Housing crisis front and centre as Real Estate Institute of NSW roadshow visits Tamworth

Shifts in the regional real estate markets, largely driven by the pandemic, have forced the group of research experts and property insiders on the road.

The local property industry and business representatives will be briefed on what the future holds at a forum at the Powerhouse Hotel.

According to the REA Group, the median price house in the Tamworth LGA, has risen 13 per cent over the past 12 months, while units are up 18 per cent.

Both houses and units in Tamworth have seen rents rise 6 per cent rise over the last 12 months.

REINSW CEO Tim McKibbin said between the pandemic, recent natural disasters, prevailing affordability concerns and a critical lack of rental accommodation, regional markets find themselves on a knife-edge.

"Real estate plays a critical role in propping up the state's economic health, more than any other industry, and for this to continue, there are several critical issues which must be addressed," he said.

"Everyone deserves a roof over their head but the housing crisis requires coordination from Governments at all levels.

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"Local governments have a major role to play to support new housing supply and give people choice, especially as many Sydneysiders look to establish a new life in the regions."

The REINSW team will undertake new training and education for its members and meet with local stakeholders to discuss the current real estate reforms set to shape the future of the state's largest industry.

CEO Tim McKibbin, president Peter Matthews, experts from REA Group, and four-legged ambassadors from official charity partner Assistance Dogs Australia will all be in attendance.

All money raised through the roadshow events go towards the construction of a new home for Assistance Dogs Australia in Western Sydney.

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