GYMPIE REGIONAL COUNCIL Minimum Temperature Ranges from 6.3ºC in July to 19.6ºC in 242 Mary Street Both January and February

GYMPIE REGION Economic Brief June 2015

Introduction Population The Gympie local government area (LGA), or Gympie region, The estimated resident population of the Gympie region was covers an area of almost 7,000 km2 and is part of the Wide 48,464 in 2014, representing an annual population increase Bay-Burnett region. The main centre for the region is the City of 368 persons, or 0.8% from the level recorded in 2013. The of Gympie which is located on Queensland’s main north- Gympie region grew at a similar annual rate in 2014 than south rail line and on the Bruce Highway, some 170 km and a the Wide Bay-Burnett region (0.8%) but slightly less than comfortable 2 hours drive north of Brisbane. Queensland (1.5%).

Population Recent economic data for the first half of 2015 indicates that, Gympie region whilst the labour market remains relatively weak, there are 70,000 some positive signals that suggest the regional economy Actual Projected may be slowly recovering from the downturn experienced 60,000 in 2013/14. This is currently being led by strong growth in the housing market, with an annual increase in house prices 50,000 of almost 10% to the March Quarter 2015, combined with increasing numbers and value of dwelling approvals over the 40,000 three quarters to June 2015. 30,000

The number of local businesses and turnover increased in 20,000 the year to June 2014, reversing the downward trend of previous years. The total change in population in 2014 also 10,000 ranked Gympie in the top 20% of all local government areas across Australia. Despite a recent cooling in rental demand, 0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2016 2021 2026 2031 2036 investment returns for residential property continue to significantly outperform those for Brisbane. Source: ABS 3218.0, OESR

The labour force within the Gympie region experienced Over the past five years, the population of the Gympie region positive growth during the March Quarter 2015, the first has increased by 2,690 persons, or an average annual rate of since the December Quarter 2012, whilst the recent extended 1.1%, which again was similar to the average for the Wide-Bay decline in employment has also slowed. This has been offset Burnett region (1.1%). however by an increase in the unemployment rate to above Population Growth 10% in the March Quarter 2015. Gympie region

4.0%

Actual Projected Wide-Bay Burnett Queensland

3.0%

2.0%

1.0%

0.0% 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2014 2016 2021 2026 2031 -16 -21 -26 -31 -36

SOUTH EAST CORNER Note: Changes are average annual % changes for 2014-36 Source: ABS 3218.0, OESR

Projections to the year 2036 show that the population of the Gympie region is expected to increase by 15,592 persons, or 1.3% per annum, to a level of approximately 64,056 persons.

Population Level Annual Avg ann % chg Level Avg ann % chg 2014 % change (2009-14) 2036 (2014-36) Gympie region 48,464 0.8 1.1 64,056 1.3 Wide-Bay Burnett 288,597 0.8 1.1 385,119 1.3 Queensland 4,722,447 1.5 1.8 7,095,177 1.9

Source: ABS 3218.0, OESR

OCI304 gympie.qld.gov.au Page 1 of 8 Business Activity

Gross Regional Product The estimated Gross Regional Product (GRP) for the Gympie Over the past five years, the economy of the Gympie region region was $2.0 billion in 2013/14, which represented a remained relatively unchanged, with the Health Care & Social contribution of 16.3% and 0.7%, respectively, to the gross Assistance industry experiencing the highest average annual regional / state product of the Wide Bay-Burnett region ($12.1 increase (4.0%), followed by Rental, hiring & Real Estate billion) and Queensland ($296.2 billion). The Gympie regional Services (3.1%); Information, Media & Telecommunications economy experienced a real annual decline of 7.7% in 2013/14, (2.3%); Construction (2.1%); and Retail Trade (1.8%). in contrast to the annual growth across Queensland (2.3%). Industry Value Added, Average Annual Growth Gympie region, 2008/09-2013/14 Gross Regional Product Gympie region, 2013/14 ($ million) Health care & social assistance Arts & recreation services Rental, hiring & real estate services Information media & telecommunications Mining Goods Sector Construction Information media & telecommunications Services Sector Retail trade Administrative & support services Arts & recreation services Other services Accommodation & food services Electricity, gas, water & waste services Other services Accommodation & food services Electricity, gas, water & waste services Rental, hiring & real estate services Financial & insurance services Professional, scientific & technical services Education & training Financial & insurance services Wholesale trade Transport, postal & warehousing Gross Regional Product Wholesale trade Administrative & support services Professional, scientific & technical services Public administration & safety Manufacturing Education & training Transport, postal & warehousing Retail trade Public administration & safety Health care & social assistance Agriculture, forestry & fishing Agriculture, forestry & fishing Mining Construction Manufacturing -15% -10% -5% 0% 5%

0 50 100 150 200 250 Source: Lawrence Consulting Source: Lawrence Consulting The Gympie region received a relatively higher industry With regard to industry, the largest contribution was made contribution to total GRP from the Agriculture, Forestry by the Manufacturing sector with approximately 10.5% of the & Fishing; Manufacturing; Construction; Retail Trade; total GRP for the Gympie region. Other significant contributors Accommodation & Food Services; Education & Training; Health to GRP were the Construction (10.4%), Agriculture, Forestry Care & Social Assistance; and Other Services sectors than & Fishing (9.1%), Health Care & Social Assistance (7.4%) and Queensland in 2013/14. Retail Trade (6.4%) sectors.

Gross Regional Product Industry Gympie region Queensland Level ($m) % of Annual Level ($m) % of Annual 2013/14 total % change 2013/14 total % change Agriculture, forestry & fishing 180.7 9.1 -18.6 7,058 2.4 -9.2 Mining 21.4 1.1 -18.7 26,658 9.0 8.7 Manufacturing 208.6 10.5 -6.7 19,026 6.4 -0.1 Electricity, gas, water & waste services 52.2 2.6 -10.0 10,327 3.5 -4.0 Construction 205.3 10.4 -4.7 30,207 10.2 5.5 Wholesale trade 87.2 4.4 -9.5 13,369 4.5 -2.9 Retail trade 126.7 6.4 -6.5 13,641 4.6 0.4 Accommodation & food services 55.2 2.8 -3.7 6,831 2.3 3.3 Transport, postal & warehousing 85.5 4.3 -10.7 15,003 5.1 -0.1 Information media & telecommunications 27.9 1.4 -1.1 5,412 1.8 4.3 Financial & insurance services 63.6 3.2 -6.3 17,146 5.8 2.3 Rental, hiring & real estate services 55.3 2.8 -5.8 8,299 2.8 1.3 Professional, scientific & technical services 59.7 3.0 -8.9 15,898 5.4 0.0 Administrative & support services 41.3 2.1 -11.4 7,037 2.4 -3.9 Public administration & safety 95.6 4.8 -7.3 16,249 5.5 4.2 Education & training 110.2 5.6 -5.0 13,007 4.4 2.9 Health care & social assistance 147.2 7.4 -2.4 19,245 6.5 5.3 Arts & recreation services 7.6 0.4 -2.9 1,761 0.6 4.4 Other services 50.1 2.5 -2.5 5,538 1.9 4.5 Total Industry Value Added 1,681.2 85.0 -7.9 251,712 85.0 2.2

Ownership of dwellings 173.1 8.7 -7.8 25,909 8.7 2.2 Taxes less subsidies on production and imports 127.8 6.5 -10.0 19,140 6.5 -0.2 Statistical discrepancy -3.5 -0.2 -525 -0.2

Gross Regional Product 1,978.6 100.0 -7.7 296,235 100.0 2.3

Note: All values are in current prices. Source: Lawrence Consulting

OCI304 Gympie Region Economic Brief June 2015 Page 2 of 8 Business Activity

Productivity Productivity is a key component of economic growth and is The Financial & Insurance Services sector recorded the highest a measure of the efficiency of production within a region. industry productivity level ($201.66) in the Gympie region in Dividing the GRP of a region by total hours worked will 2013/14, followed by Electricity, Gas, Water & Waste Services measure the labour productivity within that region, i.e. the ($165.71), Mining ($141.67) and Wholesale Trade ($111.17). average amount of output produced by an hour worked by a Productivity, Annual Industry Growth person within that region. Gympie region, 2013/14

Financial & insurance services The Gympie region recorded total industry productivity (or Accommodation & food services industry value added per hour worked) of $58.81 in 2013/14, Wholesale trade Agriculture, forestry & fishing which was higher than the average for the Wide Bay-Burnett Construction region ($56.62) but slightly below Queensland ($62.19). Transport, postal & warehousing Education & training Information media & telecommunications Health care & social assistance The Gympie region recorded slight annual growth of 0.1% in Rental, hiring & real estate services industry productivity in 2013/14, which was in contrast to the Public administration & safety Professional, scientific & technical services average decrease for the Wide Bay-Burnett region (down 0.5%) Total Industry but lower than the growth for Queensland (0.9%). Other services Mining Arts & recreation services Industry Productivity Administrative & support services Gympie region ($value added/hr worked), 2013/14 Retail trade Manufacturing Arts & recreation services Electricity, gas, water & waste services Other services Retail trade -20% -10% 0% 10% 20% Accommodation & food services Health care & social assistance Source: Lawrence Consulting Education & training Administrative & support services Manufacturing The Financial & Insurance Services industry experienced the Professional, scientific & technical services Total Industry highest annual productivity increase in the Gympie region in Public administration & safety 2013/14 (up 16.5%), followed by the Accommodation & Food Agriculture, forestry & fishing Transport, postal & warehousing Services (up 12.8%), Wholesale Trade (up 8.1%), Agriculture, Construction Rental, hiring & real estate services Forestry & Fishing (up 6.6%) and Construction (up 6.1%) Information media & telecommunications sectors. Wholesale trade Mining Electricity, gas, water & waste services The Gympie region recorded higher industry productivity in Financial & insurance services the Agriculture, Forestry & Fishing; Electricity, Gas, Water & $0 $50 $100 $150 $200 $250 Waste Services; Construction; Retail Trade; Accommodation Source: Lawrence Consulting & Food Services; Administrative & Support Services; Public Administration & Safety; Education & Training; Health Care & Social Assistance; Arts & Recreation Services; and Other Services sectors than both the Wide Bay-Burnett region and Queensland in 2013/14.

Productivity Industry Gympie region Wide Bay-Burnett Queensland Level Annual Level Annual Level Annual ($GRP/hr % change ($GRP/hr % change ($GRP/hr % change worked) worked) worked) 2013/14 2013/14 2013/14 Agriculture, forestry & fishing 64.56 6.6 60.01 5.8 61.92 6.6 Mining 141.67 -3.5 150.96 -1.6 158.68 -0.8 Manufacturing 54.01 -9.7 57.23 -8.9 52.36 -9.7 Electricity, gas, water & waste services 165.71 -13.4 144.65 -14.0 141.18 -14.1 Construction 72.79 6.1 61.01 4.0 63.13 5.0 Wholesale trade 111.17 8.1 112.46 8.5 105.87 8.3 Retail trade 35.05 -7.3 34.03 -7.9 33.69 -8.2 Accommodation & food services 37.43 12.8 36.09 13.2 36.45 13.7 Transport, postal & warehousing 70.61 6.0 79.30 7.3 69.65 6.5 Information media & telecommunications 104.93 3.6 104.95 4.1 101.12 4.4 Financial & insurance services 201.66 16.5 209.04 17.5 165.87 15.1 Rental, hiring & real estate services 92.97 2.2 97.57 2.9 92.20 2.5 Professional, scientific & technical services 56.29 0.2 56.57 -0.1 49.15 -1.3 Administrative & support services 52.98 -5.8 48.11 -7.3 46.89 -7.5 Public administration & safety 63.34 2.1 61.24 1.7 61.11 2.0 Education & training 48.53 4.0 47.18 3.7 46.52 3.6 Health care & social assistance 48.25 2.9 47.99 3.5 46.24 3.2 Arts & recreation services 33.07 -4.9 28.13 -6.4 28.30 -6.2 Other services 34.56 -2.6 32.09 -3.4 31.74 -3.1

Total Industry 58.81 0.1 56.62 -0.5 62.19 0.9

Note: All values are in current prices, whilst annual changes are in chain volume measures. Source: Lawrence Consulting

OCI304 Gympie Region Economic Brief June 2015 Page 3 of 8 Business Activity

Local Business Turnover The most recent ABS Australian Business Register indicated Average Industry Turnover there were 4,316 local business entities registered in the Gympie region, 2013/14 ($ million) Gympie region in June 2014, which represented a small annual Public administration & safety Arts & recreation services increase of 0.2% from the level recorded in June 2013 (4,309). Financial & insurance services Agriculture, forestry & fishing Non classifiable industry Agriculture, Forestry & Fishing is the largest industry in terms Education & training Administrative & support services of business numbers in the Gympie region, accounting for Rental, hiring & real estate services Information media & telecommunications 26.8% of all businesses, followed by Construction (16.7%), Construction Rental, Hiring & Real Estate Services (9.8%) and Retail Trade Professional, scientific & technical services All Industries (7.2%). Transport, postal & warehousing Other services Businesses by Industry Health care & social assistance Gympie region, June 2014 Electricity, gas, water & waste services Manufacturing Accommodation & food services Agriculture, forestry & fishing Mining Mining Wholesale trade Manufacturing Retail trade Electricity, gas, water & waste services Construction 0 200 400 600 800 Wholesale trade Retail trade Source: ABS 8165.0 Accommodation & food services Transport, postal & warehousing Information media & telecommunications Businesses by Turnover Financial & insurance services Gympie region, 2013/14 Rental, hiring & real estate services Professional, scientific & technical services $500,000-$2 million Administrative & support services 11.9% $2+ million Public administration & safety 3.9% Education & training $200,000-$499,999 Health care & social assistance 18.1% Arts & recreation services Other services Non classifiable industry

0 200 400 600 800 1,000 1,200

Source: ABS 8165.0

The estimated total turnover of all local industry in the Gympie $100,000-$199,999 region was $1.5 billion in 2013/14, representing an annual 17.4% increase of 1.3%, whilst the average turnover of all businesses $0-$99,999 48.7% was approximately $336,200 (up 1.1%).

The largest proportion of businesses (48.6%) recorded annual Source: ABS 8165.0 turnover in the $0-$99,999 range, followed by the $200,000- $499,999 (18.1%) and $100,000-$199,999 (17.4%) turnover ranges.

Businesses by Industry Industry Count % of Estimated total % of Average 2013/14 total turnover ($m) total turnover ($’000) Agriculture, forestry & fishing 1,156 26.8 197.7 13.6 171.0 Mining 12 0.3 7.8 0.5 650.0 Manufacturing 160 3.7 88.2 6.1 551.3 Electricity, gas, water & waste services 15 0.3 7.6 0.5 505.0 Construction 722 16.7 239.8 16.5 332.2 Wholesale trade 105 2.4 73.6 5.1 701.0 Retail trade 309 7.2 226.3 15.6 732.3 Accommodation & food services 158 3.7 95.9 6.6 607.1 Transport, postal & warehousing 272 6.3 95.2 6.6 349.8 Information media & telecommunications 17 0.4 5.5 0.4 320.6 Financial & insurance services 166 3.8 26.9 1.9 162.0 Rental, hiring & real estate services 424 9.8 116.3 8.0 274.3 Professional, scientific & technical services 230 5.3 77.1 5.3 335.3 Administrative & support services 107 2.5 28.1 1.9 262.1 Public administration & safety 3 0.1 0.1 0.0 25.0 Education & training 41 0.9 9.0 0.6 219.5 Health care & social assistance 128 3.0 63.2 4.4 493.4 Arts & recreation services 30 0.7 3.9 0.3 130.8 Other services 200 4.6 75.8 5.2 379.1 Non classifiable industry 61 1.4 13.2 0.9 215.6

Total, 2013/14 4,316 100.0 1,451.0 100.0 336.2 Total, 2012/13 4,309 1,432.7 332.5 Annual % change 0.2 1.3 1.1

Source: ABS 8165.0

OCI304 Gympie Region Economic Brief June 2015 Page 4 of 8 Employment

Labour Market Participation Rate The estimated number of employed persons in the Gympie The participation rate (i.e. the proportion of the resident region was 17,667 in the March Quarter 2015, which population aged 15 and over in the labour force) in the represented an annual decrease of 6.6% from the level Gympie region was estimated at 53.6% in 2014, which recorded in the March Quarter 2014. Employment also fell for represented a significant annual decrease of 3.8 percentage the tenth consecutive quarter in the Gympie region. points from the level recorded in 2013 (57.5%). The Unemployment Rate participation rate in the Gympie region was lower than the rate for Queensland (64.7%) in 2014. 12% Participation Rate Gympie region Wide Bay-Burnett Queensland Australia

10% 80%

Gympie region Queensland

8% 70%

6% 60%

50%

40% 0% Mar-12 Sep-12 Mar-13 Sep-13 Mar-14 Sep-14 Mar-15

30% Source: DEEWR, Lawrence Consulting 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

Source: ABS 3218.0, DEEWR & Lawrence Consulting Labour Market Level Qtrly Ann Mar Qtr 2015 % chg % chg Participation Rate Employed persons (no.) 17,667 -1.0 -6.6 Level (%) Level (%) Ann Unemployed (no.) 2,034 15.5 22.4 2014 2013 % chg(a) Unemployment rate(a) (%) 10.3 1.3 2.2 Gympie region 53.6 57.5 -3.8 Labour force (no.) 19,701 0.5 -4.2 Queensland 64.7 65.0 -0.3

Note: (a) Unemployment rate changes are percentage point changes. Note: (a) Changes are percentage point changes. Source: DEEWR, Lawrence Consulting Source: ABS 3218.0, DEEWR & Lawrence Consulting

The unemployment rate in the Gympie region rose by 1.3 Age Distribution & Dependency Ratio percentage points to 10.3% in the March Quarter 2015, which also represented an annual increase of 2.2 percentage points. Between 2009 and 2014, the average age of the population Unemployment in the Gympie region is lower than the average of the Gympie region increased by 1.5 years to 41.2 years. By for the Wide Bay-Burnett region (11.0%) but higher than comparison, the average age for Queensland rose by 0.7 years Queensland (6.5%) and Australia (6.1%). to 37.3 years in 2014.

Annual Employment Growth Age Distribution Change in % share, 2009-14 Gympie region

10% 0-4 5-9 Gympie region 10-14 Queensland 15-19 20-24 5% 25-29 30-34 35-39 40-44 0% 45-49 50-54 55-59 60-64 65-69 -5% 70-74 75-79 80-84 85+

-10% -1.5 -1.0 -0.5 0.0 0.5 1.0 1.5 2.0 Dec-10 Jun-11 Dec-11 Jun-12 Dec-12 Jun-13 Dec-13

Source: DEEWR, Lawrence Consulting Source: ABS 3235.0

The labour force in the Gympie region rose by 0.5% to The dependency ratio – i.e. the ratio of the economically approximately 19,701 persons in the March Quarter 2015, dependent proportion of the population to the productive part representing the first quarterly growth rate since the December – for the Gympie region was 67.6% in 2014, which was higher Quarter 2012. The number of unemployed persons in the than the average for Queensland (51.0%). Between 2009 and region increased by 15.5% during the March Quarter 2015. 2014, the dependency ratio for the Gympie region increased by 8.9 percentage points.

OCI304 Gympie Region Economic Brief June 2015 Page 5 of 8 Housing & Development

Dwelling Approvals Construction The number of dwellings approved in the Gympie region was The value of non-residential building approvals in the Gympie 264 in the year to the June Quarter 2015, which represented an region decreased by 61.1% to $20.8 million in the year to the annual decrease of 7.0% from the level recorded in the year to June Quarter 2015. the June Quarter 2014 (284). Value of Non-Residential Building Approvals Gympie region ($'000) Number of Dwelling Approvals Gympie region 40,000

120 Private Public New Houses Other Dwelling Units

100 30,000

80 20,000

40 10,000

20 0 Jun-12 Dec-12 Jun-13 Dec-13 Jun-14 Dec-14 Jun-15 0 Jun-12 Dec-12 Jun-13 Dec-13 Jun-14 Dec-14 Jun-15 Source: ABS 8731.3 Source: ABS 8731.3 Household Projections The total value of residential buildings approved in the Gympie region was $66.1 million in the year to the June Quarter 2015, Household projections to the year 2036 indicate that the representing an annual decrease of 8.4%. number of households in the Gympie region will increase from 20,643 in 2011 to 29,048 in 2036. This represents a total Value of Dwelling Approvals Gympie region ($'000) increase of 8,405 households, or an average annual increase of 1.4% over the period. The annual growth in households 30,000 in the Gympie region between 2011 and 2036 is lower than New Houses Other Residential Alterations & Additions the averages for the Wide Bay-Burnett region (1.5%) and 25,000 Queensland (2.0%).

20,000 Number of Households Gympie region

15,000 2.40 30,000 Households (RHS) Persons per household (LHS) 10,000 2.35 25,000

5,000 2.30 20,000

2.25 15,000 0 Jun-12 Dec-12 Jun-13 Dec-13 Jun-14 Dec-14 Jun-15

2.20 10,000 Source: ABS 8731.3

Building Approvals 2.15 5,000 Gympie region Wide Bay-Burnett Level Ann Level Ann 2.10 0 Yr to Jun % chg Yr to Jun % chg 2011 2016 2021 2026 2031 2036 Qtr 2015 Qtr 2015 Number Source: OESR Dwellings: 264 -7.0 1,498 3.0 New houses 233 0.0 1,340 3.9 Household Projections Other dwellings 31 -39.2 158 -3.7 Household type Level Level Avg ann 2011 2036 % chg Value ($’000) 2011-36 Dwellings: 66,084 -8.4 388,216 1.4 Gympie region 20,643 29,048 1.4 New houses 51,837 -1.0 310,908 3.8 Wide Bay Burnett 121,670 177,637 1.5 Other dwellings 4,143 -57.1 25,481 -17.3 Queensland 1,779,461 2,939,500 2.0 Alterations & additions 10,103 -0.1 51,828 -1.4 Non-dwelling 20,819 -61.1 165,512 -26.5 Source: OESR

Total building 86,901 -30.8 553,729 -9.0

Source: ABS 8731.3

OCI304 Gympie Region Economic Brief June 2015 Page 6 of 8 Property Market

Property Sales Weekly Rents The median house price for the Gympie region was $273,750 Median weekly rental prices for two bedroom units in the in the March Quarter 2015, which represented a significant Gympie region increased by 2.9% over the year to the March annual increase of 9.5% from the figure recorded in the March Quarter 2015, whilst rents for three bedroom houses remained Quarter 2014 ($250,000). unchanged.

Median House Sales Price Median Weekly Rents $'000 Separate Houses & Units/Townhouses

700 $500 Gympie (2bd unit) Gympie (3bd house) Gympie region Brisbane Brisbane (2bd unit) Brisbane (3bd house) 600 $400

500

$300 400

300 $200

200

$100 100

0 $0 Mar-12 Sep-12 Mar-13 Sep-13 Mar-14 Sep-14 Mar-15 Mar-12 Sep-12 Mar-13 Sep-13 Mar-14 Sep-14 Mar-15

Source: REIQ Source: Residential Tenancies Authority

Median House Sales Prices Median Weekly Rents Region Level Annual Median house Gympie region Brisbane Mar Qtr 2015 % change price index Level ($) Ann Level ($) Ann Gympie region 273,750 9.5 47.2 Mar Qtr % chg Mar Qtr % chg Sunshine Coast 489,000 5.2 84.3 2015 2015 Fraser Coast 285,500 -4.8 49.2 One bedroom flats 200 0.0 335 6.3 Bundaberg 283,000 5.0 48.8 Two bedroom flats 210 2.9 410 2.5 Gladstone 379,500 -9.1 65.4 Three bedroom flats 223 1.4 510 2.0 Rockhampton 300,000 -9.0 51.7 Brisbane 580,000 3.6 100.0 Two bedroom houses 235 2.2 380 -2.6 Three bedroom houses 260 0.0 430 2.4 Source: REIQ Four bedroom houses 315 -1.6 520 2.0

Two bedroom townhouses 380 22.6 390 1.3 Median House Price Index Three bedroom townhouses 250 n.a. 415 1.2 The median house price index for the Gympie region in the Source: Residential Tenancies Authority March Quarter 2015 was 47.2 when compared to Brisbane (index of 100), which represented an annual increase of 2.6 points from the level recorded in the March Quarter 2014 Rental Yields (44.6). The average gross housing rental yield in the Gympie region Median House Price Index was 4.9% in the March Quarter 2015, which was significantly March Quarter 2015 higher than the average for Brisbane (3.9%).

110 Rental Yields Separate Houses 100

90 6.0% Gympie region Brisbane 80

60 5.0%

40 4.0% 30

10 3.0% 0 Gympie Sunshine Fraser Coast Bundaberg Gladstone Rockhampton Brisbane Coast

Note: Brisbane = 100 2.0% Source: REIQ, Lawrence Consulting Mar-12 Sep-12 Mar-13 Sep-13 Mar-14 Sep-14 Mar-15

Source: Residential Tenancies Authority

OCI304 Gympie Region Economic Brief June 2015 Page 7 of 8 Summary

Key Economic Indicators Period Level Level – Change Annual % change 12 mths ago Population & Households Estimated resident population 2014 48,464 48,096 +368 0.8% Projected population 2036 64,056 n.a. +15,592 1.3% Projected households 2036 29,048 n.a. +8,405 1.4% Per capita income ($) 2010/11 17,322 16,293 +1,029 6.3% Average wage & salary income ($) 2010/11 40,276 38,285 +1,991 5.2%

Employment Employed persons (no.) Mar Qtr 2015 17,667 18,911 -1,244 -6.6% Unemployment rate (%) (a) Mar Qtr 2015 10.3 8.1 +2.2 2.2% Labour force (persons) Mar Qtr 2015 19,701 20,573 -872 -4.2% Participation rate (%) (a) 2014 53.6 57.5 -3.8 -3.8%

Business Investment Gross regional product ($ million) 2013/14 1,978.6 2,130.8 -152.2 -7.7% Real GRP per capita ($) 2013/14 40,833 44,815 -3,982 -8.9% Productivity ($GRP/hr worked) 2013/14 58.81 58.73 +0.08 0.1% Number of businesses June 2014 4,316 4,309 +7 0.2% Total industry turnover ($ million) 2013/14 1,451.0 1,432.7 +18.3 1.3% Average industry turnover ($’000) 2013/14 336.2 332.5 +3.7 1.1%

Building & Construction Number of dwelling approvals Yr to Jun Qtr 2015 264 284 -20 -7.0% Value of dwelling approvals ($’000) Yr to Jun Qtr 2015 66,084 72,135 -6,051 -8.4% Value of non-dwelling approvals ($’000) Yr to Jun Qtr 2015 20,819 53,525 -32,706 -61.1%

Property Market Median sales price – houses ($) Mar Qtr 2015 273,750 250,000 +23,750 9.5% Median weekly rent – 2bd unit ($) Mar Qtr 2015 210 208 +2 1.0% Median weekly rent – 3bd house ($) Mar Qtr 2015 260 260 0 0.0% Rental yield – separate houses (%)(a) Mar Qtr 2015 4.9 5.4 -0.5 -0.5%

Note: (a) Changes are percentage point changes.

Climate For More Information The average mean maximum temperature for Gympie ranges from 21.9ºC in July to 31.3ºC in December, whilst the mean GYMPIE REGIONAL COUNCIL minimum temperature ranges from 6.3ºC in July to 19.6ºC in 242 Mary Street both January and February. Average annual rainfall in Gympie Gympie QLD 4570 is 1,128.7mm, with February typically being the wettest month (168.9mm). Telephone: (07) 5481 0744 E-mail: [email protected] Climate Averages Gympie Web: gympie.qld.gov.au

mm 'C 210 35 DISCLAIMER: The data produced in Gympie Regional Economic Brief is believed to be the most recent and accurate data available at the time of publication. No Rainfall (LHS) Max (RHS) Min (RHS) responsibility is accepted for any inadvertent errors. 180 30 COPYRIGHT: The concepts and information contained in this document are the 150 25 property of Gympie Regional Council. Use or copying of this document in whole or in part without written permission of Gympie Regional Council constitutes an 120 20 infringement of copyright.

90 15 Prepared by:

60 10

30 5 PO Box 2567, Toowoomba Q 4350 0 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec P +61 7 4613 0206 M 0437 180 566 E [email protected] W www.lawrenceconsulting.com.au Source: Bureau of Meteorology

OCI304 Gympie Region Economic Brief June 2015 Page 8 of 8