Property Insiders - Property Investors Council of Australia (PICA) with Ben Kingsley

“We know that the State Governments have all but abandoned public and social housing over the last decade in the tens of billions of dollars. And the people who have picked up the slack have been mum and dad property investors.”

Ben Kingsley is David’s guest on this episode of Property Insiders. Ben is the host of his own podcast, The Property Couch, as well as being CEO of Empower Wealth and the current Chair of the Property Investors Council of Australia (PICA). Here he chats with David about what PICA is and what its plans for the near future.

Ben explains that PICA exists to educate and advocate on behalf of property investors. A relatively recent group, it is not a group set up by business, but rather by other property investors in a response to proposed policy changes which may negatively impact upon the investment market. As opposed to PIPA - which serves the industry professional - PICA serves the consumer.

PICA’s key goal is to represent its voter base, something it plans to do through providing members with opportunities to voice their views. PICA also seeks to help people understand property investment better.

In addition, PICA wants to protect the rights of property investors through advocacy so investors won’t see a decline in their investment because of poor policy. They wish to find the right balance in regulation to improve the industry and protect member’s investments.

Ben sees the biggest issues as being proposed changes to negative gearing and capital gains. These are not just problems for investors, but for everyone involved in housing: renters, homebuyers, and construction. In regards to negative gearing, price fluctuations may not be uniform across the state, meaning price reductions in some outer areas, which will push up prices in the inner city.

State governments have fallen by the wayside with respect to investing in public and social housing, and it is small-time investors who have picked up the slack. They continue to drive demand with their investments, and if they were to leave the market, there would be no one to pick up the slack.

To become a member of PICA, those interested can simply head to the website (pica.asn.au) and pay the $5 yearly fee (or $20 for 5 years). The funds collected are put towards policy responses and submissions, in particular relating to flagged changes to negative gearing and to tenants’ rights.

Members are able to communicated their views to the board through petitions and open channels. PICA regularly updates its members on what is happening in the industry and is seeking independent assessments on the impacts of proposed policies. PICA is open to meaningful and constructive discussions around policy, and seeks a sustainable industry where property is available to everyone who wants to buy or invest.

 

About your host, David McMillan

During his 16 years in the property industry David has worked as a property valuer and property adviser to private clients, financial planners, accountants, finance brokers, major banks and governments. He has been involved in more than $500M worth of transactions across Victoria, New South Wales, South Australia & Queensland.

Since 2009, David has been specifically focused on helping medical professionals, expats, business owners and busy executives build effective property portfolios.

David is a fully licensed real estate agent in Victoria, South Australia and Queensland (CEA), Certified Practicing property Valuer (CPV), Qualified Property Investment Advisor (QPIA) and most importantly is an active property investor. David joined the Australian Property Institute in 2001 and is now an Associate (AAPI) and in 2009 became a member of the Real Estate Institute. David currently sits on the board of Property Investment Professionals of Australia (PIPA) to promote ethics in the property investment industry.

About David’s guest, Ben Kingsley

Ben is the founding Director of Empower Wealth, former Chair of Property Investment Professionals of Australia (PIPA), and current Chair of Property Investors Council of Australia. 

A qualified Property Investment Advisor (QPIA), he holds Real Estate Agency Licenses in VIC, NSW & QLD, a Diploma of Finance and Mortgage Broking Management, Diploma of Business and has become one of Australia’s leading experts in property investing for wealth creation.

20 years experience in property investing, finance and wealth creation, together with a comprehensive understanding of industry regulations, issues and trends, has positioned Ben as a genuine expert in property finance and money management. In 2014, he won the Best Property Investment Advisor of the Year Award by Your Investment Property Magazine.

Ben also writes for Money Magazine, Smart Property Investor, Australian Property Investor Magazine and Your Investment Property Magazine and is the co-host of the free and very popular property investing podcast, The Property Couch, an insider’s guide to property investment.

 

‘Property Insiders’ is one of three segments you will hear on the Performance Property Data podcast. Released every four weeks, they are conversations between David McMillan (Director Acquisitions - Performance Property Advisory) and industry leaders offering knowledge and expertise. 

‘The Property Pineapple’ is also released every four weeks and is hosted by Sharon Taylor (Research Analyst - Performance Property Advisory). The show presents listeners with stories from real investors, discussing their wins, and admitting their losses.

And ‘Performance Insights’ are released every Wednesday and Friday, giving you technical information and the lowdown on key property markets around Australia. These episodes are also available as short videos at our youtube channel.

For more information about how Performance Property Data can help you maximise your investment dollar, head to www.performancedata.com.au