From the CEO 16 November 2023

Cyber attacks on businesses have been making news recently and the REIQ is responding with a new initiative. We’re developing a national real estate cyber resilience toolkit to strengthen the sector against cyber breaches. Currently in development, the toolkit will act as a guide to clearly explain Australian privacy laws and data security requirements when it comes to everyday real estate transactions. It will also provide practical advice on how real estate agents can securely collect and store personal information to better safeguard against cyber-attacks. You can find out more about this initiative here.

On the topic of cyber-attacks, the latest episode of the REIQ Property Brief podcast features Aon National Client Relationship Manager Peter Lynch discussing why cybersecurity has never been so important to real estate agencies. Our sector is a target for hackers and Peter discusses what steps agencies should be taking in terms of protecting their data, along with the insurance implications.

Lastly, the REIQ is pleased the State Government has repealed the Queensland land tax regime with an amendment moved in Parliament last week. From the outset, we led with strong opposition to this confidence-shattering regime. We feared the repercussions for our economy and the potential damage it would cause to residential and commercial rental relationships for a relatively insignificant gain. Against a challenging backdrop of insufficient housing supply, to see this amendment passed and the land tax regime put to bed, is a most welcome and sensible move.