New South Wales Outlook The NSW property market is expected to steady fur ther over the remainder of 2011, on the back of an already steadying, and in some cases falling, market over the first half of the year. Housing affordability, the threat of interest rates increasing, and improved lending criteria from major banks will help steady the market in the coming six months. The First National Proper ty Market Outlook Mid-Year Sur vey shows 55 per cent of NSW member respondents said they anticipated the market to steady even further in the coming six months, 28.5 per cent said they thought it would fall and 16.3 per cent said they believed it would rise. Property Prices In the main, property prices across all segments (house, apartment/strata and land) are expected to remain flat, with any movements kept to a minimum of between 1 and 5 per cent. The majority of NSW survey respondents (55 per cent) said house prices would remain flat, 22.4 per cent said they would fall and 22.6 per cent said they would trend upwards. It is a similar picture for apartment/strata and land prices where 26.2 per cent and 20.8 per cent respectively said they would trend upwards, 15.2 per cent and 16.6 per cent respectively said they would trend downwards and 56.5 per cent and 62.5 per cent respectively said they expected them to remain flat.
18 First National Real Estate 2011 Property Market Outlook