"Providing a stimulus to economic activity outside the mining sector, including the housing and building sectors, was amongst the main reasons for the RBA to keep the official cash rate at record low levels since August 2013.
"A change in negative gearing arrangements will put that at risk economic growth and cut the asset base of Australian households at a time when we need to facilitate further sustained growth in the housing sector.
"The value of building stock owned by Australian households is $5.6 trillion (million million). It has been predicted by SQM Research that on a national basis as much as 16% could be wiped off this over the three years 2018 to 2020 under the Labor policy."
For more information, read the full media release on the Real Estate Institute of Australia website here.