Bribie Island Property Factsheet 1st Half 2019 OVERVIEW Bribie Island is located on the northerly island of , . It is approximately 2hrs north of CBD. Auction clearance rates in Bribie Island* were at a sustainable 50.0% in Q1 2019. This is well above Moreton Bay LGA auction clearance rate of 38.9%. These numbers suggest there is a slight preference for auctions in Bribie Island*.

CHANGE FROM HALF YEAR LAST YEAR

House Sales

House Median Price MARKET CONDITIONS House Rental Price Bribie Island* recorded a median house price of $490,000 and $327,500 for units in Q1 2019. This is an annual (Q1 2018-Q1 2019) price strengthening of Unit Sales 2.2% for house and a softening of -5.6% for units. Compared to Bribie Island* 2nd half 2018 Research Factsheet, which reported an annual (Q3 2017 – Q3 Unit Median Price 2018) median price change of -1.0% (house) and 7.0% (units), in Bribie Island* has strengthened in value whereas units have become more affordable. Unit Rental Price Moreton Bay Regional Local Government Area (LGA) recorded a lower house median price of $460,000 in Q1 2019, with annual (Q1 2018-Q1 2019) growth of FUTURE DEVELOPMENTS** 1.1%. Units recorded a median price of $297,000 with an annual price softening of -11.7%. Bribie Island* is thus a premium market for both houses and units Bribie Island* has invested approx. compared to the LGA, both from a price and capital growth perspectives. $32.5M of developments between 2018 and 1st half 2019, with residential projects Average vendor discounting has widened for houses between Q1 2018 - Q1 account as the main focus ($26.7M or 2019, from -1.7 % to -6.0%. This shows higher buyer negotiation activity with 82.0%). This is followed by commercial vendors over the past 12 months. Average vendor discounting for units have ($4.5M or 13.8%) and infrastructure also widened, from -4.6% in Q1 2018 to -8.1% Q1 2019. These figures suggest projects ($1.3M or 4.1%). now is an ideal time for first home buyers and investors to enter the current market in Bribie Island*. Bribie Island RSL ($1.5M) and Bribie Island Bowls Club ($1.5M) are two The median rental price for both house and units strengthened over the past 12 significant commercial projects that are months. Houses recorded annual (Q1 2018 – Q1 2019) growth of 8.2% to $430 set to be completed in 2019. The per week, whereas units recorded 1.6% growth to $325 per week. Investors are combination of these projects will create also benefiting from low average days on the market, house at 23 days and jobs in the local area and stimulate further units at 28 days. Now is an ideal time for investors to enter the market, as economic growth. vacancy rates were recorded at 2.3% in December - well below the Moreton Bay LGA vacancy rate of 3.0% and Brisbane Metro of 3.2%. These indicators A total of 208 Units/ , 15 suggest a healthy rental demand whereby investors are able to quickly occupy dwellings and 335 Lots is planned for their properties and benefit from rental returns. Bribie Island*. This addition will cater to the 6.4% population growth in Bribie BRIBIE ISLAND AND SANDSTONE POINT Island* over the past 5 years to 2016. Key residential projects in 2019 include the MEDIAN PRICE COMPARISON^ Cubdale Sandstone Unit Development, (164 Units), Pacific Harbour Golf and Area of Interest House (Q1 2019) Unit (Q1 2019) Country Club Residential Division ($8.8M, 197 lots), Orianna Sandston Point Stage 2 Woorim $610,000 $325,000 Release (15 dwellings / home sites), and Bongaree $405,000 $243,000 South Esplanade Units ($4.0M, 16 units).

*Bribie Island market data and key indicators encapsulates aggregate Banksia Beach $550,000 $359,000 property market conditions in the following suburbs: Banksia Beach, Bellara, Bongaree, Sandstone Point, Woorim. **Estimated values are based on value provided by the relevant Bellara $425,000 $368,000 data authority and does not reflect commercial and/or re-sale value. ^Median price comparison encapsulates transactions in Q1 2019 only, Sandstone Point $430,000 $287,000 between 1st January – 31st March 2019. Source: APM Pricefinder, realestate.com.au, domain.com.au, Moreton Bay Regional Council. © Copyright PRDnationwide 2019. Moreton Bay Regional LGA $460,000 $297,000 AVERAGE VENDOR DISCOUNT AVERAGEAVERAGE VENDOR VENDOR DISCOUNT DISCOUNT House Unit AverageAverage vendorvendor discountdiscount reflectsreflects the the 0.0% averageaverage percentagepercentage differencedifference between betweenfirst listed firstprice list priceand andfinal finalsold soldprice . A -1.0% price.lower Apercentage lower percentagedifference differencesuggests - 1.7% -2.0% (closerbuyers toare 0) willingsuggeststo buyerspurchase are close to - 3.7%

- 4.0% willingthe first to purchaseasking priceclose toof thea firstproperty . - 4.6% - 5.0% - 5.0% - 5.0% - 5.0% -3.0% - 5.1% asking price of a property. - 5.5% - 6.0% -4.0% MARKET COMPARISON GRAPH - 8.1% -5.0% TheKEY market FACTS comparison UNIT graph provides -6.0% comparative trend for median price of house and units over the past 10 years. -7.0% Suburbs profiled are chosen based on proximity to the main suburb analysed

Change from Listing to to Listing Price Sale from Change -8.0% in the factsheet, which is Bribie Island. -9.0% The main suburb is highlighted through Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 a dotted black line graph.

HOUSE MARKET COMPARISON

$700,000

$600,000

$500,000

$400,000

$300,000

House House Price Median $200,000

$100,000

$0 2010 2011 2012 2013 2014 2015 2016 2017 2018* 2019* Woorim Bongaree Banksia Beach Bellara Sandstone Point

UNIT MARKET COMPARISON

$500,000 $450,000 $400,000 $350,000 $300,000 $250,000 $200,000

House House Price Median $150,000 $100,000 $50,000 $0 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019* Woorim Bongaree Banksia Beach Bellara Sandstone Point

*Bribie Island data encapsulates aggregate property data in the following suburbs: Banksia Beach, Bellara, Bongaree, Woorim and Sandstone Point. *2019 data is representative of sales up to and inclusive of 31st March 2019, or end of Q1 2019. Source: APM Pricefinder. © Copyright PRDnationwide 2019. AVERAGE NUMBER OF DAYS ON MARKET**

140 House Unit HOUSE KEY FACTS Q1 2019 120 Median Sale Price: $490,000 Annual Growth: 2.2%* 100 Average Days on Market: 99 % Change between First Listed 80 Price and Sold Price: -6.0%

60 125 108 105

99 UNIT KEY FACTS Q1 2019

Average Days Market on Days Average KEY FACTS UNIT* 80

40 79 75 72

69 Median Sale Price: $327,500 65 64 62 Median Sale Price : $785,000 Annual Growth: -5.6%* Annual Area Growth: 11% 20 Average Days on Market: 105 Average Days on Market: 36 % Change between First Listed % Change between First Listed Price and Price and Sold Price: -8.1% 0 Sold Price: -0.1% Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019

SALES AND MEDIAN PRICE**

160 $600,000

140 $500,000

120

$400,000 100

80 $300,000 Median Price Median Number of of Sales Number 137 60 122 123 121 110 $200,000 93 88 40 72 67 63 $100,000 20 42 43

0 $0 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 House Sales Unit Sales Median House Price Median Unit Price

*Annual growth represents price growth for property transactions between Q1 2018 to Q1 2019 (inclusive). **Bribie Island market data and key indicators encapsulates aggregate property market conditions in the following suburbs: Banksia Beach, Bellara, Bongaree, Sandstone Point, Woorim. Source: APM Pricefinder, realestate.com.au, SQM Research. © Copyright PRDnationwide 2019. SALES PRICE POINT COMPARATIVE ANALYSIS*

HOUSE PRICE POINT 2017 HOUSE PRICE POINT 2018 1.6% 1.3% 4.7% 9.6% 8.3% 12.2% 9.6% Less than $249,999 6.1% 5.9% $250,000 to $349,999 $350,000 to $449,999 8.3% $450,000 to $549,999 12.2% $550,000 to $649,999 28.7% 8.7% 33.1% $650,000 to $749,999 $750,000 to $849,999 $850,000 and above 22.0% 27.8%

UNIT PRICE POINT 2017 UNIT PRICE POINT 2018

3.2% 2.8% 1.9%

13.5% 3.2% 13.5% Less than $199,999 23.4% 15.9% $200,000 to $249,999 9.0% $250,000 to $299,999 $300,000 to $349,999 3.7% 21.3% $350,000 to $399,999 $400,000 to $449,999 17.8% 11.2% 18.7% $450,000 to $499,999 $500,000 and above 17.4% 23.4%

KEY IMPLICATIONS - HOUSE KEY IMPLICATIONS - UNIT The highest proportion of houses sold in Bribie Island* in The highest proportion of units sold in Bribie Island* in 2018 remained predominantly within the $350 - $449K 2018 was mostly within the higher price bracket of $500 price bracket. However sales activity in this price bracket and above (23.4%) and mid-range price bracket of $350- has slightly declined, from 33.1% in 2017 to 28.7% in 399K price segment (23.4%). This indicated a high swing 2018. At the same time the $450-$549K price bracket towards higher priced units, particularly as the dominant showed an increase from 22.0% to 27.8% in 2018. This price bracket in 2017 the $250-$300K. There is also a suggest that there is a demand towards premium strengthening in Bribie Island’s mid-range market. properties, in line with the reported 2.2% annual growth over the past 12 months to Q1 2019. Price bracket of less than $199K have declined in sales, from 3.2% in 2017 to 2.8% in 2018. This further confirms Lower price brackets have reduced in sales activity. the strengthening of a mid-high price bracket as Affordable options, priced under $350K are diminishing, affordable options are starting to slowly diminish. First from a total of 13.8% in 2017 to 10.9% in 2018. Thus first home buyers need to take this opportunity to enter the home buyers looking to enter the market need to act fast. market while affordable stock is still available.

*Disclaimer: Bribie Island market data and key indicators encapsulates aggregate property market conditions in the following suburbs: Banksia Beach, Bellara, Bongaree, Sandstone Point, Woorim. For comparative purposes annual house and unit sales are between entire 2017 and 2018. Source: APM Pricefinder. © Copyright PRDnationwide 2019. INVESTMENT ANALYSIS HOUSE KEY FACTS Q1 2019 Median Rent Price: $430 per week Rental Yield: 4.1% HOUSE UNIT Average Days on Market: 23 Bedroom Breakdown: 2 Bed: 8%, 3 Bed: 50%, 4+ Bed: 42% 2 Bedroom 1 Bedroom 3 Bedroom 2 Bedroom UNIT KEY FACTS Q1 2019 4+ Bedroom 3+ Bedroom Median Rent Price: $325 per week Rental Yield: 4.5% Average Days on Market: 28 Bedroom Breakdown: 1 Bed: 12%, 2 Bed: 50%, 3+ Bed: 38%

KEY COMMENTS Rental demand in Bribie Island* increased between Q1 2018 – Q1 2019, for both house (31.8%) and units (12.0%). Median rental prices also strengthened, by 8.2% (house) and 1.6% (units). This suggest a resilient rental market, whereby an increase in median rent prices were not due to an undersupply. Furthermore average days on the market continue to track at a low 23 (house) and 28 (units) days despite the increase in rental supply. This ticks all the right boxes for an astute investor as the Bribie Island* rental market is in a healthy position, whereby there is room in the market for more rental supply.

MEDIAN RENT AND AVERAGE DAYS ON MARKET*

140 500

450 120 400

100 350

300 80

250

Number of of Number Rentals 60 116 200 103 95 90 88 150

40 Market on Days / Rent ($) Average Median 65 56 56 100 50 51 20 45 35 50

0 0 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 House Unit House Average Days Unit Average Days Median House Rent Median Unit Rent

*Disclaimer: Bribie Island market data and encapsulates aggregate property market conditions in the following suburbs: Banksia Beach, Bellara, Bongaree, Sandstone Point, Woorim. Source: APM Pricefinder, realestate.com.au, SQM Research. © Copyright PRDnationwide 2019. RENTAL PERFORMANCE 2018* KEY COMMENTS Median House Rent P/W Annual Change House rental yields in Bribie Island* $600 14.0% have increased from 3.5% in June 2018 to 4.1% in December 2018. 0.4% 12.0% Rental yields are well above that of $500 10.0% Brisbane Metro, making Bribie Island* -2.5% an ideal location for future investment. $400 8.0% 11.9% 2 bedroom houses provide the highest 6.0% annual rental growth, at 11.9%. $300 4.0% $480 Vacancy rates in Bribie Island* were at $200 $390 2.0% 2.3% in December 2018, which is $330 lower than Moreton Bay LGA (3.0%) 0.0% and Brisbane Metro (3.2%). Vacancy $100 rates in Bribie Island* were trending -2.0% downwards, which is great news for $- -4.0% investors as their properties are being Two Bedrooms Three Bedrooms Four + Bedrooms occupied relatively quick.

VACANCY RATES 2018 RENTAL YIELD 2018

4.5% Suburb/ House Unit 4.0% Postcode/ Rental Rental LGA Yield Yield 3.5% 3.0% 2.5% Bribie Island 4.1% 4.5% 2.0% 1.5% Moreton Bay 1.0% LGA 4.2% 5.1% 0.5% Bribie Island Moreton Bay Brisbane Metro

0.0% Dec-15 Mar-16 Jun-16 Sep-16 Dec-16 Mar-17 Jun-17 Sep-17 Dec-17 Mar-18 Jun-18 Sep-18 Dec-18 Brisbane Metro 3.8% 5.2%

AUCTION CLEARANCE RATES 2019** Q1 19 COMPARISON

100.0% Suburb/ Postcode/ Auction 80.0% LGA Clearance Rate

60.0% Bribie Island** 50.0% 40.0%

Moreton Bay 20.0% 38.9% LGA Auction Rate Clearance Auction 0.0% Q4-2017 Q1-2018 Q2-2018 Q3-2018 Q4-2018 Q1-2019 Brisbane Metro^ 33.6%

Bribie Island

*Rental performance graph represents aggregate house median rent prices in the following suburbs: Banksia Beach, Bellara, Bongaree, Sandstone Point, Woorim. Annual change is a comparison between 2017 and 2018 median rent figures. **Auction Clearance rates for Bribie Island are for all residential auctions held in the suburb of: Banksia Beach, Bellara, Bongaree, Sandstone Point, Woorim. ^Capital city data obtained by accumulating Domain’s weekly auction clearance results. Source: APM Pricefinder, Domain, SQM Research. © Copyright PRDnationwide 2019. PROJECT DEVELOPMENT MAP 2018- 1st Half 2019*

4.1%

13.8% 82.0 %

Commercial Residential Infrastructure

Estimated Commence Status Location Project** Type Value*** Date**** Update^ 1 Aldi Foodstore Bribie Island Extension Commercial $1,500,000 09/07/2018 Completed 2 Bribie Island Rsl Commercial $1,500,000 04/06/2018 In Progress 3 Bribie Island Bowls Club Commercial $1,500,000 20/08/2018 In Progress 4 Joondoburri Conference Centre Infrastructure $450,000 26/11/2018 In Progress 5 Banksia Beach Pacific Harbour Infrastructure $300,000 29/01/2019 In Progress 6 Bestmann Road East Telecommunications Facility Infrastructure $300,000 12/11/2018 In Progress 7 Bongaree Jetty Infrastructure $300,000 10/05/2019 In Progress Cubdale Pty Ltd- Sandstone Unit Development – (164 8 Residential n/a 01/01/2019 In Progress Units Approved) Pacific Harbour Golf & Country Club Residential 9 Residential $8,800,000 22/08/2018 Completed - (197 Lots) Chelsea View Luxury (16 Apartments)- Benabrow 10 Residential $4,500,000 05/03/2018 In Progress Avenue Mixed Use Development 11 South Esplanade Units- (16 Units) Residential $4,000,000 18/03/2019 In Progress 12 Fourth Avenue Apartments- ( 8 Apartments) Residential $2,400,000 02/10/2018 Completed 13 Pacific Harbour Banksia Beach- (52 Lots) Residential $2,100,000 02/07/2018 In Progress 14 Boyd Street Units- ( 4 Units) Residential $1,500,000 18/02/2019 Completed 15 Pacific Harbour Estate Subdivision (31 Lots) Residential $1,240,000 01/07/2018 In Progress 16 Pacific Harbour Canal Estate Subdivision (30 Lots) Residential $1,200,000 08/07/2018 In Progress 17 Pacific Harbour Canal Estate Subdivision (25 Lots) Residential $1,000,000 09/07/2018 In Progress Orianna Sandstone Point, Stage 2 Release – 18 Residential n/a 01/01/2018 In Progress 15 Dwellings *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 Banksia Beach, Bellara, Bongaree, Woorim and Sandstone Point . ***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. ^Status update refers to the project current stage of development Source: Cordell Database, ESRI ArcGIS, Department of Infrastructure, Local Government and Planning, Moreton Bay Regional Council. © Copyright PRDnationwide 2019. 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 sound decisions about residential and commercial properties.

OUR KNOWLEDGE Access to accurate and objective research is the foundation of all good property decisions

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 OUR SERVICES INCLUDE: 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 • Advisory and consultancy future implications around such issues based on historical data and fact. • Market Analysis including profiling and trends

• Primary qualitative and OUR PEOPLE quantitative research Our research team is made up of highly qualified researchers who • Demographic and target market focus solely on property analysis Analysis

Skilled in deriving macro and micro quantitative information from multiple • Geographic information mapping credible sources, we partner with clients to provide strategic advice and direction regarding property and market performance. We have the • Project Analysis including product added advantage of sourcing valuable and factual qualitative market and pricing recommendations research in order to ensure our solutions are the most well considered and financially viable. • Rental and investment return analysis Our experts are highly sought after consultants for both corporate and AREAgovernmentXXXXXX bodies and their advice hasAREA helped steerXXXXXX the direction of a number of property developments and secured successful outcomes for Jane Baillie our clients. Principal M +61 429 624 277 E [email protected] OUR SERVICES PRDnationwide Bribie Island Our research services span over every suburb, LGA, and state within Shop 2/41 Benabrow Avenue Australia; captured in a variety of standard and customized products Bribie Island QLD 4507 We have the ability and systems to monitor market movements, Australia demographic changes and property trends. We use our knowledge of T +61 7 3408 8100 market sizes, price structure and buyer profiles to identify opportunities for clients and provide market knowledge that is unbiased, thorough and PRD.com.au/bribieisland reliable.

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. Over 40 Years of Leading Property Industry Research