The local real estate market is unrecognisable to pre-pandemic times, with affordability concerns, spiking demand, a lack of housing and recent natural disasters having major impacts. Against these shifts, the Real Estate Institute of NSW (REINSW) is visiting Batemans Bay to brief industry representatives and business people on the state of the market and what the future holds.
Batemans Bay is the next stop on the REINSW 2022 Roadshow trail.
CEO Tim McKibbin, President Peter Matthews, research experts from REA Group and industry insiders will visit Club Catalina on Tuesday 31 May to brief REINSW members and the community on how, and why, local real estate has evolved – and the factors set to influence the future.
“Between the pandemic, recent natural disasters, prevailing affordability concerns, a critical lack of rental accommodation and a shortage or properties to buy, many regional markets across New South Wales find themselves on a knife-edge,” REINSW CEO Tim McKibbin says.
“Real estate plays a critical role in propping up the state’s economic health, more than any other industry, and for this to continue, there are several critical issues which must be addressed. Everyone deserves a roof over their head but the housing crisis requires coordination from Governments at all levels.
“Local Governments have a major role to play to support new housing supply and give people choice, especially as many Sydneysiders look to establish a new life in the regions,” he says.
According to REA Group, in the Eurobodalla Shire, the median price of a property has increased by 31% over the last 12 months, well above the 21% seen in Greater Sydney.
Rent growth has also been stronger, up 16% versus 2% in Greater Sydney.
The REINSW is taking its 2022 Roadshow across NSW to key regional and metropolitan markets. The REINSW team will undertake new training and education for its members and meet with local stakeholders to discuss the current real estate reforms set to shape the future of the state’s largest industry.
"Assistance Dogs Australia is the official REINSW charity partner for 2022 and representatives of the organisation – including some adorable four-legged ambassadors – will be in attendance.
“All monies raised through the REINSW Roadshows and events will go towards the construction of the new home for Assistance Dogs Australia in Western Sydney, which will triple the placement of certified assistance dogs in the near future,” says Richard Lord, National Project Director, Assistance Dogs Australia.
“Although we already support over 200 clients and their assistance dogs, the demand from people with PTSD, families with children with autism, and people with mobility diversity is immense. The new centre will go a long way to meeting the need,” he says.
REINSW CEO Tim McKibbin