PROPERTY HOTSPOTS PROPERTY WATCH REPORT. GOLD COAST Surfers Paradise Fourth Quarter 2013

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1 PROPERTY HOTSPOTS PROPERTY WATCH REPORT GOLD COAST Surfers Paradise Fourth Quarter 2013 SOUTH EAST QUEENSLAND 1 ST HALF 2016

2 HOTSPOTS OVERVIEW This South East Queensland hotspot report analyses all suburbs within the Brisbane City Council, Sunshine Coast, Moreton Bay, Ipswich, Logan, Redland, and Gold Coast City Council domain, to highlight those with above average growth over the past 15 months to 2015 and 2016**. Two key indicators are utilised: Firstly median price growth and transaction level of house and unit between 2014 and 2015/2016**. Overall South East Queensland median house price has increased with Gold Coast City LGA*** leading the growth. Higher house median price are recorded despite of slower median growth rate compared to This suggests that the housing market continue to perform, hinting at potential rise in future demand. Secondly the aggregate estimated value of residential, commercial, and infrastructure project developments to commence construction in 2016 onwards. This is important as it indicates upcoming property supply, connectivity between to the CBD and other economic hubs, and level of economic activity expected in the area. 15 MONTHS MARKET COMPARISON LGA Property Type & 2016** Growth * Brisbane House $590,000 $620, % $29.1B Unit $432,000 $450, % KEY MARKET INDICATORS Change from Last House sales Half Sunshine Coast House $496,000 $515, % $9.6B House median Moreton Bay Unit $363,000 $365, % House $413,250 $425, % $2.9B Unit $336,500 $335, % Ipswich House $320,000 $330, % $4.0B Unit $300,000 $302, % Logan House $375,000 $387, % $4.4B Unit $252,000 $247, % Redland House $477,000 $495, % $935.7M Gold Coast*** Unit $372,000 $394, % House $525,000 $560, % $9.5B Units $364,000 $372, % House rents Unit sales Unit median Unit rents Dr Diaswati Mardiasmo PRDnationwide National Research Manager South East Queensland s popularity is increasing, with positive price growth in most LGAs will see higher activity and new developments, making it a place to watch and buyers to quickly take action Dr Diaswati Mardiasmo PRDnationwide National Research Manager *Disclaimer: Project Development spending is based on aggregate of estimated land and construction value for residential, commercial, and infrastructure construction commencing between 2015 and ** for captures sales from 1 st January 2015 and up to and inclusive of 31 st March 2016 (end of Q1 2016). ***Gold Coast figures are that of Gold Coast City LGA only and does not include Albert Shire Source: APM finder, Queensland Department of State Development, Infrastructure and Planning, Cordell Database, Real Estate Institute of Queensland

3 SEQ MEDIAN HOUSE PRICE LGA MAP 2016* LEGEND DATA NOT AVAILABLE < $400,000 $400,000 - $600,000 $600,000 - $800,000 $800,000 - $1,000,000 > $1,000,000 MOST EXPENSIVE SUBURBS House New Farm $1,737, % Teneriffe $1,500, % Burbank $1,250, % MOST AFFORDABLE SUBURBS House Leichhardt $225, % Macleay Island Russell Island $230, % $168, % *Disclaimer: South East Queensland House Map captures property sales for the past 15 months between 1 st January 2015 up to and inclusive of 31 st March 2016 (end of Q1 2016) Source: APM finder, Real Estate Institute of Queensland, Australian Bureau of Statistics, ESRI

4 BRISBANE BRISBANE KEY INDICATORS Change from Last House sales Half House median House rents Unit sales Unit median 15 MONTHS TOP PERFORMERS Unit rents Area Type & 2016** Annual Growth * 2017* Main * Inner Herston House $630,000 $807, % $90.4M $50.0M Woolloongabba Unit $400,000 $450, % $1.2B $460.0M North Clayfield House $888,000 $1.2M 35.1% $87.1M $13.6M Kedron Unit $425,000 $455, % $1.3M $2.5M South Dutton Park House $716,000 $860, % $352.6M $16.0M Herston Quarter Health Precinct Redevelopment ($80.0M), Royal Brisbane Women Hospital Interim Specialist Rehabilitation Facility ($3.0M) The Chalk Mixed Use Development ($150.0M), Ipswich Road Mixed Use Development ($80.0M) Aveo Retirement Village Clayfield ($24.4M), Aveo Clayfield Independent Living Units ($15.0M) Gallagher Terrace Apartments ($15.0M), Kedron Coles Development ($10.0M) Boggo Road Urban Village ($275.0M), Boggo Road Mixed Use Development ($60.0M) Holland Park West Unit $415,000 $462, % $44.0M Logan Road Units ($30.0M), Dr $50.0M Diaswati Mardiasmo Holland Park View Apartments PRDnationwide National Research ($8.0M) Manager East Morningside House $648,000 $717, % $54.5M $29.0M Gateway International Hotel ($15.0M), Monmouth Street Units ($6.6M) Balmoral Unit $475,000 $529, % $11.4M $2.7M West Indooroopilly House $752,000 $840, % $100.7M $67.5M Pollock Street Units ($2.0M), Oxford Street Units ($1.6M) Musgrave Road Units ($20.0M), Evoque Apartments ($10.0M) Corinda Unit $362,000 $415, % $64.3M $30.0M Bethesda Caring Centre Aged Care Redevelopment ($20.0M), Kingsford Terrace Aged Care Facility ($15.0M) Disclaimer: *Project Development spending is based on aggregate of estimated land and construction value for residential, commercial, and infrastructure construction commencing between 2015 and 2016; and for 2017 ** for captures sales from 1 st January 2015 and up to and inclusive of 31 st March 2016 (end of Q1 2016). Source: APM finder, Queensland Department of State Development, Infrastructure and Planning, Cordell Database, Real Estate Institute of Queensland

5 BRISBANE MEDIAN HOUSE PRICE MAP 2016* ADELAIDE CBD LEGEND DATA NOT AVAILABLE < $400,000 $400,000 - $600,000 $600,000 - $800,000 $800,000 - $1,000,000 > $1,000,000 Top 3 Lowest d 2015 & 2016* Project Development 2016** Disclaimer: * price quoted captures sales from 1 st January 2015 to 31 st March 2016; Q1 rental figures quoted captures rented properties up to and inclusive of 31 st March 2016 **Project Development spending is based on aggregate land and construction value as provided by the relevant data authority and does not include commercial/re-sale value Source: APM finder, Real Estate Institute of Queensland, Australian Bureau of Statistics, ESRI, Cordell Database, QLD Department of State Development, Infrastructure, and Planning Rent (Q1)* Ellen Grove $259,050 $45.0M $ % Wacol $305,000 $10.1M $ % Pinkenba $315,000 $59.2M N/A 6.3% Top 3 Highest d 2015 & 2016* Project Development 2016** Rent (Q1)* New Farm $1,737,500 $19.1M $ % Teneriffe $1,500,000 $75.3M $ % Burbank $1,250,000 $1.5M N/A 3.5%

6 Number Of Sales BRISBANE CITY COUNCIL PROPERTY GROWTH $700,000 Rent : $495 : +2.6% Average Days on Market $600,000 : 47 Bedroom Breakdown: 2 Bed: 17%, 3 Bed: 46%, $500, Bed: 38% KEY FACTS Interest 6000 in Surfers Paradise property market is recorded at an average of 49 visits per property, on par with average regional QLD of 48. Home loan 4000 affordability is widely spread, between $1000-$3000+ per month. affordability sit within mid-high end of the market at $275-$449 per 2000 week. In % of homes were fully owned and 37% rented. KEY FACTS UNIT Rent : $400 : +5.4% $200,000 Average Days on Market: 36 Bedroom Breakdown: $100,000 1 Bed: 32%, 2 Bed: 54%, 3+ Bed: 14% 0 $ * House Unit Vacant Land House Unit Land $400,000 $300,000 TOP PROJECTS 2016 BASED ON ESTIMATED VALUE Project Title Brief Project Description Estimated Value** Commence Completion RNA Exhibition Showgrounds Redevelopment Gateway Upgrade North Project Bowen Hills Nudgee Upgrade of Exhibition Grounds to provide commercial, retail and residential spaces and industrial pavilions Upgrade to the Gateway Motorway from Nudgee to Bracken Ridge $1.9B 28/01/2016 TBA $1.2B 25/01/ /12/2018 Brisbane Airport New Parallel Runaway (NPR) STAGE 3 Kingsford Smith Drive Upgrade Logan Enhancement Project Queen Street Mixed Use Development Southpoint Mixed Development Tower 3 Brisbane Airport Eagle Farm Runcorn Runaway set parallel to the existing main runway & positioned towards Moreton Bay Road widening from four to six lanes between Theodore Street at Eagle Farm & Cooksley Street at Hamilton To include interchange upgrades, widening parts of Gateway Extension Motorway & construction of new southfacing ramps at Compton Road $1.0B 03/07/ /11/2017 $650.1M 01/03/ /12/2018 $450.0M 04/11/ /03/2019 Brisbane Construction of shops and 264 units $375.0M 05/09/ /03/2018 South Brisbane Construction of 22-storey tower including hotel, apartments and retail stores $200.0M 11/01/ /10/2017 Disclaimer: * for 2016 captures sales up to and inclusive of 31 st March 2016 (end of Q1 2016) **Project Development spending is based on aggregate of estimated land and construction value for residential, commercial, and infrastructure construction commencing in 2016 Source: APM finder, Queensland Department of State Development, Infrastructure and Planning, Cordell Database, Real Estate Institute of Queensland

7 SUNSHINE COAST KEY MARKET INDICATORS Change from Last House sales Half *IMAGE* 6.5cm HIGH 10.6cm WIDE House median House rents Unit sales Unit median Unit rents 15 MONTHS TOP PERFORMERS Sunshine Coast Area Type & 2016** Annual Growth * 2017* Main * Inner Alexandra Headland House $712,500 $855, % $12.0M $72.5M Kennards Maroochydore Extension ($2.0M), Mari Street Mixed Development ($10.0M) Mooloolaba House $645,000 $660, % $137.8M $112.0M Mooloolaba Esplanade Mixed Use Development ($40.0M), The Breeze Apartments ($22.0M) Northern Southern Western Alexandra Headland Unit $330,000 $345, % $12.0M $72.5M Coolum Beach House $500,000 $530, % $46.1M $97.8M Little Mountain House $495,000 $530, % $36.2M $63.0M Kennards Maroochydore Extension ($2.0M), Mari Street Mixed Development ($10.0M) St Marys Beach Residential Aged Care Facility ($15.0M), David Low Way Mixed Use Development ($5) Tricare Little Mountain Aged Care Facility ($18.0M), Parklands Boulevard Mixed Use Development ($15.0M) Dr Diaswati Mardiasmo Bruce Highway Upgrade ($1.1B), Caloundra House $432,000 $437, % $1.3B $14.5M Stockland Caloundra Bowman PRDnationwide Road National Redevelopment Research ($50.0M) Manager Nambour House $336,000 $349, % $44.1M $83.7M Buderim House $545,000 $565, % $126.3M $57.5M Fairmeadow Road Townhouses ($9.0M), Nambour Selangor Private Hospital Refurbishment ($3.5M) Buderim Retail Centre ($30.0M), Buderim Mckenzie Aged Care Facility ($20.0M) Nambour Unit $218,000 $252, % $44.1M $83.7M Fairmeadow Road Townhouses ($9.0M), Nambour Selangor Private Hospital Refurbishment ($3.5M) Buderim Unit $370,000 $387, % $126.3M $57.5M Buderim Retail Centre ($30.0M), Buderim Mckenzie Aged Care Facility ($20.0M) Disclaimer: *Project Development spending is based on aggregate of estimated land and construction value for residential, commercial, and infrastructure construction commencing between 2015 and 2016; and for 2017 ** for captures sales from 1 st January 2015 and up to and inclusive of 31 st March 2016 (end of Q1 2016). Source: APM finder, Queensland Department of State Development, Infrastructure and Planning, Cordell Database, Real Estate Institute of Queensland

8 SUNSHINE COAST MEDIAN HOUSE PRICE MAP 2016* LEGEND DATA NOT AVAILABLE < $400,000 $400,000 - $600,000 $600,000 - $800,000 $800,000 - $1,000,000 > $1,000,000 MOST EXPENSIVE SUBURBS House Minyama $975, % Tanawha $971, % Shelly Beach $892, % MOST AFFORDABLE SUBURBS House Kenilworth $310, % Nambour $350, % Yandina Creek $380, % Disclaimer: * price quoted captures sales from 1 st January 2015 to 31 st March 2016 **Project Development spending is based on aggregate land and construction value as provided by the relevant data authority and does not include commercial/re-sale value Source: APM finder, Real Estate Institute of Queensland, Australian Bureau of Statistics, ESRI, Cordell Database, QLD Department of State Development, Infrastructure, and Planning

9 Number of Sales SUNSHINE COAST REGIONAL PROPERTY GROWTH $600,000 Rent : $495 : +2.6% $500,000 Average Days on Market : 47 Bedroom Breakdown: 2 Bed: 17%, 3 Bed: 46%, $400, Bed: 38% KEY FACTS 2000 Rent : $400 Interest in Surfers Paradise property market is recorded at an average : +5.4% $100,000 of visits per property, on par with average regional QLD of 48. Home Average Days on Market: 36 loan affordability is widely spread, between $1000-$3000+ per month. Bedroom Breakdown: affordability 0 sit within mid-high end of the market at $275-$449 $0 1 Bed: 32%, 2 Bed: 54%, 3+ Bed: 14% per week. In % of homes were 2013 fully owned and % rented * KEY FACTS UNIT $300,000 $200,000 House Unit Vacant Land House Unit Land TOP PROJECTS 2016 BASED ON ESTIMATED VALUE Project Title Brief Project Description Estimated Value** Commence Completion Aura Estate Master Planned Community Bruce Highway Upgrade Sunshine Plaza Shopping Centre Redevelopment Bells Creek Caloundra Maroochydore Development of 6 green star Aura Estate community over 19 precincts $5.1B 04/11/ /11/2045 Early works contractor for upgrade to 7km span of the Bruce Highway $1.2B 31/08/ /06/2020 Construction of 18,127sq m extension to shopping centre. $350.0M 18/08/ /12/2018 Sunshine Coast Airport Expansion Marcoola Construction of runway & terminal $350.0M 15/10/ /12/2019 QR-SE QLD Infrastructure Plan Suncentral Development Bokarina Beach Development Youi Global Headquarters Building Sunshine Cove Masterplanned Community Landsborough Maroochydore Wurtulla Sippy Downs Maroochydore Beerburrum-Landsborough Infrastructure Plan to include straightening & duplicating 17km rail line between Beerburrum & Landsborough $275.3M 11/02/2016 TBA Master planning of new City Business District for the Sunshine Coast $200.1M 11/02/ /09/2035 Construction of community development area with buildings from 2 to 8 storey $100.0M 03/11/ /06/2019 Construction of a 4 storey office building to provide Youi Global Headquarters $80.0M 10/11/ /11/2018 Proposed residential & commercial development of approximately 106 ha over 11 precincts $80.2M 03/12/ /06/2020 Disclaimer: * for 2016 captures sales up to and inclusive of 31 st March 2016 (end of Q1 2016) **Project Development spending is based on aggregate of estimated land and construction value for residential, commercial, and infrastructure construction commencing in 2016 Source: APM finder, Queensland Department of State Development, Infrastructure and Planning, Cordell Database, Real Estate Institute of Queensland

10 MORETON BAY KEY MARKET INDICATORS Change from Last House sales Half *IMAGE* 6.5cm HIGH 10.6cm WIDE House median House rents Unit sales Unit median 15 MONTHS TOP PERFORMERS Moreton Bay Area Inner Type & 2016** Annual Growth * Unit rents 2017* Caboolture House $308,000 $325, % $147.8M $17.2M Main * Caboolture East State Primary School ($35.0M), Heritage Plaza Shopping Centre Extension ($25.0M) Southern Morayfield House $330,000 $340, % $154.5M $13.7M Burpengary House $400,000 $420, % $164.1M $54.5M Burpengary Unit $270,000 $319, % $164.1M $54.5M Brendale House $368,000 $385, % $128.8M $1.0M Oakey Flat Road Retirement Village ($30.0M), Caboolture River Road Townhouses ($20.0M) Bruce Highway Townhouses ($30.0M), Burpengary Relocate Home Park($30.0M) Bruce Highway Townhouses ($30.0M), Burpengary Relocate Home Park($30.0M) South Pine River & Tributary Creek Bridge Upgrades ($50.0M), Eatons Hill Village Shopping Centre & Motel ($35.0M) Eastern Westfield Northlakes & Ikea North Lakes Unit $359,000 $370, % $409.9M $91.8M Dr Diaswati ($230.0M), Mardiasmo Mclennan Court Mixed Use Development($30.0M) PRDnationwide National Research Manager Redcliffe House $380,000 $388, % $81.0M $37.0M Scarborough House $452,000 $481, % $84.3M $9.4M Redcliffe Unit $340,000 $360, % $81.0M $37.0M Cominoa Arcade Mixed Use Development ($28.0M), Isle of Newport Estate Residential Subdivision ($10.0M) Isle of Newport Waterfront Master Plan Community ($59.0M), The Scarborough Mixed Use Development($10.0M) Bruce Highway Townhouses ($30.0M), Burpengary Relocate Home Park($30.0M) Woody Point Unit $331,000 $353, % $20.4M $18.0M Caroline Street Units ($6.8M), Arthur Street Units($5.2M) Disclaimer: *Project Development spending is based on aggregate of estimated land and construction value for residential, commercial, and infrastructure construction commencing between 2015 and 2016; and for 2017 ** for captures sales from 1 st January 2015 and up to and inclusive of 31 st March 2016 (end of Q1 2016). Source: APM finder, Queensland Department of State Development, Infrastructure and Planning, Cordell Database, Real Estate Institute of Queensland

11 MORETON BAY MEDIAN HOUSE PRICE MAP 2016* LEGEND DATA NOT AVAILABLE < $400,000 $400,000 - $600,000 $600,000 - $800,000 $800,000 - $1,000,000 > $1,000,000 MOST EXPENSIVE SUBURBS House Cedar Creek Samford Valley $920, % $880, % Highvale $874, % MOST AFFORDABLE SUBURBS House Toorbul $305, % Caboolture $325, % Caboolture South $272, % Disclaimer: * price quoted captures sales from 1 st January 2015 to 31 st March 2016 **Project Development spending is based on aggregate land and construction value as provided by the relevant data authority and does not include commercial/re-sale value Source: APM finder, Real Estate Institute of Queensland, Australian Bureau of Statistics, ESRI, Cordell Database, QLD Department of State Development, Infrastructure, and Planning

12 Number of Sales MORETON BAY REGIONAL PROPERTY GROWTH 9000 $500,000 Rent : $ : +2.6% $450,000 Average Days on Market : $400,000 Bedroom Breakdown: 2 Bed: 17%, 3 Bed: 46%, $350, Bed: 38% $300, $250, KEY FACTS UNIT$200, KEY FACTS $150, Rent : $400 Interest in Surfers Paradise property market is recorded at an average $100,000 : +5.4% of visits per property, on par with average regional QLD of 48. Home Average Days on Market: $50, loan affordability is widely spread, between $1000-$3000+ per month. Bedroom Breakdown: 0 affordability sit within mid-high end of the market at $275-$449 $0 1 Bed: 32%, 2 Bed: 54%, 3+ Bed: 14% per week. In % of homes were 2013 fully owned and % rented * House Unit Vacant Land House Unit Land TOP PROJECTS 2016 BASED ON ESTIMATED VALUE Project Title Brief Project Description Estimated Value** Commence Completion Elimbah East Mixed Development Elimbah Two precincts of 1990 units and 710 houses including golf course, restaurants and parks. $80.0M 3/12/ /08/2020 Bruce Highway & Boundary Road Interchange Upgrade Narangba Interchange Upgrade including new 6 lane 4-span bridge. $54.746M 15/06/ /12/2018 Kinsellas Road West Townhouses Mango Hill Proposed construction of 201 x 2 storey townhouses in 67 separate buildings including 419 carparks. $44.0M 18/09/2016 1/10/2018 Rothwell Intersection Upgrade Project Rothwell Upgrade of Rothwell intersection at Anzac Avenue & Deception Bay Road. $37.5M 18/12/ /12/2017 Eatons Hill Village Shopping Centre and Motel Brendale Construction of shopping centre and 7 storey motel. $35.0M 22/02/ /02/2018 North Lakes Large Format Retail Development Oakey Flat Road Retirement Village & Townhouses Stages 1-3 Spinnaker Drive Units Stages 1-3 North Lakes Construction of 2 storey retail building $30.0M 6/03/ /12/2016 Morayfield Sandstone Point Removal of existing dwelling and construction of retirement home and townhouses Construction of 168 units in 5 separate buildings $30.0M 12/10/ /10/2017 $30.0M 10/11/ /10/2019 Disclaimer: * for 2016 captures sales up to and inclusive of 31 st March 2016 (end of Q1 2016) **Project Development spending is based on aggregate of estimated land and construction value for residential, commercial, and infrastructure construction commencing in 2016 Source: APM finder, Queensland Department of State Development, Infrastructure and Planning, Cordell Database, Real Estate Institute of Queensland

13 IPSWICH KEY MARKET INDICATORS Change from Last House sales Half *IMAGE* 6.5cm HIGH 10.6cm WIDE House median House rents Unit sales Unit median Unit rents 15 MONTHS TOP PERFORMERS Ipswich Area Type & 2016** Annual Growth * 2017* Main * Inner Booval House $263,000 $279, % $22.0M $1.5M Nimmo Street Townhouses ($5.0M), Alexandra Street Townhouses ($3.0M) North Ipswich House $256,000 $270, % $43.3M $22.1M Lowry Street Units ($20.0M), North Street Townhouses ($15.0M) Southern Eastern Ripley House $295,000 $340, % $133.6M $66.0M Redbank House $288,000 $308, % $83.2M $2.2M Secondary Urban Centre East Residential Subdivision ($50.0M), Watson Road Subdivision($11.0M) Rebank Motorway Estate Logistics Facility ($70.0M), Collingwood Drive Townhouses ($7.5M) Collinwood Park House $305,000 $317, % $54.7M $27.0M Six Mile Creek Village Estate ($13.8M), Cairns Street Estate Subdivision ($10.6M) Dr Diaswati Brookwater Mardiasmo Village Green Resort Hotel Springfield House $380,000 $401, % $52.6M $500K & Apartments ($30.0M), Springview PRDnationwide Estate National Precinct Research Subdivision Manager ($17.0M) Redbank Plains Springfield Lakes Redbank Plains Springfield Lakes House $308,000 $312, % $207.6M $53.7M House $406,000 $415, % $34.7M $39.8M Unit $229,000 $232, % $207.6M $53.7M Unit $381,000 $384, % $34.7M $39.8M Redbank Plains Road Townhouses ($40.0M), Redbank Plains State Primary School ($35.0M) The Peninsula Springfield Lakes Subdivision ($27.1M), The Summit Estate Subdivision ($3.2M) Redbank Plains Road Townhouses ($40.0M), Redbank Plains State Primary School ($35.0M) The Peninsula Springfield Lakes Subdivision ($27.0M), The Summit Estate Subdivision ($3.2M) Disclaimer: *Project Development spending is based on aggregate of estimated land and construction value for residential, commercial, and infrastructure construction commencing between 2015 and 2016; and for 2017 ** for captures sales from 1 st January 2015 and up to and inclusive of 31 st March 2016 (end of Q1 2016). Source: APM finder, Queensland Department of State Development, Infrastructure and Planning, Cordell Database, Real Estate Institute of Queensland

14 IPSWICH MEDIAN HOUSE PRICE MAP 2016* SYD CBD SYD AIRPORT LEGEND DATA NOT AVAILABLE < $400,000 $400,000 - $600,000 $600,000 - $800,000 $800,000 - $1,000,000 > $1,000,000 Top 3 Lowest d 2015 & 2016* Project Development 2016** Rent (Q1) Basin Pocket $232,500 - $ % Dinmore $227,000 $33.3M $ % Leichhardt $225,000 $6.2M $ % Top 3 Highest d 2015 & 2016* Project Development 2016** Rent (Q1) Pine Mountain $520,000 - $ % Augustine Heights $500,000 $10.0M $ % Karalee $492,000 $2.7M $ % Disclaimer: * price quoted captures sales from 1 st January 2015 to 31 st March 2016; Q1 rental figures quoted captures rented properties up to and inclusive of 31 st March 2016 **Project Development spending is based on aggregate land and construction value as provided by the relevant data authority and does not include commercial/re-sale value Source: APM finder, Real Estate Institute of Queensland, Australian Bureau of Statistics, ESRI, Cordell Database, QLD Department of State Development, Infrastructure, and Planning, City of Ipswich Planning and Development

15 Number Of Sales IPSWICH LGA PROPERTY GROWTH $350,000 Rent : $495 : +2.6% $300,000 Average Days on Market : 47 Bedroom Breakdown: $250,000 2 Bed: 17%, 3 Bed: 46%, 4+ Bed: 38% $200,000 KEY FACTS UNIT $100,000 KEY 1000 FACTS Rent : $400 Interest 500 in Surfers Paradise property market is recorded at an average : +5.4% $50,000 of 49 visits per property, on par with average regional QLD of 48. Home Average Days on Market: 36 loan 0affordability is widely spread, between $1000-$3000+ per month. Bedroom Breakdown: $0 affordability 2012sit within mid-high 2013end of the market 2014at $275-$ Bed: 32%, 2016* 2 Bed: 54%, 3+ Bed: 14% per week. In % of homes were fully owned and 37% rented. House Unit Vacant Land House Unit Land TOP PROJECTS 2016 BASED ON ESTIMATED VALUE $150,000 Project Title Brief Project Description Estimated Value** Commence Completion Aveo Springfield Aged Friendly Community States 2-9 RAAF Amberley 35 th Squadron Relocation & Battlefield Airlifters Base Project Springfield Rise at Spring Mountain Master Planned Community Springfield Central Amberley Springfield Central Development plan for retirement village and aged care centre, high street precinct and public space. $400.0M 22/09/ /12/2020 Proposed facilities for future operating base of 35 th Squadron. $370.0M 15/02/2016 TBA Precinct plan for residential community with lots including shopping centre, commercial centres, schools, parks and child care centres. $225.0M 3/10/ /03/2019 RAAF Base Amberley Hangar Facility Upgrade Redbank Motorway Estate Logistics Facility Department of Defence Air Traffic Management & Control Systems Springfield Health City 1 Mixed Use Development Stages 1 & 2 Redbank Plains Road Townhouses Amberley Redbank Amberley Springfield Redbank Plains Upgrade of RAAF Base Construction of logistics facility for warehousing & distributing services with 3 warehouses $90.0M 1/08/ /08/2018 $70.0M 16/09/ /06/2017 New Defence Air Traffic Management & Control System $53.0M 20/06/ /12/2020 Construction of mixed use development including hotel, medical centre, shops and child care. Construction of 87 townhouses $50.0M 26/09/ /12/2017 $40.0M 19/09/ /10/2017 Disclaimer: * for 2016 captures sales up to and inclusive of 31 st March 2016 (end of Q1 2016) **Project Development spending is based on aggregate of estimated land and construction value for residential, commercial, and infrastructure construction commencing in 2016 Source: APM finder, Queensland Department of State Development, Infrastructure and Planning, Cordell Database, Real Estate Institute of Queensland

16 LOGAN KEY MARKET INDICATORS Change from Last House sales Half *IMAGE* 6.5cm HIGH 10.6cm WIDE House median House rents Unit sales Unit median Unit rents 15 MONTHS TOP PERFORMERS Logan Area Inner Logan Central Type & 2016** Annual Growth * 2017* House $267,000 $308, % $28.8M $200.0M Marsden House $320,000 $341, % $49.0M $9.1M Springwood House $436,000 $471, % $27.7M $9.0M Waterford House $362,000 $394, % $5.8M $35.0M Main * Blackwood Drive Mixed Development ($12.0M) Logan and Woolloongabba Oral Health Consolidation Precinct ($7.0M) Marsden Park Shopping Centre Extension ($25.0M), Second Avenue Townhouses ($8.0M) Barbaralla Drive Townhouses ($17.1M), Elements Third Age Living ($4.2M) Holmview 7 Eleven Service Station & Oporto Restaurant ($3.8M), Dairy Creek Road Residential Subdivision ($1.5M) Southern Logan Central Logan Reserve Unit $178,000 $187, % $28.8M $200.0M Blackwood Drive Mixed Development ($12.0M) Logan and Woolloongabba Oral Health Consolidation Precinct ($7.0M) Logan Rserve Road Residential House $359,000 $391, % $48.0M $42.0M Dr Diaswati Subdivision Mardiasmo Stages 1-14 ($25.0M), Stoneleigh Reserve Estate Subdivision PRDnationwide Remaining National Research Stages ($7.1M) Manager Logan Village House $487,000 $519, % $42.3M $3.2M Amber Gardens ($20.0M), Yarrabilba Precinct 2 Village 5 Stages ($15.0M) Eastern Western Yarrabilba House $376,000 $395, % $102.8M $2.4B Holmview House $345,000 $355, % $18.5M $9.6M Hillcrest Unit $218,000 $229, % $6.3M $3.5M Yarrabilba Precinct 2 North & South Village ($48.0M), Yarrabilba Precinct 2 Village 5 Residential Subdivision ($15.0M) Tallagandra Road Subdivision ($5.2M), Tallagandra Road Residential Subdivision ($4.0M) Greenbank RSL Alterations ($5.0M), Middle Road Self Storage Facility ($4.0M) Disclaimer: *Project Development spending is based on aggregate of estimated land and construction value for residential, commercial, and infrastructure construction commencing between 2015 and 2016; and for 2017 ** for captures sales from 1 st January 2015 and up to and inclusive of 31 st March 2016 (end of Q1 2016). Source: APM finder, Queensland Department of State Development, Infrastructure and Planning, Cordell Database, Real Estate Institute of Queensland

17 LOGAN MEDIAN HOUSE PRICE MAP 2016* SYD CBD SYD AIRPORT LEGEND DATA NOT AVAILABLE < $400,000 $400,000 - $600,000 $600,000 - $800,000 $800,000 - $1,000,000 > $1,000,000 Top 3 Lowest d 2015 & 2016* Project Development 2016** Rent (Q1)* Kingston $305,000 $3.7M $ % Woodridge $300,000 $15.4M $ % Eagleby $280,500 $85.5M $ % Top 3 Highest d 2015 & 2016* Project Development 2016** Rent (Q1)* Forestdale $745,000 - $ % Buccan $600, % Chambers Flat $587,500 $50.0M $ % Disclaimer: * price quoted captures sales from 1 st January 2015 to 31 st March 2016; Q1 rental figures quoted captures rented properties up to and inclusive of 31 st March 2016 **Project Development spending is based on aggregate land and construction value as provided by the relevant data authority and does not include commercial/re-sale value Source: APM finder, Real Estate Institute of Queensland, Australian Bureau of Statistics, ESRI, Cordell Database, QLD Department of State Development, Infrastructure, and Planning

18 Number Of Sales LOGAN CITY LGA PROPERTY GROWTH KEY FACTS Rent : $495 $450,000 : +2.6% Average Days on Market $400,000 : 47 Bedroom Breakdown: $350,000 2 Bed: 17%, 3 Bed: 46%, 4+ Bed: 38% $300,000 KEY FACTS UNIT $500,000 $250,000 $200,000 $150,000 $100, Rent : $400 Interest in Surfers Paradise property market is recorded at an average : +5.4% $50,000 of 49 visits per property, on par with average regional QLD of 48. Home Average Days on Market: 36 loan affordability 0 is widely spread, between $1000-$3000+ per month. $0 Bedroom Breakdown: affordability 2012 sit within mid-high 2013 end of the market 2014 at $275-$ * 1 Bed: 32%, 2 Bed: 54%, 3+ Bed: 14% per week. In % of homes were fully owned and 37% rented. House Unit Vacant Land House Unit Land TOP PROJECTS 2016 BASED ON ESTIMATED VALUE Project Title Brief Project Description Estimated Value** Commencement Completion Loganlea Road Mixed Use Development Stages 2-6 Meadowbrook Proposed construction of 196 units in 10 separate buildings. $80.0M 19/12/ /06/2019 Diamond Springs Over 50 s Lifestyle Resort Eagleby Staged construction of 420 homes and clubhouse. $60.0M 3/12/ /06/2020 Flagstone City Subdivision Stages 2-5 Undullah Reconfiguration into 1592 residential lots and school. $55.7M 03/12/ /06/2020 Wembley Road Townhouses Browns Plains Reconfiguration into 15 residential lots & townhouse lots. $35.0M 20/10/ /11/2018 Teviot Brook Master Planned Community Jimboomba Preposed rezoning allowing for future precinct developments. $30.0M 3/12/ /05/2020 Flesser Road Over 50 s Lifestyle Village Chambers Flat Staged development of Relocatable Home Park to provide over 50s lifestyle village. $30.0M 17/10/ /08/2017 Pheasant Avenue Over 50s Retirement Facility Beenleigh Proposed development of 50 units and renovation of swimming pool. $30.0M 18/10/ /05/2018 Loganlea Road Mixed Used Development Stage 1 Meadowbrook Proposed construction of mixed use development including retail space and 68 units. $25.0M 10/11/ /01/2018 Logan Reserve Road Residential Subdivision Stages 1-14 Logan Reserve Proposed reconfiguration into 542 lots. $25.0M 3/10/ /12/2019 Disclaimer: * for 2016 captures sales up to and inclusive of 31 st March 2016 (end of Q1 2016) **Project Development spending is based on aggregate of estimated land and construction value for residential, commercial, and infrastructure construction commencing in 2016 Source: APM finder, Queensland Department of State Development, Infrastructure and Planning, Cordell Database, Real Estate Institute of Queensland

19 REDLAND KEY MARKET INDICATORS Change from Last House sales Half *IMAGE* 6.5cm HIGH 10.6cm WIDE House median House rents Unit sales Unit median Unit rents 15 MONTHS TOP PERFORMERS Redland Area Type & 2016** Annual Growth * 2017* Main * Inner Ormiston House $572,000 $639, % $9.4M $2.5M Thornlands House $525,000 $567, % $153.8M $0.5M Cleveland House $524,000 $560, % $178.0M $20.8M Wellington Street Residential Subdivision ($2.0M), Sturgeon Street Townhouses ($2.0M) Woodland Drive Commercial Complex & Subdivision ($30.0M), Paradise Gardens Retail & Residential Mixed Use Development Master Plan ($30.0M) Redland Mater Private Hospital Expansion ($30.0M), Shore Street Apartment Building ($18.0M) Northern Alexandra Hills House $412,000 $425, % $31.1M $1.5M Alexandra Hills Hotel Alterations & Additions ($15.0M), Finucane Road Units ($6.5M) Alexandra Alexandra Hills Hotel Alterations & Hills Unit $309,000 $329, % $31.1M $1.5M Additions ($15.0M), Finucane Road Units ($6.5M) Dr Diaswati Mardiasmo PRDnationwide National Research Manager Birkdale House $492,000 $512, % $38.0M $1.8M Valantine Road Townhouses ($7.5M), Birkdale Road Units ($6.0M) Southern Western Wellington Point Victoria Point Redland Bay House $550,000 $565, % $21.0M $1.2M House $475,000 $505, % $57.3M $23.7M House $505,000 $520, % $297.4M $6.5M Capalaba Unit $338,000 $360, % $52.5M $4.0M Horizon Vista Townhouse Development ($8.0M), Wellington Point Medical Centre ($4.0M) Victoria Point Shopping Centre ($15.0M), Renaissance Retirement Village ($13.0M) Shoreline Redlands Master Plan ($200.0M), Hamilton Street Mixed Use Development ($25.0M) Holland Crescent Townhouses ($12.0M), Rhodes Residential Units ($6.5M) Disclaimer: *Project Development spending is based on aggregate of estimated land and construction value for residential, commercial, and infrastructure construction commencing between 2015 and 2016; and for 2017 ** for captures sales from 1 st January 2015 and up to and inclusive of 31 st March 2016 (end of Q1 2016). Source: APM finder, Queensland Department of State Development, Infrastructure and Planning, Cordell Database, Real Estate Institute of Queensland

20 REDLAND MEDIAN HOUSE PRICE MAP 2016* LEGEND DATA NOT AVAILABLE < $400,000 $400,000 - $600,000 $600,000 - $800,000 $800,000 - $1,000,000 > $1,000,000 MOST EXPENSIVE SUBURBS House Sheldon $807, % Ormiston $650, % Thornlands $567, % MOST AFFORDABLE SUBURBS House Dunwich $300, % Macleay Island Russell Island $230, % $168, % Disclaimer: * price quoted captures sales from 1 st January 2015 to 31 st March 2016 **Project Development spending is based on aggregate land and construction value as provided by the relevant data authority and does not include commercial/re-sale value Source: APM finder, Real Estate Institute of Queensland, Australian Bureau of Statistics, ESRI, Cordell Database, QLD Department of State Development, Infrastructure, and Planning

21 Number Of Sales REDLANDS CITY LGA PROPERTY GROWTH $600,000 Rent : $495 : +2.6% Average Days on Market $500,000 : 47 Bedroom Breakdown: 2 Bed: 17%, 3 Bed: 46%, $400, Bed: 38% KEY FACTS UNIT $200,000 KEY 1000 FACTS Rent : $400 Interest in Surfers Paradise property market is recorded at an average : +5.4% of $100,000 visits per property, on par with average regional QLD of 48. Home Average Days on Market: 36 loan affordability is widely spread, between $1000-$3000+ per month. Bedroom Breakdown: 0affordability sit within mid-high end of the market at $275-$449 $0 1 Bed: 32%, 2 Bed: 54%, 3+ Bed: 14% per week. In % of homes were 2013 fully owned and % rented * House Unit Vacant Land House Unit Land $300,000 TOP PROJECTS 2016 BASED ON ESTIMATED VALUE Project Title Brief Project Description Estimated Value** Commence Completion Shoreline Redlands Master Plan Woodland Drive Commercial Complex & Subdivision Paradise Gardens Retail & Residential Mixed Use Development Master Plan Redland Mater Private Hospital Expansion Rachow Street Townhouses Stages 1-13 Hamilton Street Mixed Used Development Stages 1-3 Redland Bay Leisure Life Stages 1B & 1C Victoria Point Shopping Centre Stage 5 Redland Bay Thornlands Thornlands Cleveland Thornlands Redland Bay Redland Bay Victoria Point Preliminary rezoning to allow for future mixed development. $200.0M 3/12/ /08/2020 Development for neighbourhood centre, open space and residential use. Rezoning to allow for future staged construction of master planned mixed use retail & residential development. Construction of new 5 storey building with inpatient services and support facilities. Proposed construction of 167 townhouses in 38 separate buildings. $30.0M 15/06/ /01/2017 $30.0M 10/10/ /10/2018 $30.0M 2/05/ /03/2017 $25.0M 3/12/ /12/2019 Proposed construction of mixed use development with 43 units. $25.0M 10/11/ /10/2019 Construction of 92 units. Expansion to existing shopping centre including additional shops and car parks. $20.0M 10/11/ /10/18 $15.0M 1/10/ /08/2017 Disclaimer: * for 2016 captures sales up to and inclusive of 31 st March 2016 (end of Q1 2016) **Project Development spending is based on aggregate of estimated land and construction value for residential, commercial, and infrastructure construction commencing in 2016 Source: APM finder, Queensland Department of State Development, Infrastructure and Planning, Cordell Database, Real Estate Institute of Queensland

22 GOLD COAST KEY MARKET INDICATORS Change from Last House sales Half *IMAGE* 6.5cm HIGH 10.6cm WIDE House median House rents Unit sales Unit median Unit rents 15 MONTHS TOP PERFORMERS Gold Coast Area Type & 2016** Annual Growth * 2017* Main * Northern Biggera Waters House $590,000 $652, % $145.9M $71.8M East Quay Drive Units ($75.0M), Waterpoint Residences ($30.0M) Coomera House $410,050 $455, % $678.3M $1.0B Helensvale House $495,000 $550, % $945.8M $412.5M Helensvale Unit $373,000 $410, % $945.8M $412.5M Coomera Unit $255,900 $256, % $678.3M $1.0B Coomera Town Centre North ($400.0M), Coomera Interchange Exit 54 ($74.7M) Gold Coast Light Rail Stage 2 ($700.0M), Coomera to Helensvale Duplication Project ($163.0M) Gold Coast Light Rail Stage 2 ($700.0M), Coomera to Helensvale Duplication Project ($163.0M) Coomera Town Centre North ($400.0M), Coomera Interchange Exit 54 ($74.7M) Southern Hope Island Unit $370,000 $415, % $241.8M $178.0M Dr Diaswati Gateway Mardiasmo Units ($45.0M), Canal Front Residential Development ($40.0M) PRDnationwide National Research Manager Palm Beach House $570,050 $660, % $79.5M $103.8M Pavilion Palm Beach Mixed Use Development ($35.0M), Gold Coast Highway Towers ($25.0M) Robina House $535,000 $610, % $140.7M $265.M Bilinga Unit $404,500 $492, % $699.3M $5.0M Cambirdge Residences ($35.0M), The Glades Resort Hotel & Apartment ($35.0M) Gold Coast Light Rail Stage 3 ($500.0M), Gold Coast Airport Project Lift ($150.0M) Coolangatta Unit $400,000 $470, % $81.9M $15.0M Tayside Kirra Mixed Use Development ($30.0M), Kirra Beach Hotel Redevelopment ($25.0M) Disclaimer: *Project Development spending is based on aggregate of estimated land and construction value for residential, commercial, and infrastructure construction commencing between 2015 and 2016; and for 2017 ** for captures sales from 1 st January 2015 and up to and inclusive of 31 st March 2016 (end of Q1 2016). Photo Credit: Gold Coast from Bridge Entrance, courtesy of and with permission to reprint from Alexander Kennedy Junior Source: APM finder, Queensland Department of State Development, Infrastructure and Planning, Cordell Database, Real Estate Institute of Queensland

23 GOLD COAST MEDIAN HOUSE PRICE MAP 2016* LEGEND DATA NOT AVAILABLE < $400,000 $400,000 - $600,000 $600,000 - $800,000 $800,000 - $1,000,000 > $1,000,000 MOST EXPENSIVE SUBURBS House Mermaid Beach Surfers Paradise Clear Island Waters $1,225, % $1,230, % $980, % MOST AFFORDABLE SUBURBS House Nerang $412, % Lower Beechmont $382, % Springbrook $355, % Disclaimer: * price quoted captures sales from 1 st January 2015 to 31 st March 2016 Source: APM finder, Real Estate Institute of Queensland, Australian Bureau of Statistics, ESRI, Cordell Database, QLD Department of State Development, Infrastructure, and Planning

24 Number Of Sales GOLD COAST COUNCIL PROPERTY GROWTH KEY FACTS $700,000 Rent : $495 : +2.6% $600,000 Average Days on Market : 47 Bedroom Breakdown: $500,000 2 Bed: 17%, 3 Bed: 46%, 4+ Bed: 38% $400,000 KEY FACTS UNIT 2000 Rent : $400 Interest in Surfers Paradise property market is recorded at an average $100,000 : +5.4% of 49 visits per property, on par with average regional QLD of 48. Home Average Days on Market: 36 loan affordability 0 is widely spread, between $1000-$3000+ per month. $0 Bedroom Breakdown: affordability 2012sit within mid-high 2013end of the market 2014at $275-$ * 1 Bed: 32%, 2 Bed: 54%, 3+ Bed: 14% per week. In % of homes were fully owned and 37% rented. House Unit Vacant Land House Unit Land $300,000 $200,000 TOP PROJECTS 2016 BASED ON ESTIMATED VALUE Project Title Brief Project Description Estimated Value** Commencement Completion Gold Coast Light Rail Stage 2 Helensvale Design & construction of 7.3km extension of Gold Coast Light Rail. $700.0M 1/11/ /03/2018 Mariners Cove Mixed Use Development Main Beach Construction of extension to Junipers Casino & Hotel complex. $600.0M 3/12/ /12/2020 Gold Coast Light Rail Stage 3 Bilinga Proposed design & construction of extension of Gold Coast Light Rail. $500.0M 13/11/ /12/2018 Coomera Town Centre North Stage 1 Coomera Construction of major regional shopping centre as first stage of Coomera Town Centre $400.0M 3/10/ /05/2018 Jupiters Casino Hotel Tower Broadbeach Construction of 4 storey resort hotel with 221 hotel suites $345.0M 24/1/ /11/2017 Coomera to Helensvale Duplication Project Gold Coast Airport Project Lift Stage 1 The Qube Jubilee Broadbeach Mixed Development Helensvale Bilinga Broadbeach Duplication of the last section of track between Coomera and Helensvale. Construction of major redevelopment at southern end of airport. Construction of 40 storey mixed use apartment building including 202 apartments. $163.0M 13/03/ /12/2017 $150.0M 25/07/ /12/2017 $120.0M 10/08/ /04/ Albert Avenue Mixed Use Development Broadbeach Construction of 4 star mixed use development including two residential towers, retail, and offices $100.0M 30/09/ /06/2019 Disclaimer: * for 2016 captures sales up to and inclusive of 31 st March 2016 (end of Q1 2016) **Project Development spending is based on aggregate of estimated land and construction value for residential, commercial, and infrastructure construction commencing in 2016 Source: APM finder, Queensland Department of State Development, Infrastructure and Planning, Cordell Database, Real Estate Institute of Queensland

25 ABOUT PRDnationwide RESEARCH PRDnationwide s research division provides reliable, unbiased, and authoritative property research and consultancy to clients in metro and regional locations across Australia Our extensive research capability and specialised approach ensures our clients can make the most informed and financially sounds decisions about residential and commercial properties. OUR KNOWLEDGE Access to accurate and objective research is the foundation of all good property decisions As the first and only truly knowledge based property services company, PRDnationwide shares experience and knowledge to deliver innovative and effective solutions to our clients. We have a unique approach that integrates people, experience, systems and technology to create meaningful business connections We focus on understanding new issues impacting the property industry; such as the environment and sustainability, the economy, demographic and psychographic shifts, commercial and residential design; and forecast future implications around such issues based on historical data and fact. OUR PEOPLE Our research team is made up of highly qualified researchers who focus solely on property analysis Skilled in deriving macro and micro quantitative information from multiple credible sources, we partner with clients to provide strategic advice and direction regarding property and market performance. We have the added advantage of sourcing valuable and factual qualitative market research in order to ensure our solutions are the most well considered and financially viable. Our experts are highly sought after consultants for both corporate and AREA government XXXXXX bodies and their advice has AREA helped steer XXXXXX the direction of a number of property developments and secured successful outcomes for our clients. OUR SERVICES Our research services span over every suburb, LGA, and state within Australia; captured in a variety of standard and customized products We have the ability and systems to monitor market movements, demographic changes and property trends. We use our knowledge of market sizes, price structure and buyer profiles to identify opportunities for clients and provide market knowledge that is unbiased, thorough and reliable. OUR SERVICES INCLUDE: Advisory and consultancy Market Analysis including profiling and trends Primary qualitative and quantitative research Demographic and target market Analysis Geographic information mapping Project Analysis including product and pricing recommendations and investment return analysis Dr Diaswati Mardiasmo National Research Manager Doggett Street, Newstead Queensland 4006, Australia T F M E astimardiasmo@prd.com.au 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

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