OUTLOOK OUTLOOK INSIGHTS AUGUST 2015 NORTH RYDE...19 20 B B 31 24 33 6 27 30 35 15 SYDNEY CBD (20MIN) 7 11 4 29 SYDNEY OLYMPIC PARK (25MIN) Retail & Entertainment Education 2 3 5 4

North Ryde accommodates all three of the Urbis economics and research fundamentals that make a sustainable suburb – Population, Infrastructure and Employment.

1 POP 2 INF 3 EMP

MACQUARIE CENTRE

NORTH RYDE TRAIN STATION MACQUARIE UNIVERSITY HOSPITAL

THE NORTH WEST RAIL LINK WILL FURTHER IMPROVE THE ALREADY STRONG ACCESSIBILITY

THE MACQUARIE CENTRE PROVIDES EXCELLENT RETAIL AND RECREATION AMENITY

THE MACQUARIE UNIVERSITY HOSPITAL PROVIDES EXCELLENT HEALTH SERVICES TO RESIDENTS

OUTLOOK NORTH RYDE

A CONTEXT ON BUSINESS, CULTURE, LIFESTYLE AND RESIDENTIAL

North Ryde is an emerging apartment market that has been classified as a Priority Precinct by the NSW Government.

STRATEGIC LOCATIONGood public transport accessibility to several major centres.

INFRASTRUCTURE INVESTMENTOver $12 billion of infrastructure investment in the region.

EMPLOYMENT GROWTHRyde LGA forecast to accommodate an additional 40,100 new jobs by 2041.

POPULATION GROWTHRyde LGA is projected to grow by 2,280 residents per year over the next 20 years.

DEMOGRAPHICS North Ryde has a well-educated and affluent population.

SALES PRICE GROWTHMedian apartment price growth of 8% per annum in the last five years

RENTAL GROWTHMedian two bedroom unit rental growth of 6.1% per annum in the last decade.

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OUTLOOK INSIGHTS – AUGUST 2015

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2 URBIS MARKET OUTLOOK - CENTRALE NORTH RYDE© URBIS.COM.AU

POPULATION 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.

INFRASTRUCTURE 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.

EMPLOYMENTProximityand 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.

EMPLOYME

NT P

OP

ULATION

INFRASTRUCTURE

IP E

POPULATION, INFRASTRUCTURE & EMPLOYMENT

Residential property assets are a long term investment, with value underpinned by key fundamentals.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.

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.

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.

Long-term value growth will be the most important motivator for buyers

moving forward

NSW GOVERNMENT PRIORITY PRECINCTSThe 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:

• North Ryde Station: 3,000 dwellings and 1,500 jobs within a 10 minute walk of North Ryde Station.

• Herring Road, Macquarie Park: Up to 5,400 dwellings by 2031.

• Epping Town Centre: 3,750 dwellings within a 10 minute walk of Epping Station.

© URBIS.COM.AUURBIS MARKET OUTLOOK - CENTRALE NORTH RYDE 3

Sydney will continue to see population growth close to 80,000 per annum over the next 20 years.

Generation Y will be the largest population cohort to enter the housing market, with this group anticipated to experience growth in demand from 2016.

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.

METROPOLITAN SYDNEY RESIDENTIAL DRIVERS

SYDNEY POPULATION GROWTH STILL GROWING – OVER 1,500 NEW RESIDENTS PER WEEK

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.

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.

SHIFTING DEMOGRAPHICS FOCUS ON THE BIGGEST MARKETS – GEN Y

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:

• 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.

SYDNEY POPULATION GROWTH

AGE DISTRIBUTION IN METROPOLITAN SYDNEY

Source: Urbis; Australian Bureau of Statistics 2013; NSW Planning and Environment 2014

Source: Urbis; NSW Planning and Environment 2014

3,000,000

3,500,000

4,000,000

4,500,000

5,000,000

5,500,000

6,000,000

6,500,000

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

2026

2027

2028

2029

2030

2031

POPU

LATI

ON

ACTUAL POPULATION 1,530 NEW RESIDENTS PER WEEK

50,000 100,000 150,000 200,000 250,000 300,000 350,000 400,000 450,000

Gen A 0-4

Gen Z 5-9

Gen Z 10-14

Gen Y 15-19

Gen Y 20-24

Gen Y 25-29

Gen Y 30-34

Gen X 35-39

Gen X 40-44

Gen X 45-49

Boomers 50-54

Boomers 55-59

Boomers 60-64

Boomers 65-69

TG 70-74

TG 75-79

TG 80-84

TG aged 85+

NUMBER OF RESIDENTS

GEN

ERA

TIO

NS

RESIDENTS IN 2011 GROWTH IN RESIDENTS TO 2016

LARGEST MARKETEmployment ProximityCivic MindedMaintain Social NetworksDiversity is Key

BABY BOOMERSMore DownsizingLow Maintenance LivingLifestyle OrientatedAmenity Rich Locations

EPPI

NG

RO

AD

M2 MOTO

RWAY

2 3

17

28

23

B

B

B

B

B

37

B

T

CHATSWOOD (5MINS)

B

B

32

109

26

221413215

ST LEONARDS (10MIN)NORTH SYDNEY (16MIN)

1.0KM

36

3.0KM

18

3.0KM

16

2.3KM

1

NORWEST BUSINESS PARK (20MIN)

8

1.0KM

B

PARRAMATTA (25MIN)

12

MACQUARIE PARK (4MIN)

B

B


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.

North Ryde is located approximately 13km north-west of the Sydney CBD and boasts a high level of amenity and social infrastructure.

Macquarie Park is located approximately 3km from North Ryde and includes Macquarie University, Macquarie Shopping Centre and Macquarie Park Business Precinct

25

19 20

BB

31

24

33

6

27

30

35

15

SYDNEY CBD (20MIN)

7

11

4

29

SYDNEY OLYMPIC PARK (25MIN)

Reta

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Ent

erta

inm

ent

Educ

atio

n

2

3

5

4

6

1 Macquarie Shopping Centre

Westfield Chatswood

Chatswood Chase Shopping Centre

Top Ryde Shopping Centre

Home HQ Homemaker Centre

North Ryde RSL

8

9

11

10

12

7 Ryde East Public School

North Ryde Public School

Mowbray Public School

Lane Cove West Public School

Ryde Secondary College

Chatswood High School

North Sydney Boys High School

North Sydney Girls High School

Saint Ignatius College Riverview

Macquarie University

UTS Kuring-gai

14

15

17

16

13

Hea

lth

19

20

22

21

18 Macquarie University Hospital

Macquarie Hospital

Ryde Hospital

Royal North Shore Hospital

Mater North Sydney Hospital

Park

s and

Rec

reat

ion

24

25

27

26

23 Lane Cove National Park

Magdala Park

Bleinheim Park

Rotary Athletics Field

Boobajool Reserve

Chatswood Golf Club

North Ryde Golf Club

Lane Cove River

Nundah Reserve

Yinnell Reserve

North Ryde Park

29

28

31

30

32

33

35

36

37

34 Riverside Corporate Park

Lane Cove West Business Park

Macquarie Park Business Precinct

Macquarie Park Cemetery

Oth

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Train

Bus

1.4KM

3.5KM

2.0KM

1.0KM


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.

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.

LOCATION &ACCESSIBILITY

Image is a artists impression and indicative only. Distances are approximate

NORTH WEST RAIL LINK $8.3 BILLIONThe 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.

LACHLAN’S LINE

$150 MILLIONLachlan’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.


INFRASTRUCTURE & INVESTMENT

Over $12.7 Billion in infrastructure investment to benefit the region

NORTHCONNEX $2.65 BILLIONThe 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.

M2 MOTORWAY UPGRADE $600 MILLIONThe 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.

NORTH RYDE STATION PRECINCT

$500 MILLIONA 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.

MACQUARIE SHOPPING CENTRE EXTENSION

$440 MILLIONThe 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.


EMPLOYMENTGROWTH

The Ryde LGA is expected to provide upward of 40,000 new jobs by 2041

PROXIMITY TO GROWING EMPLOYMENT CENTRESThe 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.

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.

26,500 NEW JOBSNORWEST BUSINESS PARK

24,000 NEW JOBS

MACQUARIE PARK, BUSINESS PARK

33,400 NEW JOBSPARRAMATTA

7,300 NEW JOBSCHATSWOOD

12,900 NEW JOBSST LEONARDS

15,000 NEW JOBSNORTH SYDNEY

130,500 NEW JOBSSYDNEY CBD

8,700 NEW JOBSSYDENY OLYMPIC PARK

NEW JOBS BY 2041EMPLOYMENT GROWTH WITHIN THE SURROUNDING CENTRES

Source: NSW Bureau of Transport Statistics (2014)


North Ryde and the wider Ryde LGA are projected to record significant

population growth

POPULATIONGROWTH

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.

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.

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.

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.

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.

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.

CATCHMENT POPULATION GROWTH


-

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

45,000

50,000

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

2026

2027

2028

2029

2030

2031

POPU

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ON

ACTUAL POPULATION 1,145 NEW RESIDENTS PER YEAR

RYDE POPULATION GROWTH


60,000

80,000

100,000

120,000

140,000

160,000

180,000

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

2026

2027

2028

2029

2030

2031

POPU

LATI

ON

ACTUAL POPULATION 2,280 NEW RESIDENTS PER YEAR

0 2 4 6 8 10 12

Gen A 0-4

Gen Z 5-9

Gen Z 10-14

Gen Y 15-19

Gen Y 20-24

Gen Y 25-29

Gen Y 30-34

Gen X 35-39

Gen X 40-44

Gen X 45-49

Boomers 50-54

Boomers 55-59

Boomers 60-64

Boomers 65-69

TG 70-74

TG 75-79

TG 80-84

TG aged 85+

NUMBER OF RESIDENTS (%)

GEN

ERA

TIO

NS

METROPOLITAN SYDNEY NORTH RYDE CATCHMENT

AGE DISTRIBUTION CATCHMENT

Source: Australian Bureau of Statistics 2011, Urbis

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.

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).

The North Ryde Catchment is affluent with average incomes above 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.

Well educated white collar residents account for a higher proportion of the North Ryde Catchment compared to the Sydney average.


DEMOGRAPHICSNorth Ryde is an affluent area with a high proportion of well-educated and professional workers

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.

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.

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.

HOUSEHOLD INCOME ABOVE $130,000 INCOME

WHO LIVES IN NORTH RYDENORTH RYDE CATCHMENT

SYDNEY

38

65%

46%

84%

38%

$102,323

37

73%

36%

74%

24%

$94,428

AVERAGE AGE OF RESIDENTS

FAMILY HOUSEHOLDS

BORN OVERSEAS

EMPLOYED IN WHITE COLLAR JOBS

BACHELOR DEGREE OR HIGHER

AVERAGE HOUSEHOLD INCOME

32% 26%

Source: Australian Bureau of Statistics 2011

MEDIAN INCOME


13%

33%

10%

8%

18%

9%

3%

5%

14%

26%

12%

9%

16%

9%

6%

7%

0% 5% 10% 15% 20% 25% 30% 35% 40%

MANAGERS

PROFESSIONALS

TECHNICIANS & TRADES WORKERS

COMMUNITY & PERSONAL SERVICE WORKERS

CLERICAL & ADMINISTRATIVE WORKERS

SALES WORKERS

MACHINERY OPERATORS& DRIVERS

LABOURERS

SHARE OF POPULATION (%)

SYDNEY NORTH RYDE CATCHMENT

EMPLOYED RESIDENTS BY OCCUPATION, 2011


$65,179

$87,974

$102,323

$57,921

$76,651

$94,428

$0

$20,000

$40,000

$60,000

$80,000

$100,000

$120,000

2001 2006 2011

MED

IAN

INC

OM

E ($

)

North Ryde Catchment Sydney

RENTALWhile 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%.


North Ryde has recorded strong price growth over the last five years

INVESTMENT MARKET

APARTMENT MARKETDuring 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.

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.

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.

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.

373

7

2015 2016 2017

1,430

2019

164

2020

1,690

0

2018

FUTURE APARTMENT DEVELOPMENT IN THE CATCHMENT NUMBER OF DWELLINGS PER YEAR

Source: Cordell Connect

CATCHMENT APARTMENT SALES CYCLE

Source: RPData, Urbis

$0

$100,000

$200,000

$300,000

$400,000

$500,000

$600,000

$700,000

0

50

100

150

200

250

300

350

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

MED

IAN

SA

LE P

RIC

E

NU

MBE

R O

F SA

LES

NUMBER OF SALES MEDIAN SALE PRICES

MEDIAN PRICE GROWTH - 5 YEAR

NORTH RYDE CATCHMENT

SYDNEY

8% 7%

NORTH RYDE CATCHMENT

SYDNEY

10% 9%

Source: RPData

NEW PRODUCT VERSUS EXISTING PRODUCT

Source: Housing NSW, Urbis

$420 $440

$528

$620

$0

$100

$200

$300

$400

$500

$600

$700

1 BED 2 BED

CATCHMENT - EXISTING PRODUCTCATCHMENT – NEW PRODUCT


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.

10km

5km

LINDFIELDCIRCA $1,090,000 TO $1,320,000

CENTRALE CIRCA $770,000 TO $900,000

CHATSWOODCIRCA $1,225,000 TO $1,500,000

ST LEONARDSCIRCA $930,000 TO $1,12,000

RHODESCIRCA $860,000 TO $970,000

MEADOWBANKCIRCA $840,000 TO $1,050,000

EPPINGCIRCA $830,000 TO $940,000

MACQARIE PARKCIRCA $790,000 TO $980,000

SYDNEY CBD

INDICATIVE AVERAGE PRICE – NEW 2 BED, 2 BATH, 1 CAR APARTMENTS

Source: Australand, Urbis

Note: The prices are indicative only. 2015 off-the-plan sales for 2 bedroom, 2 bathroom apartments with 1 car space

$0

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

$1,600,000

CENTR

ALE

MACQUARIE

PARK

EPPIN

G

MEA

DOWBA

NK

RHODES

ST LE

ONARDS

LINDFIE

LD

CHATSW

OOD

PRICE RANGE FOR NEW TWO BEDROOM STOCK

Sydney

Tower 2, Level 23, Darling Park 201 Sussex Street

Sydney, NSW 2000 02 8233 9900

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.

SPE0

505

OUTLOOK OUTLOOK INSIGHTS AUGUST 2015 NORTH RYDE...19 20 B B 31 24 33 6 27 30 35 15 SYDNEY CBD (20MIN) 7 11 4 29 SYDNEY OLYMPIC PARK (25MIN) Retail & Entertainment Education 2 3 5 4

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