December 2016

Bankwest First Time Buyer Deposit Report 2016 Introduction This research was prepared by CoreData for Bankwest. account eachmonth andearninterest onthisbasis. combined pre-tax income annuall Deposit savings timeshave been calculated onthebasisofafirst timebuyer couple setting aside20%oftheir Index, theReserveBankofAustralia(RBA)andResidex. Data hasbeensourcedfromtheAustralianBureauofStatistics(ABS)2011Census,ABSWagePrice incomes andlocalhousepricesthelevelofFirstHomeOwnersGrant,whereavailable,bystate. 2016. Thereportquantifieshowlongitwouldtakeafirsttimebuyertosave20%depositbasedonlocal buyers tosaveadepositin465localgovernmentareas(LGAs)acrossAustraliaoverthefiveyearsJune The eighthannualBankwestFirstTimeBuyerDepositReporttracksthetimeitwouldtakeforfirst y. Thecalculation assumesthesavings are deposited into anonlinesavings 2 • There are less than half as many first time buyers (FTBs) in Australia in 2016 (13.4%) as a proportion of total buyers than in 2009 (28.8%), as house price growth outstrips wage growth, locking many FTBs out of the market. • It is taking Australian FTB couples longer to save a deposit on a median priced house in every state and territory except WA compared to last year. • Australian FTB couples need to save for an average of 4.4 years for a deposit on a median priced house, on par with 4.2 years in the 12 months to June 2015. • In Sydney, FTB couples need to save for an average of 8.4 years for a deposit on a median priced house, six months longer than last year and the longest required savings time nationwide.

First time buyer deposit trends by state

Savings Years to save Years to save Years to save 20% needed for 20% house 20% house Change Change over State house deposit 20% house deposit deposit over 1 year 5 years (June 2015) deposit (June 2016) (June 2011) (June 2016) ACT Houses 4.3 4.1 4.3 0.2 0.0 $117,600 NSW Houses 5.7 5.3 4.3 0.4 1.4 $138,600 NT Houses 4.3 3.4 4.4 0.9 -0.1 $102,000 QLD Houses 4.0 3.9 3.9 0.1 0.1 $92,800 SA Houses 3.6 3.3 3.7 0.3 -0.1 $78,700 TAS Houses 2.8 2.8 3.0 0.0 -0.2 $57,200 VIC Houses 4.7 4.4 4.4 0.3 0.3 $108,900 WA Houses 3.5 3.6 3.7 -0.1 -0.2 $94,400 Australian Houses 4.4 4.2 3.9 0.2 0.5 $103,600

Australian FTB couples need to save for 4.4 years for a median priced house The eighth Bankwest First Time Buyer Report reveals that the average Australian FTB couple requires 4.4 years to raise a 20% deposit to buy a median priced house, two months longer than last year. This is based on an average combined salary of $116,0721 for two people aged 25-34, saving 20% of their pre-tax income in a high interest online savings account.

Australian FTB couples need an average of $103,600 in savings to put down a deposit on their first house in 2016, based on a median house value of $518,000 2 nationally. Although Australia’s median house value grew by 3.9% in the 12 months to June 2016, this was slower than 2015’s growth of 6.3%. Furthermore, variable-lending rates on owner-occupier housing loans have continued to fall to 5.25%3 and are notably lower than the 10-year average rate of 6.93%.

A lower housing mortgage rate allows prospective home owners to service their loan quicker, increasing the attractiveness of buying a home. However, a lower loan rate generally goes hand in hand with a lower return on savings accounts, which could negatively influence the home buying decision. House

1 ABS 6345 Wage Price Index data, June, 2016 (editor’s notes for more details on calculation) 2 Residex: Median Value and Sale Count Data, ending June 30 2016 3 RBA Indicator Lending Rates, August 2016 3 House ABS6345 WagePriceIndex ABS5609:12Month weightedaverageofFTB housing salestoJune2 removal ofthegrant. housing salesfellbyonly5.3%overthesameperiod,suggestingthatFTBsarefeelingpinchof Housing salesintheNorthernTerritory fellby43.0%overthe12monthstoJune2016,whilenonFTB $12,000 and$25,000forhomesvaluedunder$600,000. early 2015,whichmeantNorthernTerritory FTBcouplesnolongerhadaccesstothegrantofbetween The primarydriveroftheincreasewasremovalFirstHomeOwner’sGrantforestablishedhomesin (0.9 years)inthe12monthstoJune2016,4.3yearsfrom3.42015. The savingstimerequiredfortheaverageFTBcoupleinNorthernT for Tasmanian FTBcouples(2.8years,unchangedcomparedwith2015). 3.4 yearsrespectivelyin2015.Therequiredsavingstimeforadepositon the averageACTandNorthernTerritory FTBcouplerequiring4.3yearstosave,comparedwith4.1and It takesmorethanfouryearsfortheaverageFTBcoupletosaveadepositinbothofterritories,with Victoria comesinsecond,withanaveragesavingstimeof4.7years,upslightlyfrom4.4years2015. Territory. five monthscomparedwithlastyearandisthesecondlargestincreasenationwidebehindNorthern median priced NSW takesouttheunenviabletitleofstateinwhichitlongesttosavedepositrequiredfora buyers. the required depositamount, illustrating the countervailing influences that interest rates have onfirst year andwell below the10-year average of4.16%.Alower savings rate increases the time needed to reach The average onlinesavings account rate over thelast 12months is1.78%,d 6 5 4 lowest growthrateinfive years. in Sydneyof$79,500forthe 12monthstoJune2016,withwagegrowthfailing tokeepupat2.2%-the house, upfrom7.9yearsin 2015.Thisislargelydrivenbyan8.0%increaseinthe medianhousevalue It nowtakestheaverageSydneyFTBcouple8.4years tosavea$214,600depositonmedianpriced in allcapitalcitiestovaryingdegrees,exceptPerth, whereitremainsunchanged. cities hasincreased to 4.9 years from 4.5 years in2015.The average required savings timehasincreased Overall, theaverage savings time required for anFTB couple to buyamedianpricedhouseinthe capital FTB couples inSydney needto save for more thaneight years for first house RBA RetailDeposit andInterestRates,August2016-11-15 C S P Melb H Darwin Bris A Ad LGAName Territory y erth erth es average cities apital ustralian ustralian o d elaid b ney ney b art art an ourne ourne H e e H ouses H H ouses

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First timebuyerdeposittrendsincapitalcities e e Years to sav to Years (June 2015) 2015) (June 20% 20% d eposit eposit 3.8 4.1 4.1 4.5 7.9 5.8 3.4 3.6 3.6 h ouse ouse

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Melbourne trails Sydney, with the average required savings time for FTB couples sitting at 6.2 years, up slightly from 5.8 years in 2015. Hobart and Perth are the capital cities with the shortest time needed for first time buyer couples to save for a deposit on a median priced home (both 3.8 years), although savings time in Hobart has increased slightly from 3.4 years in 2015.

The extent of Sydney’s residential property market growth is illustrated by the fact that most (53%) Local Government Areas (LGAs) now require the average FTB couple to save for more than 10 years for a deposit on a median priced house, up from 44% in 2015. This proportion is also considerably higher than in Melbourne, where only 16% of LGAs require the average FTB couple to save for more than 10 years.

At the other extreme, Perth is the only capital city where the average required savings time for a house has not increased year-on-year (3.8 years, unchanged compared with last year), likely driven by a $19,000 fall in the median house value in 2016. The stark differences between the capital cities illustrate the two-speed nature of Australia’s economy and its effect on property prices and housing affordability.

Top 10 Australian LGAs where it takes the most time to save a house deposit

Years to save Years to save Years to save 20% Savings needed for 20% house 20% house LGA Name house deposit Region State 20% house deposit deposit deposit (June 2011) (June 2016) (June 2016) (June 2015) Peppermint Grove 19.7 20.2 20.3 Perth WA $686,300 Strathfield 17.9 16.2 11.1 Sydney NSW $410,800 Mosman 17.4 16.3 13.6 Sydney NSW $613,000 Woollahra 16.9 14.8 12.2 Sydney NSW $595,600 Waverley 15.9 14.2 11.3 Sydney NSW $492,700 Burwood 15.2 13.2 8.9 Sydney NSW $336,900 Hunters Hill 15.2 13.3 10.7 Sydney NSW $509,800 Manly 14.4 12.9 10.5 Sydney NSW $438,900 Willoughby 14.4 12.9 9.5 Sydney NSW $450,900 Boroondara 14.1 12.7 10.0 Melbourne VIC $387,200

Peppermint Grove holds onto title as the LGA nationwide where it takes longest to save for a house Peppermint Grove in Western Australia remains the LGA in which it takes the average FTB couple longest to save for a deposit on a median priced house (19.7 years). However, this is down from 20.2 years in 2015, likely driven by a decline in the median house value in the area, which fell by 4.5% in the year to June 2016. Peppermint Grove is the only LGA of the 10 requiring the longest to save for a house deposit where this is true. In contrast, the nine other LGAs have seen the average median house value increase 12.4% over the same period.

Strathfield (17.9 years for a required $410,800 deposit) and Mosman (17.4 years for a required $613,000 deposit) round out the top three LGAs in which it takes FTB couples longest to save for a deposit on a median priced house. House

5 Top 10 Australian LGAs where it takes the least time to save a house deposit

Years to save Years to save Years to save Savings needed 20% house 20% house 20% house for 20% house LGA Name Region State deposit deposit deposit deposit (June 2016) (June 2015) (June 2011) (June 2016) Paroo Shire 0.5 0.8 0.4 South West QLD $8,500 West Coast Council 0.5 0.7 0.4 Mersey-Lyell TAS $13,000 Central Darling 0.6 0.7 0.2 Far West NSW $13,300 Coolgardie 0.7 0.8 0.7 South Eastern WA $23,600 Isaac Regional 0.7 1.5 2.5 Central QLD $26,400 Coober Pedy 0.9 1.2 1.0 Northern SA $17,500 Urana 0.9 1.0 0.6 Murray NSW $18,100 Broken Hill 1.0 1.2 1.1 Far West NSW $22,100 Peterborough 1.0 1.2 1.0 Northern SA $16,700 Flinders Shire 1.0 1.2 0.9 North West QLD $23,500

Regional and rural LGAs offer easier pathway to first home The number of LGAs in Australia in which it takes the average FTB couple less than two years to save for a house deposit has remained stable at 21.1%. Compared with last year, Queensland has four extra LGAs where this is the case, while NSW has lost two LGAs in this cohort and South Australia has gained one.

Nationwide, close to three in 10 (30.3%) LGAs (141 out of 465) require the average FTB couple to save for more than four years for a deposit on a median priced house. Of these 141 LGAs, 111 are located in the capital cities. Furthermore, only 22.4% of LGAs in capital cities require a savings time of less than four years, down from 25.9% in the 12 months to June 2015. These findings suggest that regional and rural areas offer FTBs an easier route into the property market.

Paroo Shire in South West Queensland takes the mantle as the LGA requiring the shortest time for FTB couples, taking just 0.5 years or six months, down slightly from 0.8 years in 2015. The median house price in Paroo Shire fell by $30,000 in 2016 to $42,500, making it the easiest property market for FTB couples to enter, with only $8,500 required for a 20% deposit.

Paroo Shire is followed closely by West Coast Council in Tasmania (0.5 years for a required deposit of $13,000) and Central Darling in far western NSW (0.6 years for a required deposit of $13,300).

Two new LGAs entered the list of top 10 LGAs where it takes the shortest time to save, with seven of the eight LGAs reappearing from last year’s list showing a decrease in the required savings time for a deposit on a median priced house. In contrast, nine of the top 10 LGAs where it takes the longest time to save have experienced an increase in the required savings time compared with last year.

Annual number of First Time Buyers, Australia (2006-2016) 200000

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Source: ABS 6 House 16 20 15 20 14 20 7 13 20 12 20 7 11 20 10 20 09 20 08 20 07 First Home Buyers as % of total dwellings purchased, Australia (2006-2016) Australia purchased, dwellings total as % of Buyers Home First 20 06 20 % % % % % % 5% 0% 15 10 20 30 25 35 ABS 5609 7 can largely be explained by the removal of the Commonwealth Government’s $7,000 First Home Owners’ Home Owners’ $7,000 First Government’s of the Commonwealth the removal by be explained largely can prices. as rising property in 2009, as well Grant Looking at total dwellings financed, there has been a steady decline in the proportion of FTBs in Australia of FTBs in Australia decline in the proportion has been a steady financed, there dwellings total Looking at in 2016 than there buyers total of FTBs as a proportion less than half as many are since the 2009 peak. There This trend ago. years 28.8% five from down 13.4% of the market, making up just 2009, with FTBs now in were from 94,517 the previous 12 months, driven by the removal of the First Home Owners' Grant for established established for Grant Owners' Home of the First the removal by driven 12 months, 94,517 the previous from prices. with rising property coupled governments, some state homes by FTBs as a proportion of total dwelling sales in steady decline since 2009 peak decline since 2009 steady sales in dwelling total of FTBs as a proportion June 2016 to 90,939 in the year to 12 months, the last has declined over The number of FTBs in Australia Source: ABS Unit 8 towards asnoted inthe mediumdensityhousing, Although thesefigures represent allpurchases ofdwellings (notjust FTBs),itreflects thenationwide trend Sales for unitsincreased by 5.4%,whilehousesalesincreased just 0.8%inthe12months to June2016. to save 20%oftheircombined income for 3.5years for an$85,100deposit,onparwith2015(3.3years). On average, anAustralian FTBcouple looking to purchase amedianpricedunitinthecapital cities would need It takes three years lessto save for aSydney unitthanaSydney house Hobart (2.7years). their first unit,followed by Brisbane(3.3years), Perth (3.2years), (3.1years), Darwin Canberra (3.0years) and longest required timenationwide. Melbourne comesinsecond, with couplesneeding4.3 years to save for On average, FTBcouples inSydney would need to save for 5.6years for adepositonmedianpricedunit,the Territory andWestern Australia. savings time for FTB couples, likely due to the removal oftheFirst HomeOwners’ Grant intheNorthern increased by 2.1%over thesameperiod.Despite this,there hasnotbeenareduction inthe required deposit Across thecapital cities,the average median value for units rose by 0.8% year-on-year, whilethe average wage preference for unitsamongFTBs,asprovide quicker accessto theproperty ladder. Residex Housing &UnitsdatatoJune2016 average C Sy P Melb H Units Darwin Bris AC Ad LGAName erth Units erth apital city city apital o d elaid T Units T b ney Units ney b art Units art • • • ane Units ane ourne Units ourne savings timenationwide. FTB couplesinSydneyneedtosavefor5.6yearsadepositon a housecomparedtounitinAustraliancapitalcities–anincrease2015(1.2years). The marketforunitsismoreaccessiblethanthehousingmarket.Ittakes1.4yearslongertosave Australian capital onparwith2015(3.3 cities, years). On average, ittakes 3.5years for FTBcouples to save a20%depositonmedianpricedunitin eUnits

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Latrobe is closely followed by Glenelg in Victoria (1.4 years for a required deposit of $30,400) and Muswellbrook in NSW’s Hunter region (1.5 years for a required deposit of $43,600). Overall, the required savings time in each of the 10 LGAs where it takes the shortest time to save for a unit deposit is largely unchanged compared with last year, with the only exception being Central Highlands Regional in Queensland, where saving time has fallen slightly to 1.5 years for a required deposit of $47,800 from 1.9 years in 2015. Unit

10 3. NSW Deposit Trends

• NSW FTB couples have to save for an average of 5.7 years for a deposit on a median priced house, up slightly from 5.3 years in 2015 and well above the national average of 4.4 years. • Savings time rises considerably to an average of 8.4 years for a median priced house in Sydney, up from 7.9 years in 2015. • The savings time of 8.4 years in the capital city is also notably higher than the average required savings time for a median priced unit in Sydney of 5.6 years (5.3 years in 2015). • All Sydney LGAs require FTB couples to save for longer than four years for a house deposit, while more than half (53%) of LGAs require longer than 10 years to save.

FTBs in NSW are facing the most competitive property market in Australia, with the NSW median house value increasing by 8.2% in 2016 and average wages for 25-34 year olds only growing by 2.2% over the same period. With property value growth exceeding wage growth, it is taking longer for FTBs in NSW, particularly those in Sydney, to enter the property market. NSW

11 Longer than ever before for Sydney FTBs to save house deposit as median value tops $1m In 2016, Sydney FTB couples need to save for an average of 8.3 years to put down a 20% deposit on a median priced house worth $1,073,000. Compared to 2015, this represents an increase of six months in the required savings time and compared to two years ago, Sydney FTB couples now need 1.7 years longer to save the hefty $214,600 deposit to purchase a median priced house.

The median house value in Sydney rose above the $1 million mark for the first time in 2016, and with wage growth failing to keep up, it is unsurprising that it is getting more difficult to enter the Sydney property market for FTBs.

Top 10 NSW LGAs where it takes the most time for FTB couples to save a house deposit

Years to save Years to save Years to save Savings needed for 20% LGA Name house deposit house deposit house deposit Region State house deposit (June 2016) (June 2015) (June 2011) (June 2016)

Strathfield 17.9 16.2 11.1 Sydney NSW $410,800 Mosman 17.4 16.3 13.6 Sydney NSW $613,000 Woollahra 16.9 14.8 12.2 Sydney NSW $595,600 Waverley 15.9 14.2 11.3 Sydney NSW $492,700 Burwood 15.2 13.2 8.9 Sydney NSW $336,900 Hunters Hill 15.2 13.3 10.7 Sydney NSW $509,800 Manly 14.4 12.9 10.5 Sydney NSW $438,900 Willoughby 14.4 12.9 9.5 Sydney NSW $450,900 Randwick 13.7 12.2 9.6 Sydney NSW $392,900 Lane Cove 13.4 12.3 8.9 Sydney NSW $440,000

Strathfield overtakes Mosman for title of NSW LGA with longest required savings time for a house At the top end, Sydney’s housing market has continued its incredible growth, with the required savings times in the top 10 LGAs where it takes longest for an FTB couple to save a 20% house deposit rising by an average of 1.6 years compared with last year.

Strathfield has overtaken Mosman as the LGA with the longest required savings time for a deposit on a median priced house. The average FTB couple in Strathfield needs 17.9 years to save the required $410,800 deposit on a median priced house. This is up from 16.2 years in 2015, likely driven by a 10.3% increase in the median house value in Strathfield in 2016.

Although Mosman has lost its poll position, it still requires the largest deposit of $613,000 for a median priced house. Mosman has also seen a year-on-year increase in the required savings time to 17.4 years, from 16.3 years in 2015.

Woollahra rounds out the top three NSW LGAs where it takes the most time for an FTB couple to save a 20% deposit, with the required savings time for a $595,600 deposit on a median priced house rising to 16.9 years from 14.8 years in 2015.

Randwick is the only new entrant into the top 10 list compared to 2015. Randwick saw its median house value rise by 13.3% in the year to June 2016, meaning the required savings time has increased to 13.7 years from 12.2 years in 2015.

Randwick replaces Ashfield, which has slipped out of the top 10 despite the median house value in Ashfield rising by 8.2% in 2016. Ashfield’s experience demonstrates the widespread strength of Sydney’s property market, with property prices rising across the board.

The required time to save for a deposit on a median priced house has increased for 72% of NSW LGAs over the last year, while over a five-year horizon, the time to save for a house deposit has increased for 97% of NSW LGAs. NSW

12 Top 10 NSW LGAs where it takes the least time for FTB couples to save a house deposit

Savings needed Years to save Years to save Years to save for 20% house LGA Name house deposit house deposit house deposit Region State deposit (June 2016) (June 2015) (June 2011) (June 2016) Central Darling 0.6 0.7 0.2 Far West NSW $13,300 Urana 0.9 1.0 0.6 Murray NSW $18,100 Broken Hill 1.0 1.2 1.1 Far West NSW $22,100 Coonamble 1.2 1.2 0.8 North Western NSW $23,300 Brewarrina 1.2 1.3 0.7 Far West NSW $20,900 Bogan 1.2 1.2 1.0 North Western NSW $28,700 Bourke 1.3 1.4 0.7 North Western NSW $27,800 Bland 1.3 1.3 1.1 Central West NSW $28,500 Carrathool 1.4 1.4 1.0 Murrumbidgee NSW $24,800 Cobar 1.4 1.6 1.3 North Western NSW $40,700

Savings time for NSW regional and rural houses static At the other end of the housing market in NSW, Central Darling in the state’s far west provides NSW FTBs with their quickest avenue to purchasing their first home. Purchasing a house in the Central Darling LGA only requires an average of 0.6 years, or around seven months, of saving to raise the required $13,300 deposit.

Central Darling is followed by Urana (0.9 years for a required $18,100 deposit) and Broken Hill (1.0 year for a required $22,100 deposit).

Eight of the 10 LGAs in NSW where it takes the least amount of time to save also featured in last year’s list. The required savings time for a deposit on a median priced house in each of the LGAs on this list is also largely in line with 2015. The gap between the shortest and the longest required savings times has widened in NSW, with rural and regional areas offering much quicker avenues into the property market for NSW FTBs.

Unit savings time in Sydney continues to increase For Sydney FTBs wishing to purchase a unit, it now takes an average of 5.6 years to save for a deposit on a median priced unit, up slightly from 5.3 years in 2015. However, units offer Sydney FTBs an easier route into their first home, with the savings time required for a deposit on a median priced unit on average 2.8 years shorter than for a deposit on a median priced house.

Across NSW, FTB couples looking to buy a unit must save for an average of 5.3 years, up slightly from 4.9 years in 2015. This increase has been driven largely by the high performing apartment market in Sydney, as well as unit valuations in Byron Bay appreciating by 13% in the 12 months to June 2016.

Top 10 Sydney LGAs where it takes the most time for FTB couples to save a unit deposit

Savings needed Years to save Years to save unit Years to save for 20% unit LGA Name unit deposit deposit unit deposit Region State deposit (June 2016) (June 2015) (June 2011) (June 2016) Manly 8.3 7.4 5.7 Sydney NSW $218,800 Burwood 7.5 6.9 4.9 Sydney NSW $158,900 Sydney 7.1 6.6 5.0 Sydney NSW $166,500 Woollahra 6.8 6.0 4.7 Sydney NSW $226,400 Waverley 6.6 6.1 4.8 Sydney NSW $193,800 Pittwater 6.4 5.7 4.8 Sydney NSW $165,100 Randwick 6.3 5.8 4.5 Sydney NSW $172,900 Ashfield 6.1 5.8 4.2 Sydney NSW $137,900 Canada Bay 6.0 5.6 4.5 Sydney NSW $176,600 Strathfield 5.9 5.8 4.1 Sydney NSW $127,200 NSW

13 NSW least timetosavefora20%unitdepositoverthelastfiveyears. market, withanaverageincreaseof5 required savingstimefora Interestingly, eventhebottomendofSydneymarkethasseenslightyear-on-year increasesinthe Wyong (3.5yearsforarequired$75,000deposit)andCamden( requires anaverageof3.4yearssavingstoraisetherequired$83,000deposit.Wollondillyisfollowed by Wollondilly provides Sydney FTBswiththeirfastest avenue to purchasing aunit.Purchasing aunitinthisLGA Sydney unitmarket risingacross theboard time requiredtosaveforamedianpriced Most LGAswithintheSydneyregionmakinguptop10haveseennotableyear-on-yearincreasesin required $166,500deposit). Manly isfollowed by Burwood (7.5years for arequired $158,900deposit)andSydney CBD(7.1years for a wide. $218,800 deposit.Thisisthelongest required savings time for amedianpricedunitacross NSW andnation- Sydney FTBcoupleswantingtobuyamedianpricedunitinManlyrequireanaverageof8 Manly topsthelistoflongestrequiredsavingstimeforunitsinSydneyandnationwide Source:ABS 20000 30000 40000 50000 60000 70000 W LGAName Blacktown Blacktown G Blue H d fiel Fair P C C W 10000 enrith enrith amp am awkes os ollon yong yong f d d or 0 ountains Mountains b en 3 201 2012 2011 2010 2009 2008 2007 2006 elltown elltown d b

illy illy ury ury Top 10Sydney LGAs where ittakes theleast time for FTB couples to save aunitdeposit Years to sa v to Years Annual numberofFirst TimeBuyers, New SouthWales (2006-2016) unit unit (June 2016) 2016) (June 3.4 4.2 4.1 4.0 3.9 3.6 3.6 3.8 3.7 3.5 d eposit eposit

median priced e e Years to sa v to Years unit unit (June 2015) 2015) (June 2.7% inthemedianunitvalueacross10LGAswhereittakes 3.1 3.9 3.6 3.6 3.5 3. 3.2 3.7 3. 3.1 d eposit eposit

unit.ThisreflectsthewidespreadstrengthofSydney’sproperty unit, withanaverageincreaseofsixmonths.

e e 14 Years to sa v to Years unit unit (June 2011) 2011) (June 2.1 2.6 2.8 2.8 2.6 2.2 2.4 2.4 2.3 2.4 d eposit eposit

e e 3.6 year Sy Sy Sy Sy Sy Sy Sy Sy Sy Sy Region Region s forarequired$92,500 d d d d d d d d d d e N ney e N N N ney N ney ney ney N N ney ney e N N ney ney N ney State State 0421 2016 2015 2014 SW SW SW SW SW SW SW SW SW SW

yearstosavethe Sav deposit). f (June 2016) 2016) (June or 20% unit unit 20% or ings nee ings $83,000 $97,800 $92,700 $92,400 $91,700 $81,200 $92,500 $84,000 $87,800 $75,000 d eposit eposit d

e d

NSW 15 growth. Although changing NSW age demographic may explain some of the difference, FTBs are finding it harder to to finding it harder FTBs are some of the difference, explain may demographic age NSW Although changing wage outpacing average the state, across price growth property with strong market, property the NSW enter 2011 Census data reveals NSW’s proportion of residents aged between 20-34 is 21.1% . If we infer the age of of the age we infer . If 20-34 is 21.1% between aged residents of proportion NSW’s reveals data 2011 Census olds year of 20-34 sample, the proportion old 2016 20-34 year our current represent 15-29 to people between in NSW. our FTB bracket 20.6%, a decline of 36,534 within be would currently The number of FTBs in NSW has decreased to 17,590 in 2016 from 18,943 in 2015, a 7.1% decline. FTBs now FTBs now a 7.1% decline. 18,943 in 2015, in 2016 from 17,590 to has decreased of FTBs in NSW The number in 2015. 10.4% from down in NSW, purchased of dwellings 8.3% for only account NSW FTBs being locked out of the market of the out locked FTBs being NSW 4. Victorian Deposit Trends

• Victorian FTB couples need to save for an average of 4.7 years to raise a deposit on a median priced house, up slightly from 4.4 years in 2015. • Melbourne FTB couples need to save for an average of 6.2 years to raise a deposit on a median priced house, up slightly from 5.8 years in 2015. • While the number of FTBs in the market rose in Melbourne by 3.6% in the 12 months to June 2016, the proportion of FTBs in the market decreased to 14.9% - half the early 2010 peak of 29.5%. • More than half (52%) of Melbourne LGAs require FTBs to save for more than six years for a deposit on a median priced house.

The average FTB couple in Victoria would need 4.7 years to save the initial $108,900 required for a deposit on a median priced house. Victoria has the second longest average required savings time of all states and territories in Australia, behind only NSW. Savings time has increased slightly from 4.4 years in 2015, as the growth in median house value of 7.2% over the last year outpaces the growth in average wages of 2.3% during the same period. VIC

16 VIC

% d e

d or 20 ouse f

h 300 d 7,200 e eposit eposit eposit d d 38 365,900 323,800 262, 294,000 213,400 d ings nee $ $ $ $ $ $ 36,200$2 $215,500 $224,500 3,600$20 37,900 39,600 20,600 22,900 22,600 32,400 34,600 32,600 43,900 41,100 (June 2016) $ $ $ $ $ $ $ $ $ $ or 20% f v Sa ouse (June 2016) h ings nee v Sa

VIC VIC VIC VIC VIC VIC VIC VIC VIC VIC

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yell ourne ourne ourne ourne ourne ourne ourne ourne ourne ourne L on - ighlan Region H dd b Mel b Mel b Mel b Mel b Mel b Mel b Mel b Mel b Mel b Mel o immera immera immera Mallee Mallee Region L W W W estern District estern District Mersey entral W W C e e 20%

17

ouse eposit eposit h d 1.8 1.9 1.0 0.9 1.1 1.6 1.6 1.3 1.7 1.9 8.0 8.2 8.5 6.2 7.2 8.2 6.0 6.4 10.0 10.9 eposit d 20% (June 2011) ouse (June 2011) Years to v sa h Years to v sa

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ouse 20% (June 2015) h Years to v sa 8.3 9.5 9.4 8.9 8.1 7.9 7.7 7.6 12.7 11.2 eposit d 20% (June 2015) Years to v sa

e 20% eposit eposit 1.4 1.7 1.8 1.8 1.8 1.9 2.0 2.0 1.1 1.1 house, an extra 0.4 years or five months compared with 2015. This has been with 2015. or five months compared extra 0.4 years house, an e d

ouse ouse (June 2016) h h 8.7 8.7 9.3 8.6 8.4 14.1 12.9 11.2 10.6 10.3 eposit Years to v sa d 20%

(June 2016) Years to v sa

median priced

rampians rampians

G G op 10 Victorian LGAs where it takes the most time for FTB couples to save a house deposit to save couples for FTB time the most it takes where LGAs Top 10 Victorian Top 10 Victorian LGAs where it takes the least time for FTB couples to save a house deposit to save couples for FTB time the least it takes where LGAs 10 Victorian Top

, while average wage growth in Melbourne has been the highest of any capital city (2.3%), it still lags (2.3%), it still city capital of any in Melbourne has been the highest growth wage r, while average ara immera

d

LGA NameLGA e

e hillip W b ourne on marsh P d dd est est hitehorse lenelg annawarra in len Eira outhern o atro ort tonnington G Ararat S Northern L L Buloke W G H b Mel Manningham W P Monash Yarra S Baysid G LGA NameLGA Boroon required savings time, particularly Bayside (11.2 years vs. 9.5 years). vs. 9.5 years (11.2 Bayside particularly time, savings required Boorondara tops the list, with an average required savings time of 14.1 years for a deposit of $387,200, years time of 14.1 savings required with an average the list, tops Boorondara a required for (11.2 years $365,900 deposit) and Bayside a required for (12.9 years Stonnington by followed in the average increase a year-on-year has experienced LGAs 10 Victorian of the top $323,800 deposit). Each The list of top 10 Victorian LGAs requiring the longest savings time for a deposit on a median priced house is time savings the longest requiring LGAs 10 Victorian of top The list the 2015 results. similar to LGAs, inner city Melbourne by dominated Melbourne LGAs dominate list of Victorian LGAs with longest savings time for a house time savings with longest LGAs of Victorian list dominate Melbourne LGAs Melbourne has second longest required savings time for a house deposit a house for time savings required longest second has Melbourne initial 20% required for an for the $148,600 average of 6.2 years to save for an FTB couples need Melbourne a deposit on Howeve driven by an 8.9% increase in the median house value in Melbourne - the largest proportional increase in proportional increase - the largest value in Melbourne in the median house an 8.9% increase driven by city for 2016. any capital for FTB time savings required in the average an increase leading to value, in median house the growth couples. VIC over afive-yearhorizon,97%ofVictorianLGAshaveexperiencedanincreaseinaveragesavingstime. time exceedsfouryearshasalsoincreasedto41%from34%duringthe12monthsJune2016.Looking priced housecomparedtothepreviousyear. TheproportionofLGAswheretheaveragerequiredsavings Within Victoria,81%ofLGAssawariseintheaveragesavingstimerequiredfordepositon in thebottom10areonparwithlastyear. reduction inaveragerequiredsavingstimewhilethreehaveexperiencedincreases.TheremainingLGAs Four ofthe10VictorianLGAswithleasttimetosavea20%housedeposithaveseenyear-on-year (1.4 yearsforarequired$22,600deposit). the nextshortestsavingstimesareBuloke(1.1yearsforarequired$22,900deposit)andWestWimmera for anaverageofjust1.1yearstherequired$20,600depositona The shireofHindmarsh,locatedinVictoria’sWesternWimmeraregion,requireslocalFTBcouplestosave Hindmarsh requires smallest housedepositinVictoria Melbourne. required $123,200deposit)astheLGAs withthesecond andthird longest savings time for aunitdepositin Monash isfollowed by Bayside (5.3years for arequired $148,900deposit)andWhitehorse (5.2years for a June 2016-thelargestincreaseofallMelbourneLGAsintop10. 2015. Theincreaseislargelyduetothemedianunitvalueinarearisingby11.4%for12months priced unitinMonash.ThisisthelongestsavingstimeforunitsMelbourneandupfrom5.2years It takesanaverageMelbourneFTBcouple5.7yearstoraisethe$128,700neededforadepositon Monash topsthelistofLGAswithlongestrequiredsavingstimeforunitsinMelbourne ornington Mornington G Brim W C H Frankston W C Melton LGAName S Yarra Melb Banyule G Manningham Boroon W d Baysi Monash LGAName asey asey d ar ume ume reater Dan reater tonnington tonnington len Eira Eira len tt hi yn hitehorse hitehorse d inia b lesea lesea ourne

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Top 10MelbourneLGAs where ittakes themost time for FTB couples to save aunitdeposit ara

Top 10MelbourneLGAs where ittakes least time for FTB couples to save aunitdeposit

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20% unit unit 20% Years to sav to Years (June 2016) 2016) (June Years to sav to Years (June 2016) 2016) (June 20% unit unit 20% d eposit eposit 4.2 4.9 4.4 5.2 4.2 4.2 4.9 5.1 5.7 3 5.3 3.6 3.1 3.0 2.9 2.9 2.9 2.6 2.5 2.4

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eposit eposit e e e e Years to sav to Years (June 2015) 2015) (June Years to sav to Years (June 2015) 2015) (June 20% unit unit 20% d 20% unit unit 20% d eposit eposit 4.2 4.6 4.9 4.1 4.6 4.9 5.2 4.2 4.2 5.0 eposit eposit 3.4 3. 2.9 2.9 2.8 2.9 2.8 2.4 2.5 2.3

e e e e 18 Years to sav to Years (June 2011) 2011) (June Years to sav to Years 20% unit unit 20% (June 2011) 2011) (June d 20% unit unit 20% d eposit eposit 4.4 4.5 4.1 4.5 4.6 4.1 4.5 3 4.3 3.8 4.4 eposit eposit 3 3. 3.2 2.9 2.9 2.7 2.8 2.7 2.3 2.4 2.3

e e e e Melb Melb Melb Melb Melb Melb Melb Melb Melb Melb median priced Melb Melb Melb Melb Melb Melb Melb Melb Melb Melb Region Region Region Region ourne ourne ourne ourne ourne ourne ourne ourne ourne ourne ourne ourne ourne ourne ourne ourne ourne ourne ourne ourne ourne ourne ourne ourne ourne ourne

State State VIC VIC VIC VIC VIC VIC VIC VIC VIC VIC

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Sav 20% unit unit 20% Sav 20% unit unit 20% ings nee ings (June 2016) 2016) (June median ings nee ings (June 2016) 2016) (June $112,500 $117,100 $123,200 $108,600 $148,900 $ $ $ $ $ 110,000 101,60 124,500 133,900 128,700 $79,400 $68,600 $66,100 $ $ $ $ $68,500 $64,700 $64, 64,100 61, 56,400 53,900 d median d eposit eposit 300 300 d e d eposit eposit 0 d e

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f or or Melton provides fastest pathway into Melbourne’s units market Melbourne FTB couples need an average of 2.4 years to save a $53,900 deposit on a median priced unit in Melton, the lowest required savings times in the city. Other accessible LGAs for FTBs include Cardinia (2.5 years for a required $56,400 deposit) and Wyndham (2.6 years for a required $61,300 deposit).

60000 Annual number of First Time Buyers, Victoria (2006-2016)

50000

40000

30000

20000

10000

0 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Source: ABS

Proportion of Victorian FTBs half the 2010 peak The number of FTBs in Victoria has risen by 3.6% in the 12 months to June 2016, while the number of non-first time buyers has increased by 16.3%. The percentage of FTBs in the Melbourne market decreased to 14.9% from 16.4% over the last year and is considerably lower than the early 2010 peak of 29.5%. Low interest rates have seen dwellings sales increase for both FTBs and non-first time buyers, with non-first time buyers entering at a much faster rate. VIC

19 5. Queensland Deposit Trends

• Queensland FTBs need to save for an average of 4.0 years for a deposit on a median priced house, on par with 3.9 years in 2015 but below the national average of 4.4 years. • Brisbane FTBs need to save for an average of 4.3 years for a deposit on a median priced house, in line with 2015 (4.1 years). • Queensland is one of the most accessible states for FTBs, with one in three Queensland LGAs requiring less than two years to save for a median priced unit, the highest proportion of any state.

The average FTB couple in Queensland need to save for 4.0 years to raise a $92,800 deposit for a median priced house, on par with 2015 (3.9 years). The median house value in the state has risen by 4.3%, exceeding the average wage growth of 1.9% for the 12 months to June 2016. However, over a five-year horizon, average wage growth has marginally outpaced median house value growth (14.4% vs. 13.6%).

Brisbane FTB couples require an average of 4.3 years to raise a deposit on a median priced house in Brisbane worth $509,000, in line with 2015 (4.1 years). QLD

20 QLD or f or

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e d d eposit d 300 d 300 39, 23,700 47,000 26,400 23,500 $8,500 ouse 3,600$2 $ $ $ $ $ $40,400 $29,600 $50,100 h $98,100 $83,200 $78,000 $80,700 $63, $78,400 ouse $112,600 $101,900 $118,400 $130,400 (June 2016) ings nee h ings nee (June 2016) 20% v Sa v Sa 20% asmanian Tasmanian

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ouse h 3.6 3.0 4.5 4.6 4.4 3.9 3.4 3.3 4.8 3.4 h eposit 1.4 0.8 1.8 1.9 2.5 0.9 2.2 0.4 1.5 2.1 21 eposit d (June 2011) d 20% Years to v sa 20% (June 2011) Years to v sa e e

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3.1 3.6 h 3.6 3.5 5.2 5.0 4.8 4.1 3.7 4.8 ouse eposit h 1.5 1.5 1.2 1.8 1.4 1.8 1.6 0.8 1.8 1.5 d eposit (June 2015) 20% d Years to v sa 20% (June 2015) Years to v sa e e

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ouse 3.3 h 3.8 3.7 3.6 5.6 5.3 4.9 4.2 3.8 5.4 h eposit 1.3 0.7 1.0 1.2 1.5 1.7 1.7 0.5 1.7 1.5 house, and nine in 10 (90%) require savings time of less than four years. time of less than require savings nine in 10 (90%) house, and eposit d d (June 2016) 20% Years to v sa 20% (June 2016) Years to v sa

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Shire Top 10 Queensland LGAs where it takes the least time for FTB couples to save a house deposit to save couples for FTB time the least it takes where 10 Queensland LGAs Top a ity Top 10 Queensland LGAs where it takes the most time for FTB couples to save a house deposit to save couples for FTB time the most it takes where LGAs 10 Queensland Top d Shire b oast C ers ers C ane

d lpie lan b d LGA NameLGA harters Towers loncurry entral aroo old airns Regional cenic cenic Rim Regional unshine ogan saac saac Regional C Regional Banana Murweh Qui C C Regional Blackall Tam P I Flin LGA NameLGA L Maree S C Moreton Bay Regional S Regional Re Noosa Bris G Queensland is one of the most accessible states for houses for FTBs for houses for states accessible the most one of is Queensland market end housing FTBs. Its top for accessible in Australia the most is one of housing market Queensland’s with only the Northern couples, for FTB times savings the shortest has among housing markets having shorter savings times. No Queensland LGA requires more than six years to save a than six years LGA requires more No Queensland savings times. having shorter housing markets a deposit for However, illustrating the relative accessibility of Queensland houses, 54% of Queensland LGAs (27 of 50 LGAs) LGAs (27 of 50 accessibility of Queensland houses, 54% of Queensland relative the illustrating However, to June 2016. couples in the 12 months for FTB time savings a decline in required experienced have Demand for housing in these LGAs is likely to be strong given their popularity as tourism destinations and destinations as tourism their popularity given be strong to is likely LGAs housing in these Demand for the coast. to proximity Both LGAs have experienced a year-on-year increase in required savings time, from 5.2 years and 4.8 years years and 4.8 years 5.2 time, from savings in required increase a year-on-year experienced have Both LGAs year. over the last respectively by 10.3% and 15.8% value has increased as the median house respectively, Only four of the top 10 LGAs requiring the longest savings time for a house deposit are within Queensland’s within Queensland’s deposit are for a house time savings the longest requiring 10 LGAs of the top Only four required the longest for the list top Noosa (5.4 years) and (5.6 years) city of Brisbane. Gold Coast capital time. savings Gold Coast and Noosa the regions requiring the longest savings time for houses time savings the longest requiring and Noosa the regions Gold Coast QLD Source:ABS deposit ona In BrisbaneCity deposit of$89,800,$73,600and$72,300respectively). requiring thelongestsavingstimeforFTBcouplestoraiseadepositon Noosa (4.4years),GoldCoast(3.5years)andSunshinearetheQueenslandLGAs 10000 15000 20000 25000 30000 35000 40000 dwellings purchased, onparwith2015(16.3%). non-first timebuyers inQueenslandalsoincreased by 5% over thesameperiod. FTBsmake up15.8%ofthe In theyear to June2016,thenumberofQueensland FTBsincreased marginally by 1.5%whilethenumberof Queensland FTBsincrease marginally a required $23,500). quickest options are inIsaac Regional (0.7 years for a required $26,400deposit)andFlinders Shire (1 year for where FTBcouples onlyneedto save for 0.5years (6months) to raise therequired $8,500deposit.Thenext The quickest entrance into theQueenslandandAustralian housingmarket overall, isviaParoo Shire, the average FTBcouple to save for ahousedeposit. Queensland hasthelargest proportion of LGAs (32%or16outof50)which require lessthantwo years for Paroo Shire themost accessibleLGA for FTBsnationwide Toowoom Bun S W Bay Moreton Re Bris S G Noosa LGAName 5000 omerset omerset unshine d ol estern Downs estern d b lan d 0

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median priced , anFTBcouplewouldneedtosaveforaverageof3.4yearstherequired$83,400 Annual numberofFirst TimeBuyers, Queensland(2006-2016) Years to sav to Years Unit (June 2016) 2016) (June unit. 2.8 3.5 2.6 2.6 2.8 2.9 3.0 3.4 3.5 4.4 d eposit eposit

e e Years to sav to Years Unit (June 2015) 2015) (June 3.1 3. 2.5 2.6 2.8 2.8 2.9 3.4 3.4 3.4 d eposit eposit

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6. Western Australia Deposit Trends

• FTB couples in Western Australia need to save for an average of 3.5 years to raise a deposit on a median priced house, on par with 2015 (3.6 years) but below the national average of 4.4 years. • Perth is one of the nation’s most accessible capital cities for FTBs, sharing the shortest required savings time among the capital cities with Hobart (3.8 years), driven by a decline in the median house value. • Despite this, the number of FTBs in Western Australia declined by 14.1% in the 12 months to June 2016 to 16,424 as falling rents and the removal of the First Home Owners’ Grant on established homes in October 2015 have made buying a home less attractive. • Of Perth’s 30 LGAs, two in three (67%) require longer than four years to save for a deposit on a median priced house.

The average FTB couple in Western Australia would need to save for 3.5 years to raise a 20% deposit of $94,400 to buy a median priced house. This is on par with 2015 (3.6 years) but lower than the national average of 4.4 years. WA

23 WA the capital’s local economy andproperty market. impact onhousepricesandaffordability aswell astheimpactof endoftheminingconstruction boomon the trend amongthecapital partly cities, reflective ofthe two-speed nature ofAustralia’s economy andits savings time for ahousedeposit,as well asthemedianhouse value at the top end. Perth istherefore bucking The othercapital of cities Sydne value in2016(1.8%and1.7%respectively) anda year-on-year increase insavings time forFTB couples. Subiaco andClaremont are theonlytwo LGAs inthetop 10list to have seenanincrease inmedianhouse required $362,200). Peppermint Grove isfollowed by Nedlands(11.7years for arequired $331,500)andCottesloe (11.0 years for a median housevaluein LGA inAustralia.ThesavingsrequiredforadepositPeppermintGrovealoneis35.5%higherthanthe save $686,300for a20%deposit,whichwould take onaverage 19.7years -thelongest savings timeofany Although itsmedianhousevalue hasfallen by 4.5%in2016,Peppermint Grove still requires FTB couples to Peppermint Grove holdsonto titleasthenation’s least accessible LGA forFTBs Australia’s mostaccessiblepropertymarketsforFTBs. and PerthsharestheshortestrequiredsavingstimeamongcapitalcitieswithHobart,makingitoneof countervailing effectontherequiredsavingstime.Nonetheless,Perthhousesremainrelativelyaccessible Perth declinedby3.6%inthe12monthstoJune2016,removalofFirstHomeOwners'Granthasa median priced Perth FTBcouplesneedanaverageof3.8yearstosavetherequired$101,300foradepositon $750,000 asofthe3rd ofOctobe the state, despite theremoval oftheFirst HomeOwners' Grant of$3,000for established homesunder house value inWA declinedby 4.1%in2016.Thisfall hasmaintained therelative affordability ofhousingin While average wages have onlygrown by 1.9%,thesecond lowest wage growth rate nationwide, themedian WA housesremain accessibleto FTBsdespite removal ofgrant V S Fremantle East C C Mosman P C Ne P LGAName u erth eppermint am laremont o incent b tt d Top 10Western Australian LGAs where ittakes themost time for FTB couples to save ahousedeposit iaco lan esloe b

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y, MelbourneandBrisbanehave eachexperienced increases inrequired r, 2015. e e Years to sav to Years (June 2015) 2015) (June 20% 20% Perth. d eposit eposit 10.1 11.2 11.1 20.2 11.7 8.5 9.2 7.2 7.2 8.9 h ouse ouse

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e e Region Region P P P P P P P P P P erth erth erth erth erth erth erth erth erth erth erth erth

State State WA WA WA WA WA WA WA WA WA WA

Sav 20% 20% ings nee ings (June 2016) 2016) (June h $ $ $ $ $ $ $ $249,900 $251,400 $ ouse ouse 183, 232,400 286,500 255,800 271,900 362,200 686, 331,500 300 300 d d eposit eposit e

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e eposit d eposit 300 300 0 d d d 97,500 98,000 96,900 136, 137,200 117,800 114, 108,000 $ $ $ $147,900 $118,900 $ $ $ $ $ 23,600 31,500 43,000 38,600 32,80 55,900 35,000 30,200 33,100 ouse $ $21,000 $ $ $ $ $ $ $ $ h (June 2016) ings nee (June 2016) ings nee 20% unit v Sa 20% v Sa

WA WA WA WA WA WA WA WA WA WA WA WA WA WA WA WA WA WA WA WA State State . Neighbouring LGA, Port house, down from 25.0% in

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op 10 Perth LGAs where it takes the most time for FTB couples to save a unit deposit Top 10 Perth LGAs where it takes the most time for FTB couples to save

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Pilb esloe lan d tt Top 10 Western Australian LGAs where it takes the least time for FTB couples to save a house deposit a house to save couples FTB for time least the it takes where LGAs Australian Western 10 Top ongan ictoria incent o laremont erth nowangerup outh ollie oolgard ingelly V S V East Fremantle Melville P C C Fremantle LGA NameLGA Ne Boyup Brook Ravensthorpe Moora East P C W G Merre C LGA NameLGA Pilbara sees largest reduction in required savings time due to mining downturn to mining time due savings required in reduction sees largest Pilbara LGA in which it takes the quickest time for an FTB couple to save the Coolgardie in South Eastern WA is the required $23,600 deposit on a require less than two years for FTB couples to save a deposit on a require less than two years for FTB The East Pilbara LGA has seen the largest reduction in required savings time from 3.5 years in 2015 to 1.5 reduction in required savings time from 3.5 years in 2015 to 1.5 The East Pilbara LGA has seen the largest has median house value in the area. The median house value in the LGA years due to a huge reduction in the for any LGA Australia-wide in the 12 months to June 2016, due to dropped by 57.6%, the largest decrease impact on employment and the local economy the mining downturn and its adverse Gnowangerup (1.0 year for a required $21,000 deposit) and Merredin (1.2 years for a required $31,500 Gnowangerup (1.0 year for a required deposit) round out the top three. 2015. decline in its median house value over the same period. Couples wishing Hedland, also experienced a 32.6% now only need to save for 2.5 years in 2016, almost half of the 4.9 years to purchase a house in Port Hedland required in 2011. Perth units becoming more affordable as median value falls It takes the average Perth FTB couple 3.2 years to save for a deposit on a median priced unit, on par with 2015 (3.4 years). Of Perth’s top 10 LGAs where it takes the most time for an FTB couple to save a unit deposit, no LGA has seen a year-on-year increase in required savings time, with eight LGAs seeing a decline in savings time.

Nedlands tops the list with an FTB couple required to save for an average of 5.0 years for the $136,300 deposit on a median priced unit, 0.4 years or around five months less than it would have taken in 2015. Cottesloe (4.7 years for a required $147,900 deposit) and Claremont (4.6 years for a required $137,200 deposit) round out the top three.

Top 10 Perth LGAs where it takes the least time for FTB couples to save a unit deposit

Years to save Years to save Years to save Savings needed for 20% unit 20% unit 20% unit LGA Name Region State 20% unit deposit deposit deposit deposit (June 2016) (June 2016) (June 2015) (June 2011) Kwinana 1.6 1.6 1.6 Perth WA $42,500 Rockingham 2.0 2.2 1.8 Perth WA $58,100 Armadale 2.0 2.2 1.7 Perth WA $52,700 Cambridge 2.3 3.4 2.1 Perth WA $66,800 Mundaring 2.5 2.7 2.3 Perth WA $66,500 Gosnells 2.6 2.8 2.3 Perth WA $65,200 Swan 2.7 2.8 2.4 Perth WA $70,300 Wanneroo 2.8 3.0 2.5 Perth WA $73,800 Kalamunda 3.0 3.1 2.5 Perth WA $79,700 Bayswater 3.0 3.1 2.6 Perth WA $79,700

Kwinana the only Perth LGA where it takes less than two years to save for a unit Even in Perth’s most accessible areas, it takes more than two years for the average FTB couple to save for a unit in all LGAs but Kwinana. Kwinana has the shortest required savings time for a unit deposit of 1.6 years to raise the $42,500 required for a median priced unit. It takes FTB couples in Rockingham and Armadale, on average, two years to save a $58,100 and $52,700 deposit, respectively.

Annual number of First Time Buyers, Western Australia (2006-2016)

30000

25000

20000

15000

10000

5000

0 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Source: ABS WA

26 WA FTB numbers decreasing as rents decline The number of FTBs in Western Australia declined by 14.1% in the 12 months to June 2016 to 16,424. The decline for non-first time buyers was just 4.5% over the same period. Slowing population growth and housing 11 supply increases in the state have led to Perth rental prices falling by 8.1% in the 12 months to March 2016. Lower rental prices have delayed FTBs from purchasing their first home, as renting at a cheaper rate becomes more attractive. Another likely cause is the removal of the First Home Owners’ Grant in October 2015. Although only available on established houses valued at less than $750,000, FTBs had government assistance to enter the majority of Perth’s property market. WA 11 REIWA market Indicators to March 2016

27 7. South Australian Deposit Trends

• South Australian FTB couples require an average of 3.6 years to save a deposit on a median priced house, up slightly compared to 2015 (3.3 years). • Adelaide FTB couples need to save for an average of 4.0 years for a deposit on a median priced house, up slightly from 3.6 years in 2015. • In the capital, 68.4% of LGAs require longer than four years to save a deposit on a median priced house. However, Adelaide remains relatively accessible for FTBs compared to other capital cities.

South Australian FTBs saving for longer for a house deposit The average FTB couple in South Australia needs to save for 3.6 years to raise a 20% deposit of $78,700 to purchase a median priced house, up slightly from 3.3 years in 2015 but still below the national average of 4.4 years. The main driver of this increase has been South Australia’s median house value growing by 3.8% for the 12 months to June 2016, outpacing average wage growth of 2.2% for the same period.

Adelaide FTB couples require $88,500 for a deposit on a median priced house, up from $78,900 in 2015. The average Adelaide FTB couple needs 4.0 years to save this deposit, up slightly from 3.6 years in 2015. SA

28 Top 10 South Australian LGAs where it takes the most time for FTB couples to save a house deposit

Years to save Years to save Years to save Savings needed for 20% house 20% house 20% house LGA Name Region State 20% house deposit deposit deposit deposit (June 2016) (June 2016) (June 2015) (June 2011) Walkerville 7.4 7.3 7.3 Adelaide SA $172,500 Burnside 6.8 6.4 6.8 Adelaide SA $169,300 Unley 6.7 6.5 6.5 Adelaide SA $165,400 Norwood Payneham And 6.4 6.1 6.1 Adelaide SA $148,900 St Peters Adelaide 5.8 5.7 5.8 Adelaide SA $131,300 Prospect 5.6 5.6 5.6 Adelaide SA $128,300 Holdfast Bay 5.6 5.5 5.7 Adelaide SA $134,200 Mitcham 5.0 4.9 4.8 Adelaide SA $117,500 West Torrens 4.8 4.6 4.4 Adelaide SA $107,900 Adelaide Hills 4.7 4.6 4.6 Adelaide SA $108,100

Most Adelaide LGAs require savings time of more than four years The majority (68.4%) of Adelaide LGAs (13 out of 19) require longer than four years for an FTB couple to save the deposit required on a median priced house, up from 63.2% in 2015. Looking at LGAs in South Australia with the longest savings time, Walkerville remains top of the list, taking FTB couples 7.4 years on average to save the required deposit of $172,500, followed by Burnside (6.8 years for a required deposit of $169,300) and Unley (6.7 years for a required deposit of $165,400).

Despite this, the South Australian housing market is relatively accessible for FTBs in comparison to other states. The required savings time in Walkerville of 7.4 years is well below that of the top LGA in NSW, Victoria and Western Australia where it takes the most time for an FTB couple to save a house deposit by at least five years.

Top 10 South Australian LGAs where it takes the least time for FTB couples to save a house deposit

Years to save Years to save Years to save Savings needed 20% house 20% house 20% house for 20% house LGA Name Region State deposit deposit deposit deposit (June 2016) (June 2015) (June 2011) (June 2016) Coober Pedy 0.9 1.2 1.0 Northern SA $17,500 Peterborough 1.0 1.2 1.0 Northern SA $16,700 Southern Mallee 1.2 1.3 1.3 Murray Lands SA $19,300 Whyalla 1.4 1.7 1.6 Northern SA $36,600 Mount Remarkable 1.5 1.5 1.4 Northern SA $31,500 Port Pirie 1.5 1.6 1.6 Northern SA $30,500 Northern Areas 1.5 1.5 1.4 Northern SA $30,900 Flinders Ranges 1.5 1.5 1.5 Northern SA $32,700 Roxby Downs 1.5 2.2 2.3 Northern SA $53,100 Port Augusta 1.6 1.7 1.8 Northern SA $35,800 SA

29 LIVERPOOL PLAINS NSW $35,700 1.69 LOCKHART NSW $30,900 1.59 One in four South Australian LGAs require less than two years to save for a house Across South Australia, 25.8% of LGAs require less than two years for an FTB couple to save a deposit on a median priced house, with all of these based outside of the capital city.

The quickest route into South Australia’s housing market is in Coober Pedy, where it takes just 0.9 years to save a $17,500 deposit on a median priced house. Peterborough (1.0 year for a required $16,700 deposit) and Southern Mallee (1.2 years for a required $19,300 deposit) round out the top three.

None of the 10 LGAs where it takes the least time for an FTB couple to save a house deposit have experienced an increase in required savings time, with Roxby Downs showing a notable decrease to 1.5 years from 2.2 years in 2015, largely due to a 29.3% decrease in the median house value in the area for the 12 months to June 2016.

Adelaide LGAs by savings time for FTB couples to save for a unit

Years to save Years to save Years to save Savings needed 20% unit 20% unit 20% unit for 20% unit LGA Name Region State deposit deposit deposit deposit (June 2016) (June 2015) (June 2011) (June 2016) Walkerville 3.4 3.6 3.6 Adelaide SA $78,400 Adelaide 3.4 3.5 3.4 Adelaide SA $77,100 Norwood Payneham And 3.2 3.3 3.1 Adelaide SA $74,000 St Peters Burnside 3.2 3.2 3.1 Adelaide SA $77,000 Unley 3.1 3.1 3.0 Adelaide SA $75,600 Holdfast Bay 3.1 3.2 3.2 Adelaide SA $73,600 Charles Sturt 3.0 3.0 2.9 Adelaide SA $66,900 Prospect 2.8 2.8 2.8 Adelaide SA $63,600 Campbelltown Sa 2.8 2.8 2.8 Adelaide SA $62,700 Marion 2.7 2.8 2.7 Adelaide SA $62,000 Mitcham 2.7 2.7 2.7 Adelaide SA $62,500 Adelaide Hills 2.7 2.8 2.8 Adelaide SA $60,500 West Torrens 2.6 2.7 2.6 Adelaide SA $57,200 Port Adelaide Enfield 2.5 2.6 2.7 Adelaide SA $54,000 Tea Tree Gully 2.5 2.5 2.5 Adelaide SA $54,800 Onkaparinga 2.3 2.4 2.4 Adelaide SA $48,400 Salisbury 2.2 2.3 2.4 Adelaide SA $46,800 Playford 1.8 1.9 1.6 Adelaide SA $35,900 Gawler 1.8 1.9 2.0 Adelaide SA $40,700

Deposit savings time for Adelaide units remains steady Walkerville and Adelaide FTB couples need to save for an average of 3.4 years for a deposit on a median priced unit ($78,400 and $77,100 respectively), the longest in South Australia. Norwood Payneham and St Peters (3.2 years for a required $74,000 deposit) and Burnside (3.2 years for a required $77,000 deposit) follow closely.

Across the LGAs, the required savings time for a median priced unit has either remained steady or fallen slightly year-on-year. The median value of Adelaide units rose slightly by 0.2% in the 12 months to June 2016, while average wage growth over the period was 2.2%, meaning Adelaide FTB couples now have a slight advantage in saving for their first unit.

URANA NSW $18,100 0.94 WAGGA WAGGA NSW $61,500 2.81 $50,600 2.32 WAKOOL NSW $35,400 1.85 WALCHA NSW $39,900 2.39 SA WALGETT NSW $27,700 1.46 WARREN NSW $26,700 1.49 WARRINGAH NSW $296,900 10.71 $146,100 5.44 WARRUMBUNGLE NSW 30$31,200 1.74 WAVERLEY NSW $492,700 15.89 $193,800 6.61 WEDDIN NSW $34,300 1.92 Annual number of First Time Buyers, South Australia (2006-2016) 14000

12000

10000

8000

6000

4000

2000

0 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Source: ABS

FTB numbers in South Australia flat lining The number of FTBs in South Australia declined by 2.3% in 2016, although this is below the national average decline of 3.8%. In the year to June 2016, there were 5,169 FTBs in the state, compared to 5,290 the previous year. FTBs make up 11.1% of the dwellings purchased, compared to 12.3% in 2015.

LIVINGSTONE QLD $73,500 2.98 $56,400 LOCKYER VALLEY REGIONAL QLD $57,600 3.14 $43,300 2.37 LOGAN CITY QLD $78,000 3.64 $47,400 2.23 LONGREACH REGIONAL QLD $39,600 1.91 MACKAY REGIONAL QLD $63,200 2.13 $53,600 1.81 MARANOA REGIONAL QLD $54,100 2.28 $54,300 MAREEBA QLD $63,300 3.32 MORETON BAY REGIONAL QLD $83,200 3.70 $64,100 2.86 MOUNT ISA CITY QLD $64,800 2.09 $61,900 2.00 MURWEH SHIRE QLD $29,600 1.50

NOOSA QLD $112,600 5.43 $89,800 4.36 SA NORTH BURNETT REGIONAL QLD $31,600 2.12 PAROO SHIRE QLD $8,500 0.45 QUILPIE SHIRE QLD $23,700 1.51 REDLAND CITY QLD $98,100 4.20 $68,900 2.97 ROCKHAMPTON REGIONAL QLD $54,80031 2.24 $55,800 2.28 SCENIC RIM REGIONAL QLD $80,700 3.81 $42,000 2.01 SOMERSET REGIONAL QLD $58,800 2.70 $61,000 2.80 8. ACT Deposit Trends

• FTB couples in the ACT need to save for an average of 4.3 years to raise a deposit on a median priced house, on par with 2015 (4.1 years). • In line with other states and territories, units provide a more accessible route to the property market. ACT FTBs need to save for an average of 3.0 years to raise a deposit on a median priced unit, unchanged compared with last year. • North and South Canberra have seen the largest year-on-year increase in required savings time for a median priced house (both up 0.6 years), while required savings time for a median priced unit are stagnant. Overall in the ACT, the average FTB couple requires 4.3 years to save a 20% deposit on a median priced house, on par with 2015 (4.1 years).

ACT LGAs by savings time for FTB couples to save for a house

Years to save Years to save Years to save Savings needed for 20% house 20% house 20% house LGA Name Region State 20% house deposit deposit deposit deposit (June 2016) (June 2016) (June 2015) (June 2011) South Canberra 7.0 6.4 6.4 ACT ACT $229,100 North Canberra 5.9 5.3 5.2 ACT ACT $167,900 Woden Valley 5.4 5.2 4.9 ACT ACT $153,600 Weston Creek 4.2 3.9 3.9 ACT ACT $122,300 Gungahlin 4.0 3.7 3.5 ACT ACT $112,200 Belconnen 3.9 3.8 3.7 ACT ACT $103,800 Tuggeranong 3.8 4.2 3.6 ACT ACT $100,000

South Canberra and North Canberra see increase in required savings time In South Canberra, it takes FTB couples an average of 7.0 years to raise the $229,100 deposit required on a median priced house, up from 6.4 years in 2015. North Canberra has seen a similar year-on-year increase in requiredKANGAR OOsavings ISLAND time. FTB couples in theSA LGA require$48,700 $167,900 for the2.88 deposit, which on average takes 5.9 yearsKAROO toND save,A EAS upT MfromURR 5.3AY years in 2015.SA $25,300 KINGSTON SA SA $45,100 2.35 TheseLIGHT LGAs have experienced the largestSA rise in median$69,700 house values of3.28 10.5% for South Canberra and 13.1% forLOW NorthER EYRE Canberra,PENINS UdrivingLA the year-on-yearSA increase$59,900 in savings time. 3.34 LOXTON WAIKERIE SA $37,800 2.14 TuggeranongMALLALA the LGA with the shortestSA savings time$66,500 for a house 3.13 TuggeranongMARION has experienced the greatestSA reduction$92,100 in required savings4.03 time relative$62,000 to all other 2.7LGAs3 in the ACTMID (0.4MURR years),AY causing it to overtake WestonSA Creek$4 and3,3 00Belconnen relative2.38 to 2015 as the LGA in which it takesMITCHAM the shortest time to save for a houseSA deposit.$117,500 The main driver of5.00 this reduced$62,500 savings time is 2.70an 11.0% fallMO inUNT the B medianARKER house value in Tuggeranong.SA Tuggeranong$80,500 FTB couples3.64 now only require$61,500 $100,000 for2.79 a depositMOUNT onGAM a medianBIER priced $500,000 hoSA use in the a$45,400rea. 2.28 $33,400 1.68 MOUNT REMARKABLE SA $31,500 1.46 MURRAY BRIDGE SA $46,300 2.70 $37,100 2.17 NARACOORTE LUCINDALE SA $43,700 2.33 NORTHERN AREAS SA $30,900 1.48 Norwood Payneham AND St Peters SA $148,900 6.38 $74,000 3.23 ONKAPARINGA SA $69,200 3.27 $48,400 2.30 PETERBOROUGH SA $16,700 1.02

ACT PLAYFORD SA $46,200 2.36 $35,900 1.84 PORT ADELAIDE ENFIELD SA $82,700 3.81 $54,000 2.50 PORT AUGUSTA SA $35,800 1.56 PORT LINCOLN SA 32$58,900 2.84 $51,900 2.50 Port Pirie SA $30,500 1.48 PROSPECT SA $128,300 5.62 $63,600 2.83 ACT

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T T T T T T T 00 3 ,400 AC AC AC AC AC AC AC 2014 2015 2016 State 4,000 4,500 8, 9,800 3 3 3 3 3 $42,800 $47,200 $40,900 $41,600 $45,900 $ $45,600 $58,100 $ $42,800 $59,800 $ $ $42,600 $52,900 $42,700 $64,900 $40,700 $59,800 $45,600 $41,600 $4 $108,600

T T T T T T T 2 7 3 AC AC AC AC AC AC AC 3 3 33 .12 . .26 . .46 .68 Region 2.56 2.68 2.59 3 2.18 0.47 2.74 3 2.04 2.88 6.08 3 2.00 2.44 1.75 2.05 3 2.28 2. 2.12 1.66 2.88 2.80 5.04 3 2.28 3 2.79 2.67 2.7 e

0 ouse 33 00 00 00 00 h 3.3 3.2 2.9 2.9 3.0 3.0 2.7 3 3 3 eposit ,0 ,200 d 3 7,900 1, 9,00 7,700 7,500 3 3 3 3 3 33 20% (June 2011) Years to v sa $47,200 $51,700 $46,000 $44,500 $45,200 $1 $56,500 $60,100 $ $60,800 $70,500 $41, $49,400 $ $ $74,100 $40, $45,100 $ $ $ $51,100 $54,800 $59,600 $42,700 $79,400 $56,200 $52,800 $54,600 $152,100 $106,000 e

ouse h 2.9 2.9 3.1 3.0 2.9 2.6 3.0 eposit median priced unit in the ACT is in Gungahlin, where it only takes 2.6 d AS AS AS AS AS AS AS AS AS AS AS AS AS AS AS AS AS AS AS AS AS AS AS AS AS AS 20% (June 2015) VIC VIC VIC VIC VIC T T T T T T T T T T T T T T T T T T T T T T T T T T Years to v sa e

ouse h 2.9 2.9 3.1 3.0 2.8 2.6 2.9 Annual number of First Time Buyers, ACT (2006-2016) ACT Time Buyers, Annual number of First Time to save a unit deposit for FTB couples in the ACT in the FTB couples for deposit a unit save to Time CIL eposit CIL CIL CIL d 20% UN (June 2016) UN Years to v sa CIL Y CIL CIL CIL CIL CIL CIL BA CIL CIL COUN CIL S CO S CO CIL SUN CO CIL G D CIL CIL CIL UN CO RD N COUN N COUN ND COUN COUN unit. A higher deposit of $97,600 is required in South Canberra, with the second longest unit. A higher deposit of $97,600 is OUN A ND

UN CO UN RI COUN UN CIL LA C TY LA COUN CIL EY EY CIL TY CIL T TY UN CO D CIL D D SP COUN CI CIL N CO

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rra W Y T TY CI VALL VALL H - ON OW e erra TY CO COUN T b b T CI R COUN reek CI alley E CE AH AMA C PORT N ERN ERN V T VALL an an E T COAS RA ENT CIL RT I H C C CES ET H ORCH ISH COUN NDER 2006 2007 2008 2009 2010 2011 2012 2013 T TT NE en RA W REN RA GBOROU 0 d SNDER UN CO L NYU EN UN TROBE ES ES EA RCULA N eston o ORT UON ORS RA ungahlin I ASMA LI 500 outh BA BASS COAS ALPI A BALLA WA W W RELLSO COUN UT SO T LA M N KENT K LA GL BA HO H GEORGET RGA GLAMO COUN DEN VO D F CI CLA DER BURN ALCENTR COAS ALCENTR HIGHLA W W G S Belconnen Tuggeranong North LGA NameLGA 1000 1500 2500 2000 3000 3500 in the ACT is largely stable across all LGAs. in the ACT is largely stable across all The shortest required savings time for a It takes three years for FTBs to save for a unit in the ACT for FTBs to save for a unit in the It takes three years for save the $85,600 deposit required to wait an average of 3.1 years to FTB couples need In North Canberra, a median priced required savings time of 3.0 years. years to save a unit deposit of $74,000. Relative to 2015, required savings time for a FTBs in the ACT declined by 9.9% in the 12 months to June 2016, while non-first home buyers increased by by increased home buyers June 2016, while non-first to 9.9% in the 12 months declined by FTBs in the ACT save to longer months three to or two 0.2 years on average, wait, to 11.6% during the same period. FTBs have 2015. to a unit in 2016 compared for ACT FTB numbers decline FTB numbers ACT Source: ABS 9. Editor’s Notes

The time taken for first time buyers to save a deposit has been calculated by comparing house and unit prices with income data for potential first time buyers (represented by 25-34 year olds) at a local government area level.

Calculations are based on first time buyers saving 20% of a median priced house or unit for established dwellings, as this represents 84.4% of all dwelling sales in Australia, according to the Australian Bureau of Statistics (ABS).

Deposit savings times have been calculated on the basis of a first time buyer couple setting aside 20% of their combined pre-tax income annually. The calculation assumes the savings from their salary is deposited in an online savings account each month and earns interest on this basis. Interest earned is assumed to be taxed at an individual’s marginal tax rate.

Income levels for 25-34 year olds have been used as a proxy for potential first time buyer incomes. Income data has been sourced at a local government area level. Average income data by local government area has GbeenLEN EsourcedIRA from the ABS Census 2011.VIC $262,300 10.55 $117,100 4.88 GLENELG VIC $41,100 1.90 $30,400 1.41 GIncomeOLDEN PlevelsLAINS by age and local governmentVIC area for$ 72016,3,700 2015 and 20113.39 have been$5 estimated4,800 using 2011 GCensusREATER data BEN DandIGO ABS Wage Price IndexVI Cdata by state.$63,900 3.08 $47,700 2.31 GREATER DANDENONG VIC $113,500 5.85 $68,600 3.59 GMedianREATER houseGEELO NandG unit prices have beenVIC sourced from$81,8 Residex00 and are3.6 5for the years$6 ending2,200 June 2011,2.79 June G2015REAT andER S HJunesEPPA R2016.TON Local areas haveVI Conly been included$48,100 where a minimum2.50 number$39 ,of00 0house sales2 .(2003 sales HoverEPB U2011RN and 2016 combined) have VbeenIC recorded$7 over5,200 the periods4 covered.03 in order$58, 9to0 0prevent sampling3.17 Hbias.INDM DataARS Hfor industry average onlineV savingsIC account$20 ,rates600 have been1. 1sourced2 from the Reserve Bank of HAustraliaOBSONS B(RBA).AY VIC $139,200 5.69 $91,300 3.78 HORSHAM VIC $46,600 2.37 $42,900 2.19 HUME VIC $79,000 3.57 $64,300 2.92 Data on the number of first time buyers and proportion of established home sales has been sourced from the INDIGO VIC $60,200 2.93 $38,900 1.90 ABS Housing Finance Series (ABS 5609). The ABS has updated the measurement of first time buyers for the KINGSTON VIC 12 VIC $159,300 6.52 $99,100 4.12 period October 2012 – July 2016 . Because of this, comparisons with first time buyer numbers in last year’s KNOX VIC $134,200 5.57 $93,800 3.93 report will show some variation. LATROBE VIC $43,900 1.82 $33,200 1.38 LODDON VIC $32,600 1.80 Data from previous reports may not match data published in this report due to updated data from the ABS, MACEDON RANGES VIC $103,300 4.41 $71,400 3.07 Residex and the RBA. MANNINGHAM VIC $224,500 8.64 $124,500 4.90 MANSFIELD VIC $66,700 3.70 $56,900 3.17 MTablesARIBY mayRNO NnotG sum due to rounding.V IC $157,500 6.70 $84,000 3.64 MAROONDAH VIC $140,300 5.86 $94,300 3.99 MELBOURNE VIC $215,500 8.72 $101,600 4.22 MELTON VIC $73,200 3.20 $53,900 2.37 MILDURA VIC $46,600 2.47 $32,900 1.75 MITCHELL VIC $66,100 2.94 $49,900 2.23 MOIRA VIC $46,500 2.46 $37,200 1.97 MONASH VIC $213,400 9.25 $128,700 5.70 MOONEE VALLEY VIC $183,400 7.06 $95,900 3.76 MOORABOOL VIC $77,300 3.38 $53,200 2.34 MORELAND VIC $151,800 6.58 $90,000 3.97 MORNINGTON PENINSULA VIC $119,500 5.40 $79,400 3.63 MOUNT ALEXANDER VIC $77,700 4.09 $63,000 3.34 MOYNE VIC $67,700 3.51 $75,300 3.89 M12 ABSUR R5609IND I–N HousingDI Finance, August 2016 releaseVIC (p5) for more$61 inform,900 ation 3.16 $47,300 2.43 NILLUMBIK VIC $148,200 5.90 $102,900 4.14

NOTES NORTHERN GRAMPIANS VIC $34,600 1.77 $32,400 EDITOR’S NOTES PORT PHILLIP VIC $34294,000 10.25 $110,600 4.01 PYRENEES VIC $42,000 2.23 QUEENSCLIFFE VIC $159,400 7.13 $102,900 4.67 10. Full List of Deposit Savings Time

Savings Savings needed Years to save needed for Years to save for 20% house LGA State house deposit 20% Unit unit deposit deposit (June 2016) deposit (June 2016) (June 2016) (June 2016) BELCONNEN ACT $103,800 3.92 $76,700 2.92 GUNGAHLIN ACT $112,200 3.96 $74,000 2.63 NORTH CANBERRA ACT $167,900 5.92 $85,600 3.07 SOUTH CANBERRA ACT $229,100 6.99 $97,600 3.05 TUGGERANONG ACT $100,000 3.76 $77,200 2.92 WESTON CREEK ACT $122,300 4.22 $82,200 2.86 WODEN VALLEY ACT $153,600 5.42 $79,000 2.83 ALBURY NSW $60,900 2.88 ARMIDALE DUMARESQ NSW $67,900 3.64 $52,000 2.80 ASHFIELD NSW $308,600 13.16 $137,900 6.14 BALLINA NSW $107,800 5.70 $81,300 4.33 BALRANALD NSW $29,500 1.69 BANKSTOWN NSW $182,400 7.82 $108,900 4.76 BATHURST REGIONAL NSW $71,500 3.20 $52,700 2.37 BEGA VALLEY NSW $79,000 4.17 $51,700 2.75 BELLINGEN NSW $86,300 4.98 $52,600 3.07 BERRIGAN NSW $37,500 1.96 BLACKTOWN NSW $130,900 5.58 $97,800 4.20 BLAND NSW $28,500 1.29 BLAYNEY NSW $51,700 2.14 BLUE MOUNTAINS NSW $112,400 4.88 $92,400 4.04 BOGAN NSW $28,700 1.19 BOMBALA NSW $33,300 1.69 BOOROWA NSW $43,100 2.26 BOTANY BAY NSW $282,700 10.83 $141,500 5.60 BOURKE NSW $27,800 1.26 BREWARRINA NSW $20,900 1.19 BROKEN HILL NSW $22,100 1.01 BURWOOD NSW $336,900 15.21 $158,900 7.52 BYRON NSW $140,800 8.97 $109,000 7.05 CABONNE NSW $39,500 1.78 CAMDEN NSW $133,900 5.12 $92,500 3.57 CAMPBELLTOWN NSW $110,800 4.91 $81,200 3.63 CANADA BAY NSW $375,700 12.32 $176,600 6.02 CANTERBURY NSW $235,200 10.83 $97,900 4.68 CARRATHOOL NSW $24,800 1.42 CENTRAL DARLING NSW $13,300 0.65 CESSNOCK NSW $61,000 2.48 $56,100 2.28

CITY OF AUBURN NSW $199,500 9.25 $117,400 5.57 FULL LIST CITY OF KOGARAH NSW $300,700 12.30 $134,200 5.71 CLARENCE VALLEY NSW $63,300 3.50 $60,000 3.32 COBAR NSW $40,700 1.43

35 COFFS HARBOUR NSW $87,600 4.69 $58,700 3.17 COOLAMON NSW $32,400 1.67 COOMA-MONARO NSW $47,300 2.25 COONAMBLE NSW $23,300 1.17 COOTAMUNDRA NSW $41,900 2.09 COROW` A NSW $47,600 2.43 $38,700 1.98 COWRA NSW $41,900 2.28 $30,800 1.68 DENILIQUIN NSW $38,500 1.91 $32,000 1.59 DUBBO NSW $64,500 3.00 $50,400 2.35 DUNGOG NSW $65,000 2.67 EUROBODALLA NSW $77,800 4.63 $53,100 3.19 FAIRFIELD NSW $146,200 6.57 $84,000 3.84 FORBES NSW $43,900 2.24 GILGANDRA NSW $31,100 1.55 GLEN INNES SEVERN SHIRE NSW $36,800 2.08 GLOUCESTER NSW $54,100 2.47 GOSFORD NSW $127,800 5.57 $92,700 4.07 GOULBURN MULWAREE NSW $67,500 3.16 $48,500 2.29 GREAT LAKES NSW $81,700 4.26 $61,900 3.24 GREATER HUME NSW $35,600 1.90 GREATER TAREE NSW $61,800 3.38 $46,500 2.55 GRIFFITH NSW $55,800 2.87 $47,100 2.43 GUNDAGAI NSW $42,300 2.10 GUNNEDAH NSW $56,600 2.48 $52,600 2.31 GUYRA NSW $39,500 2.48 GWYDIR NSW $29,300 1.53 HARDEN NSW $34,600 1.92 HAWKESBURY NSW $122,300 5.23 $91,700 3.95 HAY NSW $28,300 1.44 HOLROYD NSW $168,200 7.18 $100,000 4.34 HORNSBY NSW $245,500 9.04 $140,000 5.27 HUNTERS HILL NSW $509,800 15.16 $188,300 5.92 HURSTVILLE NSW $243,500 10.16 $124,900 5.37 INVERELL NSW $44,700 2.46 $50,700 2.79 JERILDERIE NSW $28,300 1.48 JUNEE NSW $40,400 2.00 KEMPSEY NSW $54,400 3.03 $48,200 2.69 KIAMA NSW $157,900 6.59 $101,500 4.30 KU-RING-GAI NSW $393,000 12.92 $172,200 5.91 KYOGLE NSW $45,800 2.60 LACHLAN NSW $30,300 1.65 LAKE MACQUARIE NSW $98,000 4.05 $78,300 3.25 LANE COVE NSW $440,000 13.36 $147,200 4.71 LEETON NSW $41,900 2.11 $36,400 1.83 LEICHHARDT NSW $296,800 8.80 $195,700 5.90 LISMORE NSW $66,600 3.78 $48,800 2.78 LITHGOW NSW $53,000 2.13 LIVERPOOL NSW $145,300 6.08 $89,200 LIVERPOOL PLAINS NSW $35,700 1.69 LOCKHART NSW $30,900 1.59 MAITLAND NSW $78,000 3.05 $60,400 3.08 MANLY NSW $438,900 14.43 $218,800 8.28 MARRICKVILLE NSW $258,300 10.00 $136,200 4.75 MID-WESTERN REGIONAL NSW $65,000 2.49 $68,200 2.76 MOREE PLAINS NSW $43,100 2.06 MOSMAN NSW $613,000 17.37 $180,600 5.48 MURRAY NSW $66,500 3.24 $43,200 2.12 MURRUMBIDGEE NSW $33,400 1.84 MUSWELLBROOK NSW $53,400 1.78 $43,600 1.46 FULL LIST NAMBUCCA NSW 36$65,600 3.86 $49,000 2.90 NARRABRI NSW $54,300 2.50 NARRANDERA NSW $31,800 1.74 MANLY NSW $438,900 14.43 $218,800 8.28 MARRICKVILLE NSW $258,300 10.00 $136,200 4.75 MID-WESTERN REGIONAL NSW $65,000 2.49 $68,200 2.76 MOREE PLAINS NSW $43,100 2.06 MOSMAN NSW $613,000 17.37 $180,600 5.48 MURRAY NSW $66,500 3.24 $43,200 2.12 MURRUMBIDGEE NSW $33,400 1.84 MUSWELLBROOK NSW $53,400 1.78 $43,600 1.46 NAMBUCCA NSW $65,600 3.86 $49,000 2.90 NARRABRI NSW $54,300 2.50 NARRANDERA NSW $31,800 1.74 NARROMINE NSW $39,000 1.98 NEWCASTLE NSW $106,300 4.28 $89,300 3.61 NORTH SYDNEY NSW $430,200 12.52 $193,500 5.85 OBERON NSW $51,100 2.24 ORANGE NSW $65,900 2.71 $46,400 1.86 PALERANG NSW $100,200 3.96 PARKES NSW $41,800 1.87 PARRAMATTA NSW $201,200 8.61 $116,000 5.07 PENRITH NSW $124,200 5.14 $87,800 3.66 PITTWATER NSW $300,900 11.36 $165,100 6.42 PORT MACQUARIE-HASTINGS NSW $93,200 4.61 $69,500 3.46 PORT STEPHENS NSW $89,000 3.89 $73,100 3.21 QUEANBEYAN CITY NSW $110,000 4.12 $60,200 2.28 RANDWICK NSW $392,900 13.69 $172,900 6.30 RICHMOND VALLEY NSW $54,500 3.02 $59,300 3.28 ROCKDALE NSW $254,300 10.80 $131,200 5.74 RYDE NSW $316,300 11.82 $138,200 5.37 SHELLHARBOUR NSW $107,200 4.50 $82,100 3.46 SHOALHAVEN NSW $87,900 4.31 $63,800 3.15 SINGLETON NSW $72,700 2.23 $57,300 1.76 SNOWY RIVER NSW $65,600 3.89 $48,800 2.91 STRATHFIELD NSW $410,800 17.86 $127,200 5.95 SUTHERLAND SH IRE NSW $228,000 8.05 $136,000 4.89 SYDNEY NSW $299,200 12.30 $166,500 7.07 TAMWORTH REGIONAL NSW $59,200 2.90 $45,900 2.26 TEMORA NSW $41,400 2.17 TENTERFIELD NSW $38,000 2.25 THE HILLS SHIR E NSW $232,000 8.26 $157,500 5.69 TUMBARUMBA NSW $31,800 1.71 TUMUT NSW $44,300 2.12 $41,100 1.97 TWEED NSW $101,700 5.15 $73,300 3.74 UPPER HUNTE R NSW $56,500 2.30 UPPER LACHLAN SHIRE NSW $56,900 2.72 URALLA NSW $50,100 2.91 URANA NSW $18,100 0.94 WAGGA WAGGA NSW $61,500 2.81 $50,600 2.32 WAKOOL NSW $35,400 1.85 WALCHA NSW $39,900 2.39 WALGETT NSW $27,700 1.46 WARREN NSW $26,700 1.49 WARRINGAH NSW $296,900 10.71 $146,100 5.44 WARRUMBUNGLE NSW $31,200 1.74 WAVERLEY NSW $492,700 15.89 $193,800 6.61 WEDDIN NSW $34,300 1.92 WELLINGTON NSW $32,500 1.61 WENTWORTH NSW $42,500 2.24 $33,400 1.77

WILLOUGHBY NSW $450,900 14.38 $176,100 5.91 FULL LIST WINGECARRIBEE NSW $120,900 5.57 $101,800 4.71 WOLLONDILLY NSW $117,600 4.72 $83,000 3.36 WOLLONGONG NSW $130,700 5.39 $97,200 4.04 WOOLLAHRA NSW $595,600 16.85 $226,400 6.78 WYONG NSW $97,400 4.53 $75,000 3.51 YASS VALLEY NSW $81,400 3.38 $67,600 2.82 YOUNG NSW $45,200 2.44 $51,300 2.77 37 ALICE SPRINGS NT $91,700 4.01 $63,200 2.79 BARKLY NT $52,800 2.64 WENTWORTH NSW $42,500 2.24 $33,400 1.77 WILLOUGHBY NSW $450,900 14.38 $176,100 5.91 WINGECARRIBEE NSW $120,900 5.57 $101,800 4.71 WOLLONDILLY NSW $117,600 4.72 $83,000 3.36 WOLLONGONG NSW $130,700 5.39 $97,200 4.04 WOOLLAHRA NSW $595,600 16.85 $226,400 6.78 WYONG NSW $97,400 4.53 $75,000 3.51 YASS VALLEY NSW $81,400 3.38 $67,600 2.82 YOUNG NSW $45,200 2.44 $51,300 2.77 ALICE SPRINGS NT $91,700 4.01 $63,200 2.79 BARKLY NT $52,800 2.64 DARWIN NT $115,400 4.76 $79,500 3.31 KATHERINE NT $72,900 3.10 PALMERSTO N NT $93,499 3.56 $67,700 2.59 BALONNE SHIRE QLD $40,000 2.09 BANANA SHIRE QLD $50,100 1.72 BARCALDINE REGIONA L QLD $35,600 1.85 BLACKALL TAMBO REGIONAL QLD $23,600 1.29 BRISBANE CITY QLD $130,400 5.28 $83,400 3.42 BUNDABERG REGIONA L QLD $54,400 2.90 $48,900 2.61 BURDEKIN SHIRE QLD $39,100 1.96 $34,600 1.74 CAIRNS REGIONAL QLD $78,400 3.81 $41,900 2.06 CARPENTARIA SHIRE QLD $40,000 1.88 CASSOWARY COAST REGIONAL QLD $47,800 2.74 $35,600 2.05 CENTRAL HIGHLANDS REGIONAL QLD $39,300 1.23 $47,800 1.49 CHARTERS TOWERS REGIONAL QLD $40,400 1.71 CLONCURRY SHIRE QLD $47,000 1.70 COOK SHIRE QLD $51,700 2.45 FLINDERS SHIRE QLD $23,500 1.03 FRASER COAST REGIONAL QLD $59,000 3.00 $45,800 2.34 GLADSTONE REGIONAL QLD $64,500 2.19 $49,800 1.70 GOLD COAST CITY QLD $118,400 5.62 $73,600 3.54 GOONDIWINDI REGIONAL QLD $51,000 2.52 GYMPIE REGIONAL QLD $54,800 2.82 $47,100 2.43 HINCHINBROOK SHIRE QLD $42,100 1.94 IPSWICH CITY QLD $64,700 2.90 $50,700 2.28 ISAAC REGIONAL QLD $26,400 0.69 LIVINGSTONE QLD $73,500 2.98 $56,400 LOCKYER VALLEY REGIONAL QLD $57,600 3.14 $43,300 2.37 LOGAN CITY QLD $78,000 3.64 $47,400 2.23 LONGREACH REGIONAL QLD $39,600 1.91 MACKAY REGIONAL QLD $63,200 2.13 $53,600 1.81 MARANOA REGIONAL QLD $54,100 2.28 $54,300 MAREEBA QLD $63,300 3.32 MORETON BAY REGIONAL QLD $83,200 3.70 $64,100 2.86 MOUNT ISA CITY QLD $64,800 2.09 $61,900 2.00 MURWEH SHIRE QLD $29,600 1.50 NOOSA QLD $112,600 5.43 $89,800 4.36 NORTH BURNETT REGIONAL QLD $31,600 2.12 PAROO SHIRE QLD $8,500 0.45 QUILPIE SHIRE QLD $23,700 1.51 REDLAND CITY QLD $98,100 4.20 $68,900 2.97 ROCKHAMPTON REGIONAL QLD $54,800 2.24 $55,800 2.28 SCENIC RIM REGIONAL QLD $80,700 3.81 $42,000 2.01 SOMERSET REGIONAL QLD $58,800 2.70 $61,000 2.80 SOUTH BURNETT REGIONAL QLD $40,400 1.88 $32,200 1.50 SOUTHERN DOWNS REGIONAL QLD $49,800 2.86 $43,800 2.52 SUNSHINE COAST REGIONAL QLD $101,900 4.93 $72,300 3.53 TABLELANDS REGIONAL QLD $60,600 3.18 $40,900 2.16 TOOWOOMBA REGIONAL QLD $70,600 3.29 $54,600 2.56 TOWNSVILLE CITY QLD $63,700 2.57 $48,200 1.95 WEIPA TOWN QLD $93,300 3.16 $69,800 2.37 WESTERN DOWNS REGIONAL QLD $47,000 2.08 $64,400 2.83 WHITSUNDAY REGIONAL QLD $63,100 2.99 $47,800 2.28

FULL LIST ADELAIDE SA $131,300 5.76 $77,100 3.43 38 ADELAIDE HILLS SA $108,100 4.71 $60,500 2.67 ALEXANDRINA SA $69,700 3.48 $51,400 2.58 BAROSSA SA $70,300 3.28 $47,800 SOUTHERN DOWNS REGIONAL QLD $49,800 2.86 $43,800 2.52 SUNSHINE COAST REGIONAL QLD $101,900 4.93 $72,300 3.53 TABLELANDS REGIONAL QLD $60,600 3.18 $40,900 2.16 TOOWOOMBA REGIONAL QLD $70,600 3.29 $54,600 2.56 TOWNSVILLE CITY QLD $63,700 2.57 $48,200 1.95 WEIPA TOWN QLD $93,300 3.16 $69,800 2.37 WESTERN DOWNS REGIONAL QLD $47,000 2.08 $64,400 2.83 WHITSUNDAY REGIONAL QLD $63,100 2.99 $47,800 2.28 ADELAIDE SA $131,300 5.76 $77,100 3.43 ADELAIDE HILLS SA $108,100 4.71 $60,500 2.67 ALEXANDRINA SA $69,700 3.48 $51,400 2.58 BAROSSA SA $70,300 3.28 $47,800 BARUNGA WEST SA $45,700 2.43 BERRI BARMERA SA $35,700 BURNSIDE SA $169,300 6.84 $77,000 3.18 CAMPBELLTOWN SA $105,400 4.63 $62,700 2.78 CEDUNA SA $48,600 2.65 CHARLES STURT SA $103,500 4.56 $66,900 2.98 CLARE AND GILBERT VALLEYS SA $51,200 2.47 CLEVE SA $37,300 2.09 COOBER PEDY SA $17,500 0.92 COPPER COAST SA $49,500 2.56 ELLISTON SA $44,300 2.46 FLINDERS RANGES SA $32,700 1.50 FRANKLIN HARBOUR SA $44,000 GAWLER SA $62,400 2.80 $40,700 1.83 GOYDER SA $34,500 1.91 GRANT SA $49,500 2.51 HOLDFAST BAY SA $134,200 5.57 $73,600 3.10 KANGAROO ISLAND SA $48,700 2.88 KAROONDA EAST MURRAY SA $25,300 KINGSTON SA SA $45,100 2.35 LIGHT SA $69,700 3.28 LOWER EYRE PENINSULA SA $59,900 3.34 LOXTON WAIKERIE SA $37,800 2.14 MALLALA SA $66,500 3.13 MARION SA $92,100 4.03 $62,000 2.73 MID MURRAY SA $43,300 2.38 MITCHAM SA $117,500 5.00 $62,500 2.70 MOUNT BARKER SA $80,500 3.64 $61,500 2.79 MOUNT GAMBIER SA $45,400 2.28 $33,400 1.68 MOUNT REMARKABLE SA $31,500 1.46 MURRAY BRIDGE SA $46,300 2.70 $37,100 2.17 NARACOORTE LUCINDALE SA $43,700 2.33 NORTHERN AREAS SA $30,900 1.48 NORWOOD PAYNEHAM AND ST PETERS SA $148,900 6.38 $74,000 3.23 ONKAPARINGA SA $69,200 3.27 $48,400 2.30 PETERBOROUGH SA $16,700 1.02 PLAYFORD SA $46,200 2.36 $35,900 1.84 PORT ADELAIDE ENFIELD SA $82,700 3.81 $54,000 2.50 PORT AUGUSTA SA $35,800 1.56 PORT LINCOLN SA $58,900 2.84 $51,900 2.50 PORT PIR IE SA $30,500 1.48 PROSPECT SA $128,300 5.62 $63,600 2.83 RENMARK PARINGA SA $37,600 2.24 ROBE SA $65,500 3.65 ROXBY DOWNS SA $53,100 1.51 FULL LIST SALISBURY SA $60,900 2.90 $46,800 2.24 SOUTHERN MALLEE SA $19,300 1.17 STREAKY BAY SA $49,600 2.55 TATIARA SA $29,600 1.75 TEA TREE GULLY SA $78,000 3.47 $54,800 2.45 THE COORONG SA $33,300 1.91 TUMBY BAY SA $56,200 2.85 UNLEY SA $165,40039 6.68 $75,600 3.12 VICTOR HARBOR SA $69,700 3.71 $50,800 2.72 WAKEFIELD SA $34,100 1.74 ROBE SA $65,500 3.65 ROXBY DOWNS SA $53,100 1.51 SALISBURY SA $60,900 2.90 $46,800 2.24 SOUTHERN MALLEE SA $19,300 1.17 STREAKY BAY SA $49,600 2.55 TATIARA SA $29,600 1.75 TEA TREE GULLY SA $78,000 3.47 $54,800 2.45 THE COORONG SA $33,300 1.91 TUMBY BAY SA $56,200 2.85 UNLEY SA $165,400 6.68 $75,600 3.12 VICTOR HARBOR SA $69,700 3.71 $50,800 2.72 WAKEFIELD SA $34,100 1.74 WALKERVILLE SA $172,500 7.38 $78,400 3.44 WATTLE RANGE SA $34,100 1.82 WEST TORRENS SA $107,900 4.82 $57,200 2.59 WHYALLA SA $36,600 1.43 WUDINNA SA $32,900 YANKALILLA SA $68,400 3.82 $33,000 1.86 YORKE PENINSULA SA $48,300 2.60 BREAK ODAY COUNCIL TAS $40,600 2.35 $36,500 2.12 BRIGHTON COUNCIL TAS $48,500 2.49 $40,700 2.09 BURNIE CITY COUNCIL TAS $41,300 2.00 $34,500 1.67 CENTRAL COAST COUNCIL TAS $49,400 2.44 $42,800 2.12 CENTRAL HIGHLANDS COUNCIL TAS $31,300 1.75 CIRCULAR HEAD COUNCIL TAS $39,000 2.05 CLARENCE CITY COUNCIL TAS $74,100 3.37 $59,800 2.73 DERWENT VALLEY COUNCIL TAS $40,300 2.28 $38,300 DEVONPORT CITY COUNCIL TAS $45,100 2.33 $39,800 2.24 DORSET COUNCIL TAS $37,700 2.12 FLINDERS COUNCIL TAS $37,500 GEORGE TOWN COUNCIL TAS $33,200 1.66 $42,600 2.13 GLAMORGAN-SPRING BAY COUNCIL TAS $51,100 2.88 $52,900 GLENORCHY CITY COUNCIL TAS $54,800 2.80 $42,700 2.19 HOBART CITY COUNCIL TAS $106,000 5.04 $64,900 3.12 HUON VALLEY COUNCIL TAS $59,600 3.46 $40,700 2.38 KENTISH COUNCIL TAS $42,700 2.28 KINGBOROUGH COUNCIL TAS $79,400 3.68 $59,800 2.79 LATROBE COUNCIL TAS $56,200 2.79 $45,600 2.27 LAUNCESTON CITY COUNCIL TAS $52,800 2.67 $41,600 2.11 MEANDER VALLEY COUNCIL TAS $54,600 2.73 $43,400 2.18 NORTHERN MIDLANDS COUNCIL TAS $47,200 2.56 $42,800 2.32 SORELL COUNCIL TAS $51,700 2.68 $47,200 2.45 SOUTHERN MIDLANDS COUNCIL TAS $46,000 2.59 TASMAN COUNCIL TAS $44,500 3.12 WARATAH-WYNYARD COUNCIL TAS $45,200 2.18 $40,900 1.98 WEST COAST COUNCIL TAS $13,000 0.47 WEST TAMAR COUNCIL TAS $56,500 2.74 $41,600 2.03 ALPINE VIC $60,100 3.32 $45,900 2.54 ARARAT VIC $37,900 2.04 $34,000 1.83 BALLARAT VIC $60,800 2.88 $45,600 2.17 BANYULE VIC $152,100 6.08 $108,600 4.39 BASS COAST VIC $70,500 3.26 $58,100 2.69 BAW BAW VIC $65,200 3.06 $50,000 2.36 BAYSIDE VIC $323,800 11.18 $148,900 5.33 BENALLA VIC $45,000 2.41 $34,300 1.84 BOROONDARA VIC $387,200 14.10 $133,900 5.15 BRIMBANK VIC $94,800 4.38 $66,100 3.08 BULOKE VIC $22,900 1.13 CAMPASPE VIC $52,500 2.67 $45,600 2.32 CARDINIA VIC $83,600 3.71 $56,400 2.52 CASEY VIC $90,500 4.06 $64,700 2.92 CENTRAL GOLDFIELDS VIC $39,200 2.25 $38,000 2.18 COLAC OTWAY VIC $59,100 2.96 $52,300 2.63 FULL LIST CORANGAMITE VIC 40$41,600 2.21 DAREBIN VIC $169,400 7.53 $84,500 3.84 EAST GIPPSLAND VIC $52,700 2.79 $44,300 2.35 BENALLA VIC $45,000 2.41 $34,300 1.84 BOROONDARA VIC $387,200 14.10 $133,900 5.15 BRIMBANK VIC $94,800 4.38 $66,100 3.08 BULOKE VIC $22,900 1.13 CAMPASPE VIC $52,500 2.67 $45,600 2.32 CARDINIA VIC $83,600 3.71 $56,400 2.52 CASEY VIC $90,500 4.06 $64,700 2.92 CENTRAL GOLDFIELDS VIC $39,200 2.25 $38,000 2.18 COLAC OTWAY VIC $59,100 2.96 $52,300 2.63 CORANGAMITE VIC $41,600 2.21 DAREBIN VIC $169,400 7.53 $84,500 3.84 EAST GIPPSLAND VIC $52,700 2.79 $44,300 2.35 FRANKSTON VIC $91,600 4.11 $64,100 2.90 GANNAWARRA VIC $32,400 1.72 GLEN EIRA VIC $262,300 10.55 $117,100 4.88 GLENELG VIC $41,100 1.90 $30,400 1.41 GOLDEN PLAINS VIC $73,700 3.39 $54,800 GREATER BENDIGO VIC $63,900 3.08 $47,700 2.31 GREATER DANDENONG VIC $113,500 5.85 $68,600 3.59 GREATER GEELONG VIC $81,800 3.65 $62,200 2.79 GREATER SHEPPARTON VIC $48,100 2.50 $39,000 2.03 HEPBURN VIC $75,200 4.03 $58,900 3.17 HINDMARSH VIC $20,600 1.12 HOBSONS BAY VIC $139,200 5.69 $91,300 3.78 HORSHAM VIC $46,600 2.37 $42,900 2.19 HUME VIC $79,000 3.57 $64,300 2.92 INDIGO VIC $60,200 2.93 $38,900 1.90 KINGSTON VIC VIC $159,300 6.52 $99,100 4.12 KNOX VIC $134,200 5.57 $93,800 3.93 LATROBE VIC $43,900 1.82 $33,200 1.38 LODDON VIC $32,600 1.80 MACEDON RANGES VIC $103,300 4.41 $71,400 3.07 MANNINGHAM VIC $224,500 8.64 $124,500 4.90 MANSFIELD VIC $66,700 3.70 $56,900 3.17 MARIBYRNONG VIC $157,500 6.70 $84,000 3.64 MAROONDAH VIC $140,300 5.86 $94,300 3.99 MELBOURNE VIC $215,500 8.72 $101,600 4.22 MELTON VIC $73,200 3.20 $53,900 2.37 MILDURA VIC $46,600 2.47 $32,900 1.75 MITCHELL VIC $66,100 2.94 $49,900 2.23 MOIRA VIC $46,500 2.46 $37,200 1.97 MONASH VIC $213,400 9.25 $128,700 5.70 MOONEE VALLEY VIC $183,400 7.06 $95,900 3.76 MOORABOOL VIC $77,300 3.38 $53,200 2.34 MORELAND VIC $151,800 6.58 $90,000 3.97 MORNINGTON PENINSULA VIC $119,500 5.40 $79,400 3.63 MOUNT ALEXANDER VIC $77,700 4.09 $63,000 3.34 MOYNE VIC $67,700 3.51 $75,300 3.89 MURRINDINDI VIC $61,900 3.16 $47,300 2.43 NILLUMBIK VIC $148,200 5.90 $102,900 4.14 NORTHERN GRAMPIANS VIC $34,600 1.77 $32,400 PORT PHILLIP VIC $294,000 10.25 $110,600 4.01 PYRENEES VIC $42,000 2.23 QUEENSCLIFFE VIC $159,400 7.13 $102,900 4.67 SOUTH GIPPSLAND VIC $58,600 2.77 $48,900 2.32 SOUTHERN GRAMPIANS VIC $39,600 2.05 $39,900 2.06 STONNINGTON VIC $365,900 12.91 $112,500 4.18 STRATHBOGIE VIC $50,700 2.53 $39,800 1.99 FULL LIST SURF COAST VIC $138,300 5.91 $100,400 4.33 SWAN HILL VIC $44,200 2.44 $39,400 2.17 TOWONG VIC $41,100 2.14 WANGARATTA VIC $53,900 2.74 $39,700 2.03

41 STONNINGTON VIC $365,900 12.91 $112,500 4.18 STRATHBOGIE VIC $50,700 2.53 $39,800 1.99 SURF COAST VIC $138,300 5.91 $100,400 4.33 SWAN HILL VIC $44,200 2.44 $39,400 2.17 TOWONG VIC $41,100 2.14 WANGARATTA VIC $53,900 2.74 $39,700 2.03 WARRNAMBOOL VIC $65,300 3.09 $48,200 2.29 WELLINGTON VIC VIC $49,600 2.10 $41,200 1.75 WEST WIMMERA VIC $22,600 1.39 WHITEHORSE VIC $203,600 8.41 $123,200 5.19 WHITTLESEA VIC $92,000 4.05 $68,500 3.03 WODONGA VIC $57,300 2.69 $38,900 1.83 WYNDHAM VIC $79,700 3.37 $61,300 2.61 YARRA VIC $236,200 8.74 $110,000 4.19 YARRA RANGES VIC $105,700 4.73 $81,000 3.65 YARRIAMBIACK VIC $19,500 1.19 ALBANY WA $72,600 3.53 $54,800 2.68 ARMADALE WA $73,700 2.84 $52,700 2.04 ASHBURTON WA $80,200 2.07 AUGUSTA-MARGARET RIVER WA $98,100 5.05 $69,000 3.58 BASSENDEAN WA $109,400 4.19 $81,000 3.13 BAYSWATER WA $114,500 4.31 $79,700 3.02 BELMONT WA $106,900 4.04 $81,200 3.08 BEVERLEY WA $49,200 2.32 BODDINGTON WA $52,300 1.81 BOYUP BROOK WA $35,000 1.59 BRIDGETOWN-GREENBUSHES WA $56,800 2.47 BROOME WA $92,300 4.04 $63,500 2.80 BROOKTON WA $36,700 2.18 BUNBURY WA $65,000 2.45 $56,600 2.14 BUSSELTON WA $100,900 4.48 $73,900 3.31 CAMBRIDGE WA $251,400 8.46 $66,800 2.33 CANNING WA $119,500 4.71 $85,800 3.26 CAPEL WA $79,500 3.02 CARNARVON WA $56,500 3.13 $39,900 2.22 CHITTERING WA $80,200 2.90 CLAREMONT WA $286,500 9.36 $137,200 4.61 COCKBURN WA $105,000 3.72 COLLIE WA $43,000 1.39 COOLGARDIE WA $23,600 0.67 COOROW WA $48,300 2.26 CORRIGIN WA $34,400 2.02 COTTESLOE WA $362,200 11.00 $147,900 4.67 CUNDERDIN WA $39,300 1.90 DANDARAGAN WA $67,400 2.99 DARDANUP WA $70,400 2.37 $56,800 3.14 DENMARK WA $78,900 4.33 DERBY-WEST KIMBERLEY WA $41,900 2.01 DONNYBROOK-BALINGUP WA $61,600 3.06 EAST FREMANTLE WA $249,900 8.37 $118,900 4.08 EAST PILBARA WA $55,900 1.54 ESPERANCE WA $67,100 2.98 $54,500 2.43 EXMOUTH WA $78,900 3.53 FREMANTLE WA $151,100 5.71 $117,800 4.48 GERALDTON-GREENOUGH WA $54,299 2.15 $48,800 2.48 GINGIN WA $73,400 3.71 GNOWANGERUP WA $21,000 1.04 GOSNELLS WA $83,800 3.33 $65,200 2.61 HARVEY WA $75,300 2.68 $51,500 1.84 IRWIN WA $65,700 2.53 JERRAMUNGUP WA $51,500 2.90 JOONDALUP WA $118,800 4.33 $88,700 3.25 KALAMUNDA WA $101,000 3.81 $79,700 3.02 KALGOORLIE-BOULDER WA $60,300 1.93 $48,900 1.57 FULL LIST KATANNING WA 42$36,200 1.77 KOJONUP WA $39,000 2.06 KWINANA WA $65,400 2.49 $42,500 1.63 GNOWANGERUP WA $21,000 1.04 GOSNELLS WA $83,800 3.33 $65,200 2.61 HARVEY WA $75,300 2.68 $51,500 1.84 IRWIN WA $65,700 2.53 JERRAMUNGUP WA $51,500 2.90 JOONDALUP WA $118,800 4.33 $88,700 3.25 KALAMUNDA WA $101,000 3.81 $79,700 3.02 KALGOORLIE-BOULDER WA $60,300 1.93 $48,900 1.57 KATANNING WA $36,200 1.77 KOJONUP WA $39,000 2.06 KWINANA WA $65,400 2.49 $42,500 1.63 MANDURAH WA $75,200 2.69 $59,100 3.14 MANJIMUP WA $49,500 2.64 MELVILLE WA $163,700 5.73 $114,300 4.04 MERREDIN WA $31,500 1.24 MOORA WA $32,800 1.51 MOSMAN PARK WA $255,800 9.84 $82,200 3.29 MUNDARING WA $94,000 3.56 $66,500 2.53 MURRAY WA WA $72,100 2.52 $49,400 1.73 NARROGIN WA $39,200 2.00 NEDLANDS WA $331,500 11.68 $136,300 5.00 NORTHAM WA $45,300 1.90 NORTHAMPTON WA $51,500 2.34 PEPPERMINT GROVE WA $686,300 19.71 PERTH WA $271,900 10.37 $98,000 3.89 PINGELLY WA $30,200 1.29 PLANTAGENET WA $40,600 2.13 PORT HEDLAND WA $92,500 2.52 $75,700 2.07 RAVENSTHORPE WA $38,600 1.49 ROCKINGHAM WA $78,200 2.74 $58,100 2.04 SERPENTINE-JARRAHDALE WA $86,600 3.14 SOUTH PERTH WA $189,000 6.48 $108,000 3.77 STIRLING WA $136,900 4.97 $88,100 3.23 SUBIACO WA $232,400 7.26 $109,900 3.51 SWAN WA $88,300 3.39 $70,300 2.71 TOODYAY WA $56,600 2.03 VICTORIA PARK WA $138,200 5.36 $96,900 3.79 VINCENT WA $183,300 6.81 $97,500 3.69 WAGIN WA $33,200 1.74 WANNEROO WA $86,700 3.26 $73,800 2.78 WAROONA WA $60,600 1.89 WONGAN-BALLIDU WA $33,100 1.46 WYNDHAM-EAST KIMBERLEY WA $65,200 2.76 YORK WA $61,100 2.61

FULL LIST

43