Sanctuary Point Property Factsheet 1st Half 2019 OVERVIEW Located around 200km south of Sydney, Sanctuary Point is a coastal locality in the City of Shoalhaven LGA. The most preferred method of sale for the area is private treaty, as shown through low auction sales volumes and an auction clearance rate of 45.8% in Q4 2018 across the City of Shoalhaven LGA. CHANGE FROM HALF YEAR LAST YEAR House Sales House Median Price MARKET CONDITIONS House Rental Price Land Sales Q4 2018 saw Sanctuary Point* record a median house price of $470,000 and a median vacant land price of $315,000. This represents annual price growth of 9.3% Land Median Price (house) and 53.7% (vacant land) between Q4 2017 to Q4 2018. By comparison, the 2nd Half 2018 Sanctuary Point Property Factsheet reported annual (Q2 2017 – Q2 2018) price growth of 14.6% (house) and 5.8% (vacant land). Houses in Sanctuary FUTURE DEVELOPMENTS** Point* have grown at a more affordable rate whilst land outpaced previous growth. Sanctuary Point* is scheduled to invest The wider City of Shoalhaven Local Government Area (LGA) saw median prices of approximately $180.5M of development st $550,000 (house) and $355,000 (vacant land) in Q4 2018. This represented annual in the 1 half of 2019. A majority of this is price changes of -2.0% for houses and +24.6% for vacant land. Sanctuary Point* as a mixed-use, at $116.0M (64.3%). Other more affordable market compared to the wider LGA, with higher overall price growth project spending is commercial ($32.9M over the past 12 months to Q4 2018. or 18.2%), residential ($29.4M or 16.3%) and infrastructure ($2.2M or 1.2%). Average vendor discounting for houses in Sanctuary Point* has widened to -8.0% for houses and -6.2% for vacant land as of Q4 2018. This means that buyers have been Investment spending across all of these able to secure greater discounts below a property’s first list price. That said total areas is vital to ensure population growth property transactions declined across the 12 months to Q4 2018, increasing their within the area is well supported by jobs, scarcity and driving up values – as seen through positive annual median price growth infrastructure, and adequate housing. for both house and land. Thus now is the time to transact in the market as both buyers and sellers can benefit from current market conditions. A major project is the Anson Street Mixed Development ($116.0M). The concept The median rental price for houses in Sanctuary Point* has increased by 2.0% to masterplan includes 380 apartments and $380 per week in the 12 months to Q4 2018. At the same time, the number of houses commercial tenancies with 783 car parks. rented increased by 32.0%, whilst vacancies remained at a healthy rate of 2.5%. This This project is set to benefit Sanctuary is lower than the Shoalhaven LGA (3.7%) and Sydney Metro (3.6%) vacancy rates, Point* by providing both local job growth thus a healthier investment environment and rental demand in Sanctuary Point*. and new housing options. Another major project is Stage 2 of the CITY OF SHOALHAVEN LGA GROWTH Vincentia Village Town Centre ($30.0M). The project will add a Big W, plus nearly 700 $700,000 3,500 sqm of other retail space. This will 600 $600,000 increase economic activity in the area and benefit residents, as well as create 500 $500,000 significant employment opportunities. 400 $400,000 Altogether, scheduled residential projects 300 $300,000 will add 461 apartments and 12 units to st Median Price Sanctuary Point* in the 1 half of 2019. 200 $200,000 Number Sales of Number *Sanctuary Point market data and key indicators encapsulates aggregate 100 $100,000 property market conditions in the following suburbs: Sanctuary Point, St George’s Basin, Old Erowal Bay, Basin View, Erowal Bay, and Tomerong. 0 $0 **Estimated values are based on construction value provided by the relevant data authority and does not reflect commercial and/or re-sale value. Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Source: APM Pricefinder, realestate.com.au. © Copyright PRDnationwide 2019. House Vacant Land Median House Price Median Vacant Land Price AVERAGE VENDOR DISCOUNT AVERAGEAVERAGE VENDOR VENDOR DISCOUNT DISCOUNT TheAverage averagevendor vendordiscount discountreflects reflects the House Vacant Land theaverage averagepercentage percentagedifference differencebetween 0.0% betweenfirst listed theprice first listand pricefinal andsold theprice . A -1.0% finallower soldpercentage price. A lowerdifference percentagesuggests differencebuyers are (closerwilling toto 0) purchasesuggests close to 3.2% the first asking price of a property. -2.0% - buyers are willing to purchase close 3.8% 4.1% - - to the first asking price of a property. 5.2% 5.2% 5.3% - - -3.0% - 6.0% 6.2% - - 6.8% - MARKET COMPARISON GRAPH -4.0% 7.7% 8.0% - - 8.5% - TheKEY market FACTS comparison UNIT graph provides -5.0% a comparative trend for the median -6.0% price of houses and units over the past 10 years. Suburbs profiled are chosen -7.0% based on their proximity to the main suburb analysed in this Factsheet, Change from Listing to to Listing Price Sale from Change -8.0% which is Sanctuary Point. The main suburb is shown as a dotted black line -9.0% in the graphs below. Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 HOUSE MARKET COMPARISON $800,000 $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 Median House House Median Price $100,000 $0 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Sanctuary Point St George's Basin Old Erowal Bay Tomerong UNIT MARKET COMPARISON $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 Median Vacant Land Price Land Vacant Median $0 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Sanctuary Point St George's Basin Old Erowal Bay Tomerong Source: APM Pricefinder. © Copyright PRDnationwide 2019. AVERAGE NUMBER OF DAYS ON THE MARKET** 120 KEY HOUSE FACTS Q4 2018 100 Median Sale Price: $470,000 Annual Growth: 9.3%* Average Days on Market: 97 80 % Change Between First Listed Price and Sold Price: -8.0% 60 KEY LAND FACTS Q4 2018 99 97 86 85 82 82 81 81 40 80 KEY FACTSMedian UNIT* Sale Price: $315,000 Average Days Market on Days Average 67 63 : 53.7%* Median SaleAnnual Price Growth : $785,000 55 Average Days on Market: 67 20 Annual Area Growth: 11% Average %Days Change on Market: Between 36 First Listed Price : -6.2% % Changeand between Sold Price First Listed Price and 0 Sold Price: -0.1% Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 House Vacant Land Overall Market Trend SALES AND MEDIAN PRICES** 140 $600,000 120 $500,000 100 $400,000 80 $300,000 128 60 Price Median 113 Number of of Sales Number 101 102 $200,000 40 80 67 $100,000 20 30 26 27 16 12 10 0 $0 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 House Sales Vacant Land Sales Median House Price Median Vacant Land Price *Annual growth represents price growth for property transactions between Q4 2017 to Q4 2018 (inclusive). **Sanctuary Point market data and key indicators encapsulates aggregate property market conditions in the following suburbs: Sanctuary Point, St George’s Basin, Old Erowal Bay, Basin View, Erowal Bay, and Tomerong. Source: APM Pricefinder, realestate.com.au, SQM Research. © Copyright PRDnationwide 2019. SALES PRICE POINT COMPARATIVE ANALYSIS HOUSE PRICE POINT 2017 HOUSE PRICE POINT 2018 5.2% 13.8% 6.8% 7.3% 8.7% 18.8% Less than $299,999 9.5% $300,000 to $349,999 $350,000 to $399,999 14.0% 7.0% $400,000 to $449,999 21.8% 7.2% $450,000 to $499,999 $500,000 to $549,999 11.6% $550,000 to $599,999 13.3% $600,000 and above 22.8% 18.9% 13.4% LAND PRICE POINT 2017 LAND PRICE POINT 2018 4.6% 8.0% 10.0% 6.2% 8.0% 6.0% Less than $149,999 27.7% $150,000 to $174,999 10.8% $175,000 to $199,999 16.0% 15.0% $200,000 to $224,999 4.6% $225,000 to $249,999 4.6% $250,000 to $274,999 $275,000 to $299,999 18.5% 18.0% 19.0% $300,000 and above 23.1% KEY IMPLICATIONS - HOUSES KEY IMPLICATIONS – VACANT LAND 2018 in Sanctuary Point* saw a dominant price point of The dominant price point for land in Sanctuary Point in $400K-450K, with 22.8% of total sales. In 2017 the 2018* was the $300K+ bracket, with 27.7% of total sales. dominant price point was $350K - $400K (21.8%), which This represents a significant increase of +19.7% from declined from 21.8% to 14.0% in 2018. This suggest a 2017. Additionally, the two brackets immediately below shift towards higher pricing, in line with an increase in the also saw significant growth, meaning overall vacant land median house price over the past 12 months to Q4 2018. price above $250K grew from 32.0% of sales in 2017 to 68.7%AVERAGE of sales in 2018. ThusDAY the numberON MARKET of sales in this Another significant shift occurred in the $600K+ segment, price bracket has more than doubled in just 12 months. which increased by +5.0% to reach 18.8% of total sales in 2018. Further, the total number of houses sold below There is a clear value increase in land in the area, $400K shrank from 37.3% to 26.5%, a fall of -10.8%.