New home completions beat 1971 record, but will it be enough?
A record number of new homes were built in Sydney in the year to February, but John Cunningham, president of the REINSW, says more needs to happen in NSW to alleviate affordability pressures.
Auction clearances indicate real estate market could be drifting lower
The auction clearance rate of Australia's capital cities was 74.6 per cent last week, virtually flat with the previous week's result. But Sydney and Melbourne's clearance rates are in a downward trend, says CoreLogic.
'Technology and tomorrow’s agent' is the theme of the REINSW’s 2017 Roadshow, which will travel to regional areas starting today in Dubbo, and finishing in Sydney on 15 August.
The preliminary clearance rate across Australia's five capital cities last week was 76.9 per cent, up from 69.8 per cent the previous week, according to CoreLogic.
More properties went to auction last week than in any other week of the year, but the increase in supply did nothing to dampen demand - the nation-wide clearance rate rose to 77.6 per cent.
One in five NSW agents not meeting professional development standards
A random audit by NSW Fair Trading of 314 people working in the real estate industry found that 68 individuals had not completed their mandatory Continuing Professional Development training.
The REINSW says policies being considered by the NSW government to improve housing affordability for first homebuyers is a step in the right direction.