Your National Property Report

open market Your national property report

FIVE PROPERTY MARKET TRENDS FOR 2017

LIFESTYLE PROPERTY IN SYDNEY AND MELBOURNE HOLDING VALUE

DIVERSE PERFORMANCE PREDICTED FOR 2017

Q1 JANUARY–MARCH 2017 Welcome to the latest LJ Hooker Open Market report

Property markets around the country have kicked off data and commentary to do just that, ensuring that the new year at a fast pace with strong competition you are able to make sound real estate decisions. between buyers and listings picking up. However, home prices and activity in your Supply, interest rates and affordability are set to be neighbourhood are dependent on local market the big topics for housing markets this year and are conditions. To best understand how your suburb is expected to drive a diverse range of performances performing, we invite you to continue the conversation across each suburb. with us, your local LJ Hooker real estate specialist.

As market dynamics change it’s important that you stay up to date with how key market fundamentals are performing. This report provides you with the latest

Contents

Market trends...... 01 South Australia...... 16

National market overview...... 02 Western Australia...... 20

New South Wales...... 04 Australian Capital Territory...... 24

Victoria...... 08 Tasmania...... 26

Queensland...... 12 Northern Territory...... 27

If you’re looking to sell, buy or rent, we can connect you with your local LJ Hooker office today.Please call 1800 621 212 or visit ljhooker.com.au MARKET TRENDS

Five trends for 2017

Booms, busts, bubbles, oversupply, undersupply, strong growth, no growth ... the property market has attracted plenty of headlines over the past 12 months. However, in reality markets in 2016 generally tracked like they did in 2015.

This is because the fundamentals that drive real estate markets - interest rates, supply, employment and population growth - saw little change over the year. If anything, these metrics moved further in favour of buyers with interest rates being cut twice and the national unemployment rate tightening over the course of 2016.

This is set to change in 2017; banks have started lift interest rates, new apartment developments have started to reach completion and global political changes are set to influence our economy. What are the major trends which will shape Australian property market over the coming year?

1. Picking apartment pockets The supply of new apartments into some capital city suburbs will rise this year. So it is important for buyers 4. The sharing economy to choose carefully where they buy. New innovative technologies will continue to shape how 2. Rise of the renter we live. The ability of these technologies and services to A combination of factors will culminate in 2017 to see a make and save home owners money, as well as free up rise in the preference for some to rent a property and put leisure time, will ensure that their popularity continues to their plans to buy a home on hold. rise over the coming year.

3. Love thy neighbour 5. The cost of change The growth of higher density living has seen demand The high cost of selling, buying and moving home has grow from developers for amalgamated sites. continued to grow. This has reached a point where This has created an opportunity for neighbours to team people are reconsidering and/or delaying their next up, amalgamate their properties and offer them for sale property move. Pressure to reform these costs, such as in-one-line. government stamp duty, will continue to rise over 2017.

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ljhooker.com.au NATIONAL MARKET OVERVIEW

Diverse performance predicted for 2017 Darwin

At a macro level, housing markets finished the year on a strong footing with capital city dwelling values continuing Houses Units to rise. In the December quarter of 2016, dwelling values Median Price $515,000 $460,000 increased 2.1% across the combined capital cities, Growth –0.2% 5.7% representing a slower rate of growth compared to the 94 this year 80 this year 2.9% growth in the September quarter. Days on Market 84 last year 96 last year

The past 12 months have seen the pace of capital gains improve –8.3% this year –8.0% this year Discounting compared with 2015, with capital city dwelling values increasing by –8.8% last year –12.7% last year 10.8% over the year ending December 2016, which is a higher pace of capital gains than the previous year when dwelling values rose by 7.8%. Although home values are continuing to trend higher, the pace of capital gains remains below the cyclical highs recorded over the year ending July 2015, when capital city dwelling values increased by Perth 11.1%. Based on the most recent growth in dwelling values, as well as the addition of new dwellings, CoreLogic estimates the total value of residential dwellings across Australia reached $6.8 trillion at the end of December 2016. Houses Units The trend in capital gain has been diverse across the regions and Median Price $512,000 $405,000 housing types. Dwelling values increased 15.5% in Sydney over the year, which was the strongest rate of annual value growth Growth –4.4% –3.2% amongst the capital cities, while Melbourne came in a close second with 13.7% growth. Hobart and Canberra have shown some 62 this year 65 this year Days on Market acceleration in their rate of growth over the past year with dwelling 52 last year 67 last year values increasing by 11.2% and 9.3% respectively. Values also increased over the year ending December 2016 across Adelaide –7.9% this year –10.2% this year Discounting (4.5%), Brisbane (3.6%) and Darwin (0.9%). With Darwin dwelling –6.8% last year –8.5% last year values demonstrating some moderate growth in the December quarter, the annual rate of growth returned to positive territory for the first time since February 2015. Perth was the only capital city to see a decrease in dwelling values, down 4.3% over the year.

The outlook for 2017 is continued diversity in housing market Adelaide performance across the regions and product types. A record number of dwellings were approved for construction last year, particularly across the inner city unit markets of the larger capital

cities. Higher supply may contribute to a slower rate of value Houses Units appreciation over the year, however we are also seeing some Median Price $448,000 $356,500 barriers to the market from housing affordability and changes to mortgage rates. While Sydney and Melbourne have stood out for Growth 4.5% 1.1% their high rates of capital gain since mid-2012, some of the smaller capital cities and regional markets are now showing a trend towards 49 this year 49 this year Days on Market accelerating housing market conditions. Regional areas linked to the 44 last year 48 last year mining sector have demonstrated very weak conditions, however higher commodity prices and stabilizing housing demand may see –6.2% this year –6.3% this year these areas show a healthier performance over the coming year. Discounting –5.4% last year –5.9% last year Although mortgage rates have recently shown some subtle upward movements recently, it is likely that interest rates will remain historically low for the foreseeable future, which should keep a floor Note: ‘this year’ = November 2016, ‘last year’ = November 2015 under housing demand during 2017. Median price figures & growth figures are to December 2016 All statistics based on the CoreLogic indices to December 31, 2016 2 Brisbane Houses Units

Median Price $520,000 $390,000 Growth 4.0% –0.2%

47 this year 67 this year Days on Market 40 last year 47 last year

–5.2% this year –5.3% this year Discounting –5.7% last year –5.5% last year

ACT Sydney Houses Units Houses Units

Median Price $660,000 $425,000 Median Price $991,000 $722,600 Growth 9.6% 5.1% Growth 16.7% 9.6%

30 this year 48 this year 30 this year 30 this year Days on Market Days on Market 38 last year 60 last year 31 last year 29 last year

–4.5% this year –3.8% this year –4.7% this year –4.7% this year Discounting Discounting –3.5% last year –5.6% last year –5.9% last year –4.9% last year

Melbourne Hobart Houses Units

Median Price $720,000 $507,200 Houses Units Growth 15.1% 1.7% Median Price $375,000 $280,000

29 this year 32 this year Growth 11.7% 6.7% Days on Market 30 last year 37 last year 34 this year 34 this year Days on Market 43 last year 31 last year –4.3% this year –5.0% this year Discounting –5.9% last year –5.6% last year –6.1% this year –5.3% this year Discounting –6.4% last year –4.8% last year

3 NEW SOUTH WALES

Sydney leads country for growth

Sydney’s dwelling values increased 2.4% over the final quarter of over the 12 months ending December 2015, however growth is 2016 and 15.5% over the year ending December 2016, with its not quite as substantial as the peak seen over the year ending July consistent strong rate of annual growth outperforming the other 2015 (18.4%). House values in Sydney saw the most significant state capitals. The annual rate of capital gain has rebounded performance over the year, with values increasing by 16.7% while compared with last year when dwelling values increased by 11.5% unit values increased by 9.6%.

Sydney’s performance over time

Sydney Median Price $1,000,000 Houses Units Dwellings $900,000 $800,000

$700,000 Houses Units $600,000 $500,000 Median Price $991,000 $722,600 $400,000 $300,000 Quarterly change 2.7% 1.0% $200,000 12 months change $100,000 16.7% 9.6% $0 5 year total change 72.1% 51.0% JUN-08 JUN-10 JUN-16 JUN-11 JUN-07 JUN-09 JUN-12 JUN-13 JUN-15 JUN-14 DEC-09 DEC-16 DEC-10 DEC-07 DEC-08 DEC-11 DEC-12 DEC-14 DEC-15 DEC-13 DEC-06 10 year total change 107.3% 86.1% Source: CoreLogic

Sydney’s best performers

Rank Suburb Rank Suburb

1 HALEKULANI $437,000 61 16.5% 1 BERKELEY VALE $310,000 32 32.8%

$ 2 GOROKAN $412,500 198 10.0% $ 2 TOUKLEY $355,000 38 24.1% Affordable Affordable 3 SAN REMO $385,000 109 10.0% 3 KATOOMBA $365,000 13 14.1%

1 WILBERFORCE $890,000 45 25.4% 1 AVOCA BEACH $695,000 34 19.8%

$$ 2 ELIZABETH HILLS $940,000 33 24.5% $$ 2 TERRIGAL $685,000 129 18.1% Mid–range Mid–range

3 MACQUARIE LINKS $970,000 22 16.2% 3 ULTIMO $747,500 215 17.7%

1 ROSE BAY $3,725,000 73 20.2% 1 POINT PIPER $2,875,000 27 49.4%

$$$ 2 VAUCLUSE $4,405,000 129 16.1% $$$ 2 FAIRLIGHT $1,285,500 76 38.1% Prestige Prestige

3 BELLEVUE HILL $4,575,000 97 15.8% 3 MILLERS POINT $1,795,000 43 33.0%

Rolling Median Price (12 months) Number sold (12 months) 12 month change in median price

Affordable = suburbs below 25th percentile Mid–range = suburbs between 25th and 75th percentile Prestige = suburbs above 75th percentile 4 Median prices across Sydney

Source: CoreLogic 5 NEW SOUTH WALES

How Sydney and NSW regions compare

Lower range (25th percentile) Median price (50th percentile) Upper range (75th percentile)

Number Days on 12 month

$0.5m $1.0m $1.5m $2.0m $2.5m $3.0m $3.5m $4.0m sold Market growth Eastern Suburbs 1,977 36 13.8% Lower Northern Sydney 2,447 38 5.1% Inner Western Sydney 1,260 39 4.7% Northern Beaches 2,668 30 10.5% Inner Sydney 2,504 31 7.9% Central Northern Sydney 5,411 39 4.2% St George-Sutherland 3,914 38 3.0% Canterbury-Bankstown 3,196 46 1.7% Central Western Sydney 3,009 43 0.0% Fairfield-Liverpool 3,538 51 4.6% Blacktown 4,182 35 6.0% Outer South Western Sydney 4,675 28 7.5% Wollongong 3,849 31 11.3% Outer Western Sydney 5,284 31 5.9% Queanbeyan 752 83 1.8% Central Coast 6,470 33 9.6% Tweed Heads & Tweed Coast 1,097 56 8.7% Illawarra SD Bal 3,270 58 13.4% Richmond-Tweed SD Bal 2,591 81 8.2% Port Macquarie 826 37 10.2% Newcastle 10,379 44 5.8% Coffs Harbour 831 60 7.5% Lower South Coast 1,733 97 5.2% Nowra-Bomaderry 788 46 9.6% Hunter SD Bal 2,122 97 1.3% Bathurst 726 64 4.5% Hastings (excl. Port Macquarie) 2,564 71 4.7% Clarence (excl. Coffs Harbour) 2,261 75 7.1% Southern Tablelands (excl. Queanbeyan) 1,673 76 5.0% Orange 894 77 2.6% Dubbo 732 53 4.5% Wagga Wagga 1,110 83 6.3% Lismore 584 72 0.0% Albury 985 69 0.6% Tamworth 772 84 –1.6% Northern Slopes (excl. Tamworth) 780 102 8.1% Northern Tablelands 1,216 108 0.0% Central Tablelands (excl. Bathurst & Orange) 1,189 75 3.6% Central Macquarie (excl. Dubbo) 907 109 6.5% Lower Murrumbidgee 672 77 4.2% Snowy 416 119 –9.4% North Central Plain 339 125 –9.6% Central Murray 527 91 –3.8% Central Murrumbidgee (excl. Wagga Wagga) 977 103 9.3% Murray-Darling 194 77 7.8% Upper Murray (excl. Albury) 413 106 1.9% Lachlan 1,058 94 –0.5% Upper Darling 110 104 7.3% Macquarie-Barwon 225 126 21.7% Far West 297 131 –20.8%

6 Prices grow in coastal regions

The regional areas of the New South Wales are now largely seeing Only six regions of the state have recorded falls in median house increases in median selling prices. The coastal markets linked to prices over the past year, with these regions all located away from the lifestyle sector in particular have tended to record the greatest the coastline. With the popularity of lifestyle properties increasing, increases in median prices over the past 12 months. These regions there is an expectation of further price growth in these markets over include Wollongong, Nowra, Tweed Heads and Port Macquarie. the coming year.

Median prices across regional NSW

Source: CoreLogic

Regional NSW best performers

Rank Suburb Rank Suburb 1 TRUNDLE $130,000 12 30.0% 1 INVERELL $215,000 12 16.2% $ 2 BARADINE $110,000 12 29.4% $ 2 LAVINGTON $165,000 93 11.5% Affordable Affordable 3 NYNGAN $135,000 39 17.9% 3 EAST TAMWORTH $219,500 28 10.2% 1 BRAIDWOOD $455,000 47 25.5% 1 BOOMERANG BEACH $355,000 24 34.0% $$ 2 BODALLA $450,000 16 24.3% $$ 2 WARATAH $400,125 32 18.6% Mid–range Mid–range 3 CLARENCE TOWN $440,000 48 17.3% 3 YAMBA $353,500 99 18.4% 1 SUTTON FOREST $1,222,500 10 43.8% 1 NEWCASTLE EAST $1,140,000 21 39.0% $$$ 2 NEWCASTLE EAST $1,202,500 10 35.8% $$$ 2 LENNOX HEAD $607,500 84 18.0% Prestige Prestige 3 THE JUNCTION $1,231,000 13 28.6% 3 BALGOWNIE $615,000 32 16.0%

Rolling Median Price (12 months) Number sold (12 months) 12 month change in median price

Affordable = suburbs below 25th percentile Mid–range = suburbs between 25th and 75th percentile Prestige = suburbs above 75th percentile 7 VICTORIA

Houses drive price growth in Melbourne

Over the December quarter, home values in Melbourne increased growth seen over the 12 months to September 2015. Concerns by 2.4%. House values rose by 2.8% over the quarter, however, around unit supply appear to be weighing down the rate of capital unit values saw a decrease of –1.8%. Overall, dwelling values gain across the unit market, with house values continuing to rise at remained strong over 2016, with values increasing by 13.7%. a higher rate of growth compared to units. House values were up Although growth rates showed strength in the year ending 15.1% over the year while unit values increased at a much slower December 2016, the pace of growth remains lower than its peak rate of 1.7%.

Melbourne’s performance over time

Melbourne Median Price $800,000 Houses Units Dwellings $700,000

$600,000

$500,000 Houses Units

$400,000 Median Price $720,000 $507,200 $300,000 Quarterly change 2.8% –1.8% $200,000

$100,000 12 months change 15.1% 1.7% $0 5 year total change 46.8% 16.5% JUN-07 JUN-08 JUN-09 JUN-10 JUN-11 JUN-12 JUN-13 JUN-14 JUN-15 JUN-16 DEC-06 DEC-07 DEC-08 DEC-09 DEC-10 DEC-11 DEC-12 DEC-13 DEC-14 DEC-15 DEC-16 10 year total change 115.2% 70.9% Source: CoreLogic

Melbourne’s best performers

Rank Suburb Rank Suburb

1 DIGGERS REST $315,775 42 17.0% 1 ALBION $278,500 41 29.5%

$ 2 MELTON SOUTH $280,000 212 14.3% $ 2 MELTON WEST $269,000 29 12.6% Affordable Affordable 3 FRANKSTON NORTH $330,000 144 13.8% 3 MELTON SOUTH $225,000 51 6.1%

1 FERNY CREEK $686,000 22 25.9% 1 SOUTH KINGSVILLE $506,000 20 22.4%

$$ 2 ST ANDREWS BEACH $685,000 34 24.5% $$ 2 MOOROOLBARK $485,000 85 20.4% Mid–range Mid–range

3 SUNSHINE $647,250 133 24.5% 3 BONBEACH $510,000 71 18.6%

1 HAWTHORN $2,000,000 180 25.0% 1 BRIGHTON $932,000 253 20.3%

$$$ 2 CAULFIELD NORTH $1,971,000 116 9.5% $$$ 2 ASHWOOD $770,000 56 18.5% Prestige Prestige

3 BRIGHTON $2,400,000 301 9.1% 3 BOX HILL SOUTH $785,000 49 13.9%

Rolling Median Price (12 months) Number sold (12 months) 12 month change in median price

Affordable = suburbs below 25th percentile Mid–range = suburbs between 25th and 75th percentile Prestige = suburbs above 75th percentile 8 Median prices across Melbourne

Source: CoreLogic 9 VICTORIA

How Melbourne and VIC regions compare

Lower range (25th percentile) Median price (50th percentile) Upper range (75th percentile)

Number Days on 12 month

$0.5m $1.0m $1.5m $2.0m $2.5m $3.0m sold Market growth Boroondara City 1,905 36 4.1% Inner Melbourne 2,422 31 10.0% Southern Melbourne 4,614 31 11.2% Eastern Middle Melbourne 4,856 36 6.4% Northern Middle Melbourne 2,948 30 13.4% Moreland City 1,711 30 10.8% Eastern Outer Melbourne 3,207 24 8.5% Western Melbourne 5,697 32 10.9% Mornington Peninsula Shire 3,894 34 7.6% Greater Dandenong City 1,496 36 15.2% East Barwon 1,797 70 5.3% Yarra Ranges Shire Part A 2,235 19 11.9% Northern Outer Melbourne 3,101 36 9.9% Frankston City 2,370 19 11.5% South Loddon 533 64 0.4% South Eastern Outer Melbourne 6,365 22 11.1% Hume City 2,985 34 9.1% Melton-Wyndham 6,200 32 10.0% Greater Geelong City Part A 3,162 40 2.7% East Central Highlands 706 57 4.0% West Gippsland 774 54 9.5% South Gippsland 1,632 97 6.5% Greater Bendigo City Part A 1,499 65 0.9% Warrnambool City 470 77 –2.4% Ballarat City 1,994 58 4.8% West Barwon 435 65 2.9% Wodonga 752 65 5.3% South West Goulburn 718 53 0.8% North Loddon 656 104 1.5% East Gippsland Shire 751 118 5.8% East Ovens-Murray 247 104 –1.8% West Ovens-Murray 438 56 0.0% Greater Shepparton City Part A 694 70 4.9% South Goulburn 465 101 3.5% North Goulburn 1,011 99 2.0% Mildura Rural City Part A 922 38 1.6% Hopkins 396 95 –5.8% Wellington Shire 716 88 2.6% Latrobe Valley 1,204 82 –1.4% East Mallee 381 63 2.6% South Wimmera 499 75 –0.3% Glenelg 401 119 5.4% West Central Highlands 234 81 –5.0% North Wimmera 200 89 4.7% West Mallee 117 111 –22.7%

10 More growth expected in Victorian regions

Outside of Melbourne, the rate of price growth has generally remote holiday/retirement hamlets, have generally seen the greatest been substantially more moderate. Unlike in New South Wales increases in median house prices over the past 12 months. With where growth has spilled out of Sydney into surrounding regions, the cost of housing in Melbourne continuing to rise, we could the same does not seem to be happening in Victoria. In fact, the see a more rapid escalation in prices in regional areas of Victoria Gippsland and East Gippsland regions, that are very much more throughout 2017.

Median prices across regional VIC

Source: CoreLogic

Regional VIC best performers

Rank Suburb Rank Suburb 1 EDENHOPE $143,500 21 30.5% 1 KYABRAM $195,000 23 21.9% $ 2 OUYEN $125,000 22 25.0% $ 2 MILDURA $186,000 133 9.4% Affordable Affordable 3 WEDDERBURN $134,500 10 22.3% 3 COBRAM $185,000 15 8.8% 1 WAHGUNYAH $325,000 17 44.4% 1 PAYNESVILLE $275,000 22 41.0% $$ 2 BROWN HILL $345,000 64 29.6% $$ 2 ALFREDTON $305,000 13 31.7% Mid–range Mid–range 3 MIRBOO NORTH $295,000 27 26.9% 3 GOLDEN SQUARE $292,500 41 25.5% 1 FAIRHAVEN $1,000,000 17 31.6% 1 POINT LONSDALE $595,000 16 25.3% $$$ 2 TORQUAY $657,000 313 8.6% $$$ 2 PORT FAIRY $410,000 14 25.2% Prestige Prestige 3 BARWON HEADS $830,000 104 8.5% 3 NEWTOWN $420,000 71 20.0%

Rolling Median Price (12 months) Number sold (12 months) 12 month change in median price

Affordable = suburbs below 25th percentile Mid–range = suburbs between 25th and 75th percentile Prestige = suburbs above 75th percentile 11 QUEENSLAND

Concerns about units slow growth in Brisbane

Brisbane’s housing market remained relatively sedate over 2016, while unit values decreased over the December quarter (–0.6%) with home values increasing at a much slower rate compared to and where down 0.2% over the 12 months. Concerns around the the larger capital cities. Dwelling values increased moderately over supply of units across Brisbane’s inner city appears to be weighing the December quarter, rising 1.8%, and shifting 3.6% higher over down the rate of growth in this sector, however, unit approvals the past 12 months. House values increased 2.1% over the quarter suggest a peak in new supply is likely to transpire later this year and remained reasonably consistent over the 12 months (4.0%), or in 2018.

Brisbane’s performance over time

Brisbane Median Price $600,000 Houses Units Dwellings $500,000

$400,000 Houses Units

$300,000 Median Price $520,000 $390,000

$200,000 Quarterly change 2.1% –0.6%

$100,000 12 months change 4.0% –0.2% $0 5 year total change 19.4% 2.8% JUN-07 JUN-08 JUN-09 JUN-10 JUN-11 JUN-12 JUN-13 JUN-14 JUN-15 JUN-16 DEC-06 DEC-07 DEC-08 DEC-09 DEC-10 DEC-11 DEC-12 DEC-13 DEC-14 DEC-15 DEC-16 10 year total change 40.6% 27.1% Source: CoreLogic

Brisbane’s best performers

Rank Suburb Rank Suburb

1 RUSSELL ISLAND $186,000 143 9.4% 1 CABOOLTURE $216,000 97 10.8%

$ 2 GAILES $260,000 29 9.2% $ 2 BEENLEIGH $219,000 82 10.2% Affordable Affordable 3 EASTERN HEIGHTS $287,500 82 8.5% 3 EAGLEBY $233,750 83 6.7%

1 WOORIM $547,500 24 28.7% 1 DARRA $405,000 69 22.7%

$$ 2 BURPENGARY EAST $520,000 115 13.7% $$ 2 SUNNYBANK HILLS $383,500 50 10.2% Mid–range Mid–range

3 BANYO $532,500 105 13.3% 3 SANDSTONE POINT $409,950 27 9.3%

1 TENERIFFE $1,900,000 14 28.8% 1 WOODY POINT $552,500 80 49.2%

$$$ 2 ROBERTSON $1,077,000 38 26.7% $$$ 2 ROCKLEA $550,000 11 35.1% Prestige Prestige

3 NEW FARM $1,675,000 65 21.8% 3 MURARRIE $578,750 96 18.1%

Rolling Median Price (12 months) Number sold (12 months) 12 month change in median price

Affordable = suburbs below 25th percentile Mid–range = suburbs between 25th and 75th percentile Prestige = suburbs above 75th percentile 12 Median prices across Brisbane

Source: CoreLogic 13 QUEENSLAND

How Brisbane and QLD regions compare

Lower range (25th percentile) Median price (50th percentile) Upper range (75th percentile)

Number Days on 12 month

$0.2m $0.4m $0.6m $0.8m $1.0m $1.2m $1.4m sold Market growth Inner Brisbane 679 42 4.4% Northwest Inner Brisbane 2,602 34 3.9% Southeast Inner Brisbane 2,546 30 5.0% Gold Coast East 2,359 39 4.9% Southeast Outer Brisbane 4,191 28 4.8% Gold Coast SD Bal 89 90 27.8% Northwest Outer Brisbane 5,707 29 5.0% Gold Coast West 5,501 33 5.8% Sunshine Coast 4,551 45 4.9% Sunshine Coast SD Bal 2,094 72 2.9% Redland City 2,929 43 3.1% Pine Rivers 3,409 32 4.3% Redcliffe 1,050 43 6.5% Cairns 2,188 55 –1.0% Logan City 5,157 37 3.9% Caboolture 3,130 53 1.9% Toowoomba 2,202 49 –0.7% Lower West Moreton 1,390 85 –2.6% Townsville City Part A 1,211 60 –3.5% Gladstone 342 74 –10.3% Hervey Bay 1,267 78 1.0% Townsville City Part B 835 80 –2.9% Mackay 794 73 –10.8% Ipswich City 3,477 43 0.3% Far North SD Bal 1,416 100 –3.0% Fitzroy SD Bal 934 109 –7.9% Mackay SD Bal 716 106 –13.7% Somerset 446 96 –7.2% Rockhampton 883 75 –3.3% Bundaberg 935 58 –0.5% Darling Downs SD Bal 1,516 90 0.0% Wide Bay–Burnett SD Bal 2,589 88 –1.4% Northern SD Bal 538 104 –7.2% North West 145 79 –20.6% South West 165 113 –16.3% Central West 108 119 –5.3%

14 SE corner is the poster child for growth Median prices across regional QLD

Regional Queensland is a real mixed bag when it comes to price growth. Areas of the state in the south-east corner are generally seeing prices increase, with some areas seeing greater escalation than Brisbane. Once you move outside of the south-east corner, selling prices have generally fallen over the past 12 months. After a number of successive years of price falls in mining and resource related areas, some of these markets have seen further double-digit declines in selling prices again throughout 2016.

Over the next 12 months we would expect that prices will continue to rise in the south-east corner of the state, supported by an upswing in net interstate migration. Outside of this region, the mining and resource related regions are expected to see their rate of decline slow, however, most regional areas of Queensland are expected to see little in the way of price growth in 2017.

Source: CoreLogic

Regional QLD best performers

Rank Suburb Rank Suburb 1 TEXAS $160,000 19 39.1% 1 BEAUDESERT $227,000 11 40.1% $ 2 EAST INNISFAIL $200,000 24 17.6% $ 2 STAPYLTON $210,750 30 33.8% Affordable Affordable 3 MURGON $161,500 26 16.4% 3 KOORALBYN $160,000 23 18.1% 1 BARLOWS HILL $457,250 12 27.0% 1 TOOWOOMBA CITY $327,500 10 27.9% $$ 2 WITHCOTT $435,000 33 20.0% $$ 2 OONOONBA $335,000 29 26.4% Mid–range Mid–range 3 JACOBS WELL $477,000 37 19.3% 3 YATALA $376,200 19 25.2% 1 MINYAMA $1,042,500 44 29.9% 1 NOOSA HEADS $650,000 273 23.8% $$$ 2 BROADBEACH WATERS $1,050,000 215 26.4% $$$ 2 RUNAWAY BAY $490,000 203 15.3% Prestige Prestige 3 BUNDALL $1,000,000 108 19.5% 3 HOLLYWELL $685,000 24 14.4%

Rolling Median Price (12 months) Number sold (12 months) 12 month change in median price

Affordable = suburbs below 25th percentile Mid–range = suburbs between 25th and 75th percentile Prestige = suburbs above 75th percentile 15 SOUTH AUSTRALIA

Adelaide eases after steady growth

Home values in Adelaide have increased by 4.2% over the past a consistent period of moderate capital gains across the Adelaide 12 months, however, dwelling values fell by 1.5% over the final market. The past 12 months has seen house values rise at a quarter of the year – with house values falling by 1.6% and unit faster pace than unit values, with an increase of 4.5% and 1.1% values falling by 0.4%. The weak result in December comes after respectively over the year.

Adelaide’s performance over time

Adelaide Median Price $600,000 Houses Units Dwellings $500,000

$400,000 Houses Units

$300,000 Median Price $448,000 $356,500

$200,000 Quarterly change –1.6% –0.4%

$100,000 12 months change 4.5% 1.1%

$0 5 year total change 11.3% 5.1% JUN-07 JUN-08 JUN-09 JUN-10 JUN-11 JUN-12 JUN-13 JUN-14 JUN-15 JUN-16 DEC-06 DEC-07 DEC-08 DEC-09 DEC-10 DEC-11 DEC-12 DEC-13 DEC-14 DEC-15 DEC-16 10 year total change 41.1% 29.1% Source: CoreLogic

Adelaide’s best performers

Rank Suburb Rank Suburb

1 MUNNO PARA $257,000 65 15.8% 1 PARALOWIE $237,000 17 17.3%

$ 2 ELIZABETH PARK $217,500 75 8.8% $ 2 SALISBURY EAST $240,000 29 16.4% Affordable Affordable 3 ELIZABETH DOWNS $190,000 106 8.3% 3 GAWLER WEST $177,000 13 14.2%

1 GULFVIEW HEIGHTS $510,250 56 30.8% 1 LARGS NORTH $389,000 27 39.3%

$$ 2 COWANDILLA $500,000 19 19.0% $$ 2 PARADISE $345,000 20 27.5% Mid–range Mid–range

3 HAWTHORNDENE $513,750 67 14.8% 3 CAMPBELLTOWN $365,000 51 25.4%

1 NETHERBY $1,170,000 14 29.0% 1 HENLEY BEACH $565,000 67 49.7%

$$$ 2 TENNYSON $1,065,000 18 28.3% $$$ 2 GRANGE $569,250 40 43.8% Prestige Prestige

3 ROYSTON PARK $1,100,000 19 25.6% 3 LINDEN PARK $548,000 25 35.6%

Rolling Median Price (12 months) Number sold (12 months) 12 month change in median price

Affordable = suburbs below 25th percentile Mid–range = suburbs between 25th and 75th percentile Prestige = suburbs above 75th percentile 16 Median prices across Adelaide

Source: CoreLogic 17 SOUTH AUSTRALIA

How Adelaide and SA regions compare

Lower range (25th percentile) Median price (50th percentile) Upper range (75th percentile)

Number Days on 12 month

$0.2m $0.4m $0.6m $0.8m $1.0m sold Market growth Eastern Adelaide 3,489 56 5.6% Western Adelaide 3,499 48 5.3% Southern Adelaide 6,252 47 2.4% Mt Lofty Ranges 879 69 4.2% Fleurieu 1,321 92 2.7% Northern Adelaide 7,062 49 3.5% Barossa 680 93 –1.5% Lincoln 403 99 –2.6% Kangaroo Island 92 140 12.0% Yorke 656 133 –4.3% West Coast 79 120 –6.3% Whyalla 130 157 –4.1% Upper South East 304 117 22.7% Lower South East 869 100 –0.4% Murray Mallee 464 115 0.3% Lower North 422 116 –7.2% Riverland 506 93 1.8% Flinders Ranges 214 107 –15.0% Pirie 364 108 –3.3% Far North 74 111 9.2%

18 Quiet performance for regional SA Median prices across regional SA

Very few regions of South Australia outside of Adelaide have recorded increases in median house prices over the past year. Regions that have seen increases have largely been lifestyle markets surrounding Adelaide. Growth in Adelaide hasn’t been all that strong over recent years and the net outflow of population to other states, along with a relatively weak economy, continues to hold back regional South Australian property markets. In the short-term it doesn’t appear that any of these factors are set to change in 2017.

Source: CoreLogic

Regional SA best performers

Rank Suburb Rank Suburb 1 KEITH $146,500 30 33.2% $ 2 SOLOMONTOWN $149,500 25 22.0% 1 BERRI $100,000 34 14.0% Affordable 3 PINNAROO $100,000 19 21.2% 1 MAITLAND $220,000 23 24.3% $$ 2 WALLAROO MINES $250,000 10 23.5% 2 MOUNT BARKER $307,500 46 12.2% Mid–range 3 MENINGIE $199,000 26 22.5% 1 WOODSIDE $480,000 50 18.5%

$$$ 2 PORT ELLIOT $450,000 58 16.0% 3 MOUNT GAMBIER $175,500 126 9.7% Prestige 3 KERSBROOK $450,000 13 14.9%

Rolling Median Price (12 months) Number sold (12 months) 12 month change in median price

Affordable = suburbs below 25th percentile Mid–range = suburbs between 25th and 75th percentile Prestige = suburbs above 75th percentile 19 WESTERN AUSTRALIA

Perth continues to trend lower

Dwelling values across Perth have continued to trend lower since December 2016. The rise in dwelling values over the December values peaked in late 2014. The last time Perth recorded any quarter was recorded across both the house and unit sector, with annual growth in dwelling values was prior to May 2015, and Perth house values up by 2.9% and unit values increasing by 1.4%. While was the only capital city to report a decline in home values in the the improved market conditions are encouraging, it may be too 2016 calendar year. Dwelling values increased by 2.8% over the early to call the bottom of the cycle across this market until we see December quarter but were down 4.3% over the 12 months to consecutive quarters of consistent capital gain.

Perth’s performance over time

Perth Median Price $600,000 Houses Units Dwellings

$500,000

$400,000 Houses Units

$300,000 Median Price $512,000 $405,000

$200,000 Quarterly change 2.9% 1.4%

$100,000 12 months change –4.4% –3.2%

$0 5 year total change 4.1% 4.4% JUN-07 JUN-08 JUN-09 JUN-10 JUN-11 JUN-12 JUN-13 JUN-14 JUN-15 JUN-16 DEC-06 DEC-07 DEC-08 DEC-09 DEC-10 DEC-11 DEC-12 DEC-13 DEC-14 DEC-15 DEC-16 10 year total change 6.1% 8.6% Source: CoreLogic

Perth’s best performers

Rank Suburb Rank Suburb

1 WOOROLOO $460,000 11 10.8% 1 WAIKIKI $340,000 12 15.8%

$ 2 MUNDIJONG $457,500 14 9.7% $ 2 FORRESTFIELD $392,000 15 13.6% Affordable Affordable 3 EGLINTON $436,000 11 9.7% 3 BAYSWATER $334,000 31 9.5%

1 BOYA $675,000 11 38.7% 1 INGLEWOOD $440,000 23 15.0%

$$ 2 KALLAROO $753,500 74 15.9% $$ 2 ATTADALE $560,000 23 13.1% Mid–range Mid–range

3 WOODBRIDGE $625,000 15 13.6% 3 JOONDANNA $462,000 39 11.9%

1 SWANBOURNE $1,710,000 65 22.6% 1 MOUNT PLEASANT $727,000 18 21.8%

$$$ 2 SHENTON PARK $1,206,250 54 7.2% $$$ 2 SHENTON PARK $510,000 22 18.6% Prestige Prestige

3 CHURCHLANDS $1,370,000 46 6.1% 3 NORTH BEACH $587,500 12 14.1%

Rolling Median Price (12 months) Number sold (12 months) 12 month change in median price

Affordable = suburbs below 25th percentile Mid–range = suburbs between 25th and 75th percentile Prestige = suburbs above 75th percentile 20 Median prices across Perth

Source: CoreLogic 21 WESTERN AUSTRALIA

How Perth and WA regions compare

Lower range (25th percentile) Median price (50th percentile) Upper range (75th percentile)

Number Days on 12 month

$0.2m $0.4m $0.6m $0.8m $1.0m $1.2m $1.4m $1.6m $1.8m sold Market growth Central Metropolitan 1,600 42 –1.6% North Metropolitan 7,977 53 –4.1% South West Metropolitan 5,696 66 –4.1% Vasse 899 81 –5.7% South East Metropolitan 5,606 58 –2.6% East Metropolitan 4,293 60 –6.2% Fitzroy 157 73 –14.7% Moore 259 121 –2.4% Mandurah 1,791 75 –5.4% King 696 96 –3.6% Bunbury 993 96 –4.5% Gascoyne 94 124 –5.0% Preston 475 97 –1.4% Ord 33 74 –22.4% Kalgoorlie/Boulder City Part A 356 89 –5.8% Fortescue 284 73 –24.3% Geraldton 398 105 –6.6% Johnston 184 109 –7.6% Blackwood 210 111 –10.3% Greenough River 180 126 –3.6% De Grey 207 88 Avon 341 126 –5.7% Pallinup 103 87 5.9% Hotham 143 122 –11.1% Lakes 43 61 –18.7% Campion 119 101 –17.5% Lefroy 65 136 –29.2% Carnegie 25 33.3%

22 Slowdown in resources hurts regional WA Median prices across regional WA

Only two areas of regional Western Australia have seen an increase in median house prices over the past year. Western Australia continues to be hampered by the slowdown in resources and mining investment and a weakening economy. The outflow of Western Australian residents to other parts of the country also continues to hamper the housing market. The data shows that regional areas linked to the mining and resources sector continue to experience larger price declines than the coastal markets linked to lifestyle and agriculture.

Source: CoreLogic

Regional WA best performers

Rank Suburb Rank Suburb

1 BOUVARD $580,000 12 41.5% 1 KALBARRI $145,000 18 20.8%

2 PEMBERTON $250,000 23 38.9% 2 WEST BUSSELTON $380,000 29 1.3%

3 HOPETOUN $280,000 10 30.8% 3 N/A

Rolling Median Price (12 months) Number sold (12 months) 12 month change in median price

Affordable = suburbs below 25th percentile Mid–range = suburbs between 25th and 75th percentile Prestige = suburbs above 75th percentile 23 AUSTRALIAN CAPITAL TERRITORY

Confidence returns to ACT ACT’s performance over time

Improved economic conditions across the nation’s capital and a more positive consumer mindset are contributing to higher confidence in the housing market. Home values improved in Canberra over the final quarter of 2016, up by 0.2%, and also Houses Units increased over the 12 months to December by 9.3%. Median Price $660,000 $425,000

House values increased 0.2% over the quarter and were up 9.6% Quarterly change 0.2% 0.0% over the 12 months, while unit values were holding steady over the 12 months change quarter to be up 5.1% for the year. 9.6% 5.1% 5 year total change 17.6% 5.1%

10 year total change 48.9% 29.4%

Median prices across ACT ACT’s best performers

Rank Top Ranked Suburb

1 YARRALUMLA $1,425,000 38 24.5%

2 DEAKIN $1,200,000 45 24.4%

3 FORREST $2,320,000 18 20.2%

Rank Top Ranked Suburb

1 RED HILL $965,000 12 48.5%

2 YARRALUMLA $751,000 31 43.0%

3 BARTON $592,500 70 33.9%

Rolling Median Price (12 months) Number sold (12 months)

12 month change in median price

Source: CoreLogic

How ACT regions compare

Lower range (25th percentile) Median price (50th percentile) Upper range (75th percentile)

Number Days on 12 month

$200k $400k $600k $800k $1M $1.2M $1.4M $1.6M sold Market growth South Canberra 259 52 14.5% North Canberra 397 36 9.5% Woden Valley 305 49 3.3% Weston Creek-Stromlo 369 49 7.9% Gungahlin-Hall 961 43 6.9% Tuggeranong 998 52 2.9% Belconnen 1,032 42 4.7% 24 Great calculators at your fingertips.

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Strong growth for Hobart Hobart’s performance over time Dwelling values in Hobart have continued to increase at a higher rate over the December quarter (2.1%), taking values up 11.2% over the 2016 calendar year. House values increased 2.4% over the quarter and were up 11.7% over the year. This is a substantial acceleration in the rate of annual growth compared to the year Houses Units ending December 2015 when values reported a decline of 1.6%. Capital gains across the unit market haven’t been as strong, with Median Price $375,000 $280,000 Hobart unit values rising by 6.7% over the past 12 months. Quarterly change 2.4% –0.9%

12 months change 11.7% 6.7%

5 year total change 16.3% 21.4%

10 year total change 13.0% 35.8%

Median prices across Tasmania Tasmania’s best performers

Rank Top Ranked Suburb

1 HAWLEY BEACH $494,750 10 43.4%

2 NUBEENA $250,000 15 37.0%

3 SPREYTON $335,000 36 36.5%

Rank Top Ranked Suburb

1 TREVALLYN $225,000 11 25.0%

2 SORELL $277,500 32 20.7%

3 WEST MOONAH $290,500 25 20.5%

Rolling Median Price (12 months) Number sold (12 months)

12 month change in median price

Source: CoreLogic

How Tasmanian regions compare

Lower range (25th percentile) Median price (50th percentile) Upper range (75th percentile)

Number Days on 12 month

$100k $200k $300k $400k $500k sold Market growth Greater Hobart 3,551 31 2.3% Southern 951 101 3.6% Greater Launceston 1,743 51 1.8% North Western Rural 441 93 -3.5% Burnie-Devonport 1,370 92 -0.4% Central North 544 89 2.2% North Eastern 329 120 2.4%

Lyell 152 101 1.3% 26 NORTHERN TERRITORY

Darwin market starts to improve Darwin’s performance over time

Over the December quarter, the Darwin housing market saw some improvement. Dwelling values moved back into positive growth territory over the past 12 months, edging 0.9% higher over the Houses Units 2016 calendar year. This is the first sign of a strengthening in values since March 2015. Although the subtle annual rise in dwelling Median Price $515,000 $460,000 values is encouraging, the statistical trend in Darwin’s housing Quarterly change market can be volatile and we would like to see further consistent 3.7% 15.4% capital gains before suggesting the housing market has moved 12 months change –0.2% 5.7% through the full extent of the downturn. 5 year total change 9.5% 18.9%

10 year total change 47.0% 48.3%

Median prices across NT NT’s best performers

Rank Top Ranked Suburb

1 COSSACK $542,500 13 32.3%

2 THE GAP $415,000 10 20.3%

3 LUDMILLA $733,000 13 19.1%

Rank Top Ranked Suburb

1 EAST SIDE $322,500 21 15.6%

2 GILLEN $300,000 17 14.3%

3 COCONUT GROVE $460,000 92 9.5%

Rolling Median Price (12 months) Number sold (12 months)

12 month change in median price

Source: CoreLogic

How NT regions compare

Lower range (25th percentile) Median price (50th percentile) Upper range (75th percentile)

Number Days on 12 month sold Market growth $100k $200k $300k $400k $500k $600k $700k $800k Litchfield 176 89 –5.6% Darwin City 603 86 –3.9% Central NT 249 85 0.0% Palmerston-East Arm 575 103 –23.8% Finniss 35 195 28.9% Lower Top End NT 100 113 –17.8% Barkly 20 –4.2% 27 Disclaimers

LJ Hooker Disclaimer This document is generated by our office to provide you with an indication of current property market trends. However, it is not intended to represent that we or any other member of the LJ Hooker Group (Group) is the listing or selling agent for any or all of the properties listed. We obtained the information from various third party sources; we have not independently checked the accuracy of that information and you should not rely on its accuracy without making your own investigations; to the maximum extent permitted by law the Group excludes all liability, loss or damage you might suffer or incur arising out of your reliance on this document. © LJ Hooker 2017.

CoreLogic Disclaimer © 2017 Copyright CoreLogic Ltd, Local, State, and Commonwealth Governments. All rights reserved. No reproduction, distribution or transmission of the copyrighted materials in this publication is permitted whether in whole or in part.

In compiling this publication, RP Data Pty Ltd trading as CoreLogic has relied upon information supplied by a number of external sources. CoreLogic does not warrant its accuracy or completeness and to the full extent allowed by law excludes liability in contract, tort or otherwise, for any loss or damage sustained by subscribers, or by any other person or body corporate arising from or in connection with the supply or use of the whole or any part of the information in this publication through any cause whatsoever and limits any liability it may have to the amount paid to CoreLogic for the supply of such information.

Queensland Data Based on or contains data provided by the State of Queensland (Department of Natural Resources and Mines) 2016. In consideration of the State permitting use of this data you acknowledge and agree that the State gives no warranty in relation to the data (including accuracy, reliability, completeness, currency or suitability) and accepts no liability (including without limitation, liability in negligence) for any loss, damage or costs (including consequential damage) relating to any use of the data. Data must not be used for direct marketing or be used in breach of the privacy laws.

South Australian Data This information is based on data supplied by the South Australian Government and is published by permission. The South Australian Government does not accept any responsibility for the accuracy or completeness of the published information or suitability for any purpose of the published information or the underlying data.

New South Wales Data Contains property sales information provided under licence from the Land and Property Information (“LPI”). RP Data is authorised as a Property Sales Information provider by the LPI.

Victorian Data The State of Victoria owns the copyright in the Property Sales Data which constitutes the basis of this report and reproduction of that data in any way without the consent of the State of Victoria will constitute a breach of the Copyright Act 1968 (Cth). The State of Victoria does not warrant the accuracy or completeness of the information contained in this report and any person using or relying upon such information does so on the basis that the State of Victoria accepts no responsibility or liability whatsoever for any errors, faults, defects or omissions in the information supplied.

Western Australian Data Based on information provided by and with the permission of the Western Australian Land Information Authority (2014) trading as Landgate.

Australian Capital Territory Data The Territory Data is the property of the Australian Capital Territory. No part of it may in any form or by any means (electronic, mechanical, microcopying, photocopying, recording or otherwise) be reproduced, stored in a retrieval system or transmitted without prior written permission. Enquiries should be directed to: Director, Customer Services ACT Planning and Land Authority GPO Box 1908 Canberra ACT 2601.

Tasmanian Data This product incorporates data that is copyright owned by the Crown in Right of Tasmania. The data has been used in the product with the permission of the Crown in Right of Tasmania. The Crown in Right of Tasmania and its employees and agents:

a) give no warranty regarding the data’s accuracy, completeness, currency or suitability for any particular purpose; and b) do not accept liability howsoever arising, including but not limited to negligence for any loss resulting from the use of or reliance upon the data.

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