NSW Real Estate Institute hosts real estate roadshow in Batemans Bay

The latest trends and developments in the property industry were the focus of the roadshow, hosted by the Real Estate Institute of NSW (REINSW).

The roadshow travelled to various 'hubs' along the South Coast where members undertook new training and education in line with regulator requirements.

But the question on everyone's mind was how long the market would continue to boom, and how different levels of government should assist.

REINSW CEO Tim McKibbin said there were key areas he believed hadn't been considered.

"What hasn't been recognized in the current market is there are nearly 500,000 people who have come home from overseas since the pandemic began, and that drives demand," he said.

"At the same time, nobody seems to talk about the issue of property taxes. Forty percent of property expenses are taxes, and I think government could start there when looking for ways to reduce costs, especially for first home buyers."

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REINSW president Leanne Pilkington said the roadshow was also an opportunity for local agents to discuss the state of the market and how to respond to it.

"Property managers are truly the angels of the industry, and they are increasingly concerned about the lack of affordable or available properties for renters in the area," she said.

"They have been under huge stress for the past 12 months when it comes to finding places for people to live and supporting landlords and tenants who lost their jobs during the lockdowns and needed guidance on what to do next.

"Property managers take on the responsibility of putting roofs over peoples heads and it's a job becoming more and more difficult with the lack of availability."

The number of properties listed at any given time usually sits around the 500 mark, but increased shortages on the South Coast have seen that number drop to just 180, an issue which impacted prospective buyers and renters.

Mr McKibbin said across the board the only places which had not seen property price increases were inner city areas close to universities.

"A year ago we couldn't have predicted this, we thought we were going to see property markets fall and everyone was very uneasy," he said.

"We've been as surprised as anyone by the increasing prices across the board and time will tell how long it continues."

The South Coast real estate market has experienced a spike in demand as buyers from Sydney and elsewhere discover the area, which Mr McKibbin said was triggered by the pandemic.

"People in regional centers have always tried to entice people from the cities to move here because of what a wonderful lifestyle it was and I think that message always got through, but the ability to be able to live in regional areas hadn't presented but now it has, and this is unquestionably something that's come out of COVID," he said.

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