PROPERTY FACTSHEET PROPERTY WATCH REPORT GOLD COAST Surfers Paradise PENRITH Fourth Quarter 2nd QUARTER 2015
MARKET OVERVIEW KEY FACTS OVERVIEW AVERAGE DAYS ON MARKET 140 House House trend Average Days 120 100 Unit Unit trend 80 60 40 20 0 2015 AVERAGE VENDOR DISCOUNT Vendor Discount 10.0% House House trend Unit Unit trend Average days on market have trended down over the past 24 month period HEADING houses now average 24 days on market and units average just 16 days on market. 5.0% 0.0% -5.0% The Penrith local property market has Unum scessu quam tuam obus, shown strong growth in recent years. diissero pubi senatia Scia Ifecons cerehen nonde The pastiamditilnem 24 months has concust seen both erunique rehem am Romnenterdiu house median prices up 20.1%, and menatque cae crumup convess unit median prices 16.2%.essenti lnerfec tamenem popteridena, quit. The same period has shown a strong increase in sale volumes, suggesting Omnesicia Alari sultorunum num es that median price growth has resulted iussuli befactem fac vir ina, que perid form new housing supply stimulating nes nero prit. Maiost iaes hi, conicae demand. trati, ta ret; iaete orununt iliissendam. Price growth hasfac been matched by an iussuli befactem vir ina, que perid upward omperena, trend in the houseilissen list-to-sale Dierum peremei price, as vendorsediscount continues terraed emendies ipior in tam pro. climbing into positive territory the House average list-to-sale price is now at +5.2% above the listed price, while the average unit list-to-sale price is currently at +8.8%. 2015 These trends suggest that buyers are competing to secure their property, and are willing to offer above the first list asking price. 10 YEAR CAPITAL GROWTH Median Price $500,000 House sales House median House trend 120 Unit sales Unit median Unit trend $528,883 100 $400,000 $349,442 80 $300,000 60 $200,000 40 $100,000 20 $0 2005 Source: APM PriceFinder 2006 2007 2008 2009 2010 2011 2012 0 2015 Sale Volume $600,000
KEY FACTS INVESTMENT ANALYSIS Penrith average rental yields are estimated at 4.2% for houses and 4.8% for units returns are relatively higher than the estimated rental yields for Sydney Metro Region. QUARTERLY RENTAL PERFORMACE Median rent p.w. Annual change $500 $400 2.1% 2.5% 0.0% $300 $200 $300 2.0% $485 $400 $350 1.5% 1.0% $100 $0 3.5% 3.0% 2.6% 2.9% Median Rent 4.0% 0.5% 1 Bedroom 2 Bedroom 3 Bedroom 4 Bedroom 0.0% Annual Change $600 Two bedroom rentals showed the greatest average annual change in median rent, up by 2.9%; while four bedroom rentals commanded the greatest median rent at $485 p.w. Local area population growth is predicted to increase at an annual average rate of 1.7%, which is well above the 1.2% NSW predicted growth rate. $459M of new developments are slated for the first half of 2015 indicating sustainable future investments in the local area. PROPERTY CLOCK POPULATION GROWTH Count of Persons 530,000 430,000 330,000 230,000 130,000 30,000 Blacktown City Council Penrith City Council Liverpool City Council 2011 2016 2021 2026 Penrith Sydney 2031 TOP 5 NEW PROJECTS 1st HALF 2015 ESTIMATED RENTAL YIELD Thornton Central Mixed use development: $16.65M, 68 units South Penrith House Rental Yield Penrith 4.2% 4.9% 4.6% National Rugby League Academy Penrith Panthers: $9M Jamisontown 5.1% 4.8% Glenmore Park 4.0% 4.5% 4.3% Cranebrook 5.1% 4.8% Kingswood 4.0% 4.8% 4.5% 4.3% 3.8% Werrington Arterial Road Corridor: $39.31M Jordan Springs Subdivision: $7.4M, 203 residential lots Plasser Australia - Industrial development: $7M Heading 4.3% Cambridge Park Sydney Metro Source: NSW Department of Housing, APM PriceFinder, Cordell Database, Penrith City Council 3.2% Unit Rental Yield Average
PENRITH OVERVIEW MEDIAN RENT LAST 12 MONTHS KEY FACTS Price dynamics in the Penrith local property market are strongly location dependent. Price hot spots were located at notable high value locations such as Emu Heights, Emu Plains, Leonay, and Glenmore Park. These areas consistently recorded median prices above $600K, higher than the Penrith local median of $588K. More generally, house prices ranged from less than $400K in North St Marys, and averaging $500K across the Penrith local area. Cambridge Park, Werrington, and Claremont Meadows were more affordable suburbs, with prices consistently recorded below the Penrith median house price. Penrith weekly rent prices have ranged between $100 and $500 per week; more affordable options were typically located in the areas older neighborhoods, such as Cambridge Park and North Kingswood. PRICE HOT SPOT LAST 12 MONTHS Source: APM PriceFinder, Australian Bureau of Statistics, OpenStreetMap
ABOUT PRDnationwide RESEARCH PRDnationwide s research division provides reliable, unbiased, and authoritative property research and consultancy to clients in metro and regional locations across Australia Our extensive research capability and specialised approach ensures our clients can make the most informed and financially sounds decisions about residential and commercial properties. OUR KNOWLEDGE Access to accurate and objective research is the foundation of all good property decisions *IMAGE* 7.6cm HIGH 6cm WIDE As the first and only truly knowledge based property services company, PRDnationwide shares experience and knowledge to deliver innovative and effective solutions to our clients. We have a unique approach that integrates people, experience, systems and technology to create meaningful business connections We focus on understanding new issues impacting the property industry; such as the environment and sustainability, the economy, demographic and psychographic shifts, commercial and residential design; and forecast future implications around such issues based on historical data and fact. OUR PEOPLE Our research team is made up of highly qualified researchers who focus solely on property analysis Skilled in deriving macro and micro quantitative information from multiple credible sources, we partner with clients to provide strategic advice and direction regarding property and market performance. We have the added advantage of sourcing valuable and factual qualitative market research in order to ensure our solutions are the most well considered and financially viable. Our experts are highly sought after consultants for both corporate and government bodies and their advice has helped steer the direction of a number of property developments and secured successful outcomes for our clients. OUR SERVICES Our research team is made up of highly qualified researchers who focus solely on property analysis We have the ability and systems to monitor market movements, demographic changes and property trends. We use our knowledge of market sizes, price structure and buyer profiles to identify opportunities for clients and provide market knowledge that is unbiased, thorough and reliable. For further details contact: Darren Latty Principal T 02 4761 6208 M 0414 620 532 E darren@prd.net.au PRDnationwide Penrith 379 High Street, Penrith NSW 2750 www.prd.net.au Prepared by PRDnationwide Research: Thomas Doyle Research Analyst PRDnationwide National Franchise Services T 07 3026 3357 E thomasdoyle@prd.com.au prdnationwide.com.au/research Heading PRDnationwide does not give any warranty in relation to the accuracy of the information contained in this report. If you intend to rely upon the information contained herein, you must take note that the Information, figures and projections have been provided by various sources and have not been verified by us. We have no belief one way or the other in relation to the accuracy of such information, figures and projections. PRDnationwide will not be liable for any loss or damage resulting from any statement, figure, calculation or any other information that you rely upon that is contained in the material. Prepared by PRDnationwide Research All medians and volumes are calculated by PRDnationwide Research. Use with written permission only. All other responsibilities disclaimed. Graphs and tables prepared by PRDnationwide Research. Source: PriceFinder, Cordell, ABS
TO FIND OUT MORE Contact one of our National Franchise Services Queensland 32 36 Doggett Street, Newstead QLD 4006 GPO Box 2750 Brisbane QLD 4001 P 07 3229 3344 F 07 3221 7744 E brisbane@prd.com.au Victoria 51 Lydiard Street, South Ballarat VIC 3350 PO Box 540 Ballarat VIC 3350 P 03 5331 1111 F 03 5331 5778 E victoria@prd.com.au New South Wales Level 7, 10 Help Street, Chatswood NSW 2067 GPO Box 2750 Brisbane QLD 4001 P 02 9947 9160 F 02 9947 9163 E sydney@prd.com.au Tasmania 493 Main Road, Montrose TAS 7010 PO Box 335 Glenorchy TAS 7010 P 03 6273 5555 F 03 6273 0825 E tasmania@prd.com.au www.prdnationwide.com.au