Throsby Area Profile
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THROSBY AREA PROFILE © MACRO PLAN DIMASO 3 PROPERTY GROUP © MACRO PLAN DIMASO CONTENTS WHY CANBERRA? PG 4 OVERVIEW OF THROSBY 3 PROPERTY GROUP PG 10 THROSBY AREA PROFILE DETAILED INVESTMENT PG 13 ANALYSIS THROSBY Growth and Regional Context Demographic Snapshot Property Market Indicators Context and Infrastructure Relevant Property Market Infrastructure 2 3 33 PROPERTY PROPERTY GROUPGROUP © MACRO PLAN DIMASO "CLEARLY CANBERRA IS GREAT FOR FAMILIES, AND ITS SUPERIOR PAY PACKETS ARE ATTRACTIVE FOR YOUNG PROFESSIONALS.” "CLEARLY CANBERRA IS GREAT FOR FAMILIES, AND ITS SUPERIOR PAY PACKETS ARE ATTRACTIVECommSec Senior FOR Economist YOUNG PROFESSIONALS.” Craig James CommSec Senior Economist Craig James WHY CANBERRA? Language Annual House Price Growth LanguageOther than English, the top three Canberra PercentageAnnualGrowing House Australia of PopulationPrice Growth Growth CANBERRA IS AUSTRALIA’S LARGEST INLAND CITY AND IS LOCATED ABOUT 170KM CANBERRA IS AUSTRALIA’S LARGEST INLAND CITY AND IS LOCATED ABOUT 170KM households are Mandarin, Arabic and SOUTH- WEST OF SYDNEY AND 410KM NORTH-EAST OF MELBOURNE. Other than English, the top three Canberra Growing Australia SOUTH-WEST OF SYDNEY AND 410KM NORTH-EAST OF MELBOURNE. Cantonese. 2.5 households are Mandarin, Arabic and Cantonese. 2.52.0 1 Mandarin The Capitalcapital city of Australia is well-known for Canberra is designed around five major town 2.01.5 its strong residential market which retains centres, which operate as micro cities within 21 ArabicMandarin value over the longer term. In the eighteen the larger capital city infrastructure. In 1.51.0 32 CantoneseArabic years since the June quarter of 2000, Canberra addition to the city centre, the town centres 1.00.5 house prices have only seen four minimal include Molonglo Valley, Belconnen, Gungahlin, 3 Cantonese drops, recording an increase over 66 of the Woden and Tuggeranong. 0.50.0 Population SA 72 quarters. NT WA VIC TAS ACT QLD While Canberra’s population is growing at 0.0 NSW PopulationCanberra’s total population is 415,916 and is Canberra is the seat of Parliament which a rapid rate, the surrounding regions of Ausrtalia SA NT WA VIC TAS ACT QLD expected to reach 437,032 by 2022. NSW has a significant impact on the stability of New South Wales also provide significant Canberra’s total population is 415,916 and is WHY CANBERA? Ausrtalia the residential housing market – the public population fluctuation on a daily basis. Located expected to reach 437,032 by 2022. WHY CANBERRA? Market stability WHY CANBERA? service offers stable employment to more approximately 30-45 minutes from Canberra, than 40% of the capital’s population ,in roles areas such as Queanbeyan, Googong, MarketIn the nearlystability eighteen years since the turn that are characterised by long-term tenure, Murrumbateman, Yass and Bungendore all of the century, Canberra’s house price has 415,916 437,032 In the nearly eighteen years since the turn above average wages and a work week which utilise the capital for employment and can increased in 66 of the 72 quarters – the capital provides ample time for leisure. grow the population on any given day to over of the century, Canberra’s house price has 415,916 437,032 offers a level of stability over the longer term, 800,000 people. increased in 66 of the 72 quarters – the capital THROSBY AREA PROFILE Year Population Avg Age which is rarely seen in other capital cities. offers a level of stability over the longer term, 2022 437,032 36 years When compared to the two major capital Centrally Located Year2027 Population469,015 37Avg years Age which is rarely seen in other capital cities. cities, Sydney and Melbourne, Canberra has CENTRALLY LOCATED 20222032 499,463437,032 3836 years When compared to the two major capital WRIGHT DENMAN PROSPECT AREA PROFILE experienced the highest percentage of growth 20272037 529,330469,015 3837 years cities, Sydney and Melbourne, Canberra has 20322042 499,463559,569 3839 years at 242.8% 2047 590,492 39 years experienced the highest percentage of growth GUNGAHLIN 2037 529,330 38 years 20422052 559,569621,492 4039 years at 242.8% BELCONNEN 20472057 652,053590,492 4039 years CANBERRA CITY 20522062 621,492681,187 4041 years Canberra displays the greatest strength over BRISBANE 2057 652,053 40 years the longer term WODEN 2062 681,187 41 years Canberra displays the greatest strength over Canberra has one of the fastest growing the longer term CBR SYD MEL SYDNEY TUGGERANONG populations in Australia which is largely driven % Growth CANBERRA Canberra has one of the fastest growing /15 Yrs 242.8% 241.3% 216.67% MELBOURNE by interstate and overseas migration and the CBR SYD MEL populations in Australia which is largely driven 2015 Median capital status as a regional city for the purpose of House% Growth Price $641,000 $ 1,150,357 $855,000 /15 Yrs 242.8% 241.3% 216.67% by interstate and overseas migration , and the skilled migration. Canberra is also experiencing 2015 Median capital status as a regional city for the purpose of House Price $641,000 $ 1,150,357 $855,000 a baby boom due to more young families and skilled migration. Canberra is also experiencing couples calling the capital home. The table below a baby boom due to more young families and shows the most recent percentage of population “NET OVERSEAS MIGRATION WAS THE MAIN CONTRIBUTOR IN THE ACT’S GROWTH AT couples calling the capital home. The table below growth for Australia and the capital cities.graph above 48%. NATURAL INCREASE AND NET INTERSTATE MIGRATION CONTRIBUTED 44% AND 8% shows the most recent percentage of population RESPECTIVELY. BOTH NET OVERSEAS MIGRATION AND NATURAL INCREASE WERE AT THE growth for Australia and the capital cities. HIGHEST LEVELS EVER EXPERIENCED IN A CALENDAR YEAR BY THE ACT” ABS Demography Director Anthony Grubb 5 © MACRO PLAN4 DIMASO 5 3 PROPERTY GROUP © MACRO PLAN DIMASO OVERVIEW OF THROSBY GUNGAHLIN CBD THROSBY This assessment provides a profile of the suburb suburb on the urban fringe/greenfield development: of Throsby. Located 6 minutes south of the young families on average incomes that own their Gungahlin CBD, 16 minutes north-east of the home with a mortgage or are renting. Belconnen CBD and the Canberra CBD. Throsby is bordered by Goorooyarroo Nature Reserve in In addition to the light rail, there are three bus HARRISON the south, and east, the Mulligans Flat Nature routes that service Throsby: the 58, 200 and 958. Reserve in the north and Harrison in the west. These routes connect Throsby to the Gungahlin CBD, Mitchell employment precinct and Canberra CBD. As Throsby is a new suburb and historical OF THROSBY OVERVIEW demographic data is not available, this profile To the east, residents can enjoy the Goorooyarroo considers the growth statistics for the adjacent Nature Reserve which borders New South Wales. suburb of Harrison. To the west, in the adjacent suburb of Harrison, are Mullion Park, Harrison District Playing Fields and Over the past five years the Harrison population has Gubur Dhaura Heritage Park. BELCONNEN CBD grown by 48.2 per cent overall, or an average annual THROSBY AREA PROFILE rate of 8.2 per cent, from 5,923 in 2013 to 8,775 by 2018. ACT Treasury projections expect the area to see an additional 6,085 residents by 2036. The demographic profile of the area reflects a WITHIN A 10 MINUTE DRIVE RESIDENTS CAN ACCESS: • Canberra Showgrounds • Canberra Indoor Rock Climbing CANBERRA CBD • Thoroughbred Park • Eight schools • Yowani Country Club • Nine childcare centres • Gungahlin Oval • Canberra Institute of Technology • Crace Hill Trig Station Gungahlin Campus 6 7 3 PROPERTY GROUP © MACRO PLAN DIMASO KEY FINDINGS DEMOGRAPHICS POPULATION GROWTH RENTAL YIELDS As Throsby is a new suburb and historical population data is not available, this profile considers the growth Over the period 2010 to 2019, rental yields for houses and units have firmed with a slight upward trend. As at statistics for the adjacent suburb of Harrison. The Harrison population was 8,775 in 2018, which had increased June 2019, implied yields were 5.4 per cent for units and 4.5 per cent for houses. by 48.2 per cent in five years. ACT Treasury projections expect the area to see an additional 6,085 residents by 2036. PROPERTY MARKET CONTEXT AND INFRASTRUCTURE DEMOGRAPHIC PROFILE POPULATION GROWTH The demographic profile of the area reflects a new growth suburb, with young families on average incomes that own their home with a mortgage or are renting. According to the ACT Land and Property Report for December 2018 (issued in June 2019), there were 171 dwellings under construction in Throsby and 535 dwelling sites waiting for construction to start. The median The median age of Harrison residents was 30 in 2016, below the Territory median age of 35. This is largely price for new dwellings in Throsby was $390,800 as at December 2018 and the median lot size was 420 m2. driven by a high proportion of 25–29 year olds and a low proportion of 55–84 year olds. OF THROSBY OVERVIEW Coupled families with children are the dominant household types at 41.6 per cent. This high level of activity is the result of an increase in planning activity in the inner-north that occurred in 2015 after the Government committed to light rail network. PROPERTY MARKET INDICATORS FUTURE PIPELINE DWELLING PRICES As at June 2019, there were ten major residential projects in the Throsby area, according to data from Cordell THROSBY AREA PROFILE Sales prices in the area have increased steadily over the period 2010 to 2019 at an annual average rate of 6.2 Connect. When completed these projects will deliver an additional 470 dwellings through to 2022.