OUTLOOK
OUTLOOK INSIGHTS – AUGUST 2015 STRATEGIC LOCATION
P5
NORTH RYDE
Good public transport accessibility to several major centres.
INFRASTRUCTURE INVESTMENT
P6
Over $12 billion of infrastructure investment in the region.
A CONTEXT ON BUSINESS, CULTURE, LIFESTYLE AND RESIDENTIAL
EMPLOYMENT GROWTH
P7
Ryde LGA forecast to accommodate an additional 40,100 new jobs by 2041.
POPULATION GROWTH
P8
North Ryde is an emerging apartment market that has been classified as a Priority Precinct by the NSW Government.
Ryde LGA is projected to grow by 2,280 residents per year over the next 20 years.
DEMOGRAPHICS
P9
North Ryde has a well-educated and affluent population.
SALES PRICE GROWTH
P10
Median apartment price growth of 8% per annum in the last five years
RENTAL GROWTH
P11
Median two bedroom unit rental growth of 6.1% per annum in the last decade. THE NORTH WEST RAIL LINK WILL FURTHER IMPROVE THE ALREADY STRONG ACCESSIBILITY
NORTH RYDE TRAIN STATION
THE MACQUARIE CENTRE PROVIDES EXCELLENT RETAIL AND RECREATION AMENITY
MACQUARIE CENTRE
THE MACQUARIE UNIVERSITY HOSPITAL PROVIDES EXCELLENT HEALTH SERVICES TO RESIDENTS
MACQUARIE UNIVERSITY HOSPITAL
1
POP
2
INF
3
EMP
North Ryde accommodates all three of the Urbis economics and research fundamentals that make a sustainable suburb – Population, Infrastructure and Employment.
POPULATION, INFRASTRUCTURE & EMPLOYMENT
• Epping Town Centre: 3,750 dwellings within a 10 minute walk of Epping Station.
AT
IO
N
ASTRUCTUR E
I
P E
NT
R INF
UL
Long-term value growth will be the most important motivator for buyers moving forward
• Herring Road, Macquarie Park: Up to 5,400 dwellings by 2031.
PO P
Urbis has investigated the trends that will deliver sustained and confident growth now and into the future. This involves recognising the key fundamentals that investors should seek to secure returns as well as identify regions that will be the most desirable to live, work and play. To help identify these locations, Urbis has concluded that the most desirable locations will be those locations accommodating “P.I.E.”: Population, Infrastructure and Employment.
• North Ryde Station: 3,000 dwellings and 1,500 jobs within a 10 minute walk of North Ryde Station.
ME
Finishes and views will no longer compensate for developments in marginal locations. Long-term value growth will be the most important motivator for buyers moving forward, and in today’s new market demand those regions accommodating a unique formula will perform better long term.
The NSW Government has identified ten Priority Precincts within Sydney with the aim to deliver more homes in places with access to infrastructure, transport, services and jobs. The Priority Precincts are generally located around a train station and facilitate the development of increased residential density to meet the needs of the growing Sydney population. Priority Precincts in proximity to North Ryde include:
OY
The underlying drivers of residential property value have been identified as ‘locational’, with the amenity derived from proximity and access to employment, public transport, services, recreation and social infrastructure. Product alone is unlikely to drive demand like it has in the mid 2000’s, with place superiority now a key driver behind the success of high density residential developments.
NSW GOVERNMENT PRIORITY PRECINCTS
PL
Residential property assets are a long term investment, with value underpinned by key fundamentals.
EM
POPULATION
INFRASTRUCTURE
EMPLOYMENT
Population growth is an underpinning factor in demand for the residential property market. Identifying regions with strong population growth improves the potential demand for new residential development though access to a growing market and future household formation.
Locations supported by adequate infrastructure and services improve the value derived from locational driven amenity. Key infrastructure including universities, hospitals and public transport increase the attractiveness of a location to renters and supports the local areas ability to sustain population growth.
Proximityand access to employment nodes is essential for strong residential growth. It supports future population as well as opens up a local worker market for residential developments, with workers seeking housing within easy transit to their place of work. This can be provided either through developing close to existing and planned employment centres or within easy access to major public transport nodes connecting local residents to their place of work.
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URBIS MARKET OUTLOOK - CENTRALE NORTH RYDE © URBIS.COM.AU
METROPOLITAN SYDNEY RESIDENTIAL DRIVERS SYDNEY POPULATION GROWTH
SHIFTING DEMOGRAPHICS
STILL GROWING – OVER 1,500 NEW RESIDENTS PER WEEK
FOCUS ON THE BIGGEST MARKETS – GEN Y
Sydney is Australia’s leading property market in size, value and quality of projects. The Sydney market is expected to continue to grow as population growth increases (projected at 1,530 per week for the next 20 years, as forecast by NSW Planning and Environment) and opportunities for infill development increasingly become rare. This aligns with historic actual growth observed between 2008 and 2013 which was 1,276 new residents per week, for a total increase of 66,350 per annum over this period.
Sydney is expected to see a shift of Gen Y’s into home ownership, however there are some affordability constraints for this segment of the market. This age group has certain characteristics:
According to the NSW Government, there were an average of 15,300 dwelling completions in Metropolitan Sydney between 2008 and 2013. However, based on actual population growth, there was demand for 24,700 dwellings per year. This equated to an undersupply of housing in Sydney over recent years, though it is noted that the imbalance has started to improve in 2014 with an increase in supply.
• They will marry later and have families even later. • They are very accepting of density, however demand amenity. • The majority believe they do not have to move to the outer suburbs once they have kids. As such, large proportions are expected to remain in locations around key centres, notably the CBD and Inner/Middle Ring where they have a high level of amenity and accessibility to employment opportunities.
AGE DISTRIBUTION IN METROPOLITAN SYDNEY RESIDENTS IN 2011 GROWTH IN RESIDENTS TO 2016
SYDNEY POPULATION GROWTH
TG aged 85+ TG 80-84
6,500,000
TG 75-79 TG 70-74
6,000,000
Boomers 65-69 Boomers 60-64 Boomers 55-59
5,000,000 GENERATIONS
POPULATION
5,500,000
4,500,000 4,000,000 ACTUAL POPULATION
3,500,000
Boomers 50-54
BABY BOOMERS More Downsizing Low Maintenance Living Lifestyle Orientated Amenity Rich Locations
Gen X 45-49 Gen X 40-44 Gen X 35-39 Gen Y 30-34
1,530 NEW RESIDENTS PER WEEK
LARGEST MARKET Employment Proximity Civic Minded Maintain Social Networks Diversity is Key
Gen Y 25-29 Gen Y 20-24
Source: U rbis; Australian Bureau of Statistics 2013; NSW Planning and Environment 2014
2031
2030
2029
2028
2027
2026
2024
2025
2023
2022
2021
2020
2019
2018
2017
2016
2014
2015
2013
2011
2012
2010
2009
3,000,000
Gen Y 15-19 Gen Z 10-14 Gen Z 5-9 Gen A 0-4
50,000 100,000 150,000 200,000 250,000 300,000 350,000 400,000 450,000
NUMBER OF RESIDENTS
Source: Urbis; NSW Planning and Environment 2014
Sydney will continue to see population growth close to 80,000 per annum over the next 20 years.
Sydney has experienced an historical undersupply of dwellings with demand for 24,700 dwellings per year between 2008 and 2013 whilst only 15,300 dwelling were completed.
Generation Y will be the largest population cohort to enter the housing market, with this group anticipated to experience growth in demand from 2016.
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NORTH SYDNEY (16MIN)
ST LEONARDS (10MIN) CHATSWOOD (5MINS)
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5
3
13 14 22
21
10
12
9
28 17 23 26
B
B B
32
B B B 37
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B B T
MACQUARIE PARK (4MIN)
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NORWEST BUSINESS PARK (20MIN)
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3.0KM
1.0KM
1.0KM
North Ryde is located approximately 13km north-west of the Sydney CBD and boasts a high level of amenity and social infrastructure.
4
R TO
EPPING ROAD
Macquarie Park is located approximately 3km from North Ryde and includes Macquarie University, Macquarie Shopping Centre and Macquarie Park Business Precinct
B PARRAMATTA (25MIN)
North Ryde is located approximately 13km north-west of the Sydney CBD. The area provides a high level of amenity for residents including several shopping precincts, schools, hospitals and recreational parks. The region also provides significant employment nodes including Macquarie Park Business Precinct, Chatswood and Lane Cove West Business Park.
SYDNEY CBD (20MIN)
LOCATION & ACCESSIBILITY
15
35
27 6 31
33
7
1.0KM
B
B
11 4
2.0KM
3.5KM
Health
24
Education Retail & Entertainment
30
25 29 19
1.4KM
20
Image is a artists impression and indicative only. Distances are approximate
Parks and Recreation
SYDNEY OLYMPIC PARK (25MIN)
New apartment developments are increasingly being developed in North Ryde and Macquarie Park off the back off the creation of Priority Precincts, improving transport infrastructure and access to employment.
Other
The M2 motorway and the North Ryde Train Station provides residents of North Ryde with direct access to Chatswood, St Leonards, North Sydney, the Sydney CBD as well as the Northern Sydney region.
1
Macquarie Shopping Centre
2
Westfield Chatswood
3
Chatswood Chase Shopping Centre
4
Top Ryde Shopping Centre
5
Home HQ Homemaker Centre
6
North Ryde RSL
7
Ryde East Public School
8
North Ryde Public School
9
Mowbray Public School
10
Lane Cove West Public School
11
Ryde Secondary College
12
Chatswood High School
13
North Sydney Boys High School
14
North Sydney Girls High School
15
Saint Ignatius College Riverview
16
Macquarie University
17
UTS Kuring-gai
18
Macquarie University Hospital
19
Macquarie Hospital
20
Ryde Hospital
21
Royal North Shore Hospital
22
Mater North Sydney Hospital
23
Lane Cove National Park
24
Magdala Park
25
Bleinheim Park
26
Rotary Athletics Field
27
Boobajool Reserve
28
Chatswood Golf Club
29
North Ryde Golf Club
30
Lane Cove River
31
Nundah Reserve
32
Yinnell Reserve
33
North Ryde Park
34
Riverside Corporate Park
35
Lane Cove West Business Park
36
Macquarie Park Business Precinct
T
Train
37
Macquarie Park Cemetery
B
Bus
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INFRASTRUCTURE & INVESTMENT NORTH WEST RAIL LINK $8.3 BILLION The North West Rail Link is currently Australia’s largest public transport infrastructure project and a priority rail project for the NSW Government. When completed, the rail link will be the first fully-automated rapid transit rail system in Australia. The project will deliver eight new railway stations and 4,000 commuter car parking spaces to Sydney’s growing North West and is estimated to be completed in 2018. The rail link will connect with the Epping to Chatswood rail link and pass through North Ryde and Macquarie Park.
M2 MOTORWAY UPGRADE $600 MILLION The M2 Motorway forms part of the Sydney Orbital Network and connects North Ryde to the rest of Sydney. A major upgrade of the Motorway was completed in 2013 which included widening the road and construction of additional exit and entrance ramps.
MACQUARIE SHOPPING CENTRE EXTENSION $440 MILLION The expansion of the shopping centre including a new 5-storey building containing a full line David Jones and Myer department stores, major supermarkets (Woolworths, Coles and Aldi), Big W and Target discount department stores, international retailers (Zara, H&M, Uniqlo, Forever 21), speciality stores and approximately 1,000 car parking spaces. The expansion was completed in October 2014.
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URBIS MARKET OUTLOOK - CENTRALE NORTH RYDE © URBIS.COM.AU
Over $12.7 Billion in infrastructure investment to benefit the region
NORTHCONNEX $2.65 BILLION The development of a 9km tunnel linking theM1 Pacific Motorway at Wahroonga to The Hills M2 Motorway at West Pennant Hills that will provide improved linkages to the National Highway route. The project is estimated to be completed in 2019. The project is important infrastructure for freight traffic and the wider connectivity within NSW to reduce congestion and improve traffic flow along Pennant Hills Road.
NORTH RYDE STATION PRECINCT $500 MILLION A mixed-use precinct with a focus on residential development as well as retail, commercial and community uses to stimulate activity around North Ryde Station. There is high pedestrian and bicycle connectivity from North Ryde Station to nearby employment centres.
LACHLAN’S LINE $150 MILLION Lachlan’s Line is a transit oriented development that is centrally located between Macquarie Park and North Ryde train stations. The development will provide housing for over 5,000 residents. A key feature of Lachlan’s Line is a significant ‘green spine’ that stretches from one end to the other, as well as a new pedestrian and cycleway bridge connecting the site directly to North Ryde Train Station. This development will also feature a supermarket based shopping centre and community facilities.
EMPLOYMENT GROWTH
The Ryde LGA is expected to provide upward of 40,000 new jobs by 2041
PROXIMITY TO GROWING EMPLOYMENT CENTRES The Macquarie Park Business Park has recorded significant growth in the last decade and is now the second largest business district in Sydney. The precinct hosts a range of corporations in industries including telecommunications, technology, pharmaceutical and electronics such as Microsoft, Sony, Optus, Johnson & Johnson and Goodman-Fielder. The precinct was estimated to accommodate almost 54,000 workers in 2011 and is forecast to increase by 24,000 by 2041.
NEW JOBS BY 2041
Overall, there is forecast to be 40,100 new jobs within the Ryde LGA by 2041. In addition, the good transport links provided by the M2 Motorway and North Ryde Train Station provide residents with good access to major employment centres such as the Sydney CBD, Chatswood, St Leonards and North Sydney CBD. The investment in the North West Rail Link will also make the area more accessible to a number of key employment nodes such as the Norwest Business Park. Employment growth is an important driver of residential demand with workers looking to live in close proximity to where they work. Forecast employment growth in Macquarie Park and nearby centres will potentially drive demand from new workers.
EMPLOYMENT GROWTH WITHIN THE SURROUNDING CENTRES
NORWEST BUSINESS PARK 26,500 NEW JOBS MACQUARIE PARK, BUSINESS PARK 24,000 NEW JOBS PARRAMATTA 33,400 NEW JOBS
CHATSWOOD 7,300 NEW JOBS
ST LEONARDS 12,900 NEW JOBS
SYDENY OLYMPIC PARK 8,700 NEW JOBS
NORTH SYDNEY 15,000 NEW JOBS SYDNEY CBD 130,500 NEW JOBS
Source: NSW Bureau of Transport Statistics (2014) URBIS MARKET OUTLOOK - CENTRALE NORTH RYDE © URBIS.COM.AU
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POPULATION GROWTH
120,000 100,000
2029
2030
2031
2030
2031
2028
2027
2029
2026
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
2013
2011
2,280 NEW RESIDENTS PER YEAR
2012
2010
2008
2007
2006
60,000
2009
ACTUAL POPULATION
80,000
Source: U rbis; Australian Bureau of Statistics 2013; NSW Planning and Environment 2014
CATCHMENT POPULATION GROWTH 50,000 45,000 40,000 35,000 30,000 25,000 20,000 15,000
ACTUAL POPULATION
10,000
1,145 NEW RESIDENTS PER YEAR
2028
2027
2026
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
2013
2014
2012
2011
2010
-
2009
5,000 2008
The North Ryde Catchment recorded a high proportion of Gen Y residents in 2011, equating to 32.9% of residents. This was well above the Metropolitan Sydney average of 28.7% and reflects the employment opportunities and amenity offered by the location. Conversely, the Catchment recorded a relatively lower proportion of Baby Boomer residents, accounting for 18.9% of residents.
140,000
2007
Applied to the average household size in the 2011 census this equates to 890 new dwellings required per annum to accommodate projected demand. This increase in underlying demand could potentially underpin residential property in this area over this timeframe.
160,000
2006
The wider Ryde LGA has recorded steady population growth during recent years from 100,300 in 2006 to 112,500 in 2013 at an average growth rate of 1.6%. Similar population growth is projected over the next 20 years with the Ryde LGA population forecast to increase by an average of 2,280 residents per year.
180,000
POPULATION
The population of the North Ryde Catchment is forecast to increase by more than 20,000 people between 2013 to 2031. The forecast growth equates to an average of 1,145 new residents per year at a growth rate of 3.2% per annum. This is double the population growth rate forecast for Metropolitan Sydney.
RYDE POPULATION GROWTH
POPULATION
For the purpose of this profile, the North Ryde Catchment has been defined as the suburbs of North Ryde and Macquarie Park. This reflects the significant growth potential within the two suburbs through the North Ryde Station and Herring Road, Macquarie Park Priority Precincts.
North Ryde and the wider Ryde LGA are projected to record significant population growth
Source: U rbis; Australian Bureau of Statistics 2013; NSW Planning and Environment 2014
AGE DISTRIBUTION CATCHMENT METROPOLITAN SYDNEY NORTH RYDE CATCHMENT
The age profile of residents in the North Ryde Catchment indicates that younger buyers and renters are likely to represent the majority of growth in contrast to Baby Boomers looking to downsize and/or participate as investors.
TG aged 85+ TG 80-84 TG 75-79 TG 70-74 Boomers 65-69 Boomers 60-64 Boomers 55-59 Boomers 50-54 GENERATIONS
Government population projections for the Ryde Local Government Area estimate that the population will grow by approximately 2,280 new residents per annum to 2031.
Gen X 45-49 Gen X 40-44 Gen X 35-39 Gen Y 30-34 Gen Y 25-29
Ryde will experience growth in its Generation Y population who are expected to be the largest age cohort in the property market as renters and purchasers from 2016 onwards (Generation Y comprises people born between 1980 and 2000).
Gen Y 20-24 Gen Y 15-19 Gen Z 10-14 Gen Z 5-9 Gen A 0-4 0
2
4
6
NUMBER OF RESIDENTS (%)
Source: Australian Bureau of Statistics 2011, Urbis
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10
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DEMOGRAPHICS
North Ryde is an affluent area with a high proportion of well-educated and professional workers
A high proportion of the population have a tertiary qualification with 38% having a bachelor degree or higher. This is supported by Macquarie University, with a large number of students also living in the Catchment area.
MEDIAN INCOME North Ryde Catchment Sydney $120,000
MEDIAN INCOME ($)
The North Ryde Catchment has a significant white collar labour force, comprising 84% of employed residents, which is well above the Sydney average (74%). This includes a high proportion of professionals, accounting for approximately 33% of workers. This reflects the numerous business parks and commercial centres located in close proximity to North Ryde.
$100,000
$102,323 $94,428
$87,974 $76,651
$80,000
$65,179
$57,921
$60,000 $40,000 $20,000
The North Ryde Catchment is very multicultural with approximately 46% of residents born overseas. This is well above the Sydney average and includes almost 9% of residents born in China. The well-educated and professional workforce is reflected by a high average annual income in the North Ryde Catchment of over $120,000, which is 8% above the Sydney average. The significant proportion of affluent white collar residents within the North Ryde Catchment represents a key demand driver for apartments in the area.
WHO LIVES IN NORTH RYDE
AVERAGE AGE OF RESIDENTS FAMILY HOUSEHOLDS
2001
2006
SYDNEY
38
37 73%
BORN OVERSEAS
46%
36%
EMPLOYED IN WHITE COLLAR JOBS
84%
74%
BACHELOR DEGREE OR HIGHER
38%
24%
EMPLOYED RESIDENTS BY OCCUPATION, 2011 SYDNEY
NORTH RYDE CATCHMENT
7%
LABOURERS
5% 6%
MACHINERY OPERATORS & DRIVERS
3% 9% 9% 16% 18%
CLERICAL & ADMINISTRATIVE WORKERS
9% 8%
COMMUNITY & PERSONAL SERVICE WORKERS
12% 10%
TECHNICIANS & TRADES WORKERS
26%
PROFESSIONALS
33% 14% 13%
MANAGERS
0%
AVERAGE HOUSEHOLD INCOME
$102,323
$94,428
HOUSEHOLD INCOME ABOVE $130,000 INCOME
32%
26%
Source: Australian Bureau of Statistics 2011
The North Ryde Catchment is affluent with average incomes above the Sydney average.
2011
Source: Australian Bureau of Statistics 2011
SALES WORKERS
NORTH RYDE CATCHMENT
65%
$0
5%
10%
15%
20%
25%
30%
35%
40%
SHARE OF POPULATION (%)
Source: Australian Bureau of Statistics 2011
Well educated white collar residents account for a higher proportion of the North Ryde Catchment compared to the Sydney average.
People born overseas make up almost half of residents in the North Ryde Catchment, which tends to drive higher demand for apartment living.
URBIS MARKET OUTLOOK - CENTRALE NORTH RYDE © URBIS.COM.AU
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INVESTMENT MARKET
North Ryde has recorded strong price growth over the last five years
APARTMENT MARKET
RENTAL
During 2014 the North Ryde Catchment recorded a median apartment price of $600,500 based on 218 settled transactions. Activity peaked in 2011 and 2012 with over 300 sales in both years, which represented a significant increase from the previous decade where sales averaged around 150 per year.
While much of the existing rental stock within Ryde is comparably affordable to inner ring rental stock, the graph illustrates that there is a premium for new rental stock within Ryde. Urbis market research indicates that on existing unit stock new 1 bed stock achieves a 25.6% premium and 2 bed stock achieves 40.9%.
SYDNEY
NORTH RYDE CATCHMENT
SYDNEY
8%
7%
10%
9%
Source: RPData
CATCHMENT APARTMENT SALES CYCLE NUMBER OF SALES MEDIAN SALE PRICES
$700,000
300
$600,000
250
$500,000
200
$400,000
150
$300,000
100
$200,000
50
$100,000
2014
2013
2011
2012
2010
2009
2008
2007
2006
2004
2005
2003
2002
2001
2000
1999
1998
1997
$0 1996
0
Source: RPData, Urbis
FUTURE APARTMENT DEVELOPMENT IN THE CATCHMENT NEW PRODUCT VERSUS EXISTING PRODUCT
NUMBER OF DWELLINGS PER YEAR 1,690
CATCHMENT - EXISTING PRODUCT CATCHMENT – NEW PRODUCT $700
$620
$600 $500
1,430
$528 $420
$440
$400
373
164
$300
7
$200 $100
0
$0
1 BED
2 BED
Source: Housing NSW, Urbis
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2015
2016
Source: Cordell Connect
2017
2018
2019
2020
MEDIAN SALE PRICE
350
1994
Approximately 400 apartments are anticipated to be completed in 2015 to 2017 indicating that the majority of proposed supply is still in the planning stage. Overall, the North Ryde Station and Herring Road, Macquarie Park Priority Precincts are anticipated to accommodate 8,400 dwellings, creating a lively dynamic community. Looking ahead, the North Ryde Catchment will continue to evolve with new residential apartment developments to enter the market as well as the construction of new commercial and infrastructure projects. This continued investment will further enhance the amenity and employment opportunities for existing and new residents.
NORTH RYDE CATCHMENT
1995
The creation of Priority Precincts at North Ryde Station and Herring Road, Macquarie Park by the NSW Government has generated significant interest from developers to develop new apartment buildings. Data compiled by Cordell Connect indicates that there are an estimated 3,664 residential apartments proposed to be completed in the Catchment area over the next five years.
MEDIAN PRICE GROWTH - 5 YEAR
NUMBER OF SALES
Apartment product within the Catchment has historically shown consistent and confident price growth recording a ten year median price increase of 4.4 % per annum. Price growth has been significantly higher in the last five years with a growth rate of 7.9 % per annum. The increase in the median apartment price over the last five years has been similar to the growth recorded throughout Sydney.
RELATIVE PRICING COMPARISON
Centrale is competitively priced compared to other projects in similar locations
North Ryde is located within 13 kilometres of the Sydney CBD and has good access to key employment and infrastructure nodes. It is interesting to compare the relative price of product proposed for Centrale to other key areas of apartment development within Sydney. The map below demonstrates the relative price range of an average new 2 bedroom, 2 bathroom, 1 car park apartment within Centrale, Meadowbank, St Leonards, Macquarie Park, Chatswood, Lindfield, Epping and Rhodes. Asking prices for Centrale are generally lower when compared to sales prices achieved in 2015 across similar locations.
INDICATIVE AVERAGE PRICE – NEW 2 BED, 2 BATH, 1 CAR APARTMENTS $1,600,000 $1,400,000 $1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000
O
CH
AT
SW
DF
O
IE
RD LIN
NA
D
LD
S
S DE O LE ST
M
M
O
NK
DO EA
Q AC
RH
BA
NG
W
EP
PI
PA E RI
UA
CE
NT
RA
RK
LE
$0
Source: Australand, Urbis
PRICE RANGE FOR NEW TWO BEDROOM STOCK
CENTRALE
EPPING CIRCA $830,000 TO $940,000
CIRCA $770,000 TO $900,000
LINDFIELD CIRCA $1,090,000 TO $1,320,000
CHATSWOOD CIRCA $1,225,000 TO $1,500,000
MACQARIE PARK
ST LEONARDS
CIRCA $790,000 TO $980,000
CIRCA $930,000 TO $1,12,000
MEADOWBANK RHODES
CIRCA $840,000 TO $1,050,000
SYDNEY CBD
CIRCA $860,000 TO $970,000
5km 10km Note: The prices are indicative only. 2015 off-the-plan sales for 2 bedroom, 2 bathroom apartments with 1 car space URBIS MARKET OUTLOOK - CENTRALE NORTH RYDE © URBIS.COM.AU
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Sydney Tower 2, Level 23, Darling Park 201 Sussex Street Sydney, NSW 2000 02 8233 9900
SPE0505
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 effect to ensure that the forecasts and assumptions are based on reasonable information, they may be affected by assumptions that do not necessarily eventuate or by know 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 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 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. Enquiries should be addressed to the publishers.