Gar50 urbis report newmarket web

MARKET OUTLOOK NEWMARKET A vibrant residential area surrounded by an abundance of lifestyle amenity, education and employment hubs makes Newmarket an ideal place in which to live, work and play.

Connectivity & Accessibility 02 Infrastructure 02 Demographics 02 Education 03 Employment 03 Residential & Rental Analysis 04 Prepared exclusively for

Your Style Homes November 2016

Top: Local retail amenity; Bottom left: Wilston State School; Bottom right: Recreational amenity

CONNECTIVITY & ACCESSIBILITY

Wilston

Herston

Newmarket is widely regarded as a desirable residential area, driven by its accessibility and variety of amenity.

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Newmarket is a thriving suburb located 5 kilometres from the Brisbane CBD. In less than 15 minutes residents can reach Brisbane CBD and other major precincts via Brisbane rail services from Newmarket train station or the road network. With continued investment into Brisbane’s transport infrastructure, Newmarket’s accessibility to the Brisbane CBD will only continue to improve.

Known for its local schools and the nearby Queensland University of Technology at Kelvin Grove, the Newmarket area is ideal for young professionals and families. Newmarket is a tightly held residential area providing residents with a host of lifestyle amenities, including numerous cafés, restaurants and boutique specialty shops, plus large parks, picnic areas, bike trails and walking paths.

INFRASTRUCTURE

16 07 15 04 14 Newmarket Train Station

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HERSTON QUARTER REDEVELOPMENT $1.1 billion — Planned

The Herston Quarter redevelopment will create a landmark Brisbane destination and a global benchmark for health precincts. The redevelopment will consist of a 132-bed public specialist rehabilitation and ambulatory care centre, a new private hospital, restoration and conversion of heritage buildings to student accommodation, aged care and retirement living, residential accommodation, commercial offices, childcare facilities, retail and restaurant facilities and associated amenity.

UNIVERSITY OF QUEENSLAND — ORAL HEALTH CARE CENTRE $134 million — Complete The University of Queensland’s Oral Health Care Centre is Australia’s largest and most advanced tertiary oral health facility.

BALLYMORE REDEVELOPMENT STAGES 1–5 $50 million — Planned The redevelopment of Ballymore will provide a new sports academy and community health and fitness centre.

UNIVERSITY OF QUEENSLAND — HERSTON IMAGING RESEARCH FACILITY $24 million — Complete Opened in December 2015, the Herston Imaging Research Facility is one of Australia's only facilities devoted entirely to clinical research and is located within Australia's largest hospital precinct.

TRANSAPEX $10 billion — Complete BRISBANE METRO $1.5 billion — Proposed CROSS RIVER RAIL — Proposed Prepared by Urbis; Source: Cordell Connect 2

Market Outlook Newmarket

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DEMOGRAPHICS The Newmarket Catchment has a large proportion of Generation Y residents who prefer low-maintenance living in a thriving location.

WHO LIVES IN NEWMARKET?

Newmarket Catchment

Brisbane LGA

Average age of residents

34

36

Couple family (no children)

35.6%

37.0%

Employed as professionals & managers

51.9%

34.4%

Gen Y residents (20–34)

29.0%

22.4%

Rented dwellings

41.3%

33.7%

Prepared by Urbis; Source: ABS Census 2011 Note: Newmarket Catchment includes the suburbs of Ashgrove, Herston, Kelvin Grove, Newmarket and Wilston.

Brisbane CBD

Kelvin Grove

Ashgrove

ENTERTAINMENT, SHOPPING & DINING

12

18

01 Reading Newmarket Shopping Centre

08

06

02 Newmarket Hotel KE

LVI N

G RO VE

13

04 Homezone Windsor

RO

05 Aldi Kelvin Grove

AD

05

03 Enoggera Road Shops

06 Kelvin Grove Urban Village 07 Ballymore Stadium

Newmarket

NEWMARKET ROA

01 D

08 Suncorp Stadium 02

09

INFRASTRUCTURE & EMPLOYMENT

03

09 Newmarket Medical Centre 10 Royal Brisbane and Women’s Hospital RECREATION & GREEN SPACE

EN O G

11 12 13 14 15 16 17

G ER

AD A RO

17 19

Newmarket Olympic Pool Victoria Park Golf Course Spencer Park McCook Park Finsbury Park Downey Park Bank Street Reserve

EDUCATION

18 Queensland University of Technology 19 Newmarket State School 20 Wilston State School

EDUCATION

EMPLOYMENT

PRIMARY, SECONDARY AND TERTIARY EDUCATIONAL INSTITUTIONS Newmarket Catchment

Located less than 5 kilometres from Queensland’s largest employment node, the Brisbane CBD, the Newmarket Catchment is expected to benefit from an additional 66,655 new jobs by 2031.

Queensland University of Technology, Kelvin Grove

10,741 STUDENTS Five Public Schools

The Newmarket Catchment alone is expected to provide an additional 7,657 new jobs by 2031, increasing by 1.8 per cent per annum over the next 15 years.

PROJECTED EMPLOYMENT GROWTH 2016–2031 7,657

1.8% per annum

Bowen Hills, Fortitude Valley & Newstead

15,978

2.0% per annum

Five Private Schools

Brisbane CBD & Spring Hill

43,020

1.3% per annum

Prepared by Urbis; Source: Department of Education and Training, Queensland University of Technology, St Ambrose’s Primary School, Marist College Ashgrove, Mt St Michael’s College, St Finbarr’s Ashgrove, St Columba’s Primary School.

TOTAL NEW JOBS

66,655

1.5% per annum

Prepared by Urbis; Source: NIEIR Employment Forecasts

Note: Newmarket Catchment includes the suburbs of Ashgrove, Herston, Kelvin Grove, Newmarket and Wilston.

Note: Newmarket Catchment includes the suburbs of Ashgrove, Herston, Kelvin Grove, Newmarket and Wilston.

4,183 students

3,505 students

Newmarket Catchment

Job Growth

Prepared exclusively for Your Style Homes

3

New apartments New apartmentsgenerally generallycommand commandaarental rental premium over established apartments. premium over established apartments.

Unsurprisingly, Unsurprisingly,this thisappears appearsto tobe bethe thecase casefor for the Newmarket the NewmarketCatchment Catchmentapartment apartmentmarket. market.

The Residential The ResidentialTenancies TenanciesAuthority Authority(RTA) (RTA)provides provides median median weekly rental weekly rentaldata datafor forboth bothestablished establishedand andnew newapartments, apartments, based ononnew based newbond bondlodgements. lodgements.According Accordingto toRTA RTAdata, data, the the median weekly median weeklyrent rentfor forthe theNewmarket NewmarketCatchment Catchmentincreased increased byby 5.0 and 5.0 and3.8 3.8per percent centper perannum annumfor fortwo twoand andthree-bedroom three-bedroom apartments apartmentsrespectively respectivelyover overthe thepast past10 10years yearsto toJune June 2016.

2016.

On-the-market(OTM) (OTM)data datacompiled compiledby byUrbis Urbisfor fornew new On-the-market and near-newapartments, apartments,indicates indicatesnew newapartments apartments and near-new are registeringpremiums premiumsover overthe theexisting existingproduct. product. New New are registering and near-newtwo-bedroom two-bedroomapartments apartmentsrecorded recorded aa and near-new medianweekly weeklyrent rentofof$490, $490,aa36.1 36.1per percent centpremium premium median over establishedproduct. product.Similarly, Similarly,three-bedroom three-bedroom over established apartmentsalso alsoachieved achievedaapremium premiumof of26.4 26.4per per apartments cent, registering a median weekly rent of $550. cent, registering a median weekly rent of $550.

With a strongproportion proportionofofGeneration GenerationYYresidents, residents, With a strong paired withtheir theirdesire desiretotolive liveininlow-maintenance low-maintenance paired with dwellings,the theNewmarket NewmarketCatchment’s Catchment’snew newapartment apartment dwellings, product will likely continue to rent at premium prices. product will likely continue to rent at premium prices.

140 120

$1,000,000 $900,000 $1,000,000 $815,000 $900,000 $800,000 $815,000 $700,000 $800,000 $600,000 $700,000

120 100 100 80

$500,000 $600,000 $480,000 $500,000 $400,000 $480,000 $300,000 $400,000

80 60 60 40

$200,000 $300,000

40 20

$200,000 $100,000

200

$100,000 $0

0

$0

Period (quarterly) Period (quarterly) Prepared by Urbis; Source: APM PriceFinder Prepared Urbis; Source: APM PriceFinder Note: Theby Newmarket Catchment includes the suburbs of

Note: The Newmarket Catchment includes the and suburbs of Ashgrove, Herston, Kelvin Grove, Newmarket Wilston.

Ashgrove, Herston, Kelvin Grove, Newmarket and Wilston.

AVERAGE ANNUAL UNIT GROWTH RATE AVERAGE ANNUAL UNIT RATE Newmarket Catchment vsGROWTH Brisbane LGA Newmarket June 2016 Catchment vs Brisbane LGA June 2016 5-year 5-year

10-year 10-year

Newmarket Catchment Newmarket Catchment unit price price growth growth unit

2.2% 2.2% PER ANNUM

3.7% 3.7% PER ANNUM

Brisbane LGA LGA Brisbane unit price growth unit price growth

1.9% 1.9%

3.1% 3.1%

PER ANNUM

PERANNUM ANNUM PER

PER ANNUM

PER ANNUM PER ANNUM

Prepared by byUrbis; Urbis;Source: Source:APM APMPriceFinder PriceFinder Prepared

EXISTING PRODUCT PRODUCTVS. VS. EXISTING ON-THE-MARKETAPARTMENT APARTMENTPRODUCT PRODUCT ON-THE-MARKET NewmarketCatchment Catchment— —June June2016 2016 Newmarket RTA RTA

OTM OTM

$360 $360

36.1% $490 $490 36.1% PREMIUM PREMIUM

$435 $435

$550 26.4% $550 26.4% PREMIUM PREMIUM

Prepared Prepared by byUrbis; Urbis;Source: Source:Residential ResidentialTenancies Tenancies Authority, Authority, Realestate.com.au Realestate.com.au

Note: RTA data is based on the Newmarket postcode which includes Note: RTA data is based on the Newmarket postcode which includes the suburbs Alderley, Enoggera, Gaythorne, Grange, Newmarket the suburbs Alderley, Enoggera, Gaythorne, Grange, Newmarket and Wilston. The on-the-market data is based on the suburbs of and Wilston. The on-the-market data is based on the suburbs of Ashgrove, Herston, Kelvin Grove, Newmarket and Wilston.

Ashgrove, Herston, Kelvin Grove, Newmarket and Wilston.

This publication is prepared on the instruction of YSH022 Pty Ltd and is not suitable for use other than by the party to whom it is addressed. As the publication involves projections and This publicationitiscan prepared on the ofunforeseen YSH022 Pty Ltd and The is not suitableand for use other thanare byathe party toand whom it isUrbis addressed.

As every the publication involves projections andand assumptions be affected byinstruction a number of variables. forecasts assumptions prediction whilst has made effort to ensure that the forecasts assumptions it can affected by a number of unforeseen variables.

The forecasts and assumptions are a prediction and whilst Urbis has made every effort ensure that the forecasts and assumptions are be based on reasonable information, they may be affected by assumptions that do not necessarily eventuate or by known, or unknown, risks andto uncertainties.

It should be noted assumptions are based onisreasonable information, may be by assumptions that do not necessarily eventuate or by known, or unknown, risks and uncertainties.

It should noted that past performance not necessarily a reliablethey indication ofaffected future performance.

The information in the publication does not represent financial advice and should not be regarded as be such. that pastbeen performance is not necessarily reliableyour indication of future performance.

The information the publication does not represent of financial advice and should not be regarded as such.

It has prepared without taking intoaaccount financial situation or investment objectives.

Youinshould consider the appropriateness the information in regards to your current financial It has been prepared takingno into account your situation or investmentofobjectives.

You should theis appropriateness of without the information in regards to yournocurrent financial situation or needs. without Urbis accepts responsibility forfinancial the accuracy or completeness any such material.

Theconsider information subject to change notice and Urbis is under obligation situation or needs.

Urbis accepts no responsibility for the accuracy or completeness of any such material.

The information is subject to change and under to update the information or correct any assumptions which may change over time. This study has been prepared for the sole use of YSH022 Ptywithout Ltd and notice is not to be Urbis reliedis upon by no anyobligation third to update the information or correct any assumptions which may change over time. Except This study has been under prepared for the sole use of YSH022 is not to be relied by(electronic, any third party without specific approval from Urbis.

This publication is subject to copyright. as permitted the Copyright Act 1968, no part Pty of it Ltd may,and in any form or by any upon means party without specific approval from Urbis.

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Except as permitted under the Copyright Act 1968, no part ofEnquires it may, inshould 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. be addressed to the publishers. 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.

EMR 0995/B EMR 0995/B

RENTAL RENTALANALYSIS ANALYSIS

160 140

No. of Unit Transactions Median Unit Price No. of Unit Transactions Median House Price Median Unit Price Median House Price

Jun-96 Jun-96 Jun-97 Jun-97 Jun-98 Jun-98 Jun-99 Jun-99 Jun-00 Jun-00 Jun-01 Jun-01 Jun-02 Jun-02 Jun-03 Jun-03 Jun-04 Jun-04 Jun-05 Jun-05 Jun-06 Jun-06 Jun-07 Jun-07 Jun-08 Jun-08 Jun-09 Jun-09 Jun-10 Jun-10 Jun-11 Jun-11 Jun-12 Jun-12 Jun-13 Jun-13 Jun-14 Jun-14 Jun-15 Jun-15 Jun-16 Jun-16

has resulted in increased demand for residential dwellings.

The area’s variety of lifestyle amenity and its ideal position The of thedemand area means residentialdwellings. haspremium resultednature in increased for residential The premium natureheld, of the area means residential dwellings are tightly resulting in a scarcity of unit dwellings areand tightly held,supply resulting in a scarcity of unit developments limited of new residential product. developments and limited supply of new residential product.

Over the past 10 years the median unit price has increased thecent past per 10 years theNewmarket median unitCatchment price has increased byOver 3.7 per annum. has by 3.7 per cent perunit annum.

Catchment recorded a median sale Newmarket price of $480,000 in thehas recorded a median unit sale price of $480,000However, in the June quarter 2016, based on 37 transactions.

June quarter on 37 transactions.

However, according to the2016, Urbisbased Apartment Essentials Q2 2016, according to theproduct Urbis Apartment Essentials Q2 2016, new apartment within the Inner West Precinct new apartment product within the Inner West (which includes the suburb of Newmarket), hasPrecinct been (which includes the suburb of Newmarket), has been transacting at a weighted average price of $664,655. transacting at a weighted average of $664,655.

This demonstrates the value added forprice new apartment stock.

This demonstrates the value added for new apartment stock.

The desirability of the area is evident through the median The desirability of the area is evident through the median house price. The Catchment recorded a median house house price. The Catchment recorded a median house price of $815,000 for the June quarter 2016. This is price of $815,000 for the June quarter 2016. This is 70 per cent higher than the median price for units in 70 per cent higher than the median price for units in the area. The new unit product entering the market the area. The new unit product entering the market is an affordable option for young professionals and is an affordable option for young professionals and families who are seeking to move into the area. families who are seeking to move into the area.

160

Median sale price Median sale price

The Newmarket Catchment (comprising the suburbs ofThe Ashgrove, Herston, Kelvin (comprising Grove, Newmarket and Newmarket Catchment the suburbs Wilston) is a highly sought after residential area.and of Ashgrove, Herston, Kelvin Grove, Newmarket Wilston) is a highly soughtamenity after residential area.

The area’s variety of lifestyle and its ideal position

UNIT SALES CYCLE Newmarket UNIT SALESCatchment CYCLE June 1996–June 2016 Newmarket Catchment June 1996–June 2016 Number of transactions Number of transactions

RESIDENTIAL ANALYSIS RESIDENTIAL ANALYSIS