The Realestate week coming
- Written by Tim McKibbin
The year will be at an end before we know it. Vendors wanting to secure a sale this year, and people wanting to be in a new home by Christmas, need to act now.
And plenty are. The number of auctions in Sydney is encouraging week-on-week and the environment of stable prices is understood by buyers and sellers, supporting balanced negotiations and steady transaction activity.
It’s business as usual for the market with the spotlight remaining on the rental situation, as the lack of options for tenants continues to bite.
Rental prices remain high as a result of the supply shortage, compounding other cost of living concerns for many people.
Tomorrow’s Federal Budget is expected to be a tough one in the context of the delicate global economic scene.
As previously announced, the forthcoming increase in the number of permanent migration visas, designed to address shortages in the economy, will also introduce new pressure to housing supply in New South Wales.
The Federal Housing Minister has called the Australian Government’s housing reform ‘ambitious’ but in New South Wales, those ambitions will only be realised through measures to increase supply.
Be it through reforms to planning, taxation or otherwise, the need to address supply in the state remains as pressing as ever.
