Peter Bushby elected REIA president

Peter Bushby has been elected the new president of the Real Estate Institute of Australia, replacing Pamela Bennett.

Bushby began his career in real estate in 1972 and has worked in the northern Tasmanian market of greater Launceston for the past 40 years.

He was a partner in Bushby First National and opened his own real estate agency in 1997.

Responding to October housing data, Bushby says the RBA’s recent cash rate cut last week was justified, and that there has been a modest housing market response to previous cuts.

“In trend terms, increases were recorded in all states and territories except the Australian Capital Territory, which remained flat. The largest increase was in the Northern Territory, up 3% in trend terms,” Bushby says.

He also called on the RBA to further cut rates in early 2013.

“The RBA’s rate reduction in December was justified. With inflation within the RBA’s target zone, I hope they act in the interest of home owners with an early 2013 reduction. That would certainly make it a happy new year,” he says.

Bushby has been a member of the Real Estate Institute of Tasmania state executive since 2003 and was the REIT’s president from 2007 to 2010. He is also an associate and fellow member of the Real Estate Institute of Australia.