“The lead up to Christmas has been vibrant for residential real estate and after a busy weekend of auctions, with clearance rates holding firm and volumes strong, this week should see the momentum maintained.
“Buyers across all demographics are out in force, spurred on by affordable finance, with plenty of properties selling prior to auction and all quality listings attracting substantial interest.
“Supply is easily outweighed by demand and this week we can expect some bullish offers from buyers looking to make a pre-Christmas play in a competitive environment.
“This is precisely the type of environment and conditions that could see new street and suburb records set. Time is running out for buyers who had their sights set on purchasing in 2020.
“In coming days, the REINSW will be releasing its detailed market outlook for 2021. Barring any unforeseen correction, we see the recovery continuing on a steady, sustainable track.
“Housing has an important role to play in the long-term economic recovery which Australia has only just embarked upon. In 2021, we believe the contribution of housing to that recovery will be a positive one.
“The REINSW will be focused on increasing the value of that contribution. We’ll do this by rallying against unreasonable taxation, be it stamp duty, property tax or any other name Government uses to tax consumers just for keeping a roof over their heads.
“We’ll also keep the pressure on Fair Trading by highlighting the unnecessary inefficiencies and pointless red tape that undermines the way agents serve their customers.”
To download the Media Release Click Here .
All quotes can be attributed to Tim McKibbin, Chief Executive Officer, REINSW.
For additional commentary on these topics and all other matters related to the NSW residential market, contact:
Tim McKibbin, Chief Executive Officer, REINSW
Mobile: 0415 931 013
The Real Estate Institute of New South Wales (REINSW) is the peak industry body for real estate agents and property professionals in NSW. It represents more than 2000 agencies across residential sales, property management, commercial, strata management, buyers’ agency, agency services and auctioneering. Established in 1910, REINSW works to improve the standards, professionalism and expertise of its members to continually evolve and innovate the industry. It lobbies the government and industry on behalf of members, develops new products and services to benefit agencies and professionals, and offers training and ongoing professional development. For more information, visit reinsw.com.au.