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NSW Government 2020 Report Card

Date Time NSW Government 2020 Report Card The REINSW has marked the NSW Government’s role in the property market in 2020 as a ‘fail’ but has identified five key ways it could perform to an A+ standard this year. For its efforts in navigating COVID-19 and defending the health of the community, the NSW Government deserves much credit, REINSW CEO Tim McKibbin says. However, Government has ignored issues of huge importance to the property sector created by COVID-19 and failed to address matters that have plagued the industry for decades, which is extremely disappointing, he says. “Sadly, if property was a subject, the Government came up short in 2020,” Mr McKibbin says.

Year ahead: 2021 market outlook

Date Time Year ahead: 2021 market outlook Against all odds, the housing market was strong in New South Wales in 2020. The positive end to the year in terms of transactional activity and prices creates real momentum heading into the new year, says Tim McKibbin, CEO of the Real Estate Institute of NSW (REINSW). “While residential housing has been largely unaffected by COVID-19, the market is poised to play an influential role in the economic recovery,” Mr McKibbin says. Price pressures “In most locations around the state, prices ended the year higher than where they began. We expect this momentum to carry through 2021, with the fundamental supply shortage and robust demand helping to keep prices trending upwards,” he says.

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