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New Premier should axe Tenancy Act changes
Released 4 December 2009

The REINSW has congratulated the new Premier of NSW, Kristina Keneally and called on her to act decisively to encourage greater investment in the state’s real estate sector.

“We look forward to working constructively with the new Premier on rebuilding the investment property sector in NSW,” said REINSW President Wayne Stewart.

“One of the first acts the new Premier should make is the axing of the anti-investment amendments to the Residential Tenancy Act.

“These draft amendments, if approved, will see investors fleeing to other states and hurt tenants with skyrocketing rents.

“NSW desperately needs to encourage investors to return to the market in order to address the rental accommodation crisis which continues to grip the state – not turn them away!

“REINSW will be seeking an urgent meeting with the new Premier to outline our serious concerns with the draft amendments and what steps need to be taken to protect both landlords and tenants,” said Mr. Stewart. 

Please direct media enquiries to Julian Brophy on 0408 276 749
.