REIT president Russell Yaxley. Picture: Sue Bailey
HE is a man of many hats.
You may know him as Glenorchy’s deputy mayor, a leading real estate agent, a family man and a sports fanatic. Now, he’s taken on the president position at the Real Estate Institute of Tasmania.
Russell Yaxley — director and agent at Hobart estate agency, View Tasmania — is set to bring a forward-thinking vision and a strong commitment to improving the industry to his new role.
Mr Yaxley’s journey into real estate began nearly a decade ago.
Prior to this, his skills and experience came from a diverse range of roles in digital real estate products, newspaper advertising, small business and various sales positions.
“I’ve held several leadership and sales roles, but I found my true passion in real estate,” he said.
“I quickly transitioned into business ownership, leading successful teams and striving to learn more.
“My strong goal has always been to contribute meaningfully to the industry’s growth and image improvement.”
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Russell Yaxley.
After serving for four years on the Southern Branch Committee of the REIT, Mr Yaxley was elected to the state board three years ago. When the opportunity arose to step into the role of president, he knew it was the right time.
“The REIT has a remarkable history of supporting our industry, built on strong and stable leadership from past presidents and Board members,” he said.
Mr Yaxley has high praise for the immediate past president, Michael Walsh.
“Michael’s contribution as president was immense. He led us through some challenging times, always encouraging and giving above and beyond the call, which we are now the better for,” Mr Yaxley said.
“I’m excited to continue that legacy, fostering the real estate industry’s growth and evolution for the future.”
Addressing the current real estate climate, Mr Yaxley observed: “In residential sales, we’ve seen a welcome increase in supply after some lean periods, with prices remaining steady.
“Now may well be an opportune time to buy because with anticipated interest rate reductions, competition is more than likely to heat up again.
“This spring has already brought an uptick in attendance at open homes and properties are certainly selling somewhat quicker than earlier in the year.”
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As for the rental market, Mr Yaxley acknowledged ongoing challenges.
“The rental market remains balanced though, with a shortage of available homes, rents have adjusted downward slightly,” he said.
“Recent uncertainty around government taxation policies and investor confidence has led to some property owners exiting the market.
“We must work to keep property investment attractive as strong investor activity benefits not just the market but tenants as well.
“We need more homes available for rent to ensure a healthy balance for tenants and property owners alike.”
Mr Yaxley is enthusiastic about the future.
He said Tasmania’s real estate industry is vibrant and full of opportunity.
“The REIT will continue to play a vital role in supporting our members and helping the industry to thrive and improve. With REIT’s 75th birthday next year, we have plenty to look forward to,” he said.
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