REINSW: The Real Week Ahead

As expected, the intense start to the year in terms of transactions and prices has  naturally begun to ease. 

As winter approaches, we see the market settling into more sustainable long-term  growth, with prevailing demand robust and supply still constrained, to keep prices  buoyant. 

Many vendors who have been slower to take advantage of the favourable conditions are  now preparing for a spring listing, although it’s impossible to say whether it’s a strategy  that will pay off. 

Listing a home for sale now potentially means getting ahead of the spring rush and, while growth in values may be easing, it is still apparent. 

Clearance rates should remain around the 80 per cent mark this week, down slightly  from earlier in the year, but still very credible. Appropriately priced properties will  continue to sell. 

There may be some heat coming out of the market but the importance of property to  Government and to the economy has again been underlined by the most recent stamp  duty numbers. 

In April alone, the NSW Government pocketed over $870 million from this tax and over this financial year to date, transfer duty revenue collected already exceeds the total from  the whole of last financial year. 

With so much at stake to an industry of unmatched social and economic importance,  REINSW will continue to make the case for reform. The Bill to establish a dedicated and  industry experienced Commissioner for Property Services was passed by the Upper House but the Government has indicated it will block the Bill in the Lower House. 

No reason why has been offered, so we’re mobilising the industry to pressure MPs to  carry this important reform forward.” 

The REINSW Roadshow is in Coffs Harbour and Port Macquarie this week. For ticketing  information visit: roadshow.reinsw.com.au