DESPITE Orange’s booming property sector it’s not all good new for real estate agents with the Real Estate Institute of NSW (REINSW) president warning of tough times ahead.
REINSW president Christian Payne, in Orange last week as part of a statewide meet-and-greet, said agents needed to work together to address key issues facing the sector, including stamp duty reform, a lack of housing supply and affordability, increasing interest rates, over-zealous planning controls and excessive red tape.
“We’re also here giving an update of the property market and talking about lobbying the state government over some of these issues,” Mr Payne said.
“The local market here is reflecting what’s happening statewide; a lack of supply of properties on the market.”
Mr Payne said as the population continued to grow this lack of property stock would push housing prices up.
“The market is tightening and real estate companies are merging, with some closing their doors because of the state of the market,” he said.
“Meeting with local agents is the best way to get the feel for what’s happening at the coalface here in Orange.
“Listening to their issues and concerns helps us frame our lobbying with government at all levels.”