Ramsgate Beach Property Factsheet 2nd Half 2018 OVERVIEW Ramsgate Beach is a suburb located approx. 16kms south of , and is part of the St George area. According to ABS Census 2016 34.7% of occupied private dwellings in Ramsgate Beach were rented, higher than the average of 31.8%. This is good news for investors looking to enter the market.

CHANGE FROM HALF YEAR LAST YEAR

House Sales

House Median Price

MARKET CONDITIONS House Rental Price Ramsgate Beach* recorded a median house price of $1,600,000 and $750,000 for units in Q3 2018, representing an annual (Q3 2017-Q3 2018) price change Unit Sales of -3.8% and 2.0% respectively. Compared to the Ramsgate Beach 1st half 2018 Research Factsheet, which reported an annual (Q1 2017 – Q1 2018) Unit Median Price price change of 0.7% (house) and 4.2% (units), properties in Ramsgate Beach* have become more affordable for buyers wanting to enter the market. Unit Rental Price

Annual (Q3 2017-Q3 2018) median prices also softened in the combined FUTURE DEVELOPMENTS** Bayside and Local Government Area (LGA), by -10.8% to $1,271,500 for houses and by -3.8% to $700,000 for units. Compared to the Ramsgate Beach* is set to invest approx. LGA, Ramsgate Beach* is still a more premium market – in regards to both the $217.3M of future developments in 2018, market entry price and median price growth resilience. 91.5% of which is dedicated to mixed-use projects. This is a mutually beneficial Average vendor discounting for houses have widened over the past 12 months, strategy for Ramsgate Beach* to add its from -0.5% in Q3 2017 to -1.1% in Q3 2018. This suggests house sellers are property stock whilst attracting increased more willing to negotiate lower than their first list asking price. Average vendor levels of commercial activity in the area. discount for units have swung from a seller’s market in Q3 2017 (at 2.3%) to a buyer’s market in Q3 2018 (-2.5%). These figures combined further confirm A total of 698 units/apartments and 36 that now is an ideal time for first home buyers to enter the market. townhouses are planned for Ramsgate Beach* in 2018, delivered through 6 Median rental price have fluctuated over the past 12 months to Q3 2018, mixed-use and 5 residential projects. decreasing by -2.9% to $680 per week for houses and by -1.0% to $495 per week for units. However given the increase in rental supply – by 12.0% for A key mixed-use project is the Darrell Lea houses and 36.1% for units – there is a stable rental market overall. Further, Factory Site – Blocks B-G – Ramsgate the wider LGA recorded a rental yield of 2.8% (house) and 3.7% (units), Park – Stage 1 ($153.2M). This delivers comparable to that of Sydney Metro (2.7% and 3.7% respectively), confirming 513 apartments and 20 townhouses, as the area as an ideal alternative investment location outside of Sydney Metro. well as a childcare centre, communal gym, green rooftops, and retail space. BAYSIDE & GEORGES RIVER LGA GROWTH Another key mixed-use project is Rocky Point Rd Mixed Development – Palais 1200 $2,000,000 Sans Souci ($22.2M), delivering 95 1000 apartments and 472sqm of retail space. $1,500,000 800 Examples of residential projects include: Princes Highway Apartments ($6.3M, 22 600 $1,000,000 apartments), Meriel Street Townhouses Median Price Median ($2.5M, 5 townhouses), Warialda Street

Number of of Sales Number 400 Units ($1.5M, 8 units), and Alfred Street $500,000 200 Townhouses ($2.1M, 6 townhouses). *Ramsgate Beach market data and key indicators encapsulates aggregate 0 $0 property market conditions in the following suburbs: Ramsgate Beach, , Kogarah, Sandringham, Monterey, and Sans Souci. Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 **Estimated values are based on construction value provided by the relevant data authority and does not reflect commercial and/or re-sale value. House Unit Median House Price Median Unit Price Source: APM Pricefinder, realestate.com.au. © Copyright PRDnationwide 2018. AVERAGE VENDOR DISCOUNT AVERAGEAVERAGE VENDOR VENDOR DISCOUNT DISCOUNT Average vendor discount reflects the House Unit Average vendor discount reflects the average percentage difference between 4.0% average percentage difference betweenfirst listed firstprice list priceand andfinal finalsold soldprice . A 3.0% price.lower Apercentage lower percentagedifference differencesuggests (closerbuyers toare 0) willingsuggeststo buyerspurchase are close to 2.0% willingthe first to purchaseasking priceclose toof thea firstproperty . asking price of a property. 2.8% 0.5% 1.0% 0.5% 2.3%

0.1% MARKET COMPARISON GRAPH 0.0% TheKEY market FACTS comparison UNIT graph provides -1.0% - 1.3% comparative trend for median price of - 1.8% - 2.5% - 0.4% house and units over the past 10 years. -2.0% - 0.5% - 3.1% Suburbs profiled are chosen based on - 1.1% proximity to the main suburb analysed -3.0% in the factsheet, which is Ramsgate Change from Listing to to Listing Price Sale from Change -4.0% Beach. The main suburb is highlighted Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 through a dotted black line graph. HOUSE MARKET COMPARISON

$2,500,000

$2,000,000

$1,500,000

$1,000,000 House House Price Median $500,000

$0 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018* Ramsgate Beach Kogarah Kyeemagh Sans Souci UNIT MARKET COMPARISON

$1,200,000

$1,000,000

$800,000

$600,000

Unit Unit MedianPrice $400,000

$200,000

$0 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018* Ramsgate Beach Kogarah Kyeemagh Sans Souci

*2018 data is representative of sales up to and inclusive of 30th September 2018, or end of Q3 2018. Source: APM Pricefinder. © Copyright PRDnationwide 2018. AVERAGE DAYS ON MARKET**

80 HOUSE KEY FACTS Q3 2018 70 Median Sale Price: $1,600,000 60 Annual Growth: -3.8%* Average Days on Market: 58 50 % Change between First Listed Price and Sold Price: -1.1% 40 70 30 60 58 53 53 39 47 UNIT KEY FACTS Q3 2018 20 45 41 Average Days Market on Days Average 35 35 KEY FACTS UNIT* 30 Median Sale Price: $750,000 Median Sale Price : $785,000 10 Annual Growth: 2.0%* Annual Area Growth: 11% Average Days on Market: 53 Average Days on Market: 36 0 % Change between First Listed % Change between First Listed Price and Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Price and Sold Price: -2.5% Sold Price: -0.1% House Unit Overall Market Trend SALES AND MEDIAN PRICE**

140 $1,800,000

$1,600,000 120

$1,400,000

100 $1,200,000

80 $1,000,000

133 Price Median Number of of Sales Number 126 $800,000 60 120 109 99 $600,000 40 80

$400,000 56 56 54 57 48 20 38 $200,000

0 $0 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018

House Sales Unit Sales Median House Price Median Unit Price

*Annual growth represents price growth for property transactions between Q3 2017 to Q3 2018 (inclusive). **Ramsgate Beach market data and key indicators encapsulates aggregate property market conditions in the following suburbs Ramsgate Beach, Kyeemagh, Kogarah, Sandringham, Monterey, and Sans Souci. Source: APM Pricefinder, realestate.com.au, SQM Research. © Copyright PRDnationwide 2018. SALES PRICE POINT COMPARATIVE ANALYSIS*

HOUSE PRICE POINT 2017 HOUSE PRICE POINT 2018

7.4% 7.4% 5.6% 4.3% Less than $999,999 9.9% $1,000,000 to $1,099,999 7.4% 40.5% $1,100,000 to $1,199,999 50.6% $1,200,000 to $1,299,999 $1,300,000 to $1,399,999 14.0% 16.7% $1,400,000 to $1,499,999 $1,500,000 to $1,599,999 $1,600,000 and above 3.3% 11.6% 9.9% 8.3%

UNIT PRICE POINT 2017 UNIT PRICE POINT 2018 4.1% 4.8% 12.2% 12.5% 18.5% 12.9% 5.4% Less than $499,999 $500,000 to $599,999 7.8% $600,000 to $699,999 4.1% $700,000 to $799,999 5.5% $800,000 to $899,999 24.5% 11.3% $900,000 to $999,999 27.7% 9.6% $1,000,000 to $1,099,999 $1,100,000 and above 21.5% 17.7%

KEY IMPLICATIONS - HOUSE KEY IMPLICATIONS - UNIT The Ramsgate Beach* house market have remained a The Ramsgate Beach* unit market price point structure premium market over the past 12 months to Q3 2018, have remained relatively stable over the past 12 months with most sales within the $1.6M and above price point. to Q3 2018, with minor movements within each price That said the proportion of sales within this price bracket bracket. $600K-$700K remained as the dominant price have declined from 50.6% in 2017 to 40.5% in 2018, in bracket in 2018, increasing from 24.5% to 27.7%. line with the reported -3.8% median house price growth between Q3 2017-Q3 2018. The premium market of $1.1M and above units have strengthened, from 12.2% in 2017 to 18.5% in 2018. This There was a notable increase in the proportion of sales in is in line with the reported 2.0% median unit price growth the $1.2-$1.3M price bracket, from 4.3% in 2017 to between Q3 2017-Q3 2018. Availability of affordable 14.0% in 2018. Affordable options, priced under $1.0M, units, priced under $600K, have remained stable over the have increased from 1.2% in 2017 to 7.4% in 2018. This past 12 months to Q3 2018. Similar to the house market creates more variability in options for different budgets. there are ample options for buyers with differing budgets.

*Disclaimer: Ramsgate Beach market data and key indicators encapsulates aggregate property market conditions in the following suburbs Ramsgate Beach, Kyeemagh, Kogarah, Sandringham, Monterey, and Sans Souci. Each pie chart encapsulates sales data from Q1-Q3 of the relevant year, to allow for fair comparison in price point changes Source: APM Pricefinder. © Copyright PRDnationwide 2018. INVESTMENT ANALYSIS HOUSE KEY FACTS Q3 2018 Median Rent Price: $680 per week Rental Yield: 2.2% HOUSE UNIT Average Days on Market: 22 Bedroom Breakdown: 2 Bed: 18%, 3 Bed: 60%, 4+ Bed: 23% UNIT KEY FACTS Q3 2018 2 Bedroom 1 Bedroom Median Rent Price: $495 per week 3 Bedroom 2 Bedroom Rental Yield: 3.5% 4+ Bedroom 3+ Bedroom Average Days on Market: 21 Bedroom Breakdown: 1 Bed: 12%, 2 Bed: 72%, 3+ Bed: 16%

KEY COMMENTS OverviewInterest in Ramsgate Beach* is recorded at an average of 885 online visits per property, slightly higher than the New South Wales average of 832. The rental market in Ramsgate Beach* has grown exponentially over the past 12 months to Q3 2018. The number of houses rented grew by 12.0% and units grew by 36.1%. During this time the average day on market for a rental have declined, by -12.0% (house) and -4.5% (units), suggesting that despite an increase in rental supply it is absorbed quite quickly by the market. This is good news for investors as they can be assured of quick and high occupancy of their rental investment properties. MEDIAN RENT AND AVERAGE DAYS ON MARKET* 400 800

350 700

300 600

250 500

200 400 358 322 Number of of Number Rentals 150 300 263 258 242 249 100 200 Median Rent ($) / Average Days Market on Days / Rent ($) Average Median

50 100 87 75 78 84 58 56 0 0 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018

House Unit House Average Days Unit Average Days Median House Rent Median Unit Rent

*Disclaimer: Ramsgate Beach market data and key indicators encapsulates aggregate property market conditions in the following suburbs Ramsgate Beach, Kyeemagh, Kogarah, Sandringham, Monterey, and Sans Souci. Source: APM Pricefinder, realestate.com.au, SQM Research. © Copyright PRDnationwide 2018. RENTAL PERFORMANCE 2018* KEY COMMENTS

Median Unit Rent P/W Annual Change 3+ bedroom units provide the highest $700 40.0% annual rental growth, at 35.4%. 35.4% $600 30.0% Vacancy rates in Ramsgate Beach* have increased over the past 12 -2.0% months to June 2018, to 2.3%. That $500 20.0% said this trend was also observed in -24.3% the wider LGA area and Sydney Metro. $400 10.0% Vacancy rates in Ramsgate Beach* $650 was lower than Sydney Metro (2.7%), $300 0.0% suggesting a healthier rental demand. $480 $200 $390 -10.0% Rental yield in the wider Bayside and Georges River Council area is on par $100 -20.0% with the Sydney Metro area. With a lower median entry price point this $- -30.0% makes the LGA an ideal investment 1 Bedroom 2 Bedroom 3+ Bedrooms alternative to Sydney Metro.

VACANCY RATES 2018 RENTAL YIELD 2018

3.0% Suburb/ House Unit Postcode/ Rental Rental 2.5% LGA Yield Yield

2.0% Ramsgate Beach* 2.2% 3.5% 1.5%

1.0% Postcode 2217 2.5% 3.7% 0.5%

0.0% Jun-15 Sep-15 Dec-15 Mar-16 Jun-16 Sep-16 Dec-16 Mar-17 Jun-17 Sep-17 Dec-17 Mar-18 Jun-18 Bayside & Georges 2.8% 3.7% River Council

Ramsgate Beach* Bayside & Georges River Council LGA Sydney Metro 2.7% 3.7% Sydney Metro KEY HOUSING DEMOGRAPHICS

Ramsgate Beach Rockdale LGA New South Wales

Median weekly rent $440 $460 $380

Family Households 401 27,005 1,874,524

Single or lone person households 285 8,719 620,778

Worked full time 497 33,532 2,134,521

Worked part time 191 16,522 1,071,151

Occupied private dwellings 712 37,952 2,604,320

Unoccupied private dwellings 70 3,079 284,741

*Rental performance graph represents aggregate unit median rent prices in the following suburbs: Ramsgate Beach, Kyeemagh, Kogarah, Sandringham, Monterey, and Sans Souci. Annual change is a comparison between 2017 and 2018 median rent figures. Source: APM Pricefinder, SQM Research, ABS Census 2016. © Copyright PRDnationwide 2018. PROJECT DEVELOPMENT MAP 2nd HALF 2018*

2.3%

6.2%

91.5%

Commercial Residential Mixed Use

Estimated Commence Location Project** Type Value*** Date**** 1 Gray Street Boarding House Commercial $4,342,000 19/12/2018

2 President Avenue Commercial Building Commercial $454,000 03/11/2018

3 Railway Parade Commercial Building Commercial $220,000 21/11/2018 Darrell Lea Factory Site - Blocks B-G - Ramsgate Park - Stage 4 1 Mixed-Use $153,180,000 28/03/2018 (513 Apartments, 20 Townhouses) Rocky Point Rd Mixed Development - Palais Sans Souci 5 Mixed-Use $22,168,000 19/11/2018 (95 Apartments) 6 Railway Parade Mixed Use Development (45 Apartments) Mixed-Use $16,295,000 15/01/2018

7 Kogarah RSL Club Mixed Development Mixed-Use $4,513,000 19/12/2018

8 Derby St Mixed Development (15 Apartments) Mixed-Use $2,400,000 19/05/2018

9 Rocky Point Rd Mixed Development (1 Unit) Mixed-Use $226,000 01/06/2018

10 Princes Highway Apartments (22 Apartments) Residential $6,334,000 22/12/2018

11 Meriel Street Townhouses (5 Townhouses) Residential $2,535,000 21/10/2018

12 Alfred St Townhouses (6 Townhouses) Residential $2,130,000 17/01/2018

13 Warialda St Units (8 Units) Residential $1,540,000 07/05/2018

14 Campbell St Townhouses (5 Townhouses) Residential $986,000 05/03/2018

*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 Ramsgate Beach, Kyeemagh, Kogarah, Sandringham, Monterey, and Sans Souci. ***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. Source: Cordell Database, ESRI ArcGIS, Department of Planning and Environment NSW, Bayside City Council, Georges River City COuncil. © Copyright PRDnationwide 2018. ABOUT PRDnationwide RESEARCH PRDnationwide’s research division provides reliable, unbiased, and authoritative property research and consultancy to clients in metro and regional locations across

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