A few experts have been citing a recent slowdown in the hot Sydney and Melbourne real estate markets on the back of a pretty good twelve months, but a survey by RP Data shows people continue to feel good about property.
A majority of the respondents said, nationally, they felt it was a good time to buy property, although there were some variations across different centres.
Only 52.8 per cent of Sydney respondents felt that now was a good time to buy – a pretty pessimistic vibe compared to the Tasmanian respondents, 100 per cent of whom felt their time was ripe.
Overall, survey respondents felt that home values were likely to either increase or remain stable over the coming year, with just 12 per cent anticipating a fall.… but that buyer confidence is not carried across to consumer confidence in real estate agents according to the Real Estate Institute of New South Wales.
REINSW Deputy President John Cunningham says:
“Over the past 10 years the educational standards of entry into the real estate industry have been watered down to a point where agents, having completed their certificate of registration, still have no idea how to properly conduct themselves in their capacity as, what consumers consider to be, skilled professionals.”
The REINSW has met with the NSW’s Fair Trading Minister Matthew Mason to suggest self-regulation models.