PROPERTY FACTSHEET PROPERTY WATCH REPORT GOLD COAST Surfers Paradise Fourth Quarter 2013 YARRABILBA - LOGAN 2 nd HALF 2016
ABOUT Yarrabilba is nestled within a spectacular landscape with wide open spaces, lush bushland and landscaped parks and gardens as far as the eye can see. The Yarrabilba master planned community is located 40km south east of the Brisbane CBD, 35km north west of Southport and approximately 20 minutes from Logan Central. By 2041, it is expected that Yarrabilba will be home to over 45,000 people, supplying the area with approximately 17,000 residential dwellings in addition to a town centre and various education and employment facilities. Located on 2,012 hectares of land, over 25% of the site will be dedicated to open spaces, including environmental corridors, bushland reserves, parks, landscaped areas and playing fields. Yarrabilba will become a walkable community, with extensive pedestrian and cycle path networks planned. Residents will enjoy extensive infrastructure within the community including district and neighbourhood shopping centres, and a total of 11 public and private schools. The Yarrabilba master planned community will focus on employment for the area, with an emphasis on the creation of early on-site jobs. The community will host a 100+Ha Industry and Business area supporting a range of service and light industry uses, as well as a Town Centre catering for up to 80,000sqm of retail floor space. This ensures Yarrabilba as a self-sufficient market with high level of economic activity. MARKET SUMMARY The Yarrabilba property market has newly emerged in the Logan LGA market within the past three years, and has showcased a positive growth trend. The Yarrabilba house market performed exceedingly, experiencing high growth in 2016* with median house prices increasing to $406,400 and reflecting 2.9% annual growth. This is higher that Logan LGA s house price growth of 2.2%. House rental yields in Yarrabilba currently sit at 5.1%, which is higher than both Logan LGA and Brisbane Metro at 4.9% and 3.9% respectively. This is good news for astute investors. 10 YEAR HOUSE SALES CYCLE* OVERVIEW Unum scessu quam tuam obus, diissero pubi senatia Scia Ifecons cerehen iamditilnem nonde concust erunique rehem am Romnenterdiu menatque cae crum convess essenti lnerfec tamenem popteridena, quit. Wollongong Calderwood Valley Shellharbour Omnesicia Alari sultorunum num es iussuli befactem fac vir ina, que perid nes nero prit. Maiost iaes hi, conicae KEY trati, ta MARKET ret; iaete orununt INDICATORS iliissendam. iussuli befactem fac vir ina, que perid Dierum omperena, peremei ilissenhalf Change from Last Year terraed emendies se ipior in tam pro. Year House sales House Prices House rents Land sales Land Prices Unit rents MARKET HIGHLIGHTS The median price for houses in Yarrabilba sits at $406,400 for the 2 nd half of 2016*, while median prices for vacant land is $184,750. House prices in Yarrabilba are higher than Logan LGA. *Note: 2016 and 2016 DEC data captures pricing of property sales up to and inclusive of 30 th September 2016 or end of Q3 2016. Sales volume has not been included in the Sales Cycle graph due to incomplete half-yearly results Source: APM PriceFinder, Logan City Council, Brisbane City Council, Real Estate Institute of Queensland, Corelogic RPData, SQM Research Year on year average capital growth in the Yarrabilba property market has increased in comparison to 2015, recording 2.9% for houses and 6.0% for land in 2016*. The rental market is promising, with median rent figures for homes rising over the 2015-2016* period. House rental yield in Logan LGA is 4.9%, higher than Brisbane Metro s 3.9%. High levels of development due to commence construction in 2016-2018 Heading will increase economic activity in the area and increase residential demand.
In 2016 the Yarrabilba house and land market price growth is 2.9% and 6.0% respectively, outperforming Brisbane Metro (0.5% and 5.3% respectively) 10 YEAR LAND SALES CYCLE* HOUSE AVERAGE DAYS ON MARKET YEAR ON YEAR GROWTH HOUSE PRICE POINTS HOUSEHOLD COMPOSITION KEY IMPLICATIONS Average days on market for houses in Yarrabilba declined by 18.2% to 81 days over the twelve months to Q3 2016. Logan LGA s and Brisbane Metro s also declined, however by a smaller percent of 16.1% and 15.1% respectively. This suggests a higher level of demand and competition in the Yarrabilba market. House prices in Logan LGA grew by 2.2% between 2015-2016, whereas land prices grew by 15.3%; signalling a very strong land market. Historical low interest rates, higher Heading commercial activity, and new supporting infrastructure will ensure continued buoyant buyer activity and foster investment returns. *Note: 2016 DEC data captures pricing of land sales up to and inclusive of 30 th September 2016. Sales volume has not been included in the graph due to incomplete half-yearly results Source: Australian Bureau of Statistics, APM PriceFinder, Cordell Database, CoreLogic RPdata, Queensland Department of State Development, Infrastructure and Planning
4+ bedroom houses provide the highest return, with 6.5% annual rental growth INVESTMENT ANALYSIS ANNUAL RENTAL PERFORMANCE 2016 KEY COMMENTS In Yarrabilba, current returns indicate a yield of 5.1% for houses, which is higher than both the Brisbane Metro area (3.9%) and Logan LGA (4.9%). 4+ Bedroom houses have performed well in 2016, providing the highest average annual rental growth of 6.5%. Median rent for 4+ bedroom houses currently sits at $410 per week. Vacancy rates in both Yarrabilba (2.6%) and Logan LGA (2.1%) is lower than that of the Brisbane Metro area (2.8%). Yarrabilba vacancy rate is declining, which creates a conducive environment to ensure sustainable levels of investment returns in the future. RENTAL YIELD 2016 VACANCY RATES Suburb/Postcode/ LGA House Rental Yield Unit Rental Yield Average Rental Yield Yarrabilba 5.1% N/A 5.1% RENTAL YIELD COMPARISON Postcode 4207 4.7% 5.3% 5.4% Logan (LGA) 4.9% 5.8% 5.4% Brisbane Metro 3.9% 5.1% 4.5% RENTAL YIELD COMPARISON HOME OWNERSHIP BREAKDOWN MEDIAN INCOME COMPARISON Source: Australian Bureau of Statistics, APM PriceFinder, SQM Research, Corelogic RPdata, Queensland Department of State Development, Infrastructure and Planning, RTA
PROJECT DEVELOPMENT MAP 2014-2018* TOTAL PROJECT BREAKDOWN LOGAN LGA* Commercial Mixed Use Industrial Infrastructure $38 M Residential $233 M $70 M $7.2 M $731 M Estimated Commence Location Project Title Type Value*** Date 1 Cusack Lane Roadworks (From Henderson Road To Duncan Road) Infrastructure $7,500,000 26/05/2014 2 Mount Lindesay Highway & Camp Cable Road Intersection Upgrade Infrastructure $5,724,000 04/04/2016 3 Emmaus College Year 7 Flying Start Infrastructure $1,200,000 15/04/2014 4 Flagstone Village Service Station Infrastructure $800,000 08/10/2014 5 Darcy Edmunds Bridge Infrastructure $748,000 09/10/2015 6 Mount Lindesay Highway & Millstream Road Intersection Upgrade Infrastructure $500,000 10/08/2015 7 Jimboomba Shopping Centre Redevelopment Site 2 Commercial $25,000,000 02/12/2016 8 Riverbend Rural Residential Master Planned Community Remaining Stages Commercial $20,000,000 02/12/2016 9 East Street Aged Persons Accommodation Commercial $15,000,000 01/11/2018 10 Flagstone Village Shopping Village Expansion Commercial $10,000,000 11/08/2016 11 Cerina Circuit Retail Showrooms Commercial $3,500,000 20/06/2016 12 Reece Plumbing Centre Jimboomba Commercial $1,700,000 15/03/2015 13 Dan Murphys Jimboomba Commercial $1,300,000 11/08/2014 14 7 Eleven Service Station Commercial $900,000 13/07/2015 15 Yarrabilba Drive Service Station Commercial $900,000 01/07/2015 16 Cerina Circuit Food & Beverage Outlet Commercial $800,000 26/09/2016 17 Trade Tools N More Warehouse & Showroom Commercial $500,000 18/08/2016 18 Coles Supermarket Jimboomba Refurbishment Commercial $500,000 18/05/2016 *Disclaimer: Project development map showcases a sample of 2014-2018 projects. This is due to limited space available and accuracy of addresses provided by the data provider for geocoding purposes. For a full list of project development please contact PRDnationwide research **Total Project Breakdown Chart includes all projects in the Ipswich LGA commencing in 2016 regardless of the current stage in the development process ***Estimated value refers to construction and/or land value as reported by relevant data authority and does not represent commercial/re-sale value Source: Cordell Database, Queensland Department of State Development, Infrastructure and Planning, PRDnationwide, ESRI, DeLorne, HERE
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