Market Outlook Bahrs Scrub

MARKET OUTLOOK BAHRS SCRUB An emerging community and high amenity neighbourhood surrounded by green space and is close to services, employment, education and transport.

02 Connectivity & Accessibility 03 Employment & Education 03 Demographics & Infrastructure 04 Residential Market Review 04 Rental Analysis Prepared exclusively for

Frasers Property Australia Pty Ltd April 2019

Top: Education precincts ; Bottom left: Major retail centres; Bottom right: Strong transport links.

BRISBANE AIRPORT 37 Minutes

BEENLEIGH

LOGAN HYPERDOME 15 Minutes

BEENLEIGH STATE HIGH SCHOOL BEENLEIGH TRAIN STATION

BEENLEIGH MARKETPLACE

MOUNT WARREN PARK SHOPPING CENTRE

WINDA PRIMA

BEENLEIGH PRIMARY SCHOOL

GRIFFITH UNIVERSITY LOGAN CAMPUS 16 Minutes BRISBANE CBD 34 Minutes

WU

G RA

AR

OA

D

M EN O R

LOGAN HOSPITAL 18 Minutes

LEGEND

CONNECTIVITY & ACCESSIBILITY Located within the rapidly growing southern corridor between Brisbane and the Gold Coast, Bahrs Scrub provides residents with a community lifestyle within a high amenity, well-integrated residential neighbourhood.

Only three kilometres from the regional centre of Beenleigh, residents can access the Beenleigh Gold Coast train line to commute to either Brisbane (Beenleigh to Central Station 48 minutes) or the Gold Coast (Beenleigh to Helensvale Station 17 minutes). The Gold Coast Light Rail (G:Link) allows residents of Logan to commute to the beach by train and tram with the heavy rail station at Helensvale now connecting to the Light Rail Tram

2

Market Outlook Bahrs Scrub

Station. The G:Link runs through the commercial, entertainment and retail hubs of Southport, Surfers Paradise and Broadbeach.

The Pacific Motorway (M1) is less than five kilometers from Bahrs Scrub, providing a direct link to employment nodes of Brisbane CBD, Yatala Enterprise Area and the Gold Coast.

Within close proximity is the Logan Motorway providing access to western employment nodes. Infrastructure investment, population growth and employment opportunities are solid fundamentals attracting residents to the Logan LGA. Master planned communities with high levels of infrastructure and amenity offer opportunity for growth potential in an emerging area.

AR

Education

EMPLOYMENT

EMPLOYMENT GROWTH LOGAN LGA

Employment forecasts within the Logan LGA indicate the number of jobs in the region will increase by more than 66,000, to a total of 168,125, by 2041.

YATALA ENTERPRISE AREA GOLD COAST BEACHES 46 Minutes

2041 Forecast

101,980

168,125

New Jobs

66,145

YATALA ENTERPRISE AREA 2016

Capacity to expand to

19,435*

40,000

Prepared by Urbis; Source: Urbis and City of Gold Coast *Based on the SA2 of Ormeau –Yatala.

AROO ARY SCHOOL

EDUCATION

WINDAROO LAKES GOLF COURSE

WITHIN 10KM RADIUS GOLD COAST AIRPORT 52 Minutes

10

3

Primary & Secondary Schools

Griffith University Logan Campus

7

48

11km

Primary Schools

Secondary Schools

Child Care Centres

from Bahrs Scrub

Prepared by Urbis; Source: Qld Govt. Dept. of Education & Training

DEMOGRAPHICS The Logan LGA is forecast to experience strong population growth over the next 25 years to 2041, with an annual average growth rate of 2.3 per cent, equivalent to around 9,600 new residents per annum.

R OA D

n

Additionally, the largest industrial zoned land area on the Gold Coast, the nearby Yatala Enterprise Area, currently employs 19,435 people and has the capacity to grow to 40,000.

2016

HE

Leisure

Transport

IN

RO

This predicted growth is higher than both the Brisbane LGA and Gold Coast LGA, which are projected to grow at 1.1 per cent and 2.0 per cent respectively.

Forecasts for the Bahrs Scrub/Wolffdene SA2 area indicate a considerable increase is expected, with an average growth rate of 3.7 per cent per annum or 275 new residents every year.

AD

Health

Retail

Airport

Who Lives in the Logan LGA?

Families with Young Children

Logan LGA

Brisbane LGA

43.5%

40.2%

Average Age

34.4

36.1

Owner Occupied

67.4%

65.9%

Detached House

86.5%

76.9%

Prepared by Urbis; Source: ABS Census 2016, QGSO 2017

$770 MILLION IS BEING SPENT INCREASING THE CONNECTIVITY BETWEEN LOGAN AND BRISBANE

INFRASTRUCTURE COOMERA TOWN CENTRE $500 Million (Completed)

LOGAN HYPERDOME EXPANSION $30 million (Planned)

GOLD COAST LIGHT RAIL (G:LINK) STAGES 1 & 2 $2.5 billion (Completed)

BEENLEIGH TOWN SQUARE $9.7 million (Completed)

PACIFIC MOTORWAY UPGRADE STAGES 1 TO 3 $490 million (Under Construction) WESTFIELD GARDEN CITY EXPANSION $400 million (Completed) LOGAN HOSPITAL EXPANSION $112 million (Planned)

BEENLEIGH MALL REDEVELOPMENT $5 million (Completed)

CANTERBURY COLLEGE SPORTS FACILITIES $6 million (Planned) PACIFIC MOTORWAY GATEWAY MERGE $80 million (Under Construction)

LOGAN CENTRAL MASTERPLAN $200 million (Planned)

PACIFIC MOTORWAY TRANSIT PROJECT, LOGAN CENTRE $200 million (Planned)

BEENLEIGH MALL VILLAGE EXPANSION $7 million (Under Construction)

HOLMVIEW SHOPPING CENTRE EXPANSION $130 million (Planned) Prepared exclusively for Frasers Property Australia

3

LOGAN LGA HOUSE & LAND SALES CYCLE Dec 1998 – Dec 2018 Logan LGA number of house sales

Logan LGA median house price

Logan LGA median land price

The Logan LGA has demonstrated strong long-term house price growth to the end of 2018, increasing by 6.7 per cent per annum over 20 years, and 4.4 per cent per annum over 15 years.

The first half of 2018 showed the median house price across the Logan LGA reach a peak of $418,750, based on 2,109 settled transactions. The last half of 2018 recorded a slight decline in the number of transactions (1,943) and a median price of $417,000.

Compared to the Brisbane LGA median house price of $690,000 during the last half of 2018, and the Gold Coast LGA at $625,000, areas within the Logan LGA that offer new house and land packages are an affordable option for both owneroccupiers and investors. With convenient access to major employment nodes, education, health and leisure amenity, and the central hub of Beenleigh, the Logan LGA provides residents with a familyfocused lifestyle choice at an affordable price.

LAND Vacant land sales for the Logan LGA have also recorded strong long-term price growth, increasing by 7.4 per cent per annum over 20 years and 5.5 per cent per annum over 15 years. Data for the last half of 2018 recorded a peak median land price of $222,000.

While the Logan LGA has recorded a peak median price, it is still an affordable option when compared to neighbouring areas. The Brisbane LGA recorded a median land price 89 per cent in excess of the Logan LGA, while the Gold Coast LGA recorded a median price 30 per cent more expensive than the Logan LGA. Bahrs Scrub recorded a median land price of $219,000 during the last half of 2018, further highlighting the affordability of this area.

RENTAL ANALYSIS Rising rents within the Brisbane LGA have promoted increased attention and market activity for affordable new housing options in greenfield areas such as those located within the Logan LGA. Providing convenient access to lifestyle amenity and connectivity to Brisbane CBD and the Gold Coast, Bahrs Scrub is in a good position to benefit from the continuing demand for modern family-friendly housing options. The residential rental vacancy factor across the Logan LGA is recorded at 2.4 per cent (December 2018 quarter) indicating a tight rental market.

$417,000

$450,000 $400,000

5,000

$350,000

4,000

$300,000 $222,000 $250,000

3,000

$200,000 $150,000

2,000

$100,000

1,000

$50,000

0

1998 DEC 1999 DEC 2000 DEC 2001 DEC 2002 DEC 2003 DEC 2004 DEC 2005 DEC 2006 DEC 2007 DEC 2008 DEC 2009 DEC 2010 DEC 2011 DEC 2012 DEC 2013 DEC 2014 DEC 2015 DEC 2016 DEC 2017 DEC 2018 DEC

HOUSING

Number of settled transactions

6,000

Median land sale price ($)

RESIDENTIAL MARKET REVIEW

$0

Period (half year) Prepared by Urbis; Source: APM PriceFinder

5 YEARS

15 YEARS

20 YEARS

LOGAN LGA MEDIAN HOUSE PRICE GROWTH PA

3.0%

4.4%

6.7%

LOGAN LGA MEDIAN LAND PRICE GROWTH PA

4.5%

5.5%

7.4%

Prepared by Urbis; Source: APM PriceFinder

MEDIAN HOUSE & LAND PRICE COMPARISON

MEDIAN HOUSE PRICE DEC 2018

MEDIAN LAND PRICE DEC 2018

Logan LGA

Logan LGA $222,000

$417,000

Brisbane LGA $690,000

Gold Coast LGA $625,000

DIFFERENCE $273,000 DIFFERENCE $208,000

Brisbane LGA $420,000

Gold Coast LGA $288,500

DIFFERENCE $198,000 DIFFERENCE $66,500

Prepared by Urbis; Source: APM PriceFinder

MEDIAN WEEKLY RENTS Dec Qtr 2018* REGION

3-BED HOUSE

4-BED HOUSE

Brisbane LGA

$435

$545

Gold Coast North+

$430

$450

Logan LGA

$345

$400

Bahrs Scrub*

$340

$390

situation or needs. Urbis accepts no responsibility for the accuracy or completeness of any such material. The information is subject to change without notice and Urbis is under no obligation to update the information or correct any assumptions which may change over time. This study has been prepared for the sole use of Frasers Property Australia and is not to be relied upon by any third party without specific approval from Urbis. This publication is subject to copyright. Except as permitted under the Copyright Act 1968, no part of it may, in any form or by any means (electronic, mechanical, photocopying, recording or otherwise) be reproduced, stored in a retrievals system or transmitted without prior written permission. Enquires should be addressed to the publishers.

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BRISBANE Prepared by Urbis; Source: Residential Tenancies Authority *Bahrs Scrub postcode includes suburbs of Beenleigh, Eagleby, Mount Warren Park GOLD COAST + Gold Coast North includes Jacobs Well, Ormeau, Coomera, Pimpama, Willow Vale, Helensvale, Hope Island, Sanctuary Cove, Biggera Waters, Coombabah, Hollywell, Paradise Point, Runaway Bay MELBOURNE PERTH This publication is prepared on the instruction of Frasers Property Australia and is not suitable for use other than by the party to whom it is addressed. As the publication involves projections and assumptions it can be affected by a number of unforeseen variables. The forecasts and assumptions are a prediction and whilst Urbis has made every effort to ensure that the forecasts and SYDNEY assumptions are based on reasonable information, they may be affected by assumptions that do not necessarily eventuate or by known, or unknown, risks and uncertainties. It should be noted that past performance is not necessarily a reliable indication of future performance. The information in the publication does not represent financial advice and should not be regarded as such. It CISTRI — SINGAPORE has been prepared without taking into account your financial situation or investment objectives. You should consider the appropriateness of the information in regards to your current financial