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Lobby group launched to protect property investors


A lobby has been created to protect Australia’s property investors.

The Property Investors Council of Australia (PICA), who launched at the Sydney Property Buyer Expo on Saturday, describe themselves as a not-for-profit association run “by property investors, for the interests of property investors”.

The groups aim to spread the good word about investors as contributors to tax revenue, jobs, housing supply and economic growth.

But not everyone is happy about the new group.

Anthony Ziebell, founder of landlord review website Don’t Rent Me, told Domain that the creation of PICA is “humourous” and “not needed.”

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“I don’t think they are in a position of having [policies] against their will … it is slanted the other way,” Ziebell said.

“There’s already so much representation for the real estate industry, so it is surprising they think it’s necessary … most people can see there is a stark difference between those who have the power and those who don’t.”

Similar concerns were echoed by Taj Singh, co-founder of a lobby group for first home buyers.

He said that landlords receive generous tax concessions and are in a position of greater power than first home buyers in every state in the country.

Singh told Domain he was surprised this new lobby group was being created.

Source: Domain