PROPERTY FACTSHEET PROPERTY WATCH速 REPORT GOLD COAST Surfers Paradise PENRITH Fourth Quarter 2013 1ST QUARTER 2015
MARKET OVERVIEW
KEY FACTS OVERVIEW
AVERAGE DAYS ON MARKET
The Greater Penrith property market Unum scessu tuam obus, witnessed highquam annual growth and diissero pubi senatia Scia Ifecons favorable conditions throughout 2014, cerehen iamditilnem concust which is expected to nonde continue in 2015 erunique rehem am Romnenterdiu and beyond. menatque cae crum convess essenti lnerfec tamenem popteridena, quit. Over the 12 months to December
100 House
Unit
Combined Average
Days on Market
80 60
2014, houses in the area recorded an Omnesicia Alari sultorunum num average rise in median prices of es iussuli befactem fac vir ina, que perid 14.6%. Meanwhile, over the same nes nero prit. Maiost iaes hi, conicae period, units witnessed a 14.5% rise. trati, ta ret; iaete orununt iliissendam. iussuli befactem vir ina, que perid Also over the 12 fac months to December Dierum omperena, peremei ilissen 2014, combined average days on terraed emendies se ipior in tam pro. market for houses and units declined
44 47
35 49
36 34
36 33
36 29
26 28
20
46 44
78 70
40
Q2 2013
Q3 2013
Q4 2013
Q1 2014
Q2 2014
Q3 2014
Q4 2014
0 Q1 2013
AVERAGE Overview 9%
House
Unit
Such low average days on market indicates buyer competition is fierce and confidence in the area is strong.
Combined Average
Over the same period, combined HEADING average percentage change from list to sale price has remained high. Currently buyers are paying an average of 4.2% over the asking price.
Q4 2014
This data suggest buyers are willing to pay more than expected to secure a place in the growing local market.
5.2%
3.3%
2.7%
Q2 2014
4.7%
7.3% +3.7%
Q1 2014
4.4%
1.6% 2.0%
Q4 2013
3.4%
+1.1%
Q3 2013
-1.1%
1%
-1.3%
3%
-0.5%
5%
+2.1%
7%
0.3%
Change From List to Sale Price
by 35.7% and is now only 28 days.
VENDOR DISCOUNT
-1% -3% Q1 2013
Q2 2013
Q3 2014
10 YEAR CAPITAL GROWTH House Sales
Unit Sales
House Median
Unit Median
2,500
$600,000
Number of sales
2,000
$400,000 $363,000
1,500
$300,000 1,000 $200,000 500
$100,000
Source: PriceFinder, Real Estate Institute of Australia
2014 DEC
Heading
2014 JUN
2013 DEC
2013 JUN
2012 DEC
2012 JUN
2011 DEC
2011 JUN
2010 DEC
2010 JUN
2009 DEC
2009 JUN
2008 DEC
2008 JUN
2007 DEC
2007 JUN
2006 DEC
2006 JUN
2005 DEC
2005 JUN
$0 2004 DEC
0
Median sale price
$510,000 $500,000
INVESTMENT ANALYSIS
KEY FACTS
QUARTERLY RENTAL PERFORMANCE
Current returns indicate a rental yield of 4.1% for houses in Penrith. Four plus bedroom dwellings saw the largest increase in median rents over the past 12 months with a 11.1% rise, with median per week rents reaching $500.
$600
12% 11.1%
Median
$500
10%
Ann 5.3%
$400
8%
0.0%
$300
6%
4.2%
$500
$200
4%
$400
In the 1st half of 2015 Penrith is set to receive $370 million in new projects. Developments range from large scale mixed use projects to new infrastructure; all of which should help further cement Penrith as a true satellite city.
$310
$248
$100
Dwelling projections indicate an average annual household growth of 1.6% which should see an average of 1,035 new dwellings added to the area each year.
2%
Overview $0
0%
1 Bedroom
2 Bedrooms
3 Bedrooms 4+ Bedrooms
PROPERTY CLOCK
DWELLING PROJECTIONS 100,000 90,000 80,000 70,000 60,000 50,000 40,000 30,000 20,000 10,000 0
Penrith City Council 2011
2016
2021
2026
Penrith
2031
TOP 5 NEW PROJECTS 1ST HALF 2015 Carson Lane Units ($70 million, 289 units) Werrington Arterial Road ($50 million)
Greater Sydney
HOUSE RENTAL YIELD
+4.1%
Jordan Springs Central Precinct ($38 million) Great Western Hwy Mixed-use ($23 million, 97 units) Queen St Mixed-use ($14 million, 40 units)
Current Median: $510,000 Current Median Rent: $400 Based on 3,080 registered sales compared over the last 12 Heading months.
Source: PriceFinder, Cordell Database, RPdata, New South Wales Department of Planning and Environment
PROJECT DEVELOPMENT MAP 2015
COMMERCIAL Project Title 1
ST MARYS VILLAGE SHOPPING CENTRE WESTERN SYDNEY COMMUNITY AND SPORTS CENTRE ST MARYS RUGBY LEAGUE CLUB MOTELS
MIXED USE Estimated Value
Commence Date
$100,000,000
12/10/2015
Project Title
Estimated Value
Commence Date
11
SYDNEY SCIENCE PARK
$2,500,000,000
21/05/2017
$850,000,000
23/11/2015
$46,965,000
21/09/2015
12
PENRITH PANTHERS RIVERLINK PRECINCT
$37,550,000
26/09/2016
13
JORDAN SPRINGS VILLAGE
$50,750,000
20/07/2015
4 PENRITH PANTHERS APARTMENTS
$32,811,000
14/09/2015
14
NEPEAN HEALTH PRECINT
$39,460,000
28/05/2018
5
GLENMORE PARK TOWN CENTRE
$27,248,000
06/07/2015
15
WESTERN HWY MIXED USE
$23,000,000
08/06/2015
6
ST MARYS RUGBY LEAGUE CLUB
$25,025,000
10/08/2015
16 PENRITH LAKES REDEVELOPMENT
$20,000,000
01/09/2017
2 3
INFRASTRUCTURE
RESIDENTIAL
Project Title
Estimated Value
Commence Date
Project Title
Estimated Value
Commence Date
7
JANE STREET EXTENSION
$70,000,000
15/02/2016
8
WERRINGTON ARTERIAL RD CORRIDOR
17
CARSONS LN UNITS
$70,623,000
15/06/2015
16/02/2015
18
SOUTHERN CROSS AGED CARE FACILITY
$50,000,000
$43,082,000
19/10/2015
9
JORDAN SPRINGS - CENTRAL
10
NEPEAN RIVER GREEN BRIDGE
$38,000,000
22/06/2015
19
THORNTON CENTRAL
$36,335,000
13/09/2015
$20,000,000
31/08/2015
20
SAINSBURY ST UNITS
$14,711,000
20/07/2015
Disclaimer: #This table includes the top 20 projects based on estimated land and construction value that have been reported as commencing construction from 1/1/2015 onwards regardless of the current stage in the development process. Estimated value does not capture commercial and/or sale value Source: Cordell Database, New South Wales Department of Planning and Environment, PRDnationwide, Scribblemaps
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PRDnationwide does not give any warranty in relation to the accuracy of the information contained in this report. If you intend to rely upon the information contained herein, you must take note that the Information, figures and projections have been provided by various sources and have not been verified by us. We have no belief one way or the other in relation to the accuracy of such information, figures and projections. PRDnationwide will not be liable for any loss or damage resulting from any statement, figure, calculation or any other information that you rely upon that is contained in the material. Prepared by PRDnationwide Research © All medians and volumes are calculated by PRDnationwide Research. Use with written permission only. All other responsibilities disclaimed. © 2014 2014 Graphs and tables prepared by PRDnationwide Research. Source: PriceFinder, Cordell, ABS