Panania Postcodes 2211 – 2212 -2313 – 2214

Property Factsheet 2nd Half 2018 OVERVIEW is part of the South-Western region, located approx. 23kms from the Sydney CBD. According to ABS Census 2016 only 5.6% of private dwellings were unoccupied, lower than the average of 9.9%. Further, the number of private dwellings grew by 5.3% during this time, signalling a healthy rental market for investment. CHANGE FROM HALF YEAR LAST YEAR

House Sales

House Median Price

MARKET CONDITIONS House Rental Price Panania* recorded a median house price of $1,025,000 and $750,000 for units in Q3 2018, representing an annual (Q3 2017-Q3 2018) price change of -1.2% Unit Sales and -1.6% respectively. Compared to the Panania 1st half 2018 Research Factsheet, which reported an annual (Q1 2017 – Q1 2018) price change of 3.8% Unit Median Price (house) and 2.1% (units), properties in Panania* have become more affordable. Now is an ideal time for first home buyers to enter the market. Unit Rental Price

Annual (Q3 2017-Q3 2018) median prices have softened in the Canterbury – FUTURE DEVELOPMENTS** Local Government Area (LGA), by -12.2% to $900,000 for houses and by -0.4% to $587,500 for units. Compared to the LGA, houses in Panania* Panania* is set to invest approx. $587.3M nd attracts premium pricing and have proven to be more resilient in terms of of future development in the 2 half of median prices, offering owners and investors higher capital growth. Panania’s* 2018, 49.7% of which will be dedicated to unit market remains a premium compared to the LGA, attracting higher prices. mixed-use projects. This is a mutually beneficial strategy for Panania* to add Average vendor discounting for houses have widened over the past 12 months, property stock whilst attracting increased from -0.8% in Q3 2017 to -4.5% in Q3 2018. This suggests house sellers are levels of commercial activity in the area. more willing to negotiate lower than their first list asking price. Average vendor discount for units have swung from a seller’s market in Q3 2017 (at 0.5%) to a A total of 23 townhouses, 490 dwellings, buyer’s market in Q3 2018 (-4.1%). Buyers can take advantage of increased and 972 units/apartments are planned for nd affordability whilst sellers can minimize their risks in terms of capital growth. the 2 half 2018; to be delivered through 5 mixed-use and 6 residential projects. The Panania* rental market continues to serve investors well, particularly those who have invested in houses. Median house rental price increased by 9.4% A key mixed-use project is the Kitchener over the past 12 months to Q3 2018, currently at $580 per week. At the same Parade Mixed Development – Bankstown time house rental supply increased by 33.1%, suggesting real rental returns and RSL Site ($215.4M). This project will not a median rental price spike due to scarcity of rental supply. deliver 512 residential apartments, a retail podium with11 tenancies (3016sqm), an CANTERBURY-BANKSTOWN COUNCIL GROWTH internal child-care centre (571sqm), and a health services facility centre (684sqm). 800 $1,200,000 A key residential project is the Riverlands $1,000,000 600 East Hills Golf Course ($40.0M), due to $800,000 deliver 490 dwellings in to the market.

400 $600,000 Notable projects planned for the 2nd half of Median Price Median 2018 to stimulate economic growth Number of of Sales Number $400,000 include the Roselands Shopping Centre 200 ($50.0M) and the Sydney Metro City & $200,000 Southwest Station and Corridor ($80.0M).

*Panania market data and key indicators encapsulates aggregate property market 0 $0 conditions in the following suburbs: Panania, East Hill, Padstow, Picnic Point, Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Revesby, & . **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 House Unit AverageAverage vendorvendor discountdiscount reflectsreflects the the 2.0% averageaverage percentagepercentage differencedifference between betweenfirst listed firstprice list priceand andfinal finalsold soldprice . A

1.0% 0.5% price.lower Apercentage lower percentagedifference differencesuggests 0.0% 1.2% (closerbuyers toare 0) willingsuggeststo buyerspurchase are close to willingthe first to purchaseasking priceclose toof thea firstproperty . -1.0% asking price of a property. - 2.0% - 2.1% - 2.3% - 2.7% - 2.8% -2.0% - 0.3% - 0.8% - 4.1% -3.0% - 4.5% MARKET COMPARISON GRAPH

-4.0% - 6.7% TheKEY market FACTS comparison UNIT graph provides comparative trend for median price of -5.0% house and units over the past 10 years. -6.0% Suburbs profiled are chosen based on proximity to the main suburb analysed

Change from Listing to to Listing Price Sale from Change -7.0% in the factsheet, which is Panania. The -8.0% main suburb is highlighted through a Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 dotted black line graph. HOUSE MARKET COMPARISON

$1,200,000

$1,000,000

$800,000

$600,000 House House Price Median $400,000

$200,000 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018* Panania Padstow Picnic Point Revesby UNIT MARKET COMPARISON

$1,000,000 $900,000 $800,000 $700,000 $600,000 $500,000 Unit Unit MedianPrice $400,000 $300,000 $200,000 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018* Panania Padstow Picnic Point Revesby

*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**

100 90 HOUSE KEY FACTS Q3 2018

80 Median Sale Price: $1,025,000 70 Annual Growth: -1.2%* Average Days on Market: 59 60 % Change between First Listed 50 Price and Sold Price: -4.5% 40 86

30 47 59 56 UNIT KEY FACTS Q3 2018

Average Days Market on Days Average 54 47 51 20 43 43 KEY FACTS UNIT* 37 Median Sale Price: $750,000 29 Median Sale Price : $785,000 10 23 Annual Growth: -1.6%* Annual Area Growth: 11% Average Days on Market: 56 0 Average Days on Market: 36 % Change between First Listed Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 % Change between First Listed Price and Price and Sold Price: -4.1% Sold Price: -0.1% House Unit Overall Market Trend SALES AND MEDIAN PRICE**

250 $1,200,000

$1,000,000 200

$800,000

150

$600,000 Median Price Median

100 199 184 189 $400,000 Number of of Sales Number 155 144

50 102 78 $200,000 55 57 48 46 41

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). **Pananiamarket data and key indicators encapsulates aggregate property market conditions in the following suburbs: Panania, East Hill, Padstow, Picnic Point, Revesby, & Milperra. Source: APM Pricefinder, realestate.com.au, SQM Research. © Copyright PRDnationwide 2018. SALES PRICE POINT COMPARATIVE ANALYSIS

HOUSE PRICE POINT 2017 HOUSE PRICE POINT 2018

5.8% 7.6% 11.4% 10.3% 2.9% 9.2% 3.8% Less than $799,999 12.4% $800,000 to $899,999 10.5% $900,000 to $999,999 23.8% 20.1% $1,000,000 to $1,099,999 $1,100,000 to $1,199,999 11.4% $1,200,000 to $1,299,999 17.8% $1,300,000 to $1,399,999 $1,400,000 and above 29.5% 22.5%

UNIT PRICE POINT 2017 UNIT PRICE POINT 2018

7.9% 5.1% 24.8% 9.9% Less than $599,999 10.2% $600,000 to $649,999 33.7% $650,000 to $699,999 13.3% 13.4% $700,000 to $749,999 $750,000 to $799,999 9.9% $800,000 to $849,999 8.4% $850,000 to $899,999 12.2% $900,000 and above 13.9% 9.2% 11.9% 3.1% 13.3%

KEY IMPLICATIONS - HOUSE KEY IMPLICATIONS - UNIT The Panania* house market has shifted towards a lower The Panania* unit market have remained a premium priced bracket over the past 12 months to Q3 2018, with market over the past 12 months to Q3 2018, with the the most dominant price range moving from $1.0-$1.1M most dominant price bracket being $900K and above. in 2017 to $900K-$1.0M in 2018. This is in line with the This price bracket have increased from 24.8% in 2017 to reported -1.2% softening in median house price growth 33.7% in 2018. Thus despite a -1.6% softening in median between Q3 2017-Q3 2018. unit priceAVERAGE growth between Q3 DAY 2017- Q3ON 2018 MARKET there is actually increasing interest in premium products. The shift towards a more affordable house market is further confirmed by the significant increase in sales There is a slight strengthening in the mid-priced bracket, within the $800-$900K price bracket, from 9.2% in 2017 between $700-800K, increasing from 20.3% in 2017 to to 23.8% in 2018. Those looking for affordable options of 25.5% in 2018. This indicates more opportunities for less than $800K now have more opportunities, as sales those with a lower budget. Affordable options, priced in this price range doubled from 5.8% to 11.4% in 2018. below $600K, have shrunk from 7.9% to 5.1% in 2018.

*Disclaimer: Norwest market data and key indicators encapsulates aggregate property market conditions in the following suburbs: Panania, East Hill, Padstow, Picnic Point, Revesby, & Milperra. 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: $580 per week Rental Yield: 2.9% HOUSE UNIT Average Days on Market: 25 Bedroom Breakdown: 2 Bed: 14%, 3 Bed: 48%, 4+ Bed: 38%

2 Bedroom 1 Bedroom UNIT KEY FACTS Q3 2018 3 Bedroom 2 Bedroom Median Rent Price: $585 per week Rental Yield: 4.2% 4+ Bedroom 3+ Bedroom Average Days on Market: 23 Bedroom Breakdown: 1 Bed: 6%, 2 Bed: 27%, 3+ Bed: 67%

KEY COMMENTS OverviewInterest in Panania* was recorded at an average of 911 online visits per property in June 2018, higher than the average New South Wales of 823. Panania*’s rental market grew exponentially over the past 12 months to Q3 2018. The number of houses rented grew by 33.1% and units grew by 23.8%. During this time the average day on market for a rental have declined, by -7.4% (house) and -4.2% (units). This suggests that despite an increase in rental supply, properties are 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*

250 700

600 200

500

150 400

221 213 300 100 Number of of Number Rentals

160 155 147 152 200 130 118 105 50 101 Market on Days / Rent ($) Average Median 86 94 100

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: Panania market data and key indicators encapsulates aggregate property market conditions in the following suburbs: Panania, East Hill, Padstow, Picnic Point, Revesby, & Milperra. Source: APM Pricefinder, realestate.com.au, SQM Research. © Copyright PRDnationwide 2018. RENTAL PERFORMANCE 2018* KEY COMMENTS Median House Rent P/W Annual Change Astute investors in Panania* are $800 15.0% currently benefitting from rental yields 9.5% of 2.9% (house) and 4.2% (unit), much $700 higher than Sydney Metro at 2. 7% 10.0% (houses) and 3.7% (units). $600 1.9% 4+ bedroom houses provide the $500 0.0% 5.0% highest annual rental growth, at 9.5%. $400 Vacancy rates in Panania* have $690 $300 0.0% shown an increasing trend over the $540 past 12 months to June 2018, currently $200 $450 at 1.6%. However this the same -5.0% pattern observed in the wider LGA and $100 is still significantly lower than Sydney Metro’s (2.7%). This further confirms $- -10.0% Panania* as having a healthier rental 2 Bedrooms 3 Bedrooms 4+ Bedrooms market, good news for investors

VACANCY RATES 2018 RENTAL YIELD 2018 3.0% Suburb/ House Unit 2.5% Postcode/ Rental Rental LGA Yield Yield 2.0%

1.5% Panania* 2.9% 4.2% 1.0%

0.5% Canterbury- Bankstown 3.0% 4.0%

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 LGA

Sydney Metro 2.7% 3.7% Panania* Canterbury-Bankstown LGA Sydney Metro

KEY HOUSING DEMOGRAPHICS

Canterbury- Panania New South Wales Bankstown LGA

Median weekly rent $410 $380 $380

Family Households 3,233 83,008 1,874,524

Single or lone person households 825 21,173 620,778

Worked full time 3,724 85,599 2,134,521

Worked part time 1,706 44,841 1,071,151

Occupied private dwellings 4,130 107,776 2,604,320

Unoccupied private dwellings 245 7,736 284,741

*Rental performance graph represents aggregate house median rent prices in the following suburbs Panania, East Hill, Padstow, Picnic Point, Revesby, & Milperra. Annual change is a comparison between Q1-Q3 2017 and Q1-Q3 2018 median rent figures. Source: APM Pricefinder, SQM Research, ABS Census 2016. © Copyright PRDnationwide 2018. PROJECT DEVELOPMENT MAP 2nd HALF 2018*

14.5% 18.9%

14.5%

49.7%

Commercial Residential Mixed Use Infrastructure Industrial

Estimated Location Project** Type Commence Date**** Value*** 1 Roselands Shopping Centre Commercial $50,000,000 17/09/2018 2 Polair Base Commercial $35,000,000 10/12/2018 3 Rspca NSW Centre Commercial $13,000,000 17/09/2018 4 Community & Faith Centre Commercial $8,037,000 15/10/2018 5 Marigold Street Warehouses Commercial $5,000,000 02/07/2018 6 Anzac Parade & Hume Highway Industrial Development Industrial $12,000,000 05/11/2018 7 Clapham Road Light Industrial Building Industrial $2,000,000 24/09/2018 8 Sydney Metro City & Southwest - Southwest Station And Corridor Infrastructure $80,000,000 03/12/2018 9 Canterbury Town Centre Infrastructure $5,087,000 18/08/2018 Kitchener Parade Mixed Development - Bankstown RSL Site 10 Mixed-Use $215,433,000 13/10/2018 (521 Apartments) Hillcrest Av & Hume Hwy Mixed Development – Eden 11 Mixed-Use $48,863,000 05/11/2018 (177 Apartments, 14 Townhouses) 12 Canterbury Rd Mixed Development (58 Apartments) Mixed-Use $14,047,000 26/11/2018 13 Weyland St Mixed Use Development (39 Apartments) Mixed-Use $9,983,000 10/12/2018 14 Clapham Rd Mixed Development (16 Units) Mixed-Use $3,500,000 06/12/2018 15 Riverlands (East Hills) Golf Course (490 Dwellings) Residential $40,000,000 01/12/2018 16 Stanley St Units – Bankstar (53 Units) Residential $15,058,000 20/12/2018 17 Leonard Street Apartments (44 Apartments) Residential $11,000,000 12/11/2018 18 Hume Highway Units (36 Units) Residential $10,000,000 03/12/2018 19 Broughton St Residential Building (28 Units) Residential $5,700,000 10/12/2018 Thorncraft Pde Townhouses & Villas - The Terraces 20 Residential $3,545,000 10/12/2018 (9 Townhouses, 3 Villas) *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 the Canterbury-Bankstown Local Government Authority. ***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, Canterbury-Bankstown 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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