Inner North. Property Factsheet

Inner North Property Factsheet 2nd Half 2017

*IMAGE* 6.5cm HIGH 10.6cm WIDE OVERVIEW OVERVIEW Inner North is a district of Canberra and comprises of 14 suburbs. At the 2016 census it had 21,555 dwellings housing 53,002 people, of the 397,397 people in the Australian Capital Territory. It is home to the Australian National University and the Australian Defense Force Academy. Change from Last House Sales Year Half Year House Median Price MARKET CONDITIONS The Inner North* property market recorded a median house price of $868,850 and $470,000 for units in Q3 2017, representing an annual price change of 9.8% and 13.3% respectively. Over the same period of time (Q3 2016-Q3 2017) Australian Capital Territory (ACT) median house price grew by 6.6% to $650,000 and median unit price grew by 4.8% to $440,000. This suggests that the Inner North* property market is a premium one, whereby buyers are paying more to secure their properties. That said both investors and owner-occupiers are also rewarded with higher capital growth gains. Days on market from listing to sale have seen a decrease for houses, now sitting at a lower average of 77 days in Q3 2017 (compared to 102 days 12 months ago). Vendor discount for houses has shown a slow pivot in favor of buyers over the past 12 months, to -0.4% in Q3 2017. This suggest a move towards an equilibrium, whereby there is increased affordability for buyers yet sellers are still benefiting from positive capital growth. In contrast units average vendor discount has tightened from -3.4% in Q3 2016 to -1.6% in Q3 2017, suggesting buyers are offering closer to first list asking price. Median rents in Inner North* increased over past 12 months to Q1 2017, by 14.0% to $570 per week for houses and by 7.3% to $450 for units. Vacancy rates continue to trend at a low 1.4% in October 2017, demonstrating strong rental demand in Inner North*. Investors are benefiting from a combination of low vacancy rates and yields of 3.2% (house) and 4.8% (units). AUSTRALIAN CAPITAL TERRITORY GROWTH Number of Sales 1500 1000 500 0 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 $800,000 $600,000 $400,000 $200,000 House Unit Median House Price Median Unit Price $0 Median Price House Rental Price Unit Sales Unit Median Price Unit Rental Price FUTURE DEVELOPMENTS** Inner North* is set to see approximately $595.4M of new projects commencing in the 2 nd half of 2017. Mixed use account for the majority of development value (75.8%), totaling an estimated $451.3M of projects. This is followed by residential projects, at approx. $87.7M (14.2%). It is clear that there is a focus in increasing property stock in the Inner North*, whilst exploring mixed commercial opportunities to encourage local job growth. The main mixed-use development is the Northbourne Flats Redevelopment Masterplan, which is predicted to add 883 new units into the market; including retail, café, and childcare facilities. This is local government initiative, and is scheduled to commence construction in late 2017. 2 nd half 2017 planned developments will result in a surge of housing stock hitting the market. A total of 724 apartments, 10 dwellings, and 19 townhomes are due to commence construction; spread over 16 residential and 4 mixed-use projects. This will answer Heading increasing market demand. *Inner North market data and key indicators encapsulates aggregate property market conditions in suburbs: Ainslie, Braddon, Campbell, City, Dickson, Downer, Hackett, Lyneham, O Connor, Pialligo, Reid, Russell, Turner, Watson. **Estimated values are based on construction value provided by the relevant data authority and does not reflect commercial and/or re-sale value. Quoted construction dates are estimate only, as per relevant data authority. Source: APM Pricefinder, realestate.com.au, Cordell Database.

AVERAGE VENDOR DISCOUNT* Change from Listing to Sale Price 4.0% 3.0% 2.0% 1.0% 0.0% -1.0% -2.0% -3.0% -4.0% 2.7% 0.5% 1.2% 0.7% 1.3% -1.0% -3.4% -0.9% -0.5% -0.6% -0.4% -1.6% HOUSE MARKET COMPARISON $1,800,000 House Unit Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 AVERAGE VENDOR DISCOUNT Average Average vendor vendor discount discount reflects reflects the the average average percentage percentage difference difference between between first listed first list price price and and final final sold price. A price. lower A lower percentage percentage difference difference suggests (closer buyers to zero) are suggests willing to buyers purchase are close to willing theto first purchase asking close price to the of first a property. asking price of a property. MARKET COMPARISON GRAPH KEY FACTS UNIT The market comparison graph provides comparative trend for median price of house and units over the past 10 years. Suburbs profiled are chosen based on proximity to the main suburb analysed in the factsheet, which is the ACT s Inner North. The main suburb is highlighted through a dotted black line graph. House Median Price $1,400,000 $1,000,000 $600,000 $200,000 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017* AREA XXXXXX UNIT MARKET COMPARISON $1,000,000 Turner Ainslie Reid Dickson Unit Median Price $800,000 $600,000 $400,000 $200,000 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017* Turner Ainslie Reid Dickson *2017 Comparison Data reflects Q1 2017-Q3 2017 only, quoted data represents both settled transactions (i.e. governments data) and agents advice. Source: APM Pricefinder, realestate.com.au, Real Estate Institute of Australia.

AVERAGE DAYS ON MARKET** 120 OVERVIEW HOUSE KEY FACTS Q3 2017 Average Days on Market 100 80 60 40 20 0 102 64 68 35 40 26 29 77 77 64 63 53 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 Median Sale Price: $868,850 Annual Growth: 9.8%* Average Days on Market: 63 % Change between First Listed Price and Sold Price: -0.4% KEY UNITS FACTS KEY UNIT* FACTS Q3 2017 Median Sale Price : $785,000 Annual Area Growth: 11% Median Sale Price: $470,000 Average Days on Market: 36 Annual Growth: 13.3%* % Change between First Listed Price Average Days on Market: 77 and Sold Price: -0.1% % Change between First Listed Price and Sold Price: -1.6% House Unit Overall Market Trend SALES AND MEDIAN PRICE** 180 $1,000,000 160 $900,000 140 $800,000 120 $700,000 Number of Sales 100 80 60 40 20 114 94 57 60 59 103 108 152 150 102 91 161 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 Median Price 0 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 House Sales Unit Sales Median House Price Median Unit Price $0 *Annual growth represents price growth for property transactions between Q3 2016 to Q3 2017 (inclusive). **Inner North market data and key indicators encapsulates aggregate property market conditions in the following suburbs: Ainslie, Braddon, Campbell, City, Dickson, Downer, Hackett, Lyneham, O Connor, Pialligo, Reid, Russell, Turner, Watson. Source: APM Pricefinder, realestate.com.au, SQM Research, ACT Government Development Directorate.

RENTAL MARKET ANALYSIS HOUSE UNIT 2 Bedroom 3 Bedroom 4+ Bedroom 1 Bedroom 2 Bedroom 3+ Bedroom OVERVIEW HOUSE KEY FACTS Q3 2017 Median Rent Price: $570 per week Suburb Rental Yield: 3.2% Average Days on Market: 29 Bedroom Breakdown: 1-2 Bed: 19%, 3 Bed: 52%, 4+ Bed: 32% KEY COMMENTS Interest in the Inner North* is recorded at 319 online visits per property in November 2017, a indicating a 23.3% increase over the past six months. Median rent for both houses and units have increased over the past 12 months to Q3 2017, by 14.0% and 7.3% respectively. Vacancy rates have remained at a low trend of 1.4% in October 2017, further demonstrating high rental demand. This confirms the Inner North* as an ideal area for investors looking for long-term returns. Overview UNITS KEY FACTS Q3 2017 Median Rent Price: $450 per week Suburb Rental Yield: 4.8% Average Days on Market: 26 Bedroom Breakdown: 1 Bed: 51%, 2 Bed: 29%, 3+ Bed: 20% MEDIAN RENT AND AVERAGE DAYS ON MARKET* 700 700 Number of Rentals 600 500 400 300 200 100 440 132 146 479 186 627 574 145 133 437 449 98 600 500 400 300 200 100 Median Rent ($) / Average Days on Market 0 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 Heading House Unit House Average Days Unit Average Days Median House Rent Median Unit Rent 0 *Disclaimer: Inner North market data and key indicators encapsulates aggregate property market conditions in the following suburbs: Ainslie, Braddon, Campbell, City, Dickson, Downer, Hackett, Lyneham, O Connor, Pialligo, Reid, Russell, Turner, Watson. Source: APM Pricefinder, realestate.com.au, SQM Research.

PROJECT DEVELOPMENT MAP 2 nd HALF 2017* OVERVIEW 14.2% 10.0% 75.8% Commercial Mixed Use Residential A strong focus in residential development will answer high property demand in the Inner North, providing owner-occupiers and investors high quality stock. Mixed-use developments also contribute to this, as well as providing retail and office options. Planned commercial projects will stimulate a more dynamic commerce precinct and foster local job growth. This ensures sustainable economic growth, with positive spill-over effects on the property market. This is good news for current and future residents (and investors) of Inner-North. *Disclaimer: Project development map showcases a sample of upcoming projects only, due to accuracy of addresses provided by the data provider for geocoding purposes. **Projects refers to the top developments within the suburbs of Ainslie, Braddon, Campbell, City, Dickson, Downer, Hackett, Lyneham, O Connor, Pialligo, Reid, Russell, Turner, Watson. ***Estimated value is construction costs, it does not reflect sale/commercial value. Commencement and completion date quoted is an approximate only, as per relevant data authority, Source: Cordell Database, BatchGeo, ACT Government Development Directorate.

PROJECT DEVELOPMENT TABLE 2 nd HALF 2017* Location Project** Type OVERVIEW Estimated Value*** Commence Date*** Completion Date*** 1 2 Northbourne Flats Redevelopment Masterplan (883 Units, Retail, Café, Childcare) Currong St & Allawah Court Apartment Site (515 Apartments, Community Facility, Commercial) Mixed-Use $350,000,000 11/10/2017 N/A Mixed-Use $68,341,000 26/10/2017 N/A 3 Section 96 Basement Car Park Development Commercial $56,467,000 24/08/2017 24/08/2018 4 5 6 7 8 9 10 11 12 Northbourne Avenue Apartments on Forbes (209 Apartments) Campbell Section 5 Estate Siena (60 Units, Serviced Apartments, Commercial) Mort on Morth Yamaroshi (52 Apartments, Retail, Restaurant) Torrens St Apartments Halston Residences (36 Apartments) Braddon Townhouses The Kew (15 Townhouses) Hope & Guthrie Streets Townhouses (9 Townhouses) Berrigan Crescent Apartments (11 Apartments) Dooring Street Units (13 Units) Majura Av Tonwhouses (10 Townhouses) Residential $41,025,000 25/09/2017 28/12/2018 Mixed-Use $18,365,000 06/11/2017 24/08/2019 Mixed-Use $14,606,000 18/12/2017 29/03/2019 Residential $10,896,000 10/10/2017 27/10/2018 Residential $3,880,000 06/11/2017 21/12/2018 Residential $3,411,000 18/10/2017 18/10/2018 Residential $3,226,000 25/07/2017 01/03/2018 Residential $3,215,000 27/10/2017 23/11/2018 Residential $3,106,000 26/12/2017 06/10/2018 13 Beltana Road Commercial Buildings Commercial $2,925,000 13/11/2017 31/08/2018 14 15 16 17 18 19 20 21 22 Berrigan Cr Townhouses Sorrento (8 Townhouses) McGowan Place Townhouses Grace (16 Townhouses) Blackett Street Dwellings (6 Dwellings) Dooring Street Townhouses (8 Townhouses) David St Townhouses (7 Townhouses) Blamey Crescent Townhouses (3 Townhouses) Holder Street Townhouses (6 Townhouses) Moore Street Townhouses (6 Townhouses) Macpherson Street Dwellings (4 Dwellings) Residential $2,882,000 03/07/2017 28/02/2018 Residential $2,819,000 27/11/2017 17/08/2018 Residential $1,823,000 04/12/2017 21/12/2018 Residential $1,709,000 06/09/2017 06/09/2018 Residential $1,604,000 26/12/2017 23/09/2018 Residential $1,385,000 24/07/2017 05/02/2018 Residential $1,338,000 27/10/2017 27/10/2018 Residential $1,293,000 14/11/2017 14/08/2018 Residential $1,120,000 17/10/2017 15/05/2018 *Disclaimer: Project development map showcases a sample of upcoming projects only, due to accuracy of addresses provided by the data provider for geocoding purposes. **Projects refers to the top developments within the suburbs of Ainslie, Braddon, Campbell, City, Dickson, Downer, Hackett, Lyneham, O Connor, Pialligo, Reid, Russell, Turner, Watson. ***Estimated value is construction costs, it does not reflect sale/commercial value. Commencement and completion date quoted is an approximate only, as per relevant data authority, Source: Cordell Connect Database, BatchGeo, ESRI ARC GIS, ACT Government Development Directorate.

FUTURE KEY PROJECT DEVELOPMENTS IN FOCUS* MIXED-USE PROJECTS 2 ND HALF 2017 NORTHBOURNE FLATS REDEVELOPMENT Estimated Value: $30,000,000 Type: Commercial / Aged Care Site Area: 11,814 sqm Commence Date: 03/12/2017 Completion Date: 30/04/2019 CURRONG ST & ALLAWAH COURT APARTMENTS $23.8 M Estimated Value: $130,000,000 Type: Mixed Use Development Site Area: 4,776 sqm Commence Date: 18/11/2017 Completion Date: 30/06/2020 The Northbourne Flats Redevelopment is a local government QUEEN STREET APARTMENTS initiative to increase the amount of properties available to the market, to assist in answering demand. The redevelopment is processed into six stages over six years, and will add 884 units across six eight storey towers. It will also include retail outlets, a café and childcare centre. The project is tabled to commence construction in late 2017. This mixed-use project plans to construct 515 apartments that will reside in buildings varying from three to twelve storeys. 4,100 sqm of commercial spaces and 5,800 sqm of community will be constructed, which will consist of social, cultural and retail outlets. The construction is scheduled to commence in late 2017 and planned to finish over a 3-4year period; during which it will generate hundreds of jobs over the time period. CAMPBELL SECTION 5 ESTATE - SIENA MORT ON MORT - YAMAROSHI Estimated Value: $1,800,000 Site area: 607 sqm Commence Date: 14/07/2017 Completion Date: 20/9/2018 Estimated Value: $1,900,000 Type: Commercial Site area: 9,027 sqm Commence date: 10/07/2017 Completion date: 04/07/2018 Proposed by Campbell 5 the Siena is a mixed use project of two Italian inspired buildings - a 7 storey building transitioning down to 5 storeys along Creswell Street & Kalma Way & a five storey townhouse fronting Pentland Street. It will consist of 60 dwellings with 24 serviced apartments, and a commercial area of 554 sqm. This highly anticipated new addition to Campbell is expected to be completed by mid-2019. Yamaroshi is a mixed-use project that plans to construct a four storey building comprising of ground and first floor restaurants and retail outlets, and 52 apartments to be constructed from floors four to six. The building will consist of a centrally located courtyard and a glass elevator. Yamaroshi is centrally located - 100 meters away is the city and in the other beautiful parklands. It is due for completion in early 2019, *Disclaimer: Key Project Developments featured in this page are either planned, currently in construction, or have been completed. These projects are considered to be key to Inner North area. Source: Cordell Database, Domain Database, Google Maps, Realestate.com.au Database

FUTURE KEY PROJECT DEVELOPMENTS IN FOCUS* RESIDENTIAL PROJECTS 2 ND HALF 2017 NORTHBOURNE AVENUE APARTMENTS ON FORBES Estimated Value: $41,025,000 Site Area: 5,046 sqm Commence Date: 25/09/2017 Completion Date: 28/12/2018 Construction of a nine storey apartment building containing 209 apartments which comprise of 80 one bedroom, 117 two bedrooms and twelve three bedrooms, two levels of basement car parking consisting of 325 vehicle spaces. The complex contains a residents gymnasium on the north side of the complex and a community garden on the south. TORRENS ST APARTMENTS HALSTON RESIDENCES $23.8 M Estimated Value: $10,896,000 Site Area: 1,532 sqm Commence Date: 10/10/2017 Completion Date: 27/10/2018 Demolition of the existing office building to be replaced by a construction of a four storey residential building comprising of 36 apartments consisting of one, two and three bedrooms, with a basement car park for 60 vehicles. A brisk five minute walk to multiple restaurants, supermarkets, various stores and the Braddon Rugby league park. MCGOWAN PLACE TOWNHOUSES GRACE BRADDON TOWNHOUSES THE KEW Estimated Value: $2,819,000 Site Area: 1,539 sqm Commence Date: 27/11/2017 Completion Date: 17/08/2018 Status: Firm Demolition of the three existing dwellings to reconfigure to three blocks / subdivision, in order to construct 13 two storey townhouses and three two storey townhouses to comprise of eight two bedroom and six four bedrooms. Storage for 19 vehicle parking spaces consisting of 16 residential and visitor bays located on the basement level. Estimated Value: $3,880,000 Site Area: 3,335 sqm Commence Date: 06/11/2017 Completion Date: 21/12/2019 Status: Firm Construction of 15 two storey townhouses, comprising of two one bedroom, one two bedroom and twelve three bedroom townhouses. The townhouses will feature outdoor living and car parking for 28 vehicles. Located near the Dickson s dining district and Canberra s upcoming light rail system connects The Kew to the inner city of ACT. BLACKET STREET DWELLINGS MAJURA AV TOWNHOUSES Estimated Value: $1,823,000 Site Area: 1,539 sqm Commence Date: 04/12/2017 Completion Date: 21/12/2018 Demolition of the existing dwellings and garages on two blocks of land in order to commence construction of six two storey dwellings comprising of two and three bedroom contemporary residences, with storage for 14 vehicle parking spaces. Located a short walk from the popular Dickson dining district. Estimated Value: $3,106,000 Site Area: 1,056 sqm Commence Date: 26/12/2017 Completion Date: 06/10/2018 Demolition of the existing dwellings and construction of ten two storey townhouses comprising of four three bedroom and six two bedroom apartments. With basement car parking for 14 vehicles and a BBQ area and communal spaces. Located near local cafes, stores, parks, multiple schooling options and public transport with a commencing light rail. *Disclaimer: Estimated value is the value of construction costs provided by relevant data authority, it does not reflect the project s sale/commercial value. Commencement date quoted for each project is an approximate only, as provided by the relevant data authority, PRDnationwide does not hold any liability to the exact date in which each project commences and/or is completed. Source: Cordell Database, Domain Database, RealEstate.com.au Database, All Homes Database.

FUTURE KEY PROJECT DEVELOPMENTS IN FOCUS* RESIDENTIAL PROJECTS 2 ND HALF 2017 DOORING STREET TOWNHOUSES Estimated Value: $1,709,000 Site Area: 1,030 sqm Commence Date: 06/09/2017 Completion Date: 06/09/2018 Demolition of the existing dwellings in order to construct eight two storey townhouses to comprise of eight three bedrooms. With storage for 18 vehicles to consist of 16 residential car parks and two visitor bays. Located five minutes away from the Dickson dining district and a brisk walk to the commencing light rail public transport system. BERRIGAN CRESCENT APARTMENTS $23.8 M Estimated Value: $3,226,000 Site area: 1,301 sqm Commence Date: 25/07/2017 Completion Date: 01/03/2018 Status: Commenced Demolition of the existing two dwellings and a reconfiguration of the two existing blocks in order to construct a three storey residential building with 11 apartments to comprise of three one bedroom, six two bedroom and two three bedroom apartments. Located close to Jandura Park, St Joseph s Catholic Primary School, and Wattle Early Childhood Centre. DOORING STREET UNITS BLAMEY CRESCENT TOWNHOUSES Estimated Value: $3,215,000 Site area: 1,620 sqm Commence date: 27/10/2017 Completion date: 23/11/2018 Status: Firm Construction of a two storey building with three one bedroom, eight two bedroom and two three bedroom units. With car parking for 23 vehicles consisting of 18 residential parks at basement level, two residential parks at ground level and three visitor bays located on the street. Located near various stores and restaurants. Estimated Value: $1,385,000 Site Area: 1,000 sqm Commence Date: 24/07/2017 Completion Date: 05/02/2018 Status: Commenced Demolition of the existing building in order to construct three townhouses that will be two storeys and comprising of three bedrooms and two bathrooms, with basement garage parking for vehicles. Within a one kilometer radius of exciting landmarks / attractions such as the Mount Pleasant Nature Reserve and the Australian War Memorial. DAVID ST TOWNHOUSES HOPE & GUTHRIE STREETS TOWNHOUSES Estimated Value: $1,604,000 Site area: 1,347 sqm Commence Date: 26/12/2017 Completion Date: 23/09/2018 Demolition of the existing structure in order to construct seven townhouses that will be two storeys and comprising of three bedrooms per townhouse. There will also be vehicle storage for 14 vehicles in double garages. In the vicinity of a one kilometre radius consists of multiple parks, various public transport systems and the Dickson s dining district. Estimated Value: $3,411,000 Site Area: 1,691 sqm Commence Date: 18/10/2017 Completion Date: 18/10/2018 Proposed demolition of the existing single storey dwelling and to commence a construction of four two storey and five three storey townhouses; to comprise of seven three bedroom and four two bedroom townhouses. Car parking for 21 vehicles to include 18 residential and three visitor bays. Within a five minute walk from multiple restaurants and various stores. *Disclaimer: Estimated value is the value of construction costs provided by relevant data authority, it does not reflect the project s sale/commercial value. Commencement date quoted for each project is an approximate only, as provided by the relevant data authority, PRDnationwide does not hold any liability to the exact date in which each project commences and/or is completed. Source: Cordell Database, Domain Database, Google Maps.

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