Real estate figures call for NSW to drop proposed ban on secret rent bidding and stop interfering with market

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Real Estate Institute of NSW warns of ‘adverse outcomes’ amid fears that rental auctions would drive up prices further

, but they are permitted to accept unsolicited offers.

“It’s an old saying that says the market never lies and the market does what the market will do. If we interfere with that then there will be adverse outcomes,” he said. McKibbin added: “If we deal with rent bidding, or we don’t, it really doesn’t matter. This is one of the points I made earlier about dealing with symptoms of the problem.”

“While I’m a believer in transparency, I just feel as though it’s going to drive prices higher and cause headaches for property managers,” she said.

 

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