Bahrs Scrub Urbis Market Outlook

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

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

Frasers Property Australia Pty Ltd July 2020

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

BEENLEIGH

BRISBANE AIRPORT 37 Minutes

BEENLEIGH STATE HIGH SCHOOL

LOGAN HYPERDOME 15 Minutes

BEENLEIGH PRIMARY SCHOOL

WU

AR

OA

MOUNT WARREN PARK SHOPPING CENTRE

WINDAROO PRIMARY SCHOOL

BEENLEIGH TRAIN STATION

HOLMVIEW TRAIN STATION

G RA

BEENLEIGH MARKETPLACE

WINDAROO LAK GOLF COURSE

D

HOLMVIEW CENTRAL SHOPPING CENTRE 7 Minutes

M EN

OR A

R OA

D

GRIFFITH UNIVERSITY LOGAN CAMPUS 16 Minutes BRISBANE CBD 34 Minutes

HEIN

CANTERBURY COLLEGE 7 Minutes

R OA D

LOGAN HOSPITAL 18 Minutes

LEGEND

CONNECTIVITY & ACCESSIBILITY Located within the rapidly growing corridor between Brisbane and the Gold Coast, Bahrs Scrub provides residents with a community lifestyle within a high amenity, well-integrated residential neighbourhood which is benefiting from infrastructure spending and strong population growth.

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 to commute to the beach by train and tram with the heavy rail station at Helensvale now connecting to the Light Rail Tram Station. The G:Link runs through the commercial, entertainment and retail hubs of Southport, Surfers Paradise and Broadbeach, with plans underway to extend to Burleigh Heads.

The Pacific Motorway (M1) is less than five kilometres 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.

Education

EMPLOYMENT

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

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.

GOLD COAST BEACHES 46 Minutes

GOLD COAST AIRPORT 52 Minutes

11

Primary Schools

7

Secondary Schools

1

2016

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.

EDUCATION

KES

Leisure

EMPLOYMENT GROWTH

5

Primary & Secondary Schools

Planned

48

Childcare Centres

1

Griffith Universty Logan Campus

11kms from Bahrs Scrub

Planned

Prepared by Urbis; Source: ACECQE, Cordells

POPULATION & DEMOGRAPHICS

Who Lives in the Logan LGA?

Of the eight Local Government Areas (LGA) making up South East Queensland (SEQ), the Logan LGA is forecast to achieve the second highest population growth over 25 years to 2041. Annual growth of 2.3 per cent is forecast, taking the population to over 550,000 residents by 2041.

The forecast growth for Logan LGA is higher than the neighbouring LGA’s of Brisbane and Gold Coast, which are projected to grow at 1.1 per cent and 2.0 per cent respectively. Forecasts for the Bahrs Scrub/Wolfdene SA2 area indicate a considerable increase is expected, with an average growth rate of 3.7 per cent per annum and the resident population more than doubling over 25 years.

Transport

Health

Retail

Airport

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 2019

$1.44 BILLION IS BEING SPENT INCREASING THE CONNECTIVITY BETWEEN LOGAN AND BRISBANE

INFRASTRUCTURE LOGANLEA TRAIN STATION RELOCATION $95 million (Planned) BEENLEIGH/BRISBANE RAIL LINE UPGRADE $60 million (Planned)

LOGAN WATER INFASTRUCTURE PROGRAM PARTNERSHIP $520 million (Under Construction) COOMERA TOWN CENTRE $500 million (Completed)

BEENLEIGH/BRISBANE (KINGSTON) ROAD UPGRADE $11.2 million (Planned)

GOLD COAST LIGHT RAIL (G:LINK) STAGES 1, 2 & 3A $3.2 billion (Completed and Planned)

WINDAROO VALLEY STATE HIGH UPGRADES $4.35 million (Completed)

PACIFIC MOTORWAY UPGRADE STAGES 1 TO 3 $1.4 billion (Under Construction and Planned)

BAHRS SCRUB CHILD CARE CENTRE $3 million (Planned)

LOGAN HOSPITAL EXPANSION $465 million (Under Construction)

LOGAN HYPERDOME EXPANSION $20 million (Under Construction) BEENLEIGH MALL REDEVELOPMENT $5 million (Completed) BEENLEIGH MALL VILLAGE EXPANSION $7 million (Completed) CANTERBURY COLLEGE SPORTS FACILITIES $6 million (Under Construction) HOLMVIEW SHOPPING CENTRE EXPANSION $130 million (Planned)

Prepared exclusively for Frasers Property Australia

3

Bahrs Scrub recorded a median house price of $447,000 during the last half of 2019, higher than the Logan LGA figure of $415,000. The Bahrs Scrub housing market is relatively new with the majority of sales being in the land sector. The median land price in Bahrs Scrub was $224,000, on par with the wider Logan area, and achieving 6.9 per cent growth per annum over 20 years. The last half of 2019 saw total sales of 112, the second highest level recorded in 20 years.

4,000

$400,000 $350,000

3,500

$300,000

3,000

$225,000 $250,000

2,500

$200,000

2,000

$150,000

1,500

$100,000

1,000

$50,000 2019 DEC

2017 DEC

2018 DEC

2016 DEC

2014 DEC

2015 DEC

2013 DEC

2011 DEC

2012 DEC

2010 DEC

2009 DEC

2007 DEC

2008 DEC

2005 DEC

2006 DEC

2003 DEC

2004 DEC

2001 DEC

500 0

$450,000 Median sale price ($)

Logan LGA median land price $415,000

2002 DEC

The Logan median house price is $285,000 more affordable than Brisbane, and $235,000 more affordable than the Gold Coast. Similarly, the Logan median land price is more affordable, being $177,500 more affordable than Brisbane and $64,000 more affordable than the Gold Coast.

Logan LGA median house price

4,500

1999 DEC

The strong long-term price growth is reflecting the opportunities in the Logan LGA while retaining affordable price points when compared to neighbouring LGA’s. Areas within the Logan LGA that offer new house and land packages are an affordable option for both owner occupiers 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 family focused lifestyle choice at an affordable price.

Logan LGA number of house sales

5,000

2000 DEC

The Logan LGA has demonstrated strong long-term house and land median price growth, increasing by 6.6 and 6.8 per cent per annum respectively over 20 years to the end of 2019.

LOGAN LGA HOUSE & LAND SALES CYCLE Dec 1999 – Dec 2019

Number of settled transactions

RESIDENTIAL

$0

Period (half year)

Prepared by Urbis; Source: APM PriceFinder

MEDIAN HOUSE & LAND PRICE GROWTH 5 YEARS

15 YEARS

20 YEARS

Logan LGA Median House Price Growth pa

2.3%

3.5%

6.6%

Logan LGA Median Land Price Growth pa

3.6%

2.8%

6.8%

Prepared by Urbis; Source: APM PriceFinder at Dec-2019

MEDIAN HOUSE & LAND PRICE COMPARISON

STRONG POPULATION GROWTH, INFRASTRUCTURE SPENDING, ACCESS TO EMPLOYMENT HUBS AND LOW RENTAL VACANCY BODES WELL FOR RESIDENTIAL MARKETS WITHIN THE LOGAN LGA. 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 employment hubs, 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 1.6 per cent (December 2019 quarter) indicating a tight rental market.

Analysis of advertised houses for rent across Bahrs Scrub highlight the premium attached to new and near-new homes.

Three-bedroom homes are asking rents up to $400 per week – compared to a median price of $340 for new and established product. New and near-new four-bedroom homes are asking up to $435 per week, compared to the median weekly rent of $390.

MEDIAN HOUSE PRICE DEC 2019 Logan LGA

MEDIAN LAND PRICE DEC 2019 Logan LGA

Brisbane LGA

Brisbane LGA

$225,000

$415,000

$700,000

Gold Coast LGA $650,000

DIFFERENCE

$402,500

$285,000 DIFFERENCE $235,000

Gold Coast LGA $289,000

DIFFERENCE $177,500 DIFFERENCE $64,000

Prepared by Urbis; Source: APM PriceFinder at Dec-2019

MEDIAN WEEKLY RENTS Dec Qtr 2019 REGION

3-BED HOUSE

4-BED HOUSE

Brisbane LGA

$445

$550

Gold Coast North+

$430

$460

Logan LGA

$345

$400

Bahrs Scrub*

$340

$390

Prepared by Urbis; Source: Residential Tenancies Authority Q4 2019 *Based on postcode 4207 includes suburbs of Bahrs Scrub, Beenleigh, Eagleby, Mount Warren Park + Gold Coast North includes Jacobs Well, Ormeau, Coomera, Pimpa-

BRISBANE ma, Willow Vale, Helensvale, Hope Island, Sanctuary Cove, Biggera Waters, Coombabah, Hollywell, Paradise Point, Runaway Bay GOLD COAST MELBOURNE This publication was prepared on the instruction and for the sole use of Frasers Property Australia and may not be relied on by any third party for any purpose without specific approval from Urbis Pty Ltd. All projections, opinions and forecasts and underlying assumptions (Content) are made in good faith, in the reasonable belief they are correct and not misleading, as at the publication date in reliance on data and PERTH information sourced from reputable third-party suppliers and after taking account of reasonably foreseeable circumstances and events. Urbis has made every effort to ensure that the Content, including any assumptions, is based on reasonable and reliable data and information but unforeseen and unknown risks, events or circumstances occurring after the publication date and known risks, events and circumstances the impact of which is not capable of prior assessment may affect this publication and the Content. Past performance is not necessarily a reliable indication of future performance. The COVID-19 pandemic is assumed SYDNEY not to have materially impacted the Content (unless otherwise stated). You must carefully consider the impact of the COVID-19 pandemic (including on the Content) when making any decisions regarding the assets or business activities to which this publication relates. This publication and the Content does not represent financial advice and was prepared without taking account of your financial or taxation situation or investment CISTRI — SINGAPORE objectives. Before acting on any information or Content in this publication you should consider its appropriateness having regard to your objectives, current financial and taxation situation and any other needs. Urbis accepts no responsibility for the accuracy or completeness of any data or information on which it has relied and any resulting error in the Content attributable to such data or information. The information or data is subject to change without notice and Urbis is under no obligation to update the information or data or correct any Content which may change over time. This publication is subject to copyright. Except as permitted under the Copyright Act 1968, it (and any part of it) may not, in any form or by any means (electronic, mechanical), be reproduced, recorded, stored in a retrievals system, transmitted or copied without prior written permission of Urbis.

P0022997

cistri.com