Claremont & North Fremantle
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MARKET OUTLOOK CLAREMONT & NORTH FREMANTLE Featuring outstanding schools, entertainment and recreational opportunities, serviced by major public transport infrastructure to metropolitan retail and employment areas, Claremont and North Fremantle are two of Perth's premium residential locations. 01 Perth's Premium Suburbs 03 Demographics & Lifestyle 05 Sales & Rental Analysis Prepared exclusively for Mirvac September 2017 PERTH, CLAREMONT & NORTH FREMANTLE PERTH Perth is Australia’s western gateway and the country’s closest and most accessible capital city to the world’s strongest economic growth regions. It has consistently ranked as one of the most liveable cities in the world and the most affordable of Australia's major cities. HOUSE PRICE AFFORDABILITY IMPORTANT TIMEZONE Perth shares an approximate time zone with 60% of the Sydney Melbourne Brisbane Perth world’s population. Perth's proximity to South-East Asia 80 provides a valuable strategic advantage. 70 Affordability Tokyo Deteriorating 60 Shanghai 50 New Delhi Hong Kong 40 Index 30 Kuala Lumpur Singapore 20 Affordability Improving 10 Jakarta 0 Dec ‘96 Dec ‘00 Dec ‘04 Dec ‘08 Dec ‘12 Dec ‘16 1 hour time zone 5 hour business Perth time zone Prepared by Urbis; Source: ABS Source: Department of State Development NATIONAL UNIT COMPARISON INFRASTRUCTURE INVESTMENT The West Australian Government has a substantial program of infrastructure development over the next few years with a key focus on transport infrastructure and amenity building. Some of the projects include: Forrestfield Airport Link Perth Children’s Hospital – Forrestfield, $2 Billion – Nedlands, $1.2 Billion (Completion 2020) (Completion – 2018) Perth Stadium - Riverside Precinct – Burswood, $1.2 Billion East Perth, $141 Million (Completion 2018) (Completion 2020) New Museum Metronet Rail Network – Northbridge, $428 Million First Stage PERTH MELB SYD (Completion 2019) – Metropolitan wide, $2.5 Billion Median unit sale price* $415,000 $490,000 $705,000 Median asking rent* $350 $390 $510 Indicative gross WESTERN AUSTRALIA * 4.4% 4.1% 3.8% rental yield ACCOUNTED FOR 44% Average house- * $115,452 $96,263 $107,035 hold income OF THE TOTAL VALUE OF ALL GOODS EXPORTED *12 months to March '17 Source: APM PriceFinder March 2017, ABS Household and Income Survey 2014 FROM AUSTRALIA 2 Market Outlook Western Suburbs Claremont and North Fremantle are located within the premium catchment of Perth's metropolitan suburbs. These are comparable to Sydney’s Eastern Suburbs, North Shore and Northern Beaches. PERTH'S PREMIUM SUBURBS Located between the Perth CBD, Swan River and Indian business, political and community leaders and the key Ocean, Perth’s most premium riverfront residential areas of North Fremantle, Cottesloe, and Claremont suburbs are known as the Western Suburbs. form the core of a connected retail, entertainment and The area is known for its prime coastal strip and dining strip that attracts visitors from across the country. waterfront access and features some of Perth’s most The weighted average sale price of new apartments in valuable and sought after residential real estate. The the Western Suburbs in the first quarter of 2017 carried Western Suburbs are home to many of the state’s a 23% premium over Metropolitan Perth, reflecting the locational attributes of the area. EDUCATION Western Australia has a thriving and diverse education system, attracting people from all over the world. The University of Western Australia ranks among the top 1% of universities in the world. The Western Suburbs in particular have the highest ranking schools in Perth including: Presbyterian Ladies’ College Methodist Ladies’ College 2 Peppermint Grove 9 Claremont Christ Church Grammar School Scotch College 4 Claremont 16 Swanbourne St Hildas Anglican Girls School 14 Primary Schools 6 Mosman Park in Western Suburbs *Based on number median Australian Tertiary Admission Rank (ATAR) 2016 LIMITED SUPPLY PREMIUM VALUE TO METROPOLITAN AVERAGE New apartment development is constrained by land Western Suburbs and Metropolitan Perth availability with land holdings tightly held, resulting in Urbis’ Perth Apartment Essentials Q1 2017 highlights: limited development potential. (Note developments of 25 apartments or more are surveyed) Between 2017 and 2021, there are 16 projects totalling to 1,850 apartments in the Inner City development Metropolitan Perth pipeline. The Western Suburbs pipeline has seven projects totalling to 512 apartments for the same period. $670,737 While the Western Suburbs account for only 4.4% of Western suburbs active development in Perth, they capture 10% of the $826,495 market share of sales. The Western Suburbs features the majority of Perth 23% properties with a median house price in the top 4%. HIGHER 2016 2021 19 7 PERTH'S PREMIUM CATCHMENT, PROJECTS PROJECTS KNOWN AS THE WESTERN SUBURBS HAD THE SECOND HIGHEST WEIGHTED 2922 634 AVERAGE APARTMENT SALE PRICE APARTMENTS APARTMENTS ($826,495) OF ALL PERTH PRECINCTS Inner City Western Suburbs Source: Urbis Q1 2016- Q1 2017 Perth Apartment Essentials Prepared exclusively for Mirvac 3 CLAREMONT WALKABILITY & ACCESSIBILITY GREEN SPACE & RECREATION 01 Claremont Oval 02 Claremont Lawn Tennis Club 03 Claremont Aquatic Centre North Fremantle 28 40 27 04 Lake Claremont Golf Course Mosman Park 05 Lake Claremont 12 06 Cresswell Park 26 Peppermint 07 Rowe Park Grove 08 Claremont Park & Claremont 25 Bowling & Recreation Club 09 Claremont Yacht Club 10 10 Royal Freshwater Bay Yacht Club 11 Swan River 12 East Fremantle Yacht Club 13 Leighton Beach 11 14 Indian Ocean 15 Sea View Golf Club 16 09 Cottesloe Beach 29 17 Swanbourne Beach EDUCATION 18 St Thomas’ Primary School 19 Freshwater Bay Primary School University of Western Australia 3.2km 19 20 Christ Church Grammar School QEII Medical Precinct 4.5km 21 Methodist Ladies’ College Perth CBD 8.3km 08 22 Scotch College 23 North Cottesloe Primary School Bayview Terrace 24 Presbyterian Ladies’ College 25 St Hildas’s Anglican School for Girls 26 Iona Prentation College EMPLOYMENT 27 Port of Fremantle 30 28 Fremantle’s Central Business District 29 Bethesda Hospital RETAIL, DINING & ENTERTAINMENT 30 Stirling Highway, Claremont 31 Claremont Quarter Shopping Centre & Lifestyle Hub FREMANTLE RAILWAY LINE 32 Claremont Crescent (IGA X-press) 07 33 Eric Street Shopping Centre (IGA) 34 Marine Parade, Cottesloe 35 Napoleon Street, Cottesloe 36 Cottesloe Central (Woolworths) 37 Mosman Park Shopping Centre 38 Claremont Showground 18 39 Claremont Hotel 38 40 Fremantle 4 Market Outlook Western Suburbs CLAREMONT WALKABILITY & ACCESSIBILITY 13 14 37 15 Cottesloe 36 35 16 34 24 17 23 33 Swanbourne Station 21 Swanbourne 32 20 22 STIRLING HIGHWAY Claremont 31 St Quentin Avenue 39 06 Claremont Station 02 05 03 04 Reserve The Grandstand 01 Prepared exclusively for Mirvac 5 LEIGHTON WALKABILITY & ACCESSIBILITY 37 35 Claremont 20 10 29 18 19 08 Peppermint Grove 28 16 15 07 17 06 Mosman Park 05 09 04 31 FREMANTLE RAILWAY LINE 26 13 25 22 24 30 RETAIL, DINING 07 Cottesloe Central (Woolworths) EDUCATION & ENTERTAINMENT 08 Napoleon Street Precinct 12 North Fremantle Primary School 01 Bib and Tucker (Boatshed Market) 13 Beehive Montessori School 02 Coast at Port Beach 09 Mosman Park Shopping 14 Santa Maria College 03 Centre (Coles) Queen Victoria Street 15 Iona Presentation College 04 10 Claremont Quarter (David Jones) Marine Parade 16 St Hilda's Anglican School for Girls 05 11 The Orange Box Glyde Street 17 Presbyterian Ladies' College 06 572 Stirling Highway (IGA) 18 Methodist Ladies' College 6 Market Outlook Western Suburbs LEIGHTON WALKABILITY & ACCESSIBILITY 38 21 34 14 Attadale 33 32 East Fremantle Swan River 27 23 North Fremantle 12 STIRLING HIGHWAY PROPOSED FUTURE DEVELOPMENT 03 Latitude at Leighton 11 01 36 02 19 Christ Church Grammar School 26 Cottesloe Beach 34 Point Walter Golf Course 20 Scotch College 27 Swan Yacht Club 35 Kings Park and Botanic Garden 21 The University of Western Australia 28 Royal Freshwater Bay Yacht Club EMPLOYMENT GREENSPACE & RECREATION 29 Claremont Yacht Club 36 North Quay (Port of Fremantle) 22 Indian Ocean 30 Vlamingh Parkland 37 Queen Elizabeth II Medical Centre 23 Swan River 31 Buckland Hill 38 Perth CBD (21 mins drive) 24 Leighton Beach 32 Sea View Golf Club 25 Cable Station Artificial Surfing Reef 33 Mosman Park Golf Club Prepared exclusively for Mirvac 7 DEMOGRAPHICS & LIFESTYLE CLAREMONT NORTH FREMANTLE Located a short car, train or bus ride from the CBD North Fremantle offers proximity to the Swan River, and featuring high levels of amenity, Claremont is one Indian Ocean and direct connectivity and accessibility of the best connected locations in Perth. to local amenities. Claremont is serviced by major public transport North Fremantle is well connected to both the Perth and infrastructure, offering direct access to key metropolitan Fremantle CBDs providing direct access to key retail and retail as well as quality schools, entertainment and recreational activities. recreational opportunities within walking distance. Retail: There are numerous local retailers within the Retail: Claremont Quarter is the hub of Claremont. The suburb as well as ready access to boutique shopping on centre includes numerous retailers including David Jones, High Street in Fremantle and the iconic Cottesloe retail French Connection and Nike. Other retail options are strip on Napoleon Street. available on Stirling Highway and Claremont Crescent. Fremantle CBD: Is a major retail and employment hub Food and Beverage: Claremont has a variety of food