THERE was one overwhelming consensus among the dozens of real estate agents gathered in Tamworth on Tuesday - there just isn't enough property to go around.
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Demand outstripping supply is the number one issue impacting the local market, driving up prices and putting extreme pressure on owner-occupiers and renters.
It's a problem the Real Estate Institute of NSW (REINSW) is hoping to draw more attention to on its roadshow across the regions, which stopped in Tamworth to receive feedback from local agents.
REINSW CEO Tim McKibbin said all three levels of government have a role to play when it comes to housing affordability, and right now there's too much focus on putting money into people's pockets, and not enough on ramping up supply.
"There is a lot of pressure on regional NSW, and certainly Tamworth and Armidale, for people seeking to buy or rent a property," he said.
"The reality of that is that we just need more properties, and that is a significant problem for this community to be able to respond to that."
He said while it's great housing affordability is finally on the government's agenda, the solutions put forward are not going to solve the issue.
"The solutions put forward are to put it into the hands of people, first home buyers for example, through the access to more money, which means it will increase the power of people to buy property," he said.
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"All that's going to do is to drive prices up. Increasing demand is not going to solve a supply problem. We just need more property."
The difficulty developers have maneuvering their way through the approval process with local councils is also putting pressure on the market, Mr McKibbin said.
"It doesn't matter where you go in NSW, the process is convoluted, and expensive, and consumes an enormous amount of time," he said.
"And all of those factors put together drive prices up, and inhibit supply."
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.
Mr McKibbin said taxes and charges levied across all three levels of government is also a major factor, inflating property prices by more than 40 per cent.
"Our state government has earned over $12 billion this year in stamp duty," he said.
"We talk about earning $12 billion, and then talk about housing affordability. So clearly the price of property across NSW has been inflated by $12 billion dollars.
"The local council also makes a lot of money, and also the federal government on new property, they're making GST.
"Then in the same breath, they talk about housing affordability, and you struggle to reconcile both of those issues."
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