Property Marketing
.

The Times Property
 
The Times Real Estate

.

Floods & the rental crisis

  • Written by Tim McKibbin, CEO of the Real Estate Institute of NSW (REINSW)


Disturbing global events were cited in the Reserve Bank’s decision to keep rates on hold and the floods add further uncertainty to the outlook. 

The catastrophic toll of the floods will necessarily impact the residential market in many ways, some unforeseen, and this will be felt for many months, even years.

The rental market in particular can be expected to come under even more stress. A large-scale clean-up will need to occur and many damaged homes will be in need of  repair.

But rental vacancy is already extremely tight and, as more people seek rental accommodation while this work is carried out, the options for those whose homes have  been impacted are slim. 

Landlords, often on the receiving end of housing policy decisions, play an enormously  important role in providing rental accommodation. Policies which discourage people from  investing in property need re-thinking, because the rental crisis is set to worsen.

These events are unfolding at a time when house price growth appears to have flattened.

Demand however remains strong. Nationally, auction volumes over the weekend were nearly double that of the corresponding week last year, and yet the clearance rate  comparison shows only a mild decrease. 

There is a temptation among commentators to equate a normalisation as something more sinister. Yet, as agents are experiencing on the ground, the stability in prices is a  consequence of the levelling of the power balance between buyers and vendors.

Buyers recognise this and are enjoying their moment. Buyers agents are doing what they can to encourage vendors to sharpen their pencils. This is the type of market where  sales agents really earn their fees.

It’s also a time when the value of our investment in our homes is magnified, as many people across the state grapple with devastating loss.

Protecting Your Investment: Benefits of Outdoor Car Covers

Outdoor car storage comes with a tradeoff. It’s convenient and often necessary—but it exposes your vehicle to weather, wildlife, and wear. Whether it’s the family SUV, ...

How to Elevate Your Open House Setup

When it comes to real estate, first impressions are everything. And nowhere is that more important than during an open house. A well-executed setup can mean the differe...

What Landlords Need to Know About Indoor Air Monitoring

Indoor air quality is no longer just a concern for hospitals or luxury office towers. For today’s landlords—whether you lease out a single apartment or manage a multi-u...

Branding Your Real Estate Office With Visual Impact

First impressions don’t just happen at open houses—they begin the moment someone walks past your office. In today’s fast-moving property market, a real estate brand isn...

Beyond Listings: How Realtors Are Reinventing Home Showcases

The real estate industry is evolving—and so is the way properties are being presented to potential buyers. Traditional open houses and static online listings still serv...

Taking a Look at the Stages of Conveyancing in Melbourne

Conveyancing in Melbourne is a vital process for anyone buying or selling property. Whether you're a first-time homebuyer or selling your family home, understanding the...