Stones Corner Outlook

OUTLOOK

MARCH 2016

STONES CORNER

A STRATEGIC LOCATION

Offering local retail and lifestyle amenity / Pg 02

B POPULATION GROWTH

More than 13,500 new residents are forecast within the catchment by 2036 / Pg 03

A CONTEXT ON BUSINESS, CULTURE, LIFESTYLE AND RESIDENTIAL

C INFRASTRUCTURE INVESTMENT

Stones Corner is ideally positioned to benefit from a balanced inner-city lifestyle, surrounded by a wealth of local cultural and lifestyle amenity.

HOME TO A NUMBER OF CAFÉS AND DINING OPTIONS

LOCAL CAFÉ

STONES CORNER IS NEARBY TO EXTENSIVE PARKS AND BIKEWAYS

LOCAL PARKLAND

Set to benefit from significant completed and proposed surrounding infrastructure investment / Pg 03

D RESIDENTIAL MARKET

Stones Corner’s median apartment sale price has shown steady growth over the past decade / Pg 04

E

RENTAL MARKET

1

POP

Apartments in Stones Corner are showing significant rental premiums for new and near-new product / Pg 04

DEDICATED BUSWAYS ALLOWING HIGH ACCESSIBILITY TO THE CBD

STONES CORNER BUSWAY

2

INF

3

EMP

Stones Corner accommodates all three of the Urbis economics and research fundamentals that make a sustainable suburb – Population, Infrastructure and Employment.

ACCESSIBILITY & WALKABILITY

With walkability a major component of the urban lifestyle, Stones Corner delivers with a diverse range of local lifestyle amenity offering a number of dining and retail outlets.

Residents are also just over 3km away from the Queensland Cultural Centre and South Bank Parklands, which hosts a number of lifestyle, retail, dining and commercial options.

Stones Corner

Being an inner-city suburb, Stones Corner also has the ability to leverage off substantial employment opportunities with a growing local employment base, and proximity to Queensland’s largest employment node, the Brisbane CBD.

Key Legend Entertainment, Shopping & Dining 1 Stones Corner Retail and Dining Precinct 2 Logan Road Dining Hub

Hospitals

Education

3 Aldi Shopping Centre

7 University of Queensland

4 Buranda Shopping Centre

8 Queensland University of Technology

Mater Hospital & Lady Cilento Children’s Hospital 11 Princess Alexandra Hospital

5 South Bank Cultural and Dining Precinct

9 Griffith University

12 Greenslopes Private Hospital

6 The Gabba

10

Train Station

Bus Station

5

WEST END

10

9

7 DUTTON PARK

11 4 Y RWA OTO M C I PACIF

R CO

HANLON PARK

AL NW LS TR EE T

3

GREENSLOPES

12 2

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FORECAST EMPLOYMENT

INFRASTRUCTURE

2011 JOBS

2031 JOBS

TOTAL NEW JOBS

Greenslopes, Woolloongabba & Coorparoo

28,920

51,905

22,985

Brisbane CBD

156,545

222,178

65,633

Fortitude Valley & Newstead

26,646

39,649

13,003

South Brisbane & West End

31,543

58,941

27,398

243,654

372,673

129,019

TOTAL

Prepared by Urbis; Source: NIEIR

QUEENS WHARF $3 BILLION Queen’s Wharf is set be a world-class integrated resort development with a mix of six star hotels, retail, dining, entertainment, theatre and convention uses, including a major casino. Located less than 4km from Stones Corner, the development will attract visitors and investment to Brisbane, providing a boost to Brisbane’s construction and tourism industries.

SOUTH-EAST BUSWAY $426 MILLION A bus-only corridor providing direct links from the Brisbane CBD, past Griffith University in Mount Gravatt and as far south as Eight Mile Plains. A busway station is located in Stones Corner.

CULTURAL PRECINCT

• Cultural Precinct • Gallery Of Modern Art (Goma) & Queensland Art Gallery • Queensland Museum • Queensland Performing Arts Centre (Qpac) • Brisbane Convention & Exhibition Centre • South Bank Parklands • Grey Street Retail & Dining Precinct

TRANSAPEX MASTERPLAN $10 BILLION Residents of Stones Corner are in proximity to a number of entry and exit points within the TransApex road network, which enables reduced travel times to the CBD, the Airport and south of the Brisbane River.

POPULATION & DEMOGRAPHICS WHO LIVES IN STONES CORNER

8

Aged 20-34

6

Couple Family Without Kids

2

Rented Dwellings

LOGAN ROAD DINING PRECINCT

• 22 Cafes • 54 Specialty Stores • 18 Restaurants and bars

Professionals Median Weekly Individual Income

STONES CORNER CATCHMENT

BRISBANE LGA

35% 45% 51% 35% $835

26% 38% 36% 29% $696

Note: The Stones Corner Catchment includes the suburbs of Greenslopes, Woolloongabba and Coorparoo Prepared by Urbis; Source: ABS Census 2011

HISTORICAL AND PROJECTED POPULATION STONES CORNER CATCHMENT — 2006-2036

RO AD

1

50,000

45,358

45,000

41,376 37,343

40,000 35,000 30,000

31,962 27,284

25,000 20,000 15,000

615 ADDITIONAL RESIDENTS PER ANNUM

10,000 5,000 0 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036

AN

HISTORICAL AND PROJECTED POPULATION

LO G

YEAR Note: The Stones Corner Catchment includes the suburbs of Greenslopes, Woolloongabba and Coorparoo Prepared by Urbis; Source: ABS Census 2011

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3

$415,000 $450,000

450 NUMBER OF UNIT SALES

$400,000

MEDIAN UNIT SALE PRICE

350

$350,000

300

$300,000

250

$250,000

200

$200,000

150

$150,000

100

$100,000

50

$50,000

0

MEDIAN SALE PRICE

400

$0

1985 DEC 1986 DEC 1987 DEC 1988 DEC 1989 DEC 1990 DEC 1991 DEC 1992 DEC 1993 DEC 1994 DEC 1995 DEC 1996 DEC 1997 DEC 1998 DEC 1999 DEC 2000 DEC 2001 DEC 2002 DEC 2003 DEC 2004 DEC 2005 DEC 2006 DEC 2007 DEC 2008 DEC 2009 DEC 2010 DEC 2011 DEC 2012 DEC 2013 DEC 2014 DEC 2015 DEC

Apartment affordability, a shifting age demographic, and a diminishing level of land supply in Inner Brisbane have continued to drive the Inner Brisbane apartment market.

30-YEAR UNIT SALES CYCLE – STONES CORNER CATCHMENT Dec 1985–Dec 2015

NUMBER OF SALES

RESIDENTIAL MARKET REVIEW

HALF YEAR PERIOD

Apartment projects that place an emphasis on urbanisation, work-life balance, with proximity to amenity and infrastructure will continue to be in strong demand.

Note: Stones Corner Catchment includes Greenslopes, Coorparoo and Woolloongabba Prepared by Urbis; Source: APM PriceFinder

30-YEAR UNIT SALES CYCLE – STONES CORNER CATCHMENT Dec 1985–Dec 2015

RESIDENTIAL MARKET The Stones Corner Catchment (comprising the suburbs of Greenslopes, Woolloongabba, and Coorparoo) has demonstrated consistent apartment price growth increasing by 5.0 per cent over the previous 10 years. Based on 236 settled transactions, the Catchment recorded a median apartment sale price for the halfyear ending December 2015 of $415,000, a premium of 22.4 per cent over the Brisbane LGA.

INNER SOUTH APARTMENT INSIGHTS — OFF THE PLAN

795

Sales over the 4th Qtr 2015

$22,524

Increase in weighted average sales price over the 3nd qtr 2015

STONES CORNER CATCHMENT APARTMENT INSIGHTS — OFF THE PLAN

795

Sales over the 4th Qtr 2015

Further analysis of the above median apartment sale price for the Stones Corner Catchment revealed that it was made up of a significant amount of established apartment stock. The weighted average sale price for off-the-plan apartment sales within the Catchment was recorded at $527,941 for the December quarter 2015, which is a premium of 27.2 per cent over the established market.

$636,887

Weighted Average Sales Price

$636,887

Weighted Average Sales Price

$22,524

Increase in weighted average sales price over the 3nd qtr 2015 Note: Inner South includes South Brisbane, West End, Highgate Hill, Dutton Park, Yeronga, Fairfield, Annerley, Greenslopes and Woolloongabba Note: Stones Corner Catchment includes Greenslopes and Woolloongabba Prepared by Urbis; Source: Urbis Apartment Insights Q4 2015

RENTAL MARKET The maturing of the apartment market within Brisbane has seen an increasing demand for apartments within close proximity to lifestyle amenity and the Brisbane CBD. The increasing demand and quick absorption of apartments within the Stones Corner Catchment is evident through the consistent increase in the number of bond lodgements for apartments over the past five years. The number of bond lodgements for one and twobedroom apartments over the past five years to December 2015 has increased by 17.2 per cent.

The Residential Tenancies Authority (RTA) provides median weekly rental data on typical rents for recently rented apartments based on bond lodgements, incorporating both established and new product. Based on RTA data, over the past 10 years to December 2015, one and two-bedroom apartments in the Catchment demonstrated an average annual growth rate of 3.3 per cent and 2.5 per cent respectively.

On-the-market rental data, which records advertised rents for new and near-new apartment product, indicates that all new or near-new product within the Catchment is achieving rental premiums. New one-bedroom apartments have achieved a premium of 37.1 per cent over existing stock, while twobedroom apartments recorded a premium of 21.9 per cent.

RENTAL BOND GROWTH Stones Corner Catchment — Dec 2010–Dec 2015

+ 1 & 2 BEDROOM UNITS

17.2%

increase since 2010

Note: Stones Corner Catchment includes Greenslopes, Coorparoo, Dutton Park and Woolloongabba Prepared by Urbis; Source: Residential Tenancies Authority

NEW & NEAR-NEW PRODUCT PREMIUM Stones Corner Catchment

37.1%

1 BEDROOM UNITS 2 BEDROOM UNITS

21.9%

Note: Stones Corner Catchment includes Greenslopes, Coorparoo, Dutton Park and Woolloongabba Prepared by Urbis; Source: Residential Tenancies Authority

This publication is prepared on the instruction of BlueSky and is not suitable for use other than by the party to whom it is addressed. As the publication involves projections and assumptions it can be affected by a number of unforeseen variables. The forecasts and assumptions are a prediction and whilst Urbis has made every effort to ensure that the forecasts and assumptions are based on reasonable information, they may be affected by assumptions that do not necessarily eventuate or by know, or unknown, risks and uncertainties. It should be noted that past performance is not necessarily a reliable indication of future performance. The information in the publication does not represent financial advice and should not be regarded as such. It has been prepared without taking into account your financial situation or investment objectives. You should consider the appropriateness of the information in regards to your current financial situation or needs. Urbis accepts no responsibility for the accuracy or completeness of any such material. The information is subject to change without notice and Urbis is under no obligation to update the information or correct any assumptions which may change over time. This study has been prepared for the sole use of BlueSky and is not to be relied upon by any third party without specific approval from Urbis. This publication is subject to copyright. Except as permitted under the Copyright Act 1968, no part of it may, in any form or by any means (electronic, mechanical, photocopying, recording or otherwise) be reproduced, stored in a retrievals system or transmitted without prior written permission. Enquires should be addressed to the publishers. / EMR0514

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