‘The market never lies’: real estate industry calls for NSW to drop proposed ban on secret rent bidding

The average Sydney rent has risen more than 13% in the past year, to $711 a week. Units have surged by a record 19.1%. Photograph: Blake Sharp-Wiggins/The Guardian

A New South Wales government plan to make renting fairer and more transparent has been panned by real estate agents, who told a parliamentary inquiry that the reforms would cause conflict between applicants and property managers while driving up rents.

The industry professionals appeared before a parliamentary committee set up to examine the government’s plan to ban “secret” rent bidding, echoing concerns of rental advocates that the scheme would create rental auctions.