Victorian Government in regards to potential changes to price quoting in the Victorian property sector. This has included a member consultation process, to gain input and feedback on these important changes. In early March, the Government announced proposed changes which are still to be finalised and implemented.

On 31 March 2016 REIV President Geoff White and CEO Enzo Raimondo hosted an online briefing on the proposed changes to underquoting, to keep REIV members informed as these progress. An audio recording of the webinar, including questions and answers from members, is available to members below.

Download the recording (Member log in required)

Consumer Property Law Review

The Consumer Property Law Review, announced in August 2015, is a comprehensive review of four key pieces of property legislation. The review covers the Estate Agents Act 1980, Sale of Land Act 1962, Owners Corporation Act 2006 and Conveyancers Act 2006.The REIV has provided the State Government with responses to the following papers. 

Sale of Land and Business

Conduct and Institutional Arrangements

Owners Corporations


Residential Tenancies Act (RTA) Review

The State Government announced a review of the Residential Tenancies Act in November 2014 as part of its Plan for Fairer, Safer Housing. At present, the REIV has provided a response to the following papers. 

Alternative Forms of Tenure: Parks, Rooming Houses & Other Shared Living Rental Arrangements

Regulation of Property Conditions in the Rental Market

Dispute Resolution

Rights and Responsibilities of Landlords and Tenants

Rents, Bonds and Other Charges

Security of Tenure Issues Paper

Laying the Groundwork Consultation Paper

Commercial Licensing

The REIV has lobbied government extensively throughout 2014-15, following an announcement that licensing for large commercial transactions would be removed.

The newly-elected Andrews Government announced in May 2015 that this proposed regulatory change would be overturned and licensing retained, representing a strong outcome for REIV members.

Download this document

State Budget 2016

The REIV has provided a pre-Budget submission to the State Government focusing on a range of support measures for first home buyers and other market incentives. 

Download this document


Victorian Law Reform Commission (VLRC) report

The REIV provided extensive input to a VLRC consultative process in late 2014, which had the potential to impact heavily on property managers and sales agents. The consultation, Photographing Tenants’ Possessions, focused on the ability of estate agents to take photographs to sell or lease a rental property.

The VLRC report has been handed down and appears to take a “middle ground” approach to the issue. The report – while still to be  responded to by Government - represents a positive outcome for REIV members.

Download this document

Section 55

Consumer Affairs Victoria (CAV) is currently considering the currency and relevancy of Section 55 of the Estate Agents Act 1980. This section of the Act prohibits the payment of commission for agent sales to related parties in Victoria. 

The REIV has provided a submission to CAV on this issue, stating that an alignment with two other key states (NSW and Queensland) is needed. In these states, the payment of commission is allowed for related party transactions, under certain conditions.

Download this document

Previous submissions

Licensing Rooming House Operators
Aligning Paper and Electronic Conveyancing