Arncliffe & Southern Sydney - Media Release

Media release – date SOUTHERN SYDNEY REGION PROPERTY MARKET SET TO IMPROVE IN 2012 Dominic Mandile from First National Real Estate Simon Mandile expects the current trend of a steadying market for the Southern Sydney region is set to continue into 2012, with the market improving as the year progresses.

Mr Mandile said in the First National 2012 Property Market Outlook released this week, residential house and land prices in the Arncliffe and Southern Sydney region are expected to remain relatively flat with movements kept to below 1 per cent.

“Apartment/strata property prices are expected to trend upwards in the coming six months, with the lower end of the market still quite active,” Mr Mandile said.

The rental market should see vacancy rates tighten, trending downwards while weekly rents are expected to trend upwards, increasing by between 5 and 10 per cent as well.

Mr Mandile expects investor activity to show some growth increasing by up to 1 per cent but says it is the first home buyer segment that is expected to show the strongest growth.

Interest rates are expected to decrease by up to 1 per cent, but it is the introduction of the carbon tax and economic events in Europe and America which he expects to affect the property market the most.

- copy ends Issued by: First National Real Estate For further information or to receive a copy of the 2012 Property Outlook, Dominic Mandile, Principal from First National Real Estate Simon Mandile, on 02 9556 1388