REINSW: Real Week Ahead 14 December

“The lead up to Christmas has been vibrant for residential real estate and after a busy weekend of auctions, with clearance rates holding firm and volumes strong, this week should see the momentum maintained.

“Buyers across all demographics are out in force, spurred on by affordable finance, with plenty of properties selling prior to auction and all quality listings attracting substantial interest.

“Supply is easily outweighed by demand and this week we can expect some bullish offers from buyers looking to make a pre-Christmas play in a competitive environment.

“This is precisely the type of environment and conditions that could see new street and suburb records set. Time is running out for buyers who had their sights set on purchasing in 2020.

“In coming days, the REINSW will be releasing its detailed market outlook for 2021. Barring any unforeseen correction, we see the recovery continuing on a steady, sustainable track.

“Housing has an important role to play in the long-term economic recovery which Australia has only just embarked upon. In 2021, we believe the contribution of housing to that recovery will be a positive one.

“The REINSW will be focused on increasing the value of that contribution. We’ll do this by rallying against unreasonable taxation, be it stamp duty, property tax or any other name Government uses to tax consumers just for keeping a roof over their heads.

“We’ll also keep the pressure on Fair Trading by highlighting the unnecessary inefficiencies and pointless red tape that undermines the way agents serve their customers.”

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