AROUND 42,000 new properties need to be built each year to overcome the housing crisis in NSW.
That's according to Real Estate Institute of NSW's (REINSW) CEO Tim McKibbin who briefed industry representatives on the current real estate landscape during the REINSW Roadshow at Newcastle Exhibition and Convention Centre (NEX) on Tuesday.
The housing crisis was a focus issue for Mr McKibbin who said that government leaders must take action to address Australia's housing crisis in order to tackle the problem.
He said too much attention is paid to populist politics around issues such as rent freezes and first-home buyer stamp duty cuts.
"We need to take the populist politics out of this whole discussion and we need to focus on getting more property into the market," he said.
"There is a role to play for all three levels of government, there is a role to play for industry to be in there and collectively to take on the core problem which is that there is a shortage of property.
"I think, to some extent, we have become desensitised to all of this.
"Every time you turn on the TV someone says 'rental crisis' and it's the same as what it was yesterday."
Mr McKibbin led discussions alongside Lachlan Malloch from NSW Fair Trading and real estate lawyer Kristen Porter before an audience of around 50 real estate industry professionals.
Also delving into legislative changes in agency practice, consumer expectations and agent challenges, Mr McKibbin described the housing crisis as a "real issue both socially and economically", adding that Newcastle was not exempt from the difficulties of securing a property whether as an owner or renter.
"We have people on a regular basis, in places like Newcastle, where you land your dream job and then have to find somewhere to live but you can't find anywhere to live, so you can't take the job," he said.
"You only have to look when there's an open house and there is a huge line up down the street.
"There is something fundamentally wrong with the system."
