Media release - 8^th August, 2013

Infrastructure investments set to spark buyer activity in Sydney's north-west

Leading Australian real estate group, Raine & Horne, has confirmed its long-term commitment to commuter belt suburbs Bella Vista and Glenwood in Sydney’s north-west, with the launch of a real estate office led by top selling agent Emmanuel Fardouly.

Mr Fardouly has worked in the Glenwood, Bella Vista, Stanhope Gardens and The Ponds real estate markets since 2001, and is delighted to again be linking with Raine & Horne, a brand he’s been connected with for the majority of his real estate career.

Emmanuel Fardouly Apart from being a Hills District real estate specialist, Mr Fardouly is a regular record breaker, having achieved the highest sale in Glenwood in 2009, 2010, 2011 and 2012.

“I’m excited by the opportunity to be starting my own business and delighted that I’m starting the journey with a brand I have worked with for the best part of seven years,” said Mr Fardouly, a former student of Hills Grammar School, Kenthurst.

“The fact that Raine & Horne is a family business, which has been respected in Bella Vista and Glenwood for over a decade, also appeals to me.”

With hundreds of offices worldwide, the market reach of the Raine & Horne network will also prove a big attraction for homeowners considering the sale of a Bella Vista or Glenwood property.

“I like the fact that people who have moved from other states often tell me that Raine & Horne sold their property and they’d like me to find a home in Bella Vista or Glenwood for them,” said Mr Fardouly.

Establishing the business to service the real estate needs of consumers in the Hills District was also a simple decision for Mr Fardouly.

“Since day one I have worked as a real estate agent in this area, and buyers and sellers know me.

“I have an established reputation and people list their homes for sale with me, as they know I care about the selling price they can achieve.”

With the traditional Spring selling market fast approaching, Mr Fardouly says listings are significantly fewer than normal, while buyer enquiries have doubled.

“At the end of July, for example, there were 33 properties listed for sale in Glenwood on the main real estate websites, compared to about 100 at the same time the previous year,” he said.

“On the demand side, the numbers of groups at open homes are double what they were at the end of July 2012.”

Mr Fardouly suggests the major infrastructure investments in the region and record low interest rates are responsible for the spike in buyer activity.

“In Bella Vista we have the Norwest Business Park which accommodates over 20,000 employees, with plans to expand worker numbers to 35,000,” said Mr Fardouly.

“Plenty of people work at the business park and then live in Glenwood, which is the next most affordable suburb.”

The construction of the $8.3 billion North West Rail Link is also underway and is set to open at the end of 2019.

The plans for the North West Rail Link include 15 kilometres of tunnels between Bella Vista and Epping, which Mr Fardouly estimates will help cut city commutes significantly.

“For those who currently prefer driving to the city, the new rail link could cut the commute by 30-40 minutes,” says Mr Fardouly.

Despite the North West Rail Link still being six years from completion, Mr Fardouly says infrastructure investment is already having an impact, with real estate values for entry level three bedroom homes in Glenwood breaching the $500,000 ceiling.

“Given the plans for the Norwest Business Park and the North West Rail Link, capital values have improved in Glenwood by 4 to 5% since December,” said Mr Fardouly.

“I’d expect growth consistent with this, and potentially more, as we move closer to the opening of the North West Rail Link in 2019.”

Angus Raine, Executive Chairman and CEO of Raine & Horne, says he is excited that Mr Fardouly is re-establishing the Superbrand’s presence in Bella Vista, Glenwood and surrounding suburbs.

“We are very fortunate to have an expert operator such as Emmanuel at the helm of Raine & Horne Bella Vista/Glenwood, given his local knowledge and long-standing association with the Raine & Horne brand,” said Mr Raine.

“Emmanuel is the epitome of a local real estate agent, who has a strong commitment to the community and I look forward to working with him and the team at Raine & Horne Bella Vista/Glenwood.”

For all your sales and property management needs, in Bella Vista and Glenwood, contact Raine & Horne Bella Vista/Glenwood on 0405 322 222.

-ENDS-

For further media information contact:

Emmanuel Fardouly, Principal, Raine & Horne Bella Vista/Glenwood on 0405 322 222

Angus Raine, CEO, Raine & Horne on 0409 920 697

Andrew Harrington, National Marketing & Communications Coordinator on 02 9258 5400

Raine & Horne renews commitment to Bella Vista and Glenwood