As interest in the regional property market is on the rise, the Real Estate Institute of NSW (REINSW) will be visiting Goulburn on Monday, June 21.
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The peak body for the industry plans to meet local stakeholders, train REINSW members to discuss the future of the state's largest industry during the visit.
REINSW CEO Tim McKibbin said that real estate is a major economic and employment contributor and its importance as local industry is growing rapidly.
"Well-located regional centres with strong infrastructure links and lifestyle appeal have experienced considerable growth as a consequence of the pandemic, as more and more people prioritise their lifestyle with the ability to work from home," Mr McKibbin said.
"This has certainly been the case in Goulburn. According to PRD, the median house price in the Goulburn-Mulwaree area of $469,000 as at the end of 2020 grew a substantial 9.8 per cent over the previous year, while the number of transactions in the area was up 33 per cent for the same period.
"There is $49.4 million in new local projects commencing in 2021, so the signs point to recent growth continuing.
"However, the other view of the growth story is the pressure that's being placed on the local property market. There are simply not enough homes to satisfy demand. The choice available for people looking to buy and rent is constrained, and it can be distressing for those looking to secure accommodation to find there's not much available.
"The real estate landscape is changing in the local area and this is coinciding with a range of reforms to the industry that has the potential to re-shape the market for the long term."
Meanwhile, Dr Diaswati Mardiasmo of PRD said that there are several projects in the pipeline in Goulburn this year including 12 commercial projects which include The Goulburn Marketplace Redevelopment, nine planned infrastructure projects and three key residential projects that will benefit the residents.
"Overall, this indicates a healthy balance in project development for 2021. There are more businesses and commercial services coming to market, which will create local jobs and stimulate economic growth. At the same time, residents can benefit from improved liveability conditions, and the added housing and land lots will continue to answer the high demand in the property market," Dr Mardiasmo said.
The REINSW 2021 Roadshow has visited key regional and metropolitan markets across NSW.
Meanwhile, Yfoundations, the NSW peak body for youth homelessness, is part of the initiative to educate property managers across the state about its free personalised training program called Foot in the Door. It's a professional development, training and information program connecting real estate professionals with youth and other specialist homelessness services.
There will be a networking event at Goulburn Workers Club at 1 McKell Place from 4pm.
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