MARCH QUARTER UP AND DOWN

Transcription

1 REIQ QUEENSLAND MARKET MONITOR ISSUE 30 MAR QTR 2016 your state-wide property research guide suburb by suburb QMM STATE-WIDE COMMENTARY MARCH QUARTER UP AND DOWN The March quarter has been slower throughout the state, although the overarching trends are continuing to hold steady, with small levels of growth in the southeast corner and more challenging conditions throughout much of regional Queensland. Looking at the quarterly data, Cairns, Townsville and Rockhampton felt the pinch in the March quarter with a drop in median house prices of 4.1 per cent, 8.3 per cent and 3.6 per cent respectively. These are the three biggest quarter-on-quarter drops in the state. Other regional centres, such as Gladstone, Mackay and Toowoomba experienced smaller drops of just 1.4 per cent, 1.9 per cent and 1.6 per cent respectively. Looking at the more reliable annual figures, we can see that the March quarter drop has pushed Townsville below where it was 12 months ago, down by 2.3 per cent. It is hoped that the infrastructure works program, along with the recently announced new stadium and the Singapore defence force movements will boost this local economy and help it through difficult conditions. >p2

2 REIQ RESEARCH EXPLANATORY NOTES S MARKET DATA All figures for the most recent quarterly and yearly periods are preliminary only and subject to further revision as additional sales records become available (see Research Methodology online at reiq.com). As of the June quarter 2013, all sales data includes "Recent Sales" as advised by real estate agents as well as official records as advised by DNRM. As such comparisons with figures published prior to the June quarter 2013 should be done with caution. A median sale price is derived by arranging a set of sale prices from lowest to highest and then selecting the middle value within this set (ie, the 50th percentile, where half of recorded sales were less and half were higher than the median). Only suburbs and regions to record sufficient sales numbers (at least 20 sales for the quarter) at the time of reporting are published. Median price changes are influenced by varying quality of properties sold. N/A Due to insufficient sales numbers (as at the time of data extraction) no median sale price has been calculated. N/D Not displayed due to price movements potentially driven by type of stock transacting. (LGA) Local Government Area Brisbane. (SD) Brisbane Statistical Division comprising the LGA s of Brisbane City, Ipswich City, Logan City, Moreton Bay Regional and Redland City. Sunshine Coast (SD) Sunshine Coast Region comprising the LGA's of Sunshine Coast Regional and Noosa. # Figures based upon the new council boundaries ^ Indicates acreage sales only (with land size greater than 2400m 2 ). All other data is based upon sales with a land size of less than 2400m 2 RENTAL MARKET DATA All median weekly rents are published on a postcode basis, as calculated by the Residential Tenancies Authority, where sufficient data is available. Caution should be exercised when interpreting any median rental price data based upon a relatively small number of new bond lodgements. Figures for the new LGA's available for the current quarter only. L Listed localities (or suburbs) represent one on potentially several that fall within that postcode. N.A. Due to insufficient new bond lodgements, no median rental price has been calculated ON THE MARKET INDICATORS At the time of publication, latest information available was for the 12 months ending the month prior to end of the quarter reporting period. "Days on Market" is calculated as the average number of days it has taken to sell those properties sold by private treaty sale during the 12 month period. The calculation excludes auction listings and listings where an asking price is not advertised. The days on market calculation uses the contract date on the property compared with the first advertised date. "Vendor Discount" is the average difference between the contract price on a property and the first advertised price. The figure is expressed as a percentage and is an average of all private treaty sales which sold for less than their initial asking price during the last 12 months. Auction listings, listings without an advertised asking price and properties sold at or above list price are excluded from the calculation. "Total Listings" is the total unique number of properties that have been advertised for sale and captured by RP Data over the 12 month period. To be included in the count, the listings have to be matched to an actual address. "% Stock on Market" is the percentage of dwellings within the suburb or local government area that have been listed for sale over the past year. Source: REIQ, data supplied by CoreLogic RP Data ( PRICE POINT GRAPHS Some data contained within these graphs represent preliminary sales numbers and are subject to revision as additional sales records become available. The data excludes any recent sales transactions where the contract sale price was not disclosed. The intention of these graphs is to gauge trends in sales activity between periods in lieu of actual final sales results and compare it with historical data.. Source: REIQ, data obtained from CoreLogic RPData GROSS RENTAL YIELDS House yields are based upon REIQ median house prices and RTA median weekly rent for three-bedroom houses. Unit yields are based upon REIQ median unit & townhouse sale prices and RTA median weekly rent for two-bedroom units. VACANCY RATES All figures are based upon all residential rentals as at the end of each quarterly period, as submitted by REIQ accredited agents. N/A Due to insufficient information received no vacancy rate has been calculated. Source: REIQ Residential Rental Survey Source: Residential Tenancies Authority, Rental Bond lodgements ( 2 QUEENSLAND MARKET MONITOR

3 REIQ TABLE OF CONTENTS Queensland market update 1 REIQ Explanatory notes 2 Brisbane market updates Brisbane City 8 Greater Brisbane 14 Regional market updates Gold Coast 20 Toowoomba 24 Sunshine Coast 26 Fraser Coast 30 Bundaberg 32 Gladstone 34 Rockhampton 36 Mackay 38 Townsville 40 STATE-WIDE SUMMARY STATE-WIDE COMMENTARY CONTINUED Keeping our focus on the 12-month figures, six out of 11 markets are still within positive territory. The Gold Coast, Brisbane LGA, Toowoomba, Sunshine Coast, Fraser Coast and Cairns are all recording higher median house prices than 12 months ago, which indicates these markets are well and truly on solid ground. The Bundaberg house market is just 1.8 per cent down on 12 months ago and Townsville has just edged into negative territory, now 2.3 per cent below its position 12 months ago. For Gladstone, Rockhampton and Mackay, their markets remain below the 12-month waterline and also below the five-year waterline. These figures highlight how fragile the recovery is in these markets and how challenged the regional Queensland markets continue to be. As this report was being produced, the State Government announced it would boost the first-home buyer s grant by $5000, but would continue to limit it to new construction only. The REIQ has voiced its disappointment in this measure, arguing that the regional economy desperately needs stimulus to buy established homes. >p4 Cairns 44 Other Regional 47 On The Market Indicators 48 Total Listings % Stock on Market Average Vendor Discount Average Days on Market Rental Market Indicators 50 Gross rental yields Residential vacancy rates Managing Editor: Felicity Moore T E. fmoore@reiq.com.au Research Analyst: Karina Salas T E. ksalas@reiq.com.au Graphic Designer: Holly Tape T E. htape@reiq.com.au Source: REIQ, data obtained from CoreLogic RPData The Real Estate Institute of Queensland Ltd. Copyright Turbo Drive, Coorparoo, PO Box 1555, Coorparoo DC Q 4151 Ph: (07) Fax: (07) research@reiq.com.au 3 QUEENSLAND MARKET MONITOR MARCH QUARTER

4 STATE-WIDE SUMMARY HOUSE MARKET The house market was slower this quarter and seven out of 11 markets contracted. The Brisbane LGA median house price fell 2.4 per cent this quarter, but the longer-range trends are still positive, with 6.1 per cent growth over 12 months and 17.9 per cent over five years. As forecast, the Townsville market has struggled this quarter and the impact of the nickel refinery shutdown is having an impact. Even the strongest performing regional areas of the Gold Coast, Toowoomba, the Sunshine Coast and Cairns have slowed in the March quarter. Toowoomba remains one per cent above this time last year and almost 20 per cent better than five years ago, which gives this market some breathing room. With major infrastructure projects going ahead, and the condition that the workforce be drawn from within a 70km radius of the project, this market is in a good position and should see continued moderate growth. The Sunshine Coast grew one per cent this quarter, and is up four per cent on 12 months ago and 9.1 per cent higher than five years ago. Again, solid infrastructure projects will help the house market continue its steady trajectory of sustained growth. The Gold Coast is buoyed by Commonwealth Games works and is expected to maintain small, steady growth into the short-term future. This market grew 0.5 per cent this quarter and is 5.8 per cent higher than 12 months ago and 10.2 per cent higher than five years ago. Cairns contracted this quarter, falling by 4.1 per cent, however it is 3.3 per cent higher than 12 months ago and 9.6 per cent higher than five years ago. With considerable infrastructure works and development activity under way in Cairns, our view is that this quarterly result does not foreshadow a broader trend. UNIT MARKET The overwhelming question on everyone s lips when talking about the apartment market is, Is Brisbane s apartment market in oversupply yet?. There is a significant level of apartment stock scheduled to reach the market in the latter half of 2016 and throughout 2017, however, some developers have reportedly held back projects and this will help smooth out supply levels. While the Brisbane apartment market contracted marginally, 0.9 per cent, it is still 1.2 per cent stronger than 12 months ago and 6.7 per cent stronger than five years ago. The inner city vacancy rate edged up slightly in the March quarter however, at 3.3 per cent remains within the healthy range and indicates demand for apartments and inner city living is steady. Throughout the rest of the state the apartment market was patchy. Small levels of growth this quarter for Toowoomba, Sunshine Coast, and Fraser Coast, were offset by falls in the Gold Coast, Bundaberg, Mackay, Townsville and Cairns. Rockhampton held reasonably steady, all things considered, falling just 0.2 per cent and still hanging onto positive territory in the five-year figures, at 10.6 per cent higher. Gladstone returned an unusual figure of 30.1 per cent growth, but this is a reflection of several factors, including very little activity in the December quarter, along with the type of stock being sold in the March quarter most likely more three-bedroom units compared with mostly twobed units in December. This data is not indicative of any market changes, but is rather, an outlier. Toowoomba was the star performer in the apartment market for the March report, with solid growth in the quarterly (2.4 per cent), annual (3.7 per cent) and fiveyear (26.5 per cent) figures. RENTAL MARKET Pressure on good rental accommodation on the Gold and Sunshine coasts has predictably pushed rents up, with the Gold Coast rising by around $20 a week this quarter across three-bedroom houses, two-bedroom units and three-bedroom townhouses. As with the sales markets, regional Queensland is seeing rents drop, with Gladstone being the hardest hit, dropping by $50 a week for a three-bed house, $60 a week for a twobed unit and $100 a week for a three-bed townhouse. Local agents are reporting that they are having very challenging conversations with landlords on how much to reduce rents by and whether to offer rental incentives. Mackay and Townsville were close behind, losing around $30 a week in Mackay on rents and $15- $20 a week in Townsville. The rental market is the most sensitive and very closely aligned to the jobs market. It is also the market that suffers the most when rates are low and people jump out of renting and into home ownership. QUEENSLAND HOUSE MARKETS March Qtr 2016 Gold Coast Sunshine Coast (SD) Brisbane (SD) RISING FALLING Cairns Fraser Coast Toowoomba STEADY RECOVERING Source: REIQ Based on the last 4 quarters median sale price change Sunshine Coast (SD) Gold Coast Toowoomba Cairns Brisbane (SD) STEADY RISING RECOVERING STABILISING QUEENSLAND UNITS MARKETS March Qtr 2016 Source: REIQ Based on the last 4 quarters median sale price change FALLING STEADY STABILISING Mackay Gladstone Rockhampton Townsville Bundaberg STEADY Mackay Rockhampton Gladstone Townsville Bundaberg Fraser Coast 4 QUEENSLAND MARKET MONITOR

5 STATE-WIDE SUMMARY MARCH QUARTER

6 STATE-WIDE SUMMARY HOUSES (<2400) UNITS & TOWNHOUSES VACANT LAND (<2400) LGA PRICE PRICE PRICE GREATER BRISBANE BRISBANE SD $480, % $395, % $225, % BRISBANE $620, % $431, % $362, % IPSWICH $321, % $237, % $191, % LOGAN $370, % $245, % $207, % MORETON BAY $415, % $310, % $235, % REDLAND $499, % $370, % N/D N/D TOURISM CENTRES GOLD COAST $557, % $375, % $239, % SUNSHINE COAST SD $515, % $385, % $242, % SUNSHINE COAST $510, % $370, % $230, % NOOSA $547, % $450, % N/A N/A FRASER COAST $295, % $254, % $145, % CAIRNS $386, % $223, % $200, % REGIONAL CENTRES BUNDABERG $276, % $246, % $148, % GLADSTONE $345, % $302, % N/A N/A MACKAY $332, % $220, % $175, % ROCKHAMPTON $270, % $264, % N/A N/A TOOWOOMBA $352, % $315, % $169, % TOWNSVILLE $330, % $260, % $167, % N/A: Not available due to insufficient sales numbers N/D: Not displayed due to price movements potentially driven by type of stock transacting ON THE MARKET" LGA TOTAL LISTINGS HOUSES (ALL) STOCK ON MARKET DAYS ON MARKET VENDOR DISCOUNT TOTAL LISTINGS UNITS (ALL) STOCK ON MARKET DAYS ON MARKET VENDOR DISCOUNT GREATER BRISBANE BRISBANE SD 44, % % 14, % % BRISBANE 19, % % 9, % % IPSWICH 4, % % % % LOGAN 6, % % 1, % % MORETON BAY 9, % % 2, % % REDLAND 4, % % % % TOURISM CENTRES GOLD COAST 10, % % 11, % % SUNSHINE COAST SD 8, % % 4, % % SUNSHINE COAST 6, % % 3, % % NOOSA 1, % % 1, % % FRASER COAST 3, % % % % CAIRNS 3, % % 2, % % REGIONAL QLD BUNDABERG 2, % % % % GLADSTONE 1, % % % % MACKAY 2, % % % % ROCKHAMPTON 2, % % % % TOOWOOMBA 4, % % % % TOWNSVILLE 4, % % 1, % % "All figures are for the 12months ending Feb-16 SD - Statistical Division: Brisbane SD (Brisbane, Ipswich, Logan, Moreton Bay & Redland); Sunshine Coast SD (Sunshine Coast & Noosa) 6 QUEENSLAND MARKET MONITOR

7 STATE-WIDE SUMMARY RENTAL TRENDS WEEKLY RENT GROSS RENTAL YIELDS LGA 3-BED HOUSE 2-BED FLAT 3-BED TOWNHOUSE HOUSES UNITS GREATER BRISBANE QUARTERLY TREND * change greater than $20 (rents) or 0.5 pts (yields) N/A Not Available QUARTERLY TREND QUARTERLY TREND QUARTERLY TREND BRISBANE $435 UP $410 UP $425 UP 3.6% STEADY 4.9% STEADY IPSWICH $310 UP $260 STEADY $320 UP 5.0% STEADY 5.7% UP* LOGAN $340 DOWN $270 STEADY $340 STEADY 4.8% STEADY 5.7% STEADY MORETON BAY $350 STEADY $285 UP $345 UP 4.4% STEADY 4.8% UP REDLAND $390 STEADY $350 UP $395 DOWN 4.1% STEADY 4.9% STEADY TOURISM CENTRES GOLD COAST $460 UP $395 UP $405 DOWN 4.3% STEADY 5.5% STEADY SUNSHINE COAST $430 UP $340 DOWN $410 UP 4.4% STEADY 4.8% STEADY NOOSA $450 STEADY $390 UP* $520 UP* 4.3% STEADY 4.5% STEADY FRASER COAST $290 STEADY $250 UP $310 DOWN* 5.1% STEADY 5.1% DOWN* CAIRNS $360 DOWN $290 STEADY $350 STEADY 4.8% STEADY 6.7% STEADY REGIONAL QLD BUNDABERG $280 STEADY $230 STEADY $285 DOWN 5.3% STEADY 4.9% STEADY GLADSTONE $250 DOWN $190 DOWN $250 DOWN* 3.8% STEADY 3.3% N/A MACKAY $285 UP $200 STEADY $300 UP 4.5% STEADY 4.7% UP* ROCKHAMPTON $295 UP $220 STEADY $340 UP* 5.7% STEADY 4.3% N/A TOOWOOMBA $300 STEADY $250 UP $330 UP 4.4% STEADY 4.1% STEADY TOWNSVILLE $310 STEADY $260 STEADY $340 UP* 4.9% STEADY 5.2% UP* QUARTERLY TREND FOR FULL ON THE MARKET AND RENTAL MARKET STATISTICS BY LOCAL GOVERNMENT AREA, SEE PAGE VACANCY RATES LGA/REGION MAR-16 TREND GREATER BRISBANE BRISBANE SD 2.6% STEADY BRISBANE 3.0% STEADY IPSWICH 1.8% DOWN LOGAN 2.1% DOWN MORETON BAY 2.2% STEADY REDLAND 1.7% STEADY TOURISM CENTRES GOLD COAST 1.5% UP SUNSHINE COAST SD 1.5% STEADY SUNSHINE COAST 1.5% STEADY NOOSA 1.4% UP FRASER COAST 3.2% DOWN CAIRNS 2.1% DOWN REGIONAL QLD BUNDABERG 5.2% UP GLADSTONE 11.3% UP MACKAY 8.1% DOWN ROCKHAMPTON 6.9% UP TOOWOOMBA 3.0% STEADY TOWNSVILLE 6.0% DOWN See page 50 for full vacancy rate data Subscribe to REIQ's research report & media releases: Keep up to date with the latest market information from the best source for real estate news in Queensland, the REIQ. Jordan Tindal to subscribe: jtindal@reiq.com.au. MARCH QUARTER

8 BRISBANE MARKET UPDATES BRISBANE CITY The March preliminary data reveals a small slip of 2.4 per cent in the quarterly median sale price for houses in Brisbane City (LGA), dropping to $620,000. This slip ends Brisbane s record 14 consecutive quarters of growth, although it doesn t necessarily represent a cooling of the market. The quarter-to-quarter data is volatile and relying on preliminary figures is not the most accurate picture of the real estate market. A more reliable data snapshot is the annualised figure, and this reveals a median sale price of $625,000, which is 6.1 per cent higher than 12 months ago. Brisbane s real estate market continues to attract interest from interstate and overseas investors. However, there was growing speculation that an oversupply in the innercity apartment market was on the horizon and moving closer. As the quarter came to a close news was revealed that some developers were holding back projects that had been approved. Some experts suggested up to a third of inner-city projects that had development approval was being held back. Time will tell how much this will impact on supply and demand market forces. The busiest price point for housing this quarter was the $500,000 - $1 million bracket, although volumes were down significantly on September 2015 and December 2015 quarters. The March quarter revealed just 1751 transactions in this price point, compared with 2797 last quarter and 2860 in the September quarter. HOUSE MARKET The small slip in Brisbane s quarterly median sale price, by 2.4 per cent, to $620,000 may be seen by some as a sign that the market is cooling. However, the REIQ is of the view that one swallow does not a summer make. In other words, one quarterly blip is not a trend and we will wait for the June quarter data to find more evidence of a trend. Some suburbs, such as Clayfield and Wilston, that edged their way into the million-dollar suburb list last quarter, have slipped out this quarter, and this is further evidence of the volatility of quarter-to-quarter data. Mainstay suburbs such as Hamilton, Hawthorne, Ascot, Brookfield, Highgate Hill, New Farm, St Lucia, Teneriffe, West End and Bulimba have all retained their positions as million-dollar suburbs. UNIT MARKET Brisbane s apartment market slipped slightly in volume and median sale price, dropping just 0.9 per cent in the median price, to $431,075 for the quarter, with 1724 transactions (compared with 1818 transactions last quarter). The top five busiest suburbs for unit sales were the CBD with 121 sales, Kangaroo Point with 50 sales, Toowong with 49 sales, Clayfield with 43 sales and New Farm with 42 sales. Local agents continue to report steady levels of interest and claim that reports of a cooling in the inner city apartment market are exaggerated. As it has been with the house market, units have been slightly quieter, although it s likely an effect of some negative gearing debate in the media, with politicians testing the waters and discussing potential changes to the negative gearing provisions, throughout the quarter. It wasn t until late April that the Labor Party formally announced a policy change on negative gearing, but the continued debate has made investors nervous. RENTAL MARKET The rental market in Brisbane has been busy, with volumes of new bonds up and rents holding steady. This market continues to be impacted by low interest rates and this often triggers a break-lease situation as a tenant in a rental property takes advantage of the affordable housing opportunities and low interest rates to get into the home ownership market. However, despite this pressure, the market is bearing up remarkably well. Compared with a year ago, bonds are up and rents are steady, or in some markets up marginally. Brisbane's real estate market continues to attract interest from interstate and overseas investors. 8 QUEENSLAND MARKET MONITOR

9 BRISBANE MARKET UPDATES S MARKET - HOUSES S MARKET - HOUSES (CONT D) S S BRISBANE (LGA) 2838 $620, % $625, % 17.9% $530,000 BRISBANE (LGA) ^ 70 $937, % $971, % -0.1% $972,500 ACACIA RIDGE 28 $393, % $370, % 12.8% $328,000 ALBION 7 N/A N/A $725, % 20.9% $600,000 ALDERLEY 13 N/A N/A $731, % 17.0% $625,000 ALGESTER 25 $483, % $490, % 18.2% $415,000 ANNERLEY 18 N/A N/A $665, % 11.8% $595,000 ASCOT 20 $1,100, % $1,250, % 14.7% $1,090,000 ASHGROVE 28 $940, % $855, % 23.9% $690,000 ASPLEY 36 $570, % $565, % 21.5% $465,000 AUCHENFLOWER 12 N/A N/A $883, % 9.9% $803,500 BALD HILLS 27 $410, % $405, % 5.6% $383,500 BALMORAL 8 N/A N/A $945, % 21.2% $780,000 BANYO 12 N/A N/A $505, % 18.8% $425,000 BARDON 29 $790, % $820, % 8.6% $755,000 BELLBOWRIE 17 N/A N/A $500, % 5.3% $475,000 BELMONT 5 N/A N/A $630, % 2.4% $615,000 BOONDALL 25 $450, % $457, % 8.9% $420,000 BRACKEN RIDGE 50 $480, % $455, % 9.8% $415,000 BRIDGEMAN DOWNS 26 $770, % $750, % 7.9% $695,000 BRIGHTON 35 $465, % $466, % 16.5% $400,000 BROOKFIELD ^ 3 N/A N/A $1,200, % 10.6% $1,085,000 BULIMBA 20 $1,225, % $1,217, % 31.6% $925,000 CALAMVALE 33 $639, % $627, % 24.3% $504,650 CAMP HILL 50 $800, % $771, % 20.0% $642,250 CANNON HILL 25 $760, % $730, % 30.9% $557,500 CARINA 25 $606, % $620, % 22.8% $505,000 CARINA HEIGHTS 7 N/A N/A $600, % 23.7% $485,000 CARINDALE 40 $815, % $810, % 16.5% $695,000 CARSELDINE 19 N/A N/A $583, % 14.5% $510,000 CHAPEL HILL 28 $767, % $739, % 13.8% $650,000 CHELMER 18 N/A N/A $985, % 9.4% $900,000 CHERMSIDE 9 N/A N/A $538, % 20.1% $448,000 CHERMSIDE WEST 17 N/A N/A $530, % 13.4% $467,500 CLAYFIELD 26 $855, % $980, % 5.1% $932,500 COOPERS PLAINS 15 N/A N/A $525, % 19.0% $441,250 COORPAROO 39 $822, % $815, % 22.6% $665,000 CORINDA 21 $643, % $648, % 10.1% $588,500 DARRA 13 N/A N/A $430, % 25.9% $341,500 DEAGON 15 N/A N/A $438, % 6.8% $410,000 DOOLANDELLA 13 N/A N/A $440, % 0.0% $440,000 DREWVALE 18 N/A N/A $543, % 11.6% $487,000 DURACK 11 N/A N/A $388, % 6.4% $365,000 EAST BRISBANE 17 N/A N/A $780, % 18.2% $660,000 EIGHT MILE PLAINS 28 $740, % $740, % 23.3% $600,000 ENOGGERA 8 N/A N/A $625, % 10.7% $564,500 EVERTON PARK 23 $575, % $555, % 11.0% $500,000 FAIRFIELD 7 N/A N/A $617, % 6.5% $580,000 FERNY GROVE 16 N/A N/A $538, % 9.2% $492,500 FIG TREE POCKET 10 N/A N/A $890, % 6.0% $839,500 FITZGIBBON 14 N/A N/A $430, % 3.6% $415,000 FOREST LAKE 93 $423, % $420, % 6.3% $395,000 GAYTHORNE 6 N/A N/A $605, % 34.4% $450,000 GEEBUNG 18 N/A N/A $495, % 13.8% $435,000 GORDON PARK 13 N/A N/A $745, % 26.8% $587,500 GRACEVILLE 15 N/A N/A $797, % 15.6% $690,000 GRANGE 13 N/A N/A $905, % 40.1% $646,000 GREENSLOPES 24 $765, % $732, % 25.2% $585,000 HAMILTON 7 N/A N/A $1,115, % 5.7% $1,055,000 HAWTHORNE 14 N/A N/A $1,055, % 42.0% $742,750 HEATHWOOD 7 N/A N/A $552, % 1.2% $546,000 HEMMANT 10 N/A N/A $432, % 1.8% $425,000 HENDRA 19 N/A N/A $950, % 18.8% $800,000 HIGHGATE HILL 7 N/A N/A $1,022, % 29.4% $790,000 HOLLAND PARK 24 $635, % $650, % 22.9% $529,000 HOLLAND PARK WEST 18 N/A N/A $670, % 15.5% $580,000 INALA 39 $350, % $340, % 15.3% $295,000 INDOOROOPILLY 18 N/A N/A $847, % 22.3% $692,500 JAMBOREE HEIGHTS 16 N/A N/A $442, % 7.9% $409,500 JINDALEE 15 N/A N/A $527, % 3.7% $508,500 KALINGA 7 N/A N/A $927, % 9.8% $845,000 KANGAROO POINT 6 N/A N/A $950, % 22.6% $775,000 KARANA DOWNS 6 N/A N/A $415, % 3.2% $402,500 KARANA DOWNS ^ 8 N/A N/A $526, % 9.9% $479,000 KEDRON 21 $630, % $612, % 12.2% $546,000 KELVIN GROVE 16 N/A N/A $723, % 11.3% $650,000 KENMORE 28 $640, % $620, % 12.8% $549,500 KENMORE HILLS 5 N/A N/A $757, % 12.4% $674,000 KEPERRA 29 $490, % $475, % 8.2% $439,500 KURABY 20 $599, % $625, % 18.5% $527,500 LOTA 16 N/A N/A $618, % 36.6% $452,500 LUTWYCHE 4 N/A N/A $785, % 32.5% $592,500 MACGREGOR 13 N/A N/A $750, % 40.2% $535,000 MACKENZIE 6 N/A N/A $755, % 16.2% $650,000 MANLY 24 $825, % $767, % 16.3% $660,000 MANLY WEST 54 $581, % $570, % 14.0% $500,000 MANSFIELD 26 $660, % $610, % 20.8% $504,800 MCDOWALL 15 N/A N/A $620, % 6.9% $580,000 MIDDLE PARK 14 N/A N/A $580, % 8.6% $534,000 MILTON 3 N/A N/A $820, % 19.7% $685,000 MITCHELTON 36 $640, % $621, % 18.8% $522,888 MOGGILL 19 N/A N/A $532, % 11.6% $477,000 MOOROOKA 33 $600, % $581, % 17.4% $495,000 MORNINGSIDE 15 N/A N/A $695, % 16.8% $595,000 MOUNT GRAVATT 10 N/A N/A $625, % 30.2% $480,000 MOUNT GRAVATT EAST 44 $564, % $590, % 24.9% $472,500 MOUNT OMMANEY 2 N/A N/A $822, % -0.9% $830,000 MURARRIE 12 N/A N/A $625, % 28.9% $485,000 NEW FARM 9 N/A N/A $1,500, % 26.6% $1,185,000 NEWMARKET 6 N/A N/A $790, % 10.5% $715,000 NORMAN PARK 21 $900, % $797, % 19.0% $670,000 NORTHGATE 13 N/A N/A $615, % 30.9% $470,000 NUDGEE 8 N/A N/A $560, % 14.2% $491,000 NUNDAH 20 $562, % $685, % 19.1% $575,000 OXLEY 25 $515, % $512, % 14.7% $447,000 PADDINGTON 28 $945, % $947, % 17.0% $810,000 PARKINSON 24 $632, % $621, % 18.4% $525,000 PULLENVALE ^ 11 N/A N/A $985, % -12.9% $1,131,250 RED HILL 19 N/A N/A $805, % 22.9% $655,000 RICHLANDS 3 N/A N/A $432, % 6.5% $405,500 RIVERHILLS 12 N/A N/A $455, % 3.6% $439,000 ROBERTSON 6 N/A N/A $918, % 35.0% $680,000 ROCHEDALE 8 N/A N/A $900, % 63.7% $550,000 ROCKLEA 7 N/A N/A $390, % 17.7% $331,250 RUNCORN 26 $500, % $525, % 22.1% $430,000 SALISBURY 22 $556, % $540, % 20.0% $450,000 SANDGATE 14 N/A N/A $608, % 15.3% $527,500 SEVEN HILLS 8 N/A N/A $742, % 24.3% $597,750 SEVENTEEN MILE ROCKS 4 N/A N/A $642, % 19.0% $540,000 SHERWOOD 13 N/A N/A $868, % 14.2% $760,000 SHORNCLIFFE 5 N/A N/A $677, % 4.2% $650,000 SINNAMON PARK 11 N/A N/A $609, % -3.3% $630,000 SPRING HILL 4 N/A N/A $905, % 13.1% $800,000 ST LUCIA 11 N/A N/A $1,050, % -3.7% $1,090,000 STAFFORD 19 N/A N/A $568, % 20.4% $472,500 STAFFORD HEIGHTS 29 $583, % $559, % 20.2% $465,000 STRETTON 12 N/A N/A $828, % 33.5% $620,000 SUNNYBANK 23 $741, % $724, % 34.3% $539,000 SUNNYBANK HILLS 32 $668, % $658, % 32.9% $495,000 TAIGUM 12 N/A N/A $476, % 7.0% $445,000 TARINGA 15 N/A N/A $890, % 30.9% $680,000 TARRAGINDI 33 $731, % $708, % 24.3% $570,000 TENERIFFE 2 N/A N/A $1,400, % 7.1% $1,307,500 TENNYSON 4 N/A N/A $645, % 11.7% $577,500 THE GAP 36 $615, % $620, % 12.7% $550,000 TINGALPA 28 $494, % $483, % 13.2% $427,000 TOOWONG 17 N/A N/A $771, % 13.4% $680,000 UPPER KEDRON 13 N/A N/A $605, % 12.1% $540,000 MARCH QUARTER

10 BRISBANE MARKET UPDATES S MARKET - HOUSES (CONT D) S MARKET - UNITS & TOWNHOUSES (CONT D) S S UPPER MOUNT GRAVATT 29 $649, % $600, % 27.7% $470,000 VIRGINIA 13 N/A N/A $546, % 26.7% $431,000 WAKERLEY 29 $715, % $715, % 16.3% $615,000 WAVELL HEIGHTS 44 $630, % $630, % 18.3% $532,500 WEST END 8 N/A N/A $1,075, % 36.9% $785,000 WESTLAKE 10 N/A N/A $635, % 1.8% $624,000 WILSTON 8 N/A N/A $974, % 14.6% $850,000 WINDSOR 16 N/A N/A $770, % 14.9% $670,000 WISHART 21 $684, % $678, % 29.1% $525,000 WOOLLOONGABBA 10 N/A N/A $780, % 18.2% $660,000 WOOLOOWIN 11 N/A N/A $790, % 22.4% $645,500 WYNNUM 53 $555, % $600, % 15.7% $518,750 WYNNUM WEST 37 $520, % $495, % 12.9% $438,500 YEERONGPILLY 6 N/A N/A $610, % -13.5% $705,000 YERONGA 5 N/A N/A $742, % 8.0% $687,500 ZILLMERE 29 $447, % $448, % 18.1% $379,500 S MARKET - UNITS & TOWNHOUSES BRISBANE (LGA) 1724 $431, % $440, % 6.7% $412,250 ACACIA RIDGE 5 N/A N/A $348, % -18.9% $429,000 ALBION 7 N/A N/A $442, % 1.0% $438,000 ALDERLEY 16 N/A N/A $442, % 10.6% $400,000 ALGESTER 9 N/A N/A $315, % -9.2% $347,000 ANNERLEY 23 $415, % $412, % 5.5% $391,000 ASCOT 13 N/A N/A $442, % 7.8% $410,000 ASHGROVE 12 N/A N/A $457, % 15.1% $397,500 ASPLEY 5 N/A N/A $387, % 5.5% $367,250 AUCHENFLOWER 21 $432, % $468, % 7.8% $435,000 BALMORAL 6 N/A N/A $520, % 11.4% $467,115 BANYO 2 N/A N/A $392, % -26.1% $531,500 BARDON 5 N/A N/A $559, % -6.7% $599,000 BOWEN HILLS 8 N/A N/A $429, % 1.9% $421,250 BRACKEN RIDGE 4 N/A N/A $350, % -2.0% $357,000 BRIDGEMAN DOWNS 7 N/A N/A $449, % 21.8% $369,500 BRISBANE CITY 121 $490, % $490, % 4.0% $471,000 BULIMBA 18 N/A N/A $599, % 10.9% $540,500 CALAMVALE 26 $395, % $395, % 7.6% $367,000 CAMP HILL 8 N/A N/A $443, % -2.5% $455,000 CANNON HILL 6 N/A N/A $440, % 0.7% $437,500 CARINA 21 $443, % $465, % 5.7% $440,000 CARINA HEIGHTS 27 $452, % $473, % 15.5% $410,000 CARINDALE 3 N/A N/A $497, % 5.1% $473,500 CARSELDINE 10 N/A N/A $383, % -0.4% $385,000 CHERMSIDE 35 $400, % $430, % -0.9% $434,000 CLAYFIELD 43 $380, % $376, % 5.9% $355,500 COOPERS PLAINS 3 N/A N/A $390, % -2.3% $399,000 COORPAROO 37 $381, % $405, % 7.7% $376,100 CORINDA 5 N/A N/A $415, % -3.5% $430,000 DARRA 1 N/A N/A $349, % -22.0% $447,500 DOOLANDELLA 2 N/A N/A $357, % 5.5% $339,000 EAST BRISBANE 18 N/A N/A $417, % -7.3% $450,000 EIGHT MILE PLAINS 19 N/A N/A $415, % 7.0% $388,000 ELLEN GROVE 13 N/A N/A $353, % 7.0% $330,000 ENOGGERA 7 N/A N/A $350, % -8.4% $382,500 EVERTON PARK 17 N/A N/A $395, % 0.0% $395,000 FAIRFIELD 12 N/A N/A $450, % 10.0% $409,000 FITZGIBBON 1 N/A N/A $353, % -4.0% $367,808 FORTITUDE VALLEY 30 $437, % $449, % 7.2% $419,000 GAYTHORNE 14 N/A N/A $441, % 16.2% $380,000 GORDON PARK 3 N/A N/A $375, % 4.7% $358,000 GREENSLOPES 22 $381, % $385, % 5.8% $363,750 HAMILTON 26 $535, % $596, % 27.2% $469,000 HAWTHORNE 13 N/A N/A $557, % 31.2% $425,000 HENDRA 6 N/A N/A $575, % 11.7% $515,000 HIGHGATE HILL 13 N/A N/A $534, % 17.9% $453,000 HOLLAND PARK WEST 5 N/A N/A $425, % 16.4% $365,000 INDOOROOPILLY 26 $521, % $492, % 10.7% $445,000 KANGAROO POINT 50 $496, % $512, % -1.5% $520,000 KEDRON 13 N/A N/A $455, % 33.0% $342,000 KELVIN GROVE 25 $470, % $476, % 10.4% $431,000 LUTWYCHE 19 N/A N/A $475, % 20.1% $395,500 MANLY 4 N/A N/A $461, % 9.8% $420,000 MANLY WEST 4 N/A N/A $370, % -3.9% $385,000 MCDOWALL 1 N/A N/A $470, % 22.6% $383,500 MILTON 11 N/A N/A $551, % -6.6% $590,000 MITCHELTON 7 N/A N/A $427, % 9.8% $389,500 MOOROOKA 18 N/A N/A $426, % 1.8% $419,000 MORNINGSIDE 30 $480, % $496, % 12.8% $440,000 MOUNT GRAVATT 3 N/A N/A $468, % 48.8% $315,000 MOUNT GRAVATT EAST 22 $405, % $450, % 16.9% $385,000 MURARRIE 9 N/A N/A $540, % -25.6% $725,750 NEW FARM 42 $626, % $576, % 8.7% $530,000 NEWMARKET 6 N/A N/A $430, % -8.3% $468,750 NEWSTEAD 18 N/A N/A $627, % -16.3% $749,550 NORMAN PARK 5 N/A N/A $486, % 1.5% $479,000 NORTHGATE 7 N/A N/A $396, % 14.5% $346,000 NUNDAH 38 $417, % $420, % 5.0% $400,000 OXLEY 5 N/A N/A $366, % -3.0% $377,495 PADDINGTON 10 N/A N/A $551, % 30.1% $423,750 RED HILL 6 N/A N/A $430, % 3.6% $415,000 RICHLANDS 7 N/A N/A $346, % -0.9% $350,000 ROCHEDALE 9 N/A N/A $495, % 25.2% $395,500 ROCKLEA 5 N/A N/A $434, % 11.7% $389,000 RUNCORN 22 $346, % $353, % 7.2% $329,944 SALISBURY 7 N/A N/A $445, % 12.7% $395,000 SHERWOOD 7 N/A N/A $445, % 11.3% $400,000 SOUTH BRISBANE 34 $471, % $497, % 5.1% $473,000 SPRING HILL 30 $416, % $410, % 5.1% $390,000 ST LUCIA 36 $426, % $462, % 4.8% $441,500 STAFFORD 6 N/A N/A $440, % 14.3% $385,000 SUNNYBANK HILLS 12 N/A N/A $360, % -4.0% $375,000 TAIGUM 21 $325, % $330, % -5.7% $350,000 TARINGA 36 $456, % $432, % 5.5% $409,500 TENERIFFE 33 $585, % $590, % 6.7% $552,823 THE GAP 7 N/A N/A $500, % 8.7% $460,000 TINGALPA 10 N/A N/A $365, % 1.2% $360,500 TOOWONG 49 $445, % $452, % 10.4% $410,000 UPPER MOUNT GRAVATT 16 N/A N/A $410, % -4.9% $431,000 Direct Connect makes moving easy for your customers by arranging their utility connections and other moving solutions. We invite you to experience the difference with us today. CALL US ON or visit agents.directconnect.com.au 10 QUEENSLAND MARKET MONITOR

11 BRISBANE MARKET UPDATES S MARKET - UNITS & TOWNHOUSES (CONT D) S WAKERLEY 5 N/A N/A $425, % 0.0% $425,000 WEST END 28 $550, % $565, % 10.8% $510,000 WINDSOR 18 N/A N/A $463, % 19.8% $387,000 WISHART 6 N/A N/A $385, % 6.8% $360,500 WOOLLOONGABBA 15 N/A N/A $432, % 1.8% $425,000 WYNNUM 15 N/A N/A $390, % 6.1% $367,500 WYNNUM WEST 11 N/A N/A $341, % -4.5% $357,500 YERONGA 25 $484, % $489, % 17.1% $417,500 YEERONGPILLY 2 N/A N/A $431, % -4.1% $450,000 ZILLMERE 18 N/A N/A $363, % -1.9% $370,000 S MARKET - VACANT LAND S BRISBANE (LGA) 148 $362, % $376, % 26.4% $297,500 BRISBANE (LGA) ^ 5 N/A N/A $893, % 75.5% $509,000 BRIDGEMAN DOWNS 13 N/A N/A $390, % -0.6% $392,500 CARINDALE 2 N/A N/A $493, % -13.5% $570,000 FITZGIBBON 13 N/A N/A $177, % -17.4% $214,950 HEATHWOOD 39 $296, % $281, % 15.1% $244,075 KENMORE 4 N/A N/A $476, % 33.3% $357,000 KURABY 1 N/A N/A $345, % -6.8% $370,000 ROCHEDALE 9 N/A N/A $443, % 11.4% $397,500 UPPER KEDRON 5 N/A N/A $335, % 13.7% $295,000 RENTAL MARKET - 3 BED HOUSES POST MAR-16 MAR-15 CODE LOCALITY L $/WEEK NEW BONDS $/WEEK NEW BONDS BRISBANE CITY $ $ BAYSIDE $ $ LINDUM/LYTTON/WYNNUM $ $ LOTA/MANLY $ $ CITY INNER $ $ BRISBANE CITY/SPRING HILL $ $ NEW FARM/TENERIFFE $ $ BOWEN HILLS/ VALLEY/ HERSTON/ NEWSTEAD $ $ MILTON/ PADDINGTON/ ROSALIE $ $ AUCHENFLOWER/ MTCOOTHA/ TOOWONG $ $ IRONSIDE/ ST LUCIA $ $ HIGHGATE HILL/ SOUTH BRIS/ WEST END $ $ BURANDA/ DUTTON PARK/ WOOLOONGABBA $ $ EAST BRIS/ KANGAROO POINT $ $ NORTH - INNER $ $ ASCOT/ HAMILTON $ $ ALBION/ BREAKFAST CREEK $485 8 $ CLAYFIELD/ HENDRA $ $ NUNDAH/ TOOMBUL/ WAVELL HEIGHTS $ $ LUTWYCHE/ WINDSOR/ WOOLOOWIN $ $ GORDON PARK/ KEDRON $ $ ALDERLEY/ ENOGERRA/ GAYTHORNE/ GRANGE/ NEWMARKET/ WILSTON $ $ NORTH - OUTER $ $ NORTHGATE $ $ BANYO/ NUDGEE/ VIRGINIA $ $ BRACKEN RIDGE/ BRIGHTON/ DEAGON/ SANDGATE $ $ FITZGIBBON/ TAIGUM $ $ CHERMSIDE/ CRAIGSLEA $ $ ASPLEY/ BOONDAL/ GEEBUNG/ ZILLMERE $ $ BALD HILLS $ $ NORTH WEST - INNER $ $ BALLYMORE/ ITHACA/ KELVIN GROVE/ RED HILL $ $ ASHGROVE/ DORRINGTON/ ST JOHNS WOOD $ $ BARDON/ JUBILEE/ RAINWORTH $ $ RENTAL MARKET - 3 BED HOUSES (CONT D) POST MAR-16 MAR-15 CODE LOCALITY L $/WEEK NEW BONDS $/WEEK NEW BONDS NORTH WEST - OUTER $ $ BROOKSIDE/ EVERTON PARK/ MCDOWALL/ STAFFORD $ $ ARANA HILLS/ KEPERRA $ $ THE GAP $ $ SOUTH - INNER $ $ ANNERLEY/ FAIRFIELD $ $ YERONGA $ $ CLIFTON HILL/ MOOROOKA/ TENNYSON $ $ GREENSLOPES/ STONES CORNER $ $ EKIBIN/ HOLLAND PARK/ TARRAGINDI/ WELLERS HILL $ $ MANSFIELD/ MT GRAVATT/ WISHART $ $ SOUTH - OUTER $ $ BRISBANE MARKET/ ROCKLEA $400 9 $ SALISBURY $ $ ARCHERFIELD/ COOPERS PLAINS $ $ ALTANDI/ MACGREGOR/ ROBERTSON/ SUNNYBANK $ $ ACACIA RIDGE/ LARAPINTA/ WILLAWONG $ $ KURABY $ $ EIGHT MILES PLAINS/ RUNCORN $ $ ALGESTER/ PARKINSON $ $ CALAMVALE/ DREWVALE/ STRETTON $ $ SOUTH EAST - INNER $ $ COORPAROO $ $ CAMP HILL/ CARINA/ CARINDALE $ $ CANNON HILL/ MORNINGSIDE/ NORMAN PARK $ $ BALMORAL/ BULIMBA/ HAWTHORNE $ $ MURARRIE $ $ SOUTH EAST - OUTER $ $ BELMONT N.A. 4 N/A GUMDALE/ RANSOME/ WAKERLEY $400 8 $ TINGALPA $ $ DOBOY/ HEMANT $395 6 $420 7 SOUTH WEST - INNER $ $ CHELMER/ INDOOROOPILLY/ TARINGA $ $ CORINDA/ GRACEVILLE/ OXLEY/ SHERWOOD $ $ SOUTH WEST - OUTER $ $ BROOKFIELD/ CHAPEL HILL/ KENMORE $ $ ANSTEAD/ BELLBOWRIE/ MOGGILL $480 5 $ SEVENTEEN MILE ROCKS/ SINNAMON PARK $ $ JINDALEE/ MTOMMANEY/ SUMNER/ WESTLAKE $ $ DARRA/ WACOL $ $ DOOLANDELLA/ DURACK/ INALA/ RICHLANDS $ $ FOREST LAKE/ CAROLE PARK $ $ MARCH QUARTER

12 BRISBANE MARKET UPDATES RENTAL MARKET - 2 BED UNITS POST MAR-16 MAR-15 CODE LOCALITY L $/WEEK NEW BONDS $/WEEK NEW BONDS BRISBANE CITY $ $ BAYSIDE $ $ LINDUM/ LYTTON/ WYNNUM $ $ LOTA/ MANLY $ $ CITY INNER $ $ BRISBANE CITY/ SPRING HILL $ $ NEW FARM/ TENERIFFE $ $ BOWEN HILLS/ VALLEY/ HERSTON/ NEWSTEAD $ $ MILTON/ PADDINGTON/ ROSALIE $ $ AUCHENFLOWER/ MTCOOTHA/ TOOWONG $ $ IRONSIDE/ ST LUCIA $ $ HIGHGATE HILL/ SOUTH BRIS/ WEST END $ $ BURANDA/ DUTTON PARK/ WOOLOONGABBA $ $ EAST BRIS/ KANGAROO POINT $ $ NORTH - INNER $ $ ASCOT/ HAMILTON $ $ ALBION/ BREAKFAST CREEK $ $ CLAYFIELD/ HENDRA $ $ NUNDAH/ TOOMBUL/ WAVELL HEIGHTS $ $ LUTWYCHE/ WINDSOR/ WOOLOOWIN $ $ GORDON PARK/ KEDRON $ $ ALDERLEY/ ENOGERRA/ GAYTHORNE/ GRANGE/ NEWMARKET/ WILSTON $ $ NORTH - OUTER $ $ NORTHGATE $ $ BANYO/ NUDGEE/ VIRGINIA $290 6 $ BRACKEN RIDGE/ BRIGHTON/ DEAGON/ SANDGATE $ $ FITZGIBBON/ TAIGUM $340 9 $ CHERMSIDE/ CRAIGSLEA $ $ ASPLEY/ BOONDAL/ GEEBUNG/ ZILLMERE $ $ NORTH WEST - INNER $ $ BALLYMORE/ ITHACA/ KELVIN GROVE/ RED HILL $ $ ASHGROVE/ DORRINGTON/ ST JOHNS WOOD $ $ BARDON/ JUBILEE/ RAINWORTH $ $ NORTH WEST - OUTER $ $ BROOKSIDE/ EVERTON PARK/ MCDOWALL/ STAFFORD $ $ SOUTH - INNER $ $ ANNERLEY/ FAIRFIELD $ $ YERONGA $ $ CLIFTON HILL/ MOOROOKA/ TENNYSON $ $ GREENSLOPES/ STONES CORNER $ $ EKIBIN/HOLLAND PARK/ TARRAGINDI/ WELLERS HILL $ $ MANSFIELD/ MT GRAVATT/ WISHART $ $ SOUTH - OUTER $ $ BRISBANE MARKET/ ROCKLEA $290 5 $ ARCHERFIELD/ COOPERS PLAINS $290 7 N/A ALTANDI/ MACGREGOR/ ROBERTSON/ SUNNYBANK $ $ EIGHT MILES PLAINS/ RUNCORN $390 6 $ ALGESTER/ PARKINSON N.A. 4 $ SOUTH EAST - INNER $ $ COORPAROO $ $ CAMP HILL/ CARINA/CARINDALE $ $ CANNON HILL/ MORNINGSIDE/ NORMAN PARK $ $ BALMORAL/ BULIMBA/ HAWTHORNE $ $ SOUTH EAST - OUTER $290 6 $ TINGALPA $290 6 $325 7 SOUTH WEST - INNER $ $ CHELMER/ INDOOROOPILLY/ TARINGA $ $ CORINDA/ GRACEVILLE/ OXLEY/ SHERWOOD $ $ SOUTH WEST - OUTER $ $ BROOKFIELD/ CHAPEL HILL/ KENMORE JINDALEE/ MTOMMANEY/ SUMNER/ WESTLAKE N/A DARRA/ WACOL N/A FOREST LAKE/ CAROLE PARK RENTAL MARKET - 3 BED TOWNHOUSES POST MAR-16 MAR-15 CODE LOCALITY L $/WEEK NEW BONDS $/WEEK NEW BONDS BRISBANE CITY $ $ BAYSIDE $ $ LINDUM/ LYTTON/ WYNNUM $ $ LOTA/ MANLY $ $ CITY INNER $ $ BRISBANE CITY/ SPRING HILL $705 5 N.A NEW FARM/ TENERIFFE $595 5 $ BOWEN HILLS/ VALLEY/ HERSTON/ NEWSTEAD $ $ MILTON/ PADDINGTON/ ROSALIE $ $ AUCHENFLOWER/ MTCOOTHA/ TOOWONG $ $ IRONSIDE/ ST LUCIA $ $ HIGHGATE HILL/ SOUTH BRIS/ WEST END $ $ EAST BRIS/ KANGAROO POINT $495 5 $ NORTH - INNER $ $ ASCOT/ HAMILTON $ $ CLAYFIELD/ HENDRA $ $ NUNDAH/ TOOMBUL/ WAVELL HEIGHTS $ $ LUTWYCHE/ WINDSOR/ WOOLOOWIN $ $ GORDON PARK/ KEDRON $ $ ALDERLEY/ ENOGERRA/ GAYTHORNE/ GRANGE/ NEWMARKET/ WILSTON $ $ NORTH - OUTER $ $ NORTHGATE $460 8 $ BRACKEN RIDGE/ BRIGHTON/ DEAGON/ SANDGATE $ $ FITZGIBBON/ TAIGUM $ $ CHERMSIDE/ CRAIGSLEA $ $ ASPLEY/ BOONDAL/ GEEBUNG/ ZILLMERE $ $ BALD HILLS $ $ NORTH WEST - INNER $ $ BALLYMORE/ ITHACA/ KELVIN GROVE/ RED HILL $ $ ASHGROVE/ DORRINGTON/ ST JOHNS WOOD $450 6 $ BARDON/ JUBILEE/ RAINWORTH $530 5 N/A 4 NORTH WEST - OUTER $ $ BROOKSIDE/ EVERTON PARK/ MCDOWALL/ STAFFORD $ $ ARANA HILLS/ KEPERRA $385 5 $ THE GAP $ $480 6 SOUTH - INNER $ $ ANNERLEY/ FAIRFIELD $ $ YERONGA $ $ CLIFTON HILL/ MOOROOKA/ TENNYSON $ $ GREENSLOPES/ STONES CORNER $ $ EKIBIN/HOLLAND PARK/ TARRAGINDI/ WELLERS HILL $ $ MANSFIELD/ MT GRAVATT/ WISHART $ $ SOUTH - OUTER $ $ SALISBURY $440 8 $ ALTANDI/ MACGREGOR/ ROBERTSON/ SUNNYBANK $ $ ACACIA RIDGE/ LARAPINTA/ WILLAWONG $ $ KURABY $ $ EIGHT MILES PLAINS/ RUNCORN $ $ ALGESTER/ PARKINSON $ $ CALAMVALE/ DREWVALE/ STRETTON $ $ SOUTH EAST - INNER $ $ COORPAROO $ $ CAMP HILL/ CARINA/ CARINDALE $ $ CANNON HILL/ MORNINGSIDE/ NORMAN PARK $ $ BALMORAL/ BULIMBA/ HAWTHORNE $ $ MURARRIE $ $ SOUTH EAST - OUTER $ $ BELMONT $ $ GUMDALE/ RANSOME/ WAKERLEY $ $ TINGALPA $ $ SOUTH WEST - INNER $ $ CHELMER/ INDOOROOPILLY/ TARINGA $ $ CORINDA/ GRACEVILLE/ OXLEY/ SHERWOOD $ $ QUEENSLAND MARKET MONITOR

13 BRISBANE MARKET UPDATES RENTAL MARKET - 3 BED TOWNHOUSES (CONT D) POST MAR-16 MAR-15 CODE LOCALITY L $/WEEK NEW BONDS $/WEEK NEW BONDS SOUTH WEST - OUTER $ $ BROOKFIELD/ CHAPEL HILL/ KENMORE $550 5 N/A SEVENTEEN MILE ROCKS/ SINNAMON PARK $ $ JINDALEE/ MTOMMANEY/ SUMNER/ WESTLAKE $ $ DARRA/ WACOL $ $ DOOLANDELLA/ DURACK/ INALA/ RICHLANDS $ $ FOREST LAKE/ CAROLE PARK $ $ BRISBANE HOUSE S 2,860 2,797 1, <$350K $350K+ $500k+ $1M+ Houses<2,400m BRISBANE UNIT S 1,612 1, <$250k $250K+ $350K+ $500k+ $1M+ BRISBANE LAND S <$250k $250K+ $350K+ $500k+ MARCH QUARTER

14 BRISBANE MARKET UPDATES GREATER BRISBANE The Brisbane Statistical Division reported a moderate increase in the house median sale price over the past 12 months to March Units, on the other hand, reported a slight reduction over the year of about 0.7 per cent. Over the March quarter, the house median sale price for Greater Brisbane reduced by four per cent from$500,000 to $480,000, while the unit median sale price reduced by 1.3 per cent from $400,000 to $395,000. This reduction resulted from an extension in the cyclical market contraction post-christmas. Greater Brisbane is an attractive residential property market for interstate and international investors with gross rental yields sitting between per cent depending on the location and property features and vacancy rates sitting generally below 2.5 per cent. Affordability along with location just a few kilometres away from the third capital city in Australia continues to attract buyer interest. Overall, the performance of the house residential market in Greater Brisbane remains positive showing a moderate and gradual increase of 7.8 per cent over the mediumterm. This trend provides the confidence to buyers of a stable and sound market. The performance of the unit market is more volatile; however it remains positive over the medium-term with a median sale price increasing by 3.9 per cent from$385,000 in March 2011 to $400,000 in March The REIQ remains optimistic that the economic fundamentals in Greater Brisbane are sound and will support a stable, moderate and gradual performance in the residential property market over the years to come. HOUSE MARKET Redland and Logan had moderate positive performance in median sale price during the March quarter. In Ipswich, the median sale price for the quarter remained relatively stable at slightly above $320,000. However, Moreton Bay reported a contraction in the March quarter median sale price of 1.2 per cent from $420,000 to $415,000. Based on preliminary data for the March quarter, the level of activity contracted across all different areas during the quarter. On an annual basis, the level of activity in Greater Brisbane showed a positive performance with the volume of sales increasing by 298 sales or 10.2 per cent in Ipswich, 389 sales or 9.8 per cent in Logan, 202 sales or 3.1 per cent in Moreton Bay, and 21 sales or 0.8 per cent in Redland. Redland and Moreton Bay have taking the lead as the strongest performance in the medium-term with a five year increase in the median sale price of 6.5 per cent and 5.1 per cent, respectively. Moreton Bay and Logan have both recorded a reduction in the vendor discount from about mid-five per cent in February 2015 to low-five per cent in February Days on market across all the areas is sitting well below three months and showing a strong performance in the State. UNIT MARKET The unit market in Greater Brisbane contracted over the March quarter with all the areas showing a reduction in the median sale price. Ipswich recorded the largest contraction in the quarter of 21 per cent, with the median sale price reducing from $300,000 to $237,000. Suburbs like Brassall, Bundamba and Goodna contributed to this contraction. The market activity, measured by the volume of sales, reduced across all areas in Greater Brisbane over the quarter. On an annual basis, the volume of activity reduced for all areas, except for the Redland unit market. The largest activity in Greater Brisbane remains between $250,000 and $350,000 median sale price for units. Logan recorded the largest reduction in the average days on market, reducing from 97 days in February 2015 to 87 days in February Other areas reported average days on market between three to four months, which sits around the average sale period for Queensland. The vendor discount reduced or stayed stable across all areas over the past 12 months to February The largest vendor discount was reported in Ipswich at 6.9 per cent compared to the lowest vendor discount of 5.2 per cent in Redland. RENTAL MARKET The average vacancy rate in Greater Brisbane has been sitting generally between the healthy range over the past eight years. Pine Rivers in Moreton Bay is the only area reporting a sharp increase in the vacancy rates over the past six months, which is now sitting around 3.3 per cent. The gross rental yields for houses fluctuate between four and five per cent in March Ipswich reported the largest gross yields for both houses and units. The median weekly for three-bedroom houses, two-bedroom units and three-bedroom townhouses remained steady or reported a minor reduction over the past 12 months. This is a clear indication that the rental market remains stable and supply keeps meeting the market demand. 14 QUEENSLAND MARKET MONITOR

15 BRISBANE MARKET UPDATES S MARKET - HOUSES S MARKET - HOUSES (CONT D) S S BRISBANE (SD) 6207 $480, % $485, % 7.8% $450,000 BRISBANE (SD) ^ 461 $595, % $599, % 5.1% $570,000 IPSWICH (LGA) 618 $321, % $320, % 1.6% $315,000 IPSWICH (LGA) ^ 39 $504, % $490, % -2.5% $502,500 AUGUSTINE HEIGHTS 17 N/A N/A $515, % -1.6% $523,500 BELLBIRD PARK 22 $329, % $330, % 5.6% $312,500 BASIN POCKET 9 N/A N/A $230, % 3.4% $222,500 BOOVAL 16 N/A N/A $280, % -2.4% $287,000 BRASSALL 32 $327, % $325, % -3.0% $335,000 BUNDAMBA 18 N/A N/A $285, % 1.8% $280,000 CAMIRA 18 N/A N/A $351, % 1.7% $345,000 COALFALLS 7 N/A N/A $299, % -6.4% $320,000 COLLINGWOOD PARK 24 $318, % $317, % 0.1% $317,000 DEEBING HEIGHTS 10 N/A N/A $375, % -31.2% $545,000 EAST IPSWICH 8 N/A N/A $275, % 0.9% $272,500 EASTERN HEIGHTS 15 N/A N/A $272, % 0.8% $270,425 FLINDERS VIEW 21 $370, % $362, % 0.6% $360,000 GAILES 4 N/A N/A $248, % -2.2% $254,000 GOODNA 29 $313, % $295, % 0.0% $295,000 IPSWICH 9 N/A N/A $300, % -8.5% $328,500 KARALEE ^ 10 N/A N/A $541, % 5.1% $515,000 LEICHHARDT 14 N/A N/A $224, % -5.5% $237,500 NEWTOWN 5 N/A N/A $299, % -8.8% $328,000 NORTH BOOVAL 9 N/A N/A $275, % 0.0% $275,000 NORTH IPSWICH 20 $301, % $275, % -5.8% $292,000 ONE MILE 7 N/A N/A $235, % -5.7% $249,250 RACEVIEW 43 $303, % $308, % -1.0% $311,000 REDBANK 5 N/A N/A $300, % -3.1% $310,000 REDBANK PLAINS 78 $324, % $315, % 5.0% $300,000 RIPLEY 9 N/A N/A $342, % 3.4% $330,750 RIVERVIEW 8 N/A N/A $239, % 4.3% $230,000 ROSEWOOD 13 N/A N/A $262, % -3.8% $273,000 SADLIERS CROSSING 3 N/A N/A $325, % 10.2% $295,000 SILKSTONE 18 N/A N/A $287, % 7.6% $266,750 SPRINGFIELD 20 $420, % $405, % 6.6% $380,000 SPRINGFIELD LAKES 45 $412, % $415, % 4.5% $397,000 WOODEND 9 N/A N/A $280, % -15.4% $331,075 WULKURAKA 6 N/A N/A $315, % 0.8% $312,500 YAMANTO 12 N/A N/A $393, % 12.4% $350,000 LOGAN (LGA) 808 $370, % $365, % 2.0% $358,000 LOGAN (LGA) ^ 169 $550, % $540, % 6.9% $505,000 BEENLEIGH 35 $317, % $310, % -5.5% $328,500 BETHANIA 9 N/A N/A $311, % 2.0% $305,000 BORONIA HEIGHTS 34 $352, % $320, % 3.2% $310,000 BROWNS PLAINS 17 N/A N/A $325, % 4.8% $310,000 CEDAR GROVE ^ 5 N/A N/A $430, % 9.6% $392,500 CEDAR VALE ^ 15 N/A N/A $461, % 4.8% $440,500 CHAMBERS FLAT ^ 5 N/A N/A $560, % 32.1% $424,000 CORNUBIA ^ 7 N/A N/A $761, % 2.9% $740,000 CORNUBIA 24 $548, % $489, % 1.9% $480,000 CRESTMEAD 39 $322, % $310, % 0.0% $310,000 DAISY HILL 28 $455, % $450, % 3.8% $433,500 EAGLEBY 47 $299, % $280, % -1.2% $283,500 EDENS LANDING 27 $367, % $345, % -2.1% $352,500 FORESTDALE ^ 9 N/A N/A $763, % 18.0% $647,500 GREENBANK ^ 19 N/A N/A $560, % 10.9% $505,000 HERITAGE PARK 23 $410, % $428, % 9.0% $392,500 HILLCREST 18 N/A N/A $350, % 2.3% $342,000 HOLMVIEW 8 N/A N/A $357, % 13.1% $316,000 JIMBOOMBA 14 N/A N/A $374, % -2.3% $383,500 JIMBOOMBA ^ 28 $470, % $470, % -1.1% $475,000 KINGSTON 18 N/A N/A $295, % 6.2% $277,750 LOGAN CENTRAL 9 N/A N/A $305, % 10.9% $275,000 LOGAN RESERVE 7 N/A N/A $379, % 8.5% $349,250 LOGAN VILLAGE ^ 7 N/A N/A $503, % 3.9% $485,000 LOGANHOLME 32 $375, % $386, % 5.8% $365,000 LOGANLEA 27 $340, % $345, % 9.2% $316,000 MARSDEN 50 $350, % $345, % 4.9% $328,750 MEADOWBROOK 7 N/A N/A $381, % -1.2% $386,000 MOUNT WARREN PARK 16 N/A N/A $361, % -1.6% $367,000 MUNRUBEN ^ 6 N/A N/A $524, % 4.0% $504,000 NEW BEITH ^ 7 N/A N/A $562, % 6.1% $530,000 REGENTS PARK 31 $370, % $375, % 2.7% $365,000 ROCHEDALE SOUTH 36 $470, % $468, % 15.0% $407,000 SHAILER PARK 39 $532, % $520, % 11.3% $467,500 SLACKS CREEK 22 $303, % $320, % 6.7% $300,000 SPRINGWOOD 29 $475, % $467, % 13.9% $410,000 TANAH MERAH 18 N/A N/A $410, % 5.1% $390,000 UNDERWOOD 25 $485, % $499, % 12.4% $445,000 WATERFORD 19 N/A N/A $398, % 2.1% $389,750 WATERFORD WEST 16 N/A N/A $340, % 6.6% $319,000 WINDAROO 11 N/A N/A $420, % 2.4% $410,000 WOODRIDGE 42 $310, % $300, % 11.1% $270,000 MORETON BAY (LGA) 1398 $415, % $415, % 5.1% $395,000 MORETON BAY (LGA) ^ 162 $600, % $600, % 1.9% $589,000 ALBANY CREEK 59 $558, % $565, % 8.7% $520,000 ARANA HILLS 28 $521, % $498, % 14.0% $437,000 BANKSIA BEACH 29 $489, % $525, % 9.4% $480,000 BEACHMERE 20 $317, % $315, % -8.7% $345,000 BELLARA 19 N/A N/A $319, % -3.9% $332,500 BELLMERE 19 N/A N/A $340, % -4.2% $354,750 BONGAREE 28 $395, % $410, % -3.5% $425,000 BRAY PARK 57 $388, % $390, % 8.5% $359,450 BUNYA ^ 2 N/A N/A $807, % -3.4% $835,000 BURPENGARY 23 $385, % $386, % 4.9% $368,000 BURPENGARY ^ 11 N/A N/A $550, % 4.7% $525,500 BURPENGARY EAST 12 N/A N/A $424, % -30.5% $609,750 BURPENGARY EAST ^ 15 N/A N/A $565, % 5.5% $535,500 CABOOLTURE 90 $324, % $310, % 0.0% $310,000 CABOOLTURE ^ 11 N/A N/A $512, % 8.4% $473,000 CABOOLTURE SOUTH 27 $270, % $272, % -3.7% $282,500 CASHMERE 20 $590, % $610, % 15.1% $530,000 CLONTARF 36 $403, % $413, % 14.7% $360,000 DAKABIN 8 N/A N/A $450, % 4.7% $430,000 DECEPTION BAY 86 $340, % $330, % 6.5% $310,000 EATONS HILL 35 $579, % $548, % 7.0% $512,375 ELIMBAH ^ 5 N/A N/A $507, % 3.5% $490,000 EVERTON HILLS 19 N/A N/A $524, % 11.5% $470,000 FERNY HILLS 33 $508, % $512, % 12.0% $457,500 GRIFFIN 19 N/A N/A $438, % 7.0% $410,000 JOYNER 5 N/A N/A $465, % -1.1% $470,000 KALLANGUR 89 $352, % $362, % 4.3% $347,000 KIPPA-RING 34 $412, % $392, % 12.1% $350,000 LAWNTON 14 N/A N/A $364, % 5.7% $345,000 MANGO HILL 25 $466, % $460, % 4.7% $440,000 MARGATE 28 $420, % $412, % 8.5% $380,000 MORAYFIELD 65 $340, % $332, % 2.2% $325,000 MORAYFIELD ^ 10 N/A N/A $541, % -1.6% $550,000 MURRUMBA DOWNS 26 $535, % $470, % 9.3% $430,000 NARANGBA 71 $453, % $445, % 6.0% $420,000 NARANGBA ^ 5 N/A N/A $680, % 19.8% $567,500 NEWPORT 14 N/A N/A $867, % 7.7% $805,000 NINGI 13 N/A N/A $365, % -15.1% $430,000 NINGI ^ 12 N/A N/A $525, % 12.9% $465,000 NORTH LAKES 89 $460, % $460, % 2.2% $450,000 PETRIE 31 $415, % $396, % 4.1% $381,000 REDCLIFFE 31 $441, % $400, % 5.3% $380,000 ROTHWELL 21 $410, % $399, % 5.0% $380,000 SAMFORD VALLEY ^ 10 N/A N/A $880, % 7.1% $822,000 SANDSTONE POINT 16 N/A N/A $395, % 0.0% $395,000 SCARBOROUGH 32 $457, % $470, % 7.1% $439,000 STRATHPINE 23 $380, % $360, % 2.9% $350,000 TOORBUL 7 N/A N/A $302, % -12.9% $347,500 UPPER CABOOLTURE 10 N/A N/A $340, % 1.2% $336,000 UPPER CABOOLTURE ^ 4 N/A N/A $545, % 5.8% $515,000 MARCH QUARTER

16 BRISBANE MARKET UPDATES S MARKET - HOUSES (CONT D) S MARKET - UNITS & TOWNHOUSES S S WAMURAN ^ 8 N/A N/A $552, % 3.3% $535,000 WARNER 38 $512, % $485, % 2.1% $475,000 WARNER ^ 4 N/A N/A $810, % 24.8% $649,000 WOODY POINT 13 N/A N/A $475, % 18.2% $402,000 REDLAND (LGA) 545 $499, % $490, % 6.5% $460,000 REDLAND (LGA) ^ 21 $920, % $860, % 7.8% $797,500 ALEXANDRA HILLS 63 $430, % $428, % 4.4% $410,000 BIRKDALE 47 $547, % $514, % 14.2% $450,000 CAPALABA 60 $447, % $437, % 7.8% $406,000 CAPALABA ^ 3 N/A N/A $846, % 8.5% $780,000 CLEVELAND 46 $597, % $576, % 10.8% $520,000 MACLEAY ISLAND 13 N/A N/A $230, % -9.8% $255,000 MOUNT COTTON 30 $497, % $483, % 2.8% $469,900 ORMISTON 31 $579, % $639, % 8.4% $590,000 REDLAND BAY 61 $523, % $520, % 6.1% $490,000 RUSSELL ISLAND 19 N/A N/A $174, % -15.1% $205,000 THORNESIDE 6 N/A N/A $477, % 2.7% $465,000 THORNLANDS 44 $540, % $550, % 1.8% $540,400 THORNLANDS ^ 3 N/A N/A $950, % 11.4% $852,500 VICTORIA POINT 54 $529, % $511, % 8.7% $470,000 WELLINGTON POINT 51 $565, % $566, % 4.8% $540,000 SURROUNDS LOCKYER VALLEY (LGA) 39 $250, % $250, % -9.1% $275,000 LOCKYER VALLEY (LGA)^ 63 $350, % $350, % 1.4% $345,000 GATTON 19 N/A N/A $258, % -10.6% $288,750 KENSINGTON GROVE ^ 6 N/A N/A $355, % 0.0% $355,000 LAIDLEY 14 N/A N/A $235, % -7.8% $255,000 LAIDLEY HEIGHTS ^ 3 N/A N/A $276, % -17.4% $335,000 REGENCY DOWNS ^ 8 N/A N/A $300, % -6.4% $320,500 SCENIC RIM (LGA) 76 $349, % $360, % -5.3% $380,000 SCENIC RIM (LGA) ^ 53 $505, % $507, % 8.6% $467,250 BEAUDESERT 15 N/A N/A $320, % -6.0% $340,250 BOONAH 19 N/A N/A $277, % 0.5% $276,000 KOORALBYN ^ 6 N/A N/A $343, % 7.2% $320,000 TAMBORINE ^ 14 N/A N/A $525, % -2.8% $540,000 TAMBORINE MOUNTAIN 27 $435, % $450, % 1.1% $445,000 TAMBORINE MOUNTAIN ^ 10 N/A N/A $740, % 1.4% $730,000 SOMERSET (LGA) 36 $227, % $247, % -8.2% $269,000 SOMERSET (LGA) ^ 38 $350, % $360, % 0.0% $360,000 FERNVALE 9 N/A N/A $335, % -0.7% $337,500 KILCOY 4 N/A N/A $215, % -17.3% $260,000 LOWOOD 7 N/A N/A $250, % -4.8% $262,500 Brisbane Moreton Bay Logan Redland Ipswich STEADY RISING RECOVERING Source: REIQ Based on the last 4 quarters median sale price change BRISBANE HOUSE MARKET March Qtr 2016 FALLING STABILISING STEADY BRISBANE (SD) 2423 $395, % $400, % 3.9% $385,000 IPSWICH (LGA) 54 $237, % $300, % 3.8% $289,000 BRASSALL 2 N/A N/A $248, % -15.8% $295,000 BROOKWATER 7 N/A N/A $522, % 41.8% $368,000 BUNDAMBA 4 N/A N/A $305, % 102.3% $151,250 GOODNA 3 N/A N/A $310, % 29.7% $239,000 REDBANK PLAINS 7 N/A N/A $231, % -26.5% $315,000 SPRINGFIELD LAKES 2 N/A N/A $384, % 87.8% $205,000 LOGAN (LGA) 188 $245, % $250, % -9.4% $276,000 BEENLEIGH 12 N/A N/A $207, % -12.8% $237,500 BORONIA HEIGHTS 6 N/A N/A $250, % 39.7% $179,000 DAISY HILL 2 N/A N/A $315, % 0.8% $312,500 EAGLEBY 15 N/A N/A $218, % -29.7% $310,000 EDENS LANDING 10 N/A N/A $215, % -14.5% $252,000 HILLCREST 3 N/A N/A $229, % -13.2% $263,750 KINGSTON 5 N/A N/A $275, % -18.5% $337,500 LOGAN CENTRAL 9 N/A N/A $190, % -15.2% $224,000 MARSDEN 2 N/A N/A $332, % 2.6% $323,500 MEADOWBROOK 2 N/A N/A $259, % -3.7% $269,500 MOUNT WARREN PARK 8 N/A N/A $215, % -2.3% $220,000 ROCHEDALE SOUTH 10 N/A N/A $280, % 2.4% $273,500 SHAILER PARK 8 N/A N/A $275, % -13.2% $317,000 SLACKS CREEK 9 N/A N/A $219, % -6.2% $234,000 SPRINGWOOD 9 N/A N/A $266, % -4.5% $278,500 UNDERWOOD 5 N/A N/A $390, % 1.4% $384,500 WATERFORD WEST 19 N/A N/A $213, % -5.5% $225,500 WOODRIDGE 20 $200, % $195, % -8.0% $212,000 MORETON BAY (LGA) 331 $310, % $335, % -0.4% $337,000 ALBANY CREEK 9 N/A N/A $410, % 2.8% $399,000 BELLARA 7 N/A N/A $282, % 156.4% $110,000 BONGAREE 12 N/A N/A $307, % -12.1% $350,000 BRENDALE 19 N/A N/A $270, % -3.7% $280,500 BURPENGARY 6 N/A N/A $277, % -11.9% $315,000 CABOOLTURE 22 $152, % $193, % -29.8% $275,000 CLONTARF 10 N/A N/A $341, % 1.8% $335,000 DECEPTION BAY 18 N/A N/A $240, % -27.3% $330,000 KALLANGUR 17 N/A N/A $305, % -1.6% $310,000 KIPPA-RING 12 N/A N/A $280, % -16.4% $335,000 LAWNTON 9 N/A N/A $225, % -34.6% $345,000 MANGO HILL 6 N/A N/A $367, % -2.6% $377,500 MARGATE 9 N/A N/A $370, % 2.4% $361,500 MORAYFIELD 8 N/A N/A $225, % -29.7% $320,000 MURRUMBA DOWNS 7 N/A N/A $345, % -0.9% $348,000 NORTH LAKES 13 N/A N/A $372, % 10.1% $338,000 PETRIE 2 N/A N/A $332, % -6.2% $354,000 REDCLIFFE 33 $337, % $360, % -12.3% $410,650 SCARBOROUGH 19 N/A N/A $426, % 4.6% $407,500 STRATHPINE 6 N/A N/A $272, % -5.4% $288,000 WOODY POINT 19 N/A N/A $395, % -5.7% $419,000 WOORIM 10 N/A N/A $317, % -3.8% $330,000 REDLAND (LGA) 126 $370, % $394, % 11.0% $355,000 BIRKDALE 8 N/A N/A $400, % 23.1% $325,000 CAPALABA 34 $314, % $346, % 15.6% $300,000 CLEVELAND 28 $375, % $385, % -0.6% $387,250 ORMISTON 12 N/A N/A $379, % 0.1% $379,000 THORNESIDE 7 N/A N/A $322, % 9.2% $295,000 THORNLANDS 3 N/A N/A $395, % -16.8% $475,000 VICTORIA POINT 12 N/A N/A $360, % 5.9% $340,000 WELLINGTON POINT 6 N/A N/A $454, % 26.4% $360, QUEENSLAND MARKET MONITOR

17 BRISBANE MARKET UPDATES S MARKET - VACANT LAND S BRISBANE (SD) 702 $225, % $220, % 7.3% $205,000 BRISBANE (SD) ^ 108 $280, % $275, % -3.9% $286,250 Brisbane Moreton Bay Logan Brisbane Redland Redland Ipswich BRISBANE UNITS MARKETS March Qtr 2016 March Qtr 2016 RISING FALLING IPSWICH (LGA) 89 $191, % $180, % 1.1% $179,000 IPSWICH (LGA) ^ 18 N/A N/A $243, % -4.9% $255,950 BELLBIRD PARK 13 N/A N/A $219, % -8.4% $240,000 BRASSALL 11 N/A N/A $178, % 0.3% $178,250 KARALEE ^ 5 N/A N/A $280, % 6.4% $263,250 LEICHHARDT 6 N/A N/A $149, % -15.5% $177,475 REDBANK PLAINS 12 N/A N/A $160, % -8.6% $175,000 RIPLEY 7 N/A N/A $173, % N/A N/A SOUTH RIPLEY 10 N/A N/A $178, % N/A N/A SPRINGFIELD LAKES 4 N/A N/A $202, % 10.4% $183,000 LOGAN (LGA) 128 $207, % $183, % -12.5% $210,000 LOGAN (LGA) ^ 42 $286, % $270, % 3.8% $260,000 BUCCAN ^ 9 N/A N/A $290, % -27.1% $398,000 CORNUBIA 2 N/A N/A $365, % 62.2% $225,000 CRESTMEAD 2 N/A N/A $205, % 0.0% $205,000 HOLMVIEW 7 N/A N/A $183, % -14.4% $214,900 JIMBOOMBA 3 N/A N/A $158, % -14.5% $186,000 JIMBOOMBA ^ 3 N/A N/A $259, % 18.0% $220,000 LOGAN RESERVE 1 N/A N/A $176, % N/A N/A LOGAN VILLAGE 3 N/A N/A $255, % 4.1% $245,000 LOGANLEA 5 N/A N/A $207, % -7.8% $225,000 MARSDEN 2 N/A N/A $210, % 7.0% $197,000 NEW BEITH ^ 11 N/A N/A $295, % 12.8% $261,500 WATERFORD 4 N/A N/A $199, % 5.1% $190,000 YARRABILBA 61 $183, % $171, % 18.0% $145,000 Moreton Bay Logan Ipswich STEADY RECOVERING Source: REIQ Based on the last 4 quarters median sale price change STABILISING STEADY BRISBANE SURROUNDS HOUSE S BRISBANE UNITS MARKETS 2,076 March Qtr ,917 1,723 1,405 1,476 1,077 RISING 939 FALLING Brisbane Redland Moreton Bay Logan <$350K $350K+ $500k+ $1M+ *Preliminary Ipswich data Houses<2,400m Source: REIQ STEADY RECOVERING STABILISING 46 STEADY MORETON BAY (LGA) 157 $235, % $235, % 15.0% $204,400 MORETON BAY (LGA) ^ 40 $275, % $275, % -19.1% $340,000 BANKSIA BEACH 2 N/A N/A $462, % 7.4% $430,000 BURPENGARY 0 N/A N/A $230, % -9.8% $255,000 CABOOLTURE 9 N/A N/A $189, % -2.6% $194,000 CABOOLTURE ^ 20 $275, % $265, % -3.6% $275,000 DAKABIN 7 N/A N/A $225, % 7.1% $210,000 GRIFFIN 17 N/A N/A $249, % 19.4% $208,500 KALLANGUR 4 N/A N/A $235, % 12.4% $209,016 MANGO HILL 24 $256, % $256, % -1.5% $260,000 MORAYFIELD 5 N/A N/A $183, % -5.4% $194,000 NARANGBA 17 N/A N/A $214, % -2.5% $220,000 NORTH LAKES 3 N/A N/A $281, % 33.3% $210,750 WARNER 19 N/A N/A $256, % 10.4% $232,000 REDLAND (LGA) 180 N/D N/D $225, % -6.3% $240,000 BIRKDALE 2 N/A N/A $310, % 3.3% $300,000 MACLEAY ISLAND 18 N/A N/A $30, % -41.7% $51,500 MOUNT COTTON 11 N/A N/A $263, % 0.0% $263,000 REDLAND BAY 20 $300, % $295, % -1.3% $299,000 RUSSELL ISLAND 102 $20, % $18, % -46.3% $35,000 THORNLANDS 10 N/A N/A $310, % 8.8% $285,000 WELLINGTON POINT 1 N/A N/A $403, % 23.6% $326,500 SURROUNDS LOCKYER VALLEY (LGA) 13 N/A N/A $125, % -2.7% $129,000 LOCKYER VALLEY (LGA) ^ 19 N/A N/A $135, % -4.3% $141,000 KENSINGTON GROVE ^ 4 N/A N/A $152, % 6.8% $143,000 SCENIC RIM (LGA) 7 N/A N/A $182, % -3.7% $190,000 SCENIC RIM (LGA) ^ 8 N/A N/A $202, % 9.5% $185,000 GLENEAGLE 1 N/A N/A $184, % 7.2% $172,000 SOMERSET (LGA) 9 N/A N/A $140, % 8.5% $129,000 FERNVALE 5 N/A N/A $152, % 6.3% $143,000 MARCH QUARTER

18 BRISBANE MARKET UPDATES RENTAL MARKET - 3 BED HOUSES POST MAR-16 MAR-15 CODE LOCALITY L $/WEEK NEW BONDS $/WEEK NEW BONDS IPSWICH CITY $ $ GOODNA/ BELLBIRD PK/ CAMIRA/ SPRINGFIELD $ $ REDBANK/ REDBANK PLNS/ COLLINGWOOD PK $ $ DINMORE/ RIVERVIEW $ $ BOOVAL/ BLACKSTONE/ BUNDAMBA/ EBBW VALE/ SILKSTONE $ $ IPSWICH/ BRASSALL/ BREMER/ CHURCHILL/ FLINDERS VIEW/ LEICHARDT/ RACEVIEW/ TIVOLI/ YAMANTO ETC $ $ AMBERLEY/ FERNVALE/ KARANA 4306 DOWNS/ MT CROSBY/ PEAK CROSSING/ $ $ SWANBANK/ WILLOWBANK ETC 4340 ROSEWOOD/ ASHWELL/ CALVERT/ EBENEZER/ GRANDCHESTER/ MOORANG/ $ $ MT FORBES/ ROSEVALE ETC LOGAN CITY $ $ KINGSTON/ LOGAN CITY/ TRINDER PK/ WOODRIDGE $ $ BROWNS PLAINS/BROWNSLEIGH/ 4118 FORESTDALE/ HERITAGE PK/ HILLCREST/ $ $ REGENTS PK 4119 UNDERWOOD $ $ PRIESTS GULLY/ ROCHEDALE $ $ BORONIA HTS/ GREENBANK/ NEW BEITH $ $ MUNRUBEN/ PARK RIDGE $420 5 $ CHATSWOOD HILLS/ DAISY HILL/ $360 PREISTDALE/ SLACKS CK/ SPRINGWOOD 89 $ KIMBERLEY PK/ LOGAN HYPERDOME/ SHAILER PK/ TANAH MERAH $ $ LOGANDALE/ LOGANHOLME $ $ CARBROOK/ CORNUBIA $400 8 $ LOGANLEA/ MEADOWBROOK $ $ CRESTMEAD/ MARSDEN $ $ CHAMBERS FLAT/ LOGAN RESERVE/ WATERFORD $ $ BETHANIA $ $ BEENLEIGH/ EAGLBY/ MT WARREN PK $ $ MORETON BAY REGIONAL $ $ REDCLIFFE REGION $ $ CLONTARF/ HUMPYBONG/ MARGATE/ SCOTTS PT/ WOODY PT $ $ REDCLIFFE/ SCARBOROUGH/ NEWPORT WATERS/ SUTTONS BCH $ $ KIPPA-RING $ $ ROTHWELL $ $ PINE RIVERS REGION $ $ ALBANY CK/ BRIDGEMAN DOWNS/ CASHS CROSSING $ $ EATONS HILL $450 5 $ BUNYA/ FERNY GROVE/ FERNY HILLS/ KEDRON UPPER $ $ BRAY PK/ BRENDALE/ CASHMERE/ CLEAR MOUNTAIN/ JOYNER/ $ $ STRATHPINE/ WARNER 4501 LAWNTON $ $ FRENCHS FOREST/ PETRIE $ $ DAKABIN/ DOHLES ROCKS/ GRIFFIN/ KALLANGUR/ KURWONGBAH $ $ MANGO HILL $ $ CAMP MOUNTAIN/ CEDAR CK/ MT GLORIOUS/ MT NEBO/ MT SAMSON/ $460 6 $ SAMFORD/ YUGAR 4521 DAYBORO/ MT MEE/ MT PLEASANT/ OCEAN VIEW/ RUSH CK $375 7 $385 9 CABOOLTURE REGION $ $ NARANGBA $ $ BURPENGARY $ $ MORAYFIELD/ MOORINA $ $ BANKSIA BEACH/ BELLARA/ BONGAREE/ $350 BRIBIE IS/ WOORIM 44 $ DECEPTION BAY $ $ RENTAL MARKET - 3 BED HOUSES (CONT D) POST MAR-16 MAR-15 CODE LOCALITY L $/WEEK NEW BONDS $/WEEK NEW BONDS 4510 CABOOLTURE/ BEACHMERE/ DONNYBROOK/ BALINGOOL/ BELLMERE/ $300 MELEDALE/ MOODLU/ ROCKSBERG/ 145 $ TOORBUL 4511 GODWIN BEACH/ NINGI/ SANDSTONE PT/ $335 TOORBUL PT 16 $ WOODFORD/ BELLTHORPE/ BRACALBA/ 4514 CEDARTON/ D'AGUILAR/ DELANEYS CK/ NEURUM/ STANMORE/ STONEY CK/ $330 8 $ VILLENEUVE REDLAND CITY COUNCIL AREA $ $ CAPALABA/ SHELDON $ $ THORNSIDE $395 8 $ BIRKDALE/ AQUATIC PARADISE/ MERIDIAN PT $ $ ORMISTON/ WELLINGTON PT/ EROBIN $ $ ALEXANDRA HILLS/ BURWOOD HTS $ $ CLEVELAND/ RABY BAY $ $ THORNLANDS/ PINKLANDS $ $ MT COTTON/ PT HALLORAN/ PT $400 TALBURPIN/ REDLAND BAY/ VICTORIA PT 43 $ AMITY PT/ DUNWICH/ PT LOOKOUT $350 9 $ COOCHIEMUDLO IS/ KARRAGARRA IS/ LAMB IS/ MACLEAY IS/ PEEL IS/ $ $ RUSSELL IS LOCKYER VALLEY REGIONAL $ $ BLENHEIM $ $ CROWLEY VALE $ $ ADARE $ $270 5 SOMERSET REGIONAL $ $ ATKINSONS DAM $ $ BRYDEN $ $ BIARRA $230 8 $ GLENFERN $ $ BRISBANE SURROUNDS UNIT S <$250k $250K+ $350K+ $500k+ $1M QUEENSLAND MARKET MONITOR

19 BRISBANE MARKET UPDATES RENTAL MARKET - 2 BED UNITS POST MAR-16 MAR-15 CODE LOCALITY L $/WEEK NEW BONDS $/WEEK NEW BONDS IPSWICH CITY $ $ GOODNA/ BELLBIRD PK/ CAMIRA/ SPRINGFIELD $ $ REDBANK/ REDBANK PLNS/ COLLINGWOOD PK $ $ BOOVAL/ BLACKSTONE/ BUNDAMBA/ EBBW VALE/ SILKSTONE $ $ IPSWICH/ BRASSALL/ BREMER/ 4305 CHURCHILL/ FLINDERS VIEW/ LEICHARDT/ $ $ RACEVIEW/ TIVOLI/ YAMANTO ETC 4306 AMBERLEY/ FERNVALE/ KARANA DOWNS/ MT CROSBY/ PEAK CROSSING/ $265 8 N/A 3 SWANBANK/ WILLOWBANK ETC LOGAN CITY $ $ KINGSTON/ LOGAN CITY/ TRINDER PK/ WOODRIDGE $ $ PRIESTS GULLY/ ROCHEDALE $295 7 $ CHATSWOOD HILLS/ DAISY HILL/ $330 PREISTDALE/ SLACKS CK/ SPRINGWOOD 20 $ KIMBERLEY PK/ LOGAN HYPERDOME/ SHAILER PK/ TANAH MERAH $300 5 $ LOGANLEA/ MEADOWBROOK $ N/A N/A 4132 CRESTMEAD/ MARSDEN $300 9 N/A CHAMBERS FLAT/ LOGAN RESERVE/ WATERFORD $ $ BEENLEIGH/ EAGLBY/ MT WARREN PK $ $ MORETON BAY REGIONAL $ $ REDCLIFFE REGION $ $ CLONTARF/ HUMPYBONG/ MARGATE/ SCOTTS PT/ WOODY PT $ $ REDCLIFFE/ SCARBOROUGH/ NEWPORT WATERS/ SUTTONS BCH $ $ PINE RIVERS REGION $ $ BRAY PK/ BRENDALE/ CASHMERE/ CLEAR MOUNTAIN/ JOYNER/ $ $ STRATHPINE/ WARNER 4501 LAWNTON $280 5 $ FRENCHS FOREST/ PETRIE $285 5 $ DAKABIN/ DOHLES ROCKS/ GRIFFIN/ KALLANGUR/ KURWONGBAH $ $ MANGO HILL $ $ CABOOLTURE REGION $ $ BURPENGARY $ $ MORAYFIELD/ MOORINA $ $ BANKSIA BEACH/ BELLARA/ BONGAREE/ $280 BRIBIE IS/ WOORIM 31 $ DECEPTION BAY $285 9 $ CABOOLTURE/ BEACHMERE/ DONNYBROOK/ BALINGOOL/ BELLMERE/ MELEDALE/ $ $ MOODLU/ ROCKSBERG/ TOORBUL REDLAND CITY $ $ CAPALABA/ SHELDON $ $ ORMISTON/ WELLINGTON PT/ EROBIN $245 5 $ CLEVELAND/ RABY BAY $ $ LOCKYER VALLEY REGIONAL $ $ ADARE $ $ , BRISBANE SURROUNDS LAND S RENTAL MARKET - 3 BED TOWNHOUSES POST MAR-16 MAR-15 CODE LOCALITY L $/WEEK NEW BONDS $/WEEK NEW BONDS IPSWICH CITY $ $ GOODNA/ BELLBIRD PK/ CAMIRA/ SPRINGFIELD $ $ REDBANK/ REDBANK PLNS/ COLLINGWOOD PK $ $ BOOVAL/ BLACKSTONE/ BUNDAMBA/ EBBW VALE/ SILKSTONE $ $ IPSWICH/ BRASSALL/ BREMER/ 4305 CHURCHILL/ FLINDERS VIEW/ LEICHARDT/ $ $ RACEVIEW/ TIVOLI/ YAMANTO ETC LOGAN CITY $ $ KINGSTON/ LOGAN CITY/ TRINDER PK/ WOODRIDGE $ $ BROWNS PLAINS/BROWNSLEIGH/ 4118 FORESTDALE/ HERITAGE PK/ HILLCREST/ $ $ REGENTS PK 4119 UNDERWOOD $ $ PRIESTS GULLY/ ROCHEDALE $330 5 $ BORONIA HTS/ GREENBANK/ NEW BEITH $345 6 N/A CHATSWOOD HILLS/ DAISY HILL/ PREISTDALE/ SLACKS CK/ SPRINGWOOD $ $ KIMBERLEY PK/ LOGAN HYPERDOME/ SHAILER PK/ TANAH MERAH $ $ LOGANLEA/ MEADOWBROOK $ $ CRESTMEAD/ MARSDEN $ $ CHAMBERS FLAT/ LOGAN RESERVE/ WATERFORD $ $ BETHANIA $ $ BEENLEIGH/EAGLBY/ MT WARREN PK $ $ MORETON BAY REGIONAL $ $ CABOOLTURE REGION $ $ NARANGBA $350 7 $ BURPENGARY $ $ MORAYFIELD/ MOORINA $310 9 $ BANKSIA BEACH/ BELLARA/ BONGAREE/ BRIBIE IS/ WOORIM $345 6 $ DECEPTION BAY $ $ CABOOLTURE/ BEACHMERE/ DONNYBROOK/ 4510 BALINGOOL/ BELLMERE/ MELEDALE/ $ $ MOODLU/ ROCKSBERG/ TOORBUL 4511 GODWIN BEACH/ NINGI/ SANDSTONE PT/ $350 TOORBUL PT 13 PINE RIVERS REGION $ $ ALBANY CK/ BRIDGEMAN DOWNS/ CASHS CROSSING $ $ BRAY PK/ BRENDALE/ CASHMERE/ 4500 CLEAR MOUNTAIN/ JOYNER/ $ $ STRATHPINE/ WARNER 4501 LAWNTON $ $ FRENCHS FOREST/ PETRIE $ $ DAKABIN/ DOHLES ROCKS/ GRIFFIN/ KALLANGUR/ KURWONGBAH $ $ MANGO HILL $ $ REDCLIFFE REGION $ $ CLONTARF/ HUMPYBONG/ MARGATE/ SCOTTS PT/ WOODY PT $355 9 $ REDCLIFFE/ SCARBOROUGH/ NEWPORT WATERS/ SUTTONS BCH $ $ KIPPA-RING $ $ REDLAND CITY $ $ CAPALABA/ SHELDON $ $ THORNSIDE $ $ ORMISTON/ WELLINGTON PT/ EROBIN $ $ CLEVELAND/ RABY BAY $ $ THORNLANDS/ PINKLANDS $ N/A MT COTTON/ PT HALLORAN/ PT TALBURPIN/ REDLAND BAY/ VICTORIA PT $ $ <$250k $250K+ $350K+ $500k+ MARCH QUARTER

20 REGIONAL MARKET UPDATES GOLD COAST The Gold Coast residential property market is one of the strongest in Queensland, reporting the largest annual increase in median sale price for houses of 5.8 per cent and the second largest increase in a five-year period of 10.2 per cent. The annual volume of sales to March for both houses and units showed a moderate upward trend, demonstrating an improvement in the level of activity which has not been common across other Queensland regions outside the southeast corner. The positive performance is not a surprise with large amount of investment injected in the area ahead of the hosting of the 2018 Commonwealth Games. Recent Government announcements indicate that the Commonwealth Games will add about 30,000 full-time equivalent jobs and generate more than $2 billion in economic benefits. The Commonwealth Games is playing a critical role improving the infrastructure in the region. For example, the State Government has recently announced a $25 million investment in the electricity network to ensure reliability of the electricity supply during the Games and also in the long-term for the city. Another important project is the $420 million Gold Coast light rail extension, which is expected to generate an increase of about 1000 jobs during construction. The entertainment industry has also benefited from the Commonwealth Games. The recently built $15.5 million mega sound stage is currently attracting international interest. The Games have brought economic benefits and employment to the region and the event is having a positive impact on the residential property market. The medium to long-term challenge post-2018 will be to maintain the current level of employment. HOUSE MARKET The median sale price for the March quarter remained relatively steady, reaching $557,500. The largest volume of activity in the region sits in the price range of $500,000 to $1 million. Over a 12 month period to March 2016, the median sale price increased by 5.8 per cent to $550,000. The suburbs showing the best performance in a year were Mermaid Beach, Bundall and Hope Island, with an annual median sale price of $1,225,000, $927,500 and $630,000, respectively. The annual sales activity for houses reported an increase of 167 more houses sold or the equivalent to 2.3 per cent. The average days on market at 68 days in February 2016 remained in the low-end range of Queensland. The average vendor discount reduced from six per cent in February 2015 to 5.4 per cent in February 2016 a clear symptom of an active market experiencing moderate to strong buyer demand. UNIT MARKET The unit market in the Gold Coast increased moderately over the 12 months to March from $365,000 to $372,000. And even the quarterly price was relatively stable. Over the medium term, the median sale price showed a slight reduction from $375,000 to $372,000. The largest volume of activity in the unit market sits in the $250,000 to $500,000 median sale price range. The annual volume of sales to March 2016 (compared with March 2015), reported a minor increase of 53 more houses sold. A few financial institutions have classified some of the Gold Coast suburbs as potentially having an oversupply of new and established apartments. The minimum deposit requirement for these so-called riskier suburbs is now 30 per cent compared to a standard deposit requirement of 20 per cent. The average days on market is sitting below three months and the average vendor discount reduced from 6.5 per cent in February 2015 to 5.7 per cent in February RENTAL MARKET The rental market performance, measured using the vacancy rates, has generally remained above 1.5 per cent over the past three years. The outlook for the market is positive over the next two years, considering the influx of temporary employees to support the Commonwealth Games. The median weekly rent for three-bedroom houses, twobedroom units and three-bedroom townhouses have all risen between $15 and $25 per week. This has supported the slight increase in gross rental yields for houses from 4.2 per cent in December to 4.3 per cent in March and in units from 5.3 per cent in December to 5.5 per cent in March. 20 QUEENSLAND MARKET MONITOR

21 REGIONAL MARKET UPDATES S MARKET - HOUSES S MARKET - UNITS & TOWNHOUSES S S GOLD COAST (LGA) 1452 $557, % $550, % 10.2% $499,000 GOLD COAST (LGA) ^ 138 $723, % $730, % 5.0% $695,000 ARUNDEL 36 $535, % $530, % 14.0% $465,000 ASHMORE 43 $535, % $525, % 14.1% $460,000 BENOWA 26 $728, % $765, % 2.0% $750,000 BIGGERA WATERS 16 N/A N/A $651, % 44.7% $450,000 BONOGIN ^ 12 N/A N/A $695, % 2.2% $680,000 BROADBEACH WATERS 41 $950, % $857, % 13.5% $755,000 BUNDALL 16 N/A N/A $927, % -3.0% $956,000 BURLEIGH HEADS 24 $800, % $703, % 21.4% $580,000 BURLEIGH WATERS 43 $660, % $688, % 25.1% $550,000 CARRARA 28 $535, % $503, % 17.1% $430,000 CLEAR ISLAND WATERS 14 N/A N/A $1,000, % 33.0% $752,000 COOLANGATTA 6 N/A N/A $762, % 26.5% $602,500 COOMBABAH 29 $425, % $437, % 2.9% $425,000 COOMERA 24 $414, % $447, % 11.8% $400,000 CURRUMBIN 8 N/A N/A $780, % 30.0% $600,000 CURRUMBIN VALLEY ^ 4 N/A N/A $768, % 2.1% $752,500 CURRUMBIN WATERS 29 $532, % $570, % 16.3% $490,000 ELANORA 38 $600, % $573, % 9.2% $525,000 GILSTON 8 N/A N/A $540, % 5.9% $510,000 HELENSVALE 59 $577, % $550, % 12.2% $490,000 HIGHLAND PARK 22 $477, % $477, % 11.4% $428,750 HOLLYWELL 23 $610, % $617, % 10.3% $560,000 HOPE ISLAND 28 $652, % $630, % 8.2% $582,500 JACOBS WELL 5 N/A N/A $420, % -0.9% $424,000 LABRADOR 25 $485, % $480, % 12.9% $425,000 LOWER BEECHMONT 3 N/A N/A $365, % -8.1% $397,500 MAUDSLAND 7 N/A N/A $466, % 1.3% $460,000 MERMAID BEACH 7 N/A N/A $1,225, % 8.2% $1,132,500 MERMAID WATERS 32 $720, % $760, % 23.6% $615,000 MERRIMAC 15 N/A N/A $467, % 12.7% $415,000 MIAMI 12 N/A N/A $648, % 21.1% $535,000 MOLENDINAR 11 N/A N/A $560, % 11.2% $503,495 MUDGEERABA 36 $515, % $504, % 9.4% $461,500 MUDGEERABA ^ 5 N/A N/A $700, % 2.6% $682,500 NERANG 63 $399, % $402, % 7.9% $373,000 NERANG ^ 5 N/A N/A $790, % 5.3% $750,000 ORMEAU 58 $450, % $445, % 1.1% $440,000 ORMEAU HILLS 19 N/A N/A $485, % 3.2% $470,000 OXENFORD 43 $463, % $463, % 2.3% $452,500 PACIFIC PINES 57 $527, % $486, % 5.8% $460,000 PALM BEACH 48 $695, % $675, % 23.9% $545,000 PARADISE POINT 21 $900, % $900, % 8.1% $832,500 PARKWOOD 25 $540, % $540, % 12.2% $481,250 PIMPAMA 14 N/A N/A $430, % 11.4% $386,000 REEDY CREEK 16 N/A N/A $707, % 10.8% $638,750 ROBINA 72 $625, % $616, % 14.6% $538,000 RUNAWAY BAY 29 $1,040, % $937, % 21.8% $770,000 SOUTHPORT 55 $555, % $530, % 14.0% $465,000 SURFERS PARADISE 22 $1,392, % $1,250, % -2.0% $1,275,000 TALLAI ^ 9 N/A N/A $850, % 14.1% $745,000 TALLEBUDGERA ^ 8 N/A N/A $807, % 5.2% $767,500 TALLEBUDGERA VALLEY ^ 8 N/A N/A $750, % 2.0% $735,000 TUGUN 16 N/A N/A $520, % 16.9% $445,000 UPPER COOMERA 127 $457, % $437, % 5.4% $414,500 VARSITY LAKES 34 $592, % $551, % 14.8% $480,000 WONGAWALLAN ^ 9 N/A N/A $628, % -2.6% $645,000 WORONGARY 9 N/A N/A $425, % 4.9% $405,000 WORONGARY ^ 7 N/A N/A $730, % 16.8% $625,000 GOLD COAST (LGA) 1936 $375, % $372, % -0.8% $375,000 ARUNDEL 11 N/A N/A $321, % -1.2% $325,000 ASHMORE 16 N/A N/A $304, % -1.9% $310,000 BENOWA 17 N/A N/A $537, % 9.6% $490,000 BIGGERA WATERS 69 $350, % $427, % 23.8% $345,000 BILINGA 10 N/A N/A $480, % -9.9% $532,500 BROADBEACH 105 $440, % $438, % -8.2% $477,500 BROADBEACH WATERS 15 N/A N/A $445, % 9.9% $404,750 BUNDALL 4 N/A N/A $320, % -3.0% $330,000 BURLEIGH HEADS 74 $416, % $410, % 6.1% $386,250 BURLEIGH WATERS 34 $385, % $375, % 6.7% $351,500 CARRARA 47 $355, % $407, % -4.1% $425,000 CLEAR ISLAND WATERS 7 N/A N/A $440, % -9.7% $487,500 COOLANGATTA 55 $640, % $470, % 5.0% $447,500 COOMBABAH 31 $338, % $332, % -2.2% $340,000 COOMERA 56 $454, % $352, % 12.7% $312,950 CURRUMBIN 16 N/A N/A $467, % 19.3% $391,500 CURRUMBIN WATERS 18 N/A N/A $342, % 4.6% $327,000 ELANORA 24 $338, % $342, % 1.9% $336,000 HELENSVALE 33 $397, % $410, % 0.0% $410,000 HIGHLAND PARK 13 N/A N/A $275, % -6.5% $294,250 HOLLYWELL 4 N/A N/A $655, % -48.1% $1,262,500 HOPE ISLAND 94 $615, % $590, % 38.8% $425,000 LABRADOR 103 $330, % $322, % 1.9% $316,000 MAIN BEACH 24 $580, % $630, % 4.1% $605,000 MERMAID BEACH 65 $355, % $350, % -5.4% $370,000 MERMAID WATERS 29 $369, % $369, % 15.3% $320,000 MERRIMAC 20 $320, % $327, % -22.4% $422,000 MIAMI 28 $404, % $405, % 10.2% $367,500 MUDGEERABA 19 N/A N/A $321, % -4.1% $335,000 NERANG 41 $311, % $300, % -1.6% $305,000 ORMEAU 8 N/A N/A $350, % -5.4% $370,000 OXENFORD 13 N/A N/A $292, % 0.9% $290,000 PACIFIC PINES 16 N/A N/A $342, % -9.5% $378,500 PALM BEACH 72 $360, % $350, % -5.4% $370,000 PARADISE POINT 20 $537, % $620, % 22.2% $507,500 PARKWOOD 11 N/A N/A $320, % 1.6% $315,000 PIMPAMA 8 N/A N/A $346, % -5.4% $365,900 REEDY CREEK 33 $310, % $307, % -4.8% $322,500 ROBINA 59 $412, % $422, % -9.2% $465,000 RUNAWAY BAY 45 $409, % $462, % 30.8% $353,500 SOUTHPORT 141 $340, % $344, % 1.3% $340,000 SURFERS PARADISE 279 $365, % $349, % -9.2% $385,000 TUGUN 27 $396, % $395, % -4.1% $412,000 UPPER COOMERA 24 $330, % $330, % -4.9% $347,000 VARSITY LAKES 57 $410, % $405, % 1.8% $398,000 MARCH QUARTER

22 REGIONAL MARKET UPDATES S MARKET - VACANT LAND S RENTAL MARKET - 3 BED HOUSES GOLD COAST (LGA) 123 $239, % $240, % 0.7% $238,261 GOLD COAST (LGA) ^ 22 $357, % $390, % -9.3% $430,000 COOMERA 19 N/A N/A $238, % 13.8% $209,500 ELANORA 0 N/A N/A $290, % -7.9% $315,000 GILSTON 2 N/A N/A $285, % 14.0% $250,000 HELENSVALE 4 N/A N/A $500, % -9.1% $550,000 HOPE ISLAND 0 N/A N/A $481, % 37.5% $350,000 MAUDSLAND 0 N/A N/A $235, % -9.6% $260,000 ORMEAU 5 N/A N/A $235, % -10.6% $263,000 ORMEAU HILLS 2 N/A N/A $219, % -0.1% $220,050 PACIFIC PINES 2 N/A N/A $223, % -4.9% $235,350 PIMPAMA 61 $235, % $240, % 9.1% $219,950 REEDY CREEK 6 N/A N/A $355, % 5.4% $336,738 UPPER COOMERA 8 N/A N/A $239, % 0.2% $239,500 WILLOW VALE 3 N/A N/A $217, % N/A N/A POST MAR-16 MAR-15 CODE LOCALITY L $/WEEK NEW BONDS $/WEEK NEW BONDS GOLD COAST CITY $ $ GILBERTON/ JACOBS WELL/ ORMEAU $ $ CANOWINDRA/ COOMERA/ PIMPAMA/ WILLOW VALE/ YAWALPAH $ $ OXENFORD/ STUDIO VILLAGE/ WONGAWALLAN $ $ ADVANCETOWN/ BEECHMONT/ BINNA BURRA/CARRARA/ GAVEN/ NERANG $ $ BOYKAMBIL/ HELENSVALE/ HOPE ISLAND/ SANCTUARY COVE $ $ AUSTINVILLE/ MUDGEERABA/ SPRINGBROOK/ TALLAI/ WORONGARY $ $ ARUNDEL/ ASHMORE/ ERNEST/ PARKWOOD $ $ CHIRN PK/ SOUTHPORT/ LABRADOR/ KEEBRA PK $ $ BIGGERA WTRS/ COOMBABAH/ $450 HOLLYWELL/ PARADISE PT/ RUNAWAY BAY 55 $ BENOWA/ BUNDALL/ MAIN BCH/ SORRENTO/ SURFERS PARADISE $ $ BROADBEACH/ MERMAID BCH/ NOBBY BCH/ RIALTO $ $ ANDREWS/ BURLEIGH/ MIAMI/ TALLY VALLEY $ $ ELANORA/PALM BCH $ $ CURRUMBIN/ CURRUMBIN VALLEY $ $ TUGUN $ N.A KERRYDALE/ MERRIMAC/ ROBINA $ $ REEDY CK/ STEPHENS/ VARSITY LAKES $ $ SCENIC RIM REGIONAL $ $ TAMBORINE/ BIDDADDABA/ BOYLAND/ MUNDOOLUN/ WONGLEPONG $400 8 N/A MT TAMBORINE $ $ BEAUDESERT/ CEDAR VALE/ INNISPLAIN/ $310 KOORALBYN/ LAMINGTON/ ETC 44 $ ARATULA/ KALBAR $285 7 $ BOONAH/ DUGANDEN/ MT ALFORD $ $ RENTAL MARKET - 2 BED UNITS POST MAR-16 MAR-15 CODE LOCALITY L $/WEEK NEW BONDS $/WEEK NEW BONDS GOLD COAST CITY $ $ CANOWINDRA/ COOMERA/ PIMPAMA/ WILLOW VALE/ YAWALPAH $305 8 $ OXENFORD/ STUDIO VILLAGE/ WONGAWALLAN $ $ ADVANCETOWN/ BEECHMONT/ BINNA BURRA/ CARRARA/ GAVEN/ NERANG $ $ BOYKAMBIL/ HELENSVALE/ HOPE ISLAND/ SANCTUARY COVE $ $ ARUNDEL/ ASHMORE/ ERNEST/ PARKWOOD $ $ CHIRN PK/ SOUTHPORT/ LABRADOR/ KEEBRA PK $ $ BIGGERA WTRS/ COOMBABAH/ $410 HOLLYWELL/ PARADISE PT/ RUNAWAY BAY 237 $ BENOWA/ BUNDALL/ MAIN BCH/ SORRENTO/ SURFERS PARADISE $ $ BROADBEACH/ MERMAID BCH/ NOBBY BCH/ RIALTO $ $ ANDREWS/ BURLEIGH/ MIAMI/ TALLY VALLEY $ $ ELANORA/ PALM BCH $ $ CURRUMBIN/ CURRUMBIN VALLEY $ $ TUGUN $ $ BILINGA/ COOLANGATTA/ GREENMOUNT/ $370 KIRRA/ RAINBOW BAY 103 $ KERRYDALE/ MERRIMAC/ ROBINA $ $ REEDY CK/ STEPHENS/ VARSITY LAKES $ $ SCENIC RIM REGIONAL $ $ BEAUDESERT/ CEDAR VALE/ INNISPLAIN/ $235 KOORALBYN/ LAMINGTON/ ETC 24 $ RENTAL MARKET - 3 BED TOWNHOUSES POST MAR-16 MAR-15 CODE LOCALITY L $/WEEK NEW BONDS $/WEEK NEW BONDS GOLD COAST CITY $ $ GILBERTON/ JACOBS WELL/ ORMEAU $390 9 $ CANOWINDRA/ COOMERA/ PIMPAMA/ WILLOW VALE/ YAWALPAH $ $ OXENFORD/ STUDIO VILLAGE/ WONGAWALLAN $360 7 $ ADVANCETOWN/ BEECHMONT/ BINNA BURRA/ CARRARA/ GAVEN/ NERANG $ $ BOYKAMBIL/ HELENSVALE/ HOPE ISLAND/ SANCTUARY COVE $ $ AUSTINVILLE/ MUDGEERABA/ SPRINGBROOK/ TALLAI/ WORONGARY $ $ ARUNDEL/ ASHMORE/ ERNEST/ PARKWOOD $ $ CHIRN PK/ SOUTHPORT/ LABRADOR/ KEEBRA PK $ $ BIGGERA WTRS/ COOMBABAH/ HOLLYWELL/ PARADISE PT/ RUNAWAY BAY $ $ BENOWA/ BUNDALL/ MAIN BCH/ SORRENTO/ SURFERS PARADISE $ $ BROADBEACH/ MERMAID BCH/ NOBBY BCH/ RIALTO $ $ ANDREWS/ BURLEIGH/ MIAMI/ TALLY VALLEY $ $ ELANORA/ PALM BCH $ $ CURRUMBIN/ CURRUMBIN VALLEY $ $ TUGUN $ $ KERRYDALE/ MERRIMAC/ ROBINA $ $ REEDY CK/ STEPHENS/ VARSITY LAKES $ $ GOLD COAST HOUSE S TOOWOOMBA HOUSE S GOLD COAST UNIT S , , <$350K $350K+ $500k+ $1M+ Houses<2,400m <$250k <$350K $250K+ $350K+ $350K+ $500k+ $1M+ $500k+ Houses<2,400m 22 QUEENSLAND MARKET MONITOR

23 REGIONAL MARKET UPDATES GOLD COAST LAND S <$250k $250K+ $350K+ $500k+ $1M+ MARCH QUARTER

24 REGIONAL MARKET UPDATES TOOWOOMBA Toowoomba has continued to be a strong performer in the Queensland property market and employment growth is boosted with projects such as the Second Range Crossing and the Grand Central QIC redevelopment. The residential property market is stable and the major infrastructure projects in the pipeline will support continued moderate growth and stability in the region. The volume of activity has being easing over the past few quarters, however this has not triggered a reduction in prices as the value of properties is holding steady. The rental market will benefit from the population growth sparked by the large infrastructure projects. The current arrangement with the Second Range Crossing-winning consortium Nexus requires them to employ only people living within 70km radius of the project. This requirement supports a positive outlook for the residential market in Toowoomba and ensures the project multiplier effects remain in the region. HOUSE MARKET The residential sales activity for houses showed a contraction of about 550 properties over the 12 months to March Despite this contraction, the annual median sale price showed a modest increase of one per cent over the 12 months to March, reaching $352,500. Owner-occupiers with a price range below $500,000 are leading the activity in the property market. Buyers are more cautious and there is not a sense of urgency in the market. Similarly, vendors are holding listings and assessing the market prior to making decisions to list their properties. Average days on market at 72 days for February 2016 remain around similar levels than Greater Brisbane and even lower than the Sunshine Coast. Vendor discount was sitting at a healthy level around 5.9 per cent in February However, it has increased from 4.7 per cent in February 2015 due to higher price expectations from vendors. The medium-term growth (five years) of the median sale price was 19.5 per cent to March This represented a stable and healthy annual increase in the house property market of about 3.6 per cent. UNIT MARKET New unit developments in Toowoomba are now characterised as providing more value for money as they offer larger space and better quality. Developers have realised that there is growing demand in the top-end price market compared to smaller two-bedroom units. The annual median sale price for units was $310,000 in March 2016, increasing by 3.7 per cent for the year. The quarterly median sale price also reported a solid increase of 2.4 per cent. The five-year median sale price growth for the units market exceeded the house market and reached an overall growth rate of 26.5 per cent, which is equivalent to an annual growth of about 4.8 per cent. The unit market activity measured by the volume of sold property reduced in the March quarter similar to the house market. However, this contraction did not appear Houses<2,400m TOOWOOMBA HOUSE S 92 TOOWOOMBA UNIT S <$250k $250K+ $350K+ $500k+ TOOWOOMBA LAND S <$350K $350K+ $500k <$250k $250K+ $350K+ to have had an impact on sale prices. Vendor discount remained below five per cent and still sits at healthy levels, despite the increase in the days on market which was about three months in February RENTAL MARKET Vacancy rates for Toowoomba remained at around three per cent for the March quarter. The influx of new units coming onto the market and the easing in land size requirements for new houses in 2014 triggered an increase in the vacancy rates, which prior to 2014 remained within the one-to-two per cent range. Local agents forecast a stable rental market over the next six months. The outlook beyond 6-12 months is promising with a potential increase in demand to provide housing to workers and employees of the Second Range Crossing project. Local agents indicate that there are about 175 vacant properties in the market and landlords are deciding to keep rents unchanged or in some instances giving a small discount to tenants. Demand for three-bedroom townhouses remains stronger compared to other type of properties with a weekly median sale price reporting an increase from $320 to $330 over the 12 month period to March Other types of properties showed stable weekly median rents or a small reduction of about 1.2 per cent over a similar period QUEENSLAND MARKET MONITOR

25 S MARKET - HOUSES S TOOWOOMBA (LGA) 409 $352, % $352, % 19.5% $295,000 TOOWOOMBA (LGA) ^ 83 $490, % $502, % 14.2% $440,000 CENTENARY HEIGHTS 27 $377, % $367, % 24.2% $296,000 CROWS NEST 8 N/A N/A $240, % 1.1% $237,500 DARLING HEIGHTS 9 N/A N/A $353, % 16.1% $304,500 EAST TOOWOOMBA 15 N/A N/A $442, % 20.4% $367,500 GLENVALE 20 $357, % $360, % 12.9% $318,750 GLENVALE ^ 4 N/A N/A $520, % 14.0% $456,250 HARLAXTON 5 N/A N/A $280, % 14.3% $245,000 HARRISTOWN 29 $335, % $321, % 21.2% $265,000 HIGHFIELDS 6 N/A N/A $459, % 9.4% $419,900 HIGHFIELDS ^ 15 N/A N/A $525, % 20.7% $435,000 KEARNEYS SPRING 24 $368, % $369, % 16.2% $317,500 KINGSTHORPE 6 N/A N/A $312, % 25.9% $248,250 KLEINTON 3 N/A N/A $510, % 30.4% $391,000 MERINGANDAN WEST ^ 6 N/A N/A $380, % 14.8% $331,000 MIDDLE RIDGE 18 N/A N/A $491, % 13.5% $433,000 MOUNT LOFTY 18 N/A N/A $465, % 40.1% $332,000 NEWTOWN 50 $297, % $306, % 19.8% $256,000 NORTH TOOWOOMBA 7 N/A N/A $308, % 19.5% $258,000 OAKEY 8 N/A N/A $235, % 0.9% $233,000 PITTSWORTH 7 N/A N/A $285, % 1.8% $280,000 RANGEVILLE 24 $403, % $420, % 14.8% $366,000 ROCKVILLE 6 N/A N/A $271, % 5.6% $257,000 SOUTH TOOWOOMBA 20 $337, % $341, % 23.4% $276,500 TOOWOOMBA CITY 7 N/A N/A $350, % 32.6% $264,000 WESTBROOK 16 N/A N/A $443, % 10.9% $400,000 WILSONTON 19 N/A N/A $315, % 15.5% $272,750 WILSONTON HEIGHTS 7 N/A N/A $299, % 21.3% $246,500 WYREEMA 7 N/A N/A $347, % 19.1% $291,250 RENTAL MARKET - 3 BED HOUSES REGIONAL MARKET UPDATES POST MAR-16 MAR-15 CODE LOCALITY L $/WEEK NEW BONDS $/WEEK NEW BONDS TOOWOOMBA REGIONAL $ $ CENTENARY HEIGHTS/ DARLING HEIGHTS/ DRAYTON/ GLENVALE/ 4350 HARLAXTON/ HARRISTOWN/ KEARNEY $304 SPRINGS/ MIDDLE RIDGE/ MOUNT LOFTY/ 508 $ NEWTOWN/ RANGEVILLE/ ROCKVILLE/ TOOWOOMBA/ WESTBROOK/ WILSONTON CABARLAH/ GOWRIE JUNCTION/ 4352 HAMPTON/ HIGHFIELDS/ HODGSON VALE/ KLEINTON/ MERINGANDAN, $ $ RAVENSBOURNE/ WITHCOTT/ WYREEMA 4355 CROWS NEST/ EMU CREEK $ $ PITTSWORTH/ MOUNT TYSON $ $ MILLMERRAN $ $ CAMBOOYA, RAMSAY $290 6 N/A CLIFTON $ $ KINGSTHORPE $275 5 N/A OAKEY GOONDIWINDI REGIONAL $ $ INGLEWOOD $200 5 N/A GOONDIWINDI $ $ SOUTHERN DOWNS REGIONAL $ $ ALLORA, HENDON/ TALGAI/ BERAT/ DEUCHAR $250 7 $ WARWICK/ ROSENTHAL HEIGHTS, WOMINA/ FREESTONE/ MARYVALE $ $ STANTHORPE/ BROADWATER/ MOUNT 4380 TULLY/ SEVERNLEA/ SUGARLOAF/ $ $ GREENLANDS/ PIKEDALE/ EUKEY WESTERN DOWNS REGIONAL $ $ DALBY $ $ JANDOWAE $180 5 N/A N/A 4413 CHINCHILLA $ $ MILES SURROUNDS GOONDIWINDI (LGA) 14 N/A N/A $232, % 1.1% $230,000 GOONDIWINDI 10 N/A N/A $275, % 2.0% $270,000 SOUTHERN DOWNS (LGA) 73 $233, % $235, % -4.1% $245,000 SOUTHERN DOWNS (LGA) ^ ~ 35 $342, % $337, % 4.7% $322,500 STANTHORPE 18 N/A N/A $235, % -6.0% $250,000 WARWICK 41 $240, % $242, % -1.2% $245,000 WESTERN DOWNS (LGA) 28 $230, % $220, % -16.7% $264,000 WESTERN DOWNS (LGA) ^ 13 N/A N/A $340, % -2.9% $350,000 CHINCHILLA 7 N/A N/A $246, % -16.0% $293,000 DALBY 14 N/A N/A $240, % -7.5% $259,500 DALBY ^ 6 N/A N/A $411, % 8.8% $378,500 S MARKET - UNITS & TOWNHOUSES TOOWOOMBA (LGA) 100 $315, % $310, % 26.5% $245,000 CENTENARY HEIGHTS 9 N/A N/A $329, % 22.6% $268,250 EAST TOOWOOMBA 8 N/A N/A $341, % 26.5% $270,000 HARRISTOWN 8 N/A N/A $237, % 8.0% $220,000 HIGHFIELDS 1 N/A N/A $320, % -8.6% $350,000 KEARNEYS SPRING 11 N/A N/A $314, % 25.8% $250,000 NEWTOWN 9 N/A N/A $259, % 17.7% $220,000 RANGEVILLE 5 N/A N/A $372, % 29.3% $288,000 SOUTH TOOWOOMBA 15 N/A N/A $331, % 38.0% $240,000 WILSONTON 5 N/A N/A $240, % 13.1% $212,250 S MARKET - VACANT LAND TOOWOOMBA (LGA) 27 $169, % $170, % 17.2% $145,000 TOOWOOMBA (LGA) ^ 20 $221, % $185, % 19.4% $155,000 CRANLEY 1 N/A N/A $174, % 22.0% $143,000 GLENVALE 4 N/A N/A $170, % 18.9% $143,000 KEARNEYS SPRING 2 N/A N/A $181, % 12.5% $161,500 KLEINTON 2 N/A N/A $188, % 26.9% $148,500 MIDDLE RIDGE 2 N/A N/A $270, % 34.2% $201,500 WESTBROOK 1 N/A N/A $167, % 35.1% $124,000 WYREEMA 1 N/A N/A $160, % 30.6% $122,500 SURROUNDS SOUTHERN DOWNS (LGA) 18 N/A N/A $89, % -1.1% $90,000 RENTAL MARKET - 2 BED UNITS TOOWOMBA REGIONAL $ $ CENTENARY HEIGHTS/ DARLING HEIGHTS/ DRAYTON/ GLENVALE/ 4350 HARLAXTON/ HARRISTOWN/ KEARNEY $255 SPRINGS/ MIDDLE RIDGE/ MOUNT LOFTY/ 458 N/A 392 NEWTOWN/ RANGEVILLE/ ROCKVILLE/ TOOWOOMBA/ WESTBROOK/ WILSONTON CABARLAH/ GOWRIE JUNCTION/ 4352 HAMPTON/ HIGHFIELDS/ HODGSON VALE/ KLEINTON/ MERINGANDAN/ $300 9 N/A 3 RAVENSBOURNE/ WITHCOTT/ WYREEMA 4401 OAKEY $215 8 $ YARRAMAN $140 5 N/A 3 GOONDIWINDI REGIONAL $ $ GOONDIWINDI $ $ SOUTHERN DOWNS REGIONAL $ $ WARWICK/ ROSENTHAL HEIGHTS/ WOMINA/ FREESTONE/ MARYVALE $ $ STANTHORPE/ BROADWATER/ MOUNT TULLY/ SEVERNLEA/ SUGARLOAF/ $230 8 $ GREENLANDS/ PIKEDALE/ EUKEY WESTERN DOWNS REGIONAL $ $ DALBY $ $ CHINCHILLA $ $ RENTAL MARKET - 3 BED TOWNHOUSES TOOWOOMBA REGIONAL $ $ CENTENARY HEIGHTS/ DARLING HEIGHTS/ DRAYTON/ GLENVALE/ 4350 HARLAXTON/ HARRISTOWN/ KEARNEY $330 SPRINGS/ MIDDLE RIDGE/ MOUNT LOFTY/ 38 $ NEWTOWN/ RANGEVILLE/ ROCKVILLE/ TOOWOOMBA/ WESTBROOK/ WILSONTON SOUTHERN DOWNS REGIONAL COUNCIL $ $ WARWICK/ ROSENTHAL HEIGHTS/ WOMINA/ FREESTONE/ MARYVALE $250 8 N/A 3 WESTERN DOWNS REGIONAL $ $ DALBY $230 6 N/A N/A 4413 CHINCHILLA $ $230 7 MARCH QUARTER

26 REGIONAL MARKET UPDATES SUNSHINE COAST The Sunshine Coast residential property market has performed positively over the past 12 months, reporting one of the largest annual median sale price growths in Queensland, equivalent to four per cent for houses and 5.6 per cent for units. The medium-term performance (five-year outlook) has also been positive (9.1 per cent for houses and 2.7 per cent for units), however the largest increase occurred over the last year. Confidence from investors in the Sunshine Coast slowed down slightly during the first quarter of the year due to the negative gearing debate, which is not helping to overcome the lack of rental stock in the area. The largest projects in the region are the Sunshine Coast University Hospital due for completion in 2017 and the $347 million Sunshine Coast airport runway expansion still in the feasibility stage. The latest has been approved by the State Government with conditions and it is currently under review by the Federal Government. The Sunshine Coast airport runway expansion will potentially generate 80 jobs and an estimated multiplier effect in the economy of $140 million during the construction period. The long-term benefit of the project is forecast to reach about $4 billion from 2020 to Other potential development projects are Maroochydore City Centre, Sunshine Coast Light Rail project, International Submarine Broadband Cable, Caloundra CBD project, amongst others. All of these projects are still in the early stages and without funding certainty. The Sunshine Coast is one of the state s regions with largest economic potential. The proposed Sunshine Coast airport will provide the investment to boost economic growth, employment opportunities and to support a positive outlook for the residential property market. HOUSE MARKET The March quarter reported a slight increase in the median sale price from $505,000 to $510,000 for houses in the Sunshine Coast local government area. The quarterly median sale price in Noosa fell by 2.6 per cent, from $562,000 to $547,500. Despite this reduction, Noosa remains more expensive than other areas in the Sunshine Coast. However the gap appears to be closing. In February 2016, the average days on market in the Sunshine Coast remained relatively steady and close SUNSHINE COAST & NOOSA HOUSE S to three months while the vendor discount was a very pleasing 5.6 per cent. The Noosa house market performed slightly less favourably than the Sunshine Coast local government area. The average days on market in Noosa remained above 100 days and the vendor discount was 6.6 per cent. This was equivalent to about 20 more days and one per cent more than the Sunshine Coast local government area. As at February 2016, the number of listings reduced by 21.2 per cent or 2,338 number of listings. This continues being a key issue in the region and has also impacted on the volume of sales. The largest activity in the house market is sitting in the price range between $500,000 and $1 million. The volume of sales for this price range reduced from 700 in September 2015 to 630 in December Preliminary data indicates also a reduction to 503 sales in the March quarter. UNIT MARKET The unit market has remained relatively steady over the March quarter with the median sale price increasing slightly to $385,000 in the Sunshine Coast statistical division. The Noosa unit market increased by 11.7 per cent in a 12-month period to March, reaching an annual median sale price of $440,000. The five year change in median sale price in Noosa increased slightly by 1.1 per cent, demonstrating large volatility in the market and a recovery period over the past 12 months. The annual unit sales activity reduced by 547 sales or about 12.9 per cent for the Sunshine Coast statistical division. On the other hand, Noosa only reported an annual reduction in the number of sales of 11 units to March, which may in fact turned into an annual increase once the preliminary March quarter data is updated. The average days on market for units is slightly larger compared to houses and reached about 3.5 months in February The vendor discount sits between six and seven per cent for the Sunshine Coast region and remains close but still slightly higher than other areas in the southeast corner. RENTAL MARKET Sunshine Coast and Noosa vacancy rates remain generally tight and below the healthy range (1.5 per cent). New developments to meet rental demand appear to be insufficient in the region. Weekly median rent in Noosa increased by $10 or 2.3 per cent for three bedroom houses, $30 or 8.3 per cent for two bedroom units and $60 or 13 per cent for three bedroom townhouses over the past 12 months to March <$350K $350K+ $500k+ $1M+ Houses<2,400m 48 The increase in the median weekly rent in Sunshine Coast regional is slower compared to Noosa, but still demand appears to be exceeding supply and local agents keep hunting for rental stock. 26 QUEENSLAND MARKET MONITOR

27 REGIONAL MARKET UPDATES S MARKET - HOUSES S MARKET - HOUSES (CONT D) S S SUNSHINE COAST (SD) 1025 $515, % $507, % 9.1% $465,000 SUNSHINE COAST (SD) ^ 204 $580, % $607, % 7.0% $567,500 SUNSHINE COAST (LGA) 878 $510, % $500, % 9.6% $456,000 SUNSHINE COAST (LGA) ^ 129 $592, % $615, % 10.8% $555,000 ALEXANDRA HEADLAND 2 N/A N/A $900, % 30.7% $688,500 AROONA 13 N/A N/A $497, % 13.1% $440,000 BATTERY HILL 14 N/A N/A $466, % 12.4% $415,000 BEERWAH 22 $436, % $397, % -1.8% $405,000 BIRTINYA 4 N/A N/A $575, % 0.9% $570,000 BLI BLI 25 $462, % $455, % 13.8% $400,000 BOKARINA 4 N/A N/A $593, % 27.4% $466,000 BUDDINA 13 N/A N/A $615, % 0.4% $612,486 BUDERIM 104 $575, % $565, % 8.1% $522,750 BUDERIM ^ 1 N/A N/A $886, % -8.7% $970,000 BURNSIDE 14 N/A N/A $412, % 7.8% $382,500 CALOUNDRA WEST 41 $469, % $450, % 7.8% $417,471 COES CREEK 7 N/A N/A $379, % -3.9% $394,500 COOLUM BEACH 24 $567, % $530, % 15.3% $460,000 CURRIMUNDI 19 N/A N/A $470, % 11.0% $423,250 DICKY BEACH 5 N/A N/A $771, % 51.2% $510,000 EUMUNDI 3 N/A N/A $517, % 45.8% $355,000 EUMUNDI ^ 2 N/A N/A $710, % 14.5% $620,000 GLASS HOUSE MOUNTAINS 13 N/A N/A $422, % -0.6% $425,000 GLASS HOUSE MOUNTAINS ^ 4 N/A N/A $525, % 11.7% $470,000 GOLDEN BEACH 26 $504, % $485, % 7.3% $452,000 KULUIN 15 N/A N/A $445, % 14.5% $388,500 LANDSBOROUGH 10 N/A N/A $367, % -3.3% $380,000 LITTLE MOUNTAIN 30 $532, % $527, % 15.4% $457,000 MALENY 12 N/A N/A $459, % 6.3% $432,000 MALENY ^ 6 N/A N/A $562, % -4.0% $586,000 MARCOOLA 12 N/A N/A $530, % 17.7% $450,170 MAROOCHYDORE 37 $547, % $520, % 14.9% $452,500 MERIDAN PLAINS 5 N/A N/A $429, % 2.3% $420,000 MINYAMA 5 N/A N/A $1,000, % 8.7% $920,000 MOFFAT BEACH 6 N/A N/A $633, % 13.1% $560,000 MOOLOOLABA 24 $640, % $650, % 25.2% $519,050 MOOLOOLAH VALLEY 6 N/A N/A $423, % 6.0% $399,000 MOOLOOLAH VALLEY ^ 4 N/A N/A $537, % -4.4% $562,250 MOUNT COOLUM 17 N/A N/A $590, % 22.2% $483,000 MOUNTAIN CREEK 41 $520, % $540, % 10.2% $490,000 MUDJIMBA 3 N/A N/A $630, % 34.0% $470,000 NAMBOUR 43 $343, % $350, % 6.1% $330,000 NINDERRY ^ 4 N/A N/A $575, % 6.5% $540,000 PACIFIC PARADISE 10 N/A N/A $405, % 3.8% $390,000 PALMWOODS 19 N/A N/A $442, % 1.0% $438,000 PARREARRA 13 N/A N/A $600, % 8.0% $556,500 PELICAN WATERS 35 $667, % $670, % 7.6% $622,500 PEREGIAN SPRINGS 30 $550, % $570, % 10.7% $515,000 SIPPY DOWNS 43 $480, % $464, % 5.6% $440,000 TANAWHA ^ 8 N/A N/A $896, % 27.6% $702,500 TWIN WATERS 13 N/A N/A $722, % 7.0% $675,000 WARANA 12 N/A N/A $550, % 22.9% $447,500 WOOMBYE 9 N/A N/A $435, % 4.8% $415,000 WURTULLA 18 N/A N/A $535, % 15.7% $462,500 YANDINA 5 N/A N/A $375, % -1.3% $380,000 YAROOMBA 4 N/A N/A $561, % 12.2% $500,000 POMONA 5 N/A N/A $385, % -1.0% $389,000 POMONA ^ 6 N/A N/A $495, % -8.8% $542,750 SUNRISE BEACH 4 N/A N/A $645, % 12.7% $573,000 SUNSHINE BEACH 9 N/A N/A $950, % 14.5% $830,000 TEWANTIN 47 $475, % $460, % 2.2% $450,000 S MARKET - UNITS & TOWNHOUSES SUNSHINE COAST (SD) 701 $385, % $380, % 2.7% $370,000 SUNSHINE COAST (LGA) 556 $370, % $370, % 2.8% $360,000 ALEXANDRA HEADLAND 22 $290, % $346, % 6.1% $326,500 BATTERY HILL 8 N/A N/A $258, % 5.5% $245,000 BIRTINYA 4 N/A N/A $422, % -16.3% $505,000 BUDDINA 4 N/A N/A $440, % 12.7% $390,250 BUDERIM 30 $361, % $390, % -1.3% $395,250 CALOUNDRA 34 $357, % $381, % -8.9% $418,000 CALOUNDRA WEST 8 N/A N/A $367, % 13.1% $325,000 COOLUM BEACH 24 $356, % $360, % -9.0% $395,500 CURRIMUNDI 8 N/A N/A $379, % 6.8% $355,000 GOLDEN BEACH 24 $465, % $408, % 19.1% $342,500 KINGS BEACH 35 $364, % $380, % -10.0% $422,000 LITTLE MOUNTAIN 2 N/A N/A $308, % 1.0% $305,000 MARCOOLA 21 $336, % $310, % -10.5% $346,250 MAROOCHYDORE 94 $377, % $355, % -4.3% $371,000 MINYAMA 10 N/A N/A $345, % 19.1% $290,000 MOFFAT BEACH 6 N/A N/A $475, % 36.3% $348,500 MOOLOOLABA 65 $337, % $358, % -3.5% $371,500 MOUNT COOLUM 13 N/A N/A $327, % -5.1% $345,000 MOUNTAIN CREEK 16 N/A N/A $375, % 45.1% $258,500 NAMBOUR 23 $311, % $250, % -7.1% $269,250 PARREARRA 13 N/A N/A $440, % -18.5% $540,000 PELICAN WATERS 8 N/A N/A $490, % 4.4% $470,000 PEREGIAN SPRINGS 12 N/A N/A $297, % 12.3% $265,000 TWIN WATERS 8 N/A N/A $520, % 4.0% $500,000 WARANA 15 N/A N/A $365, % 21.7% $300,000 WURTULLA 3 N/A N/A $379, % 26.3% $300,000 SURROUNDS NOOSA (LGA) 145 $450, % $440, % 1.1% $435,000 COOROY 2 N/A N/A $319, % -9.5% $352,500 NOOSA HEADS 51 $705, % $581, % -5.1% $612,500 NOOSAVILLE 42 $413, % $415, % 15.3% $360,000 PEREGIAN BEACH 15 N/A N/A $400, % 14.3% $350,000 SUNRISE BEACH 9 N/A N/A $373, % -6.6% $400,000 SUNSHINE BEACH 14 N/A N/A $537, % -19.3% $665,750 TEWANTIN 9 N/A N/A $300, % 7.1% $280,000 SUNSHINE COAST & NOOSA UNIT S <$250k $250K+ $350K+ $500k+ $1M+ SURROUNDS NOOSA (LGA) 147 $547, % $550, % 0.7% $546,000 NOOSA (LGA) ^ 75 $565, % $590, % 0.5% $587,500 BLACK MOUNTAIN ^ 9 N/A N/A $567, % 5.6% $537,500 COORAN ^ 4 N/A N/A $480, % 14.8% $418,000 COOROIBAH ^ 6 N/A N/A $597, % 4.3% $572,625 COOROY 10 N/A N/A $435, % 1.6% $428,000 DOONAN ^ 14 N/A N/A $685, % -12.1% $779,000 NOOSA HEADS 12 N/A N/A $745, % 16.4% $640,000 NOOSAVILLE 39 $823, % $770, % 6.9% $720,000 PEREGIAN BEACH 7 N/A N/A $735, % 16.2% $632,500 SUNSHINE COAST & NOOSA LAND S <$250k $250K+ $350K+ $500k+ $1M+ MARCH QUARTER

28 REGIONAL MARKET UPDATES S MARKET - VACANT LAND S SUNSHINE COAST (SD) 133 $242, % $256, % -0.8% $258,000 SUNSHINE COAST (SD) ^ 28 $330, % $320, % 0.0% $320,000 SUNSHINE COAST (LGA) 115 $230, % $251, % -0.8% $253,000 SUNSHINE COAST (LGA) ^ 26 $330, % $320, % 0.8% $317,500 BEERWAH 24 $218, % $215, % 14.5% $187,750 BIRTINYA 0 N/A N/A $298, % -8.8% $327,250 BLI BLI 9 N/A N/A $260, % 8.8% $239,500 CALOUNDRA WEST 2 N/A N/A $230, % -20.5% $290,000 FOREST GLEN 2 N/A N/A $259, % -1.7% $263,375 GLASS HOUSE MOUNTAINS 4 N/A N/A $198, % -2.2% $202,500 LITTLE MOUNTAIN 0 N/A N/A $256, % 1.7% $252,000 MALENY 2 N/A N/A $244, % 16.6% $210,000 MAROOCHYDORE 6 N/A N/A $245, % 8.1% $226,575 MERIDAN PLAINS 4 N/A N/A $244, % -6.7% $262,450 MOUNTAIN CREEK 5 N/A N/A $299, % 12.8% $265,000 NAMBOUR 1 N/A N/A $184, % -1.9% $187,500 PALMVIEW ^ 4 N/A N/A $320, % N/A N/A PELICAN WATERS 18 N/A N/A $269, % -23.1% $350,000 PEREGIAN SPRINGS 1 N/A N/A $375, % 53.1% $245,000 SIPPY DOWNS 5 N/A N/A $195, % -16.5% $233,625 YAROOMBA 2 N/A N/A $322, % -5.1% $340,000 SURROUNDS NOOSA (LGA) 18 N/A N/A $320, % 2.2% $313,110 NOOSAVILLE 9 N/A N/A $334, % 6.8% $313,110 PEREGIAN BEACH 2 N/A N/A $245, % -25.8% $330,000 RENTAL MARKET - 3 BED HOUSES POST MAR-16 MAR-15 CODE LOCALITY L $/WEEK NEW BONDS $/WEEK NEW BONDS SUNSHINE COAST REGIONAL $ $ GLASS HOUSE MOUNTAINS $ $ BEERWAH/ PEACHESTER $ $ LANDSBOROUGH/ MT MELLUM $390 8 $ AROONA/ BATTERY HILL/ CALOUNDRA/ CURRIMUNDI/ DIAMOND HEAD/ DICKY BCH/ GOLDEN BCH/ KINGS BCH/ LITTLE $ $ MTN/ MERIDAN PLNS/ MOFFAT BCH/ PELICAN WATERS/ SHELLY BCH 4552 BALD KNOB/ BAROON POCKET/ BOOROOBIN/ CONONDALE/ MALENY/ $ $ MOUNTAIN VIEW/ REESVILLE/ WITTA 4553 GLENVIEW/ MOOLOOLAH/ MOOLOOLAH VALLEY/ PALMVIEW $380 9 $ CHEVALLUM/ HUNCHY/ LANDERS SHOOT/ PALMWOODS $395 7 $ BUDERIM/ FOREST GLEN/ KUNDA PK/ MONS/ SIPPY DOWNS/ TANAWHA $ $ BUNDILLS/ KAWANA IS/ MOOLOOLABA/ MOUNTAIN CK $ $ COTTON TREE/ KULUIN/ MAROOCHYDORE/ SUNSHINE PLAZA $ $ BLI BLI/ BURNSIDE/ COES CK/ COOLOOLABIN/ DULONG/ FLAXTON/ HIGHWORTH/ IMAGE FLAT/ KIAMBA/ KULANGOOR/ KUREELPA/ MAPLETON/ $ $ MONTVILLE/ NAMBOUR/ PARKLANDS/ PERWILLOWEN/ ROSEMONT/ TOWEN MTN 4561 BRIDGES/ MAROOCHY RIVER/ NINDERRY/ NTH ARM/ VALDORA/ YANDINA/ YANDINA CK $ $ BELLI PK/ DOONAN/ EERWAH VALE/ $440 EUMUNDI/ VERRIERDALE/ WEBA DOWNS 7 $ MARCOOLA/ MUDJIMBA/ PACIFIC PARADISE $ $ ALEXANDRA HEADLAND $450 5 $ CENTENARY HEIGHTS/ COOLUM BCH/ MARCUS BCH/ MT COOLUM/ PEREGIAN BCH/ PT ARKWRIGHT/ YAROOMBA 4575 BIRTINYA/ BOKARINA/ BUDDINA/ KAWANA WATERS/ MINYAMA/ PARREARRA/ WARANA/ WURTULLA RENTAL MARKET - 3 BED HOUSES (CONT D) POST MAR-16 MAR-15 CODE LOCALITY L $/WEEK NEW BONDS $/WEEK NEW BONDS NOOSA SHIRE $ $ BLACK MOUNTAIN/ CARTERS RIDGE/ COOROY/ TINBEERWAH $ $ BOREEN PT/ COOTHARABA/ LAKE COOTHARABA/ NOOSA PARKLANDS/ $ $ TEEWAH/ TEWANTIN 4566 MUNNA PT/ NOOSAVILLE $ $ CASTAWAYS BCH/ LITTLE COVE/ NOOSA $530 HEADS/ SUNRISE BCH/ SUNSHINE BCH 33 $ POMONA $430 5 $ COORAN N/A 2 RENTAL MARKET - 2 BED UNITS SUNSHINE COAST REGIONAL $ $ BEERWAH/ PEACHESTER $300 9 $ AROONA/ BATTERY HILL/ CALOUNDRA/ CURRIMUNDI/ DIAMOND HEAD/ DICKY BCH/ GOLDEN BCH/ KINGS BCH/ LITTLE $ $ MTN/ MERIDAN PLNS/ MOFFAT BCH/ PELICAN WATERS/ SHELLY BCH 4556 BUDERIM/ FOREST GLEN/ KUNDA PK/ MONS/ SIPPY DOWNS/ TANAWHA $ $ BUNDILLS/ KAWANA IS/ MOOLOOLABA/ MOUNTAIN CK $ $ COTTON TREE/ KULUIN/ MAROOCHYDORE/ SUNSHINE PLAZA $ $ BLI BLI/ BURNSIDE/ COES CK/ COOLOOLABIN/ DULONG/ FLAXTON/ HIGHWORTH/ IMAGE FLAT/ KIAMBA/ KULANGOOR/ KUREELPA/ MAPLETON/ MONTVILLE/ NAMBOUR/ PARKLANDS/ PERWILLOWEN/ ROSEMONT/ TOWEN MTN $ $ MARCOOLA/ MUDJIMBA/ PACIFIC PARADISE $ $ ALEXANDRA HEADLAND $ $ CENTENARY HEIGHTS/ COOLUM BCH/ MARCUS BCH/ MT COOLUM/ PEREGIAN $ $ BCH/ PT ARKWRIGHT/ YAROOMBA 4575 BIRTINYA/ BOKARINA/ BUDDINA/ KAWANA WATERS/ MINYAMA/ $ $ PARREARRA/ WARANA/ WURTULLA NOOSA SHIRE $ $ BOREEN PT/ COOTHARABA/ LAKE COOTHARABA/ NOOSA PARKLANDS/ N/A 4 $ TEEWAH/ TEWANTIN 4566 MUNNA PT/ NOOSAVILLE $ $ CASTAWAYS BCH/ LITTLE COVE/ NOOSA $400 HEADS/ SUNRISE BCH/ SUNSHINE BCH 43 $ RENTAL MARKET - 3 BED TOWNHOUSES SUNSHINE COAST REGIONAL $ $ BEERWAH/ PEACHESTER $ $ AROONA/ BATTERY HILL/ CALOUNDRA/ CURRIMUNDI/ DIAMOND HEAD/ DICKY BCH/ GOLDEN BCH/ KINGS BCH/ LITTLE $ $ MTN/ MERIDAN PLNS/ MOFFAT BCH/ PELICAN WATERS/ SHELLY BCH 4556 BUDERIM/ FOREST GLEN/ KUNDA PK/ MONS/ SIPPY DOWNS/ TANAWHA $ $ BUNDILLS/ KAWANA IS/ MOOLOOLABA/ MOUNTAIN CK $ $ COTTON TREE/ KULUIN/ MAROOCHYDORE/ SUNSHINE PLAZA $ $ BLI BLI/ BURNSIDE/ COES CK/ COOLOOLABIN/ DULONG/ FLAXTON/ HIGHWORTH/ IMAGE FLAT/ KIAMBA/ KULANGOOR/ KUREELPA/ MAPLETON/ MONTVILLE/ NAMBOUR/ PARKLANDS/ PERWILLOWEN/ ROSEMONT/ TOWEN MTN $ $ MARCOOLA/ MUDJIMBA/ PACIFIC PARADISE $ $ CENTENARY HEIGHTS/ COOLUM BCH/ 4573 MARCUS BCH/ MT COOLUM/ PEREGIAN $ $ BCH/ PT ARKWRIGHT/ YAROOMBA 4575 BIRTINYA/ BOKARINA/ BUDDINA/ KAWANA WATERS/ MINYAMA/ $390 6 $400 8 PARREARRA/ WARANA/ WURTULLA NOOSA SHIRE $ $ MUNNA PT/ NOOSAVILLE $520 6 $ CASTAWAYS BCH/ LITTLE COVE/ NOOSA HEADS/ SUNRISE BCH/ SUNSHINE BCH $ $ QUEENSLAND MARKET MONITOR

29 REGIONAL MARKET UPDATES ADVERTISING OPPORTUNITIES AVAILABLE Get your brand seen by all real estate market observers. This space is seen by thousands of people who are watching the market closely, including financial institutions, real estate agents and associated organisations. Contact Jordan for more information: MARCH QUARTER

30 REGIONAL MARKET UPDATES FRASER COAST Over the past few years, the new house and land package market in the Fraser Coast has been boosted by firsthome owners accessing a $27,000 grant from the Great Start Grant and the Building Better Regional Cities Grant. While the second grant is due to expire by 30 June 2016, the projections of the house market in the area are conservative with a fear of an increased oversupply of housing. First-home owners continue driving the demand as they are seeing good value in the current market conditions. The median price for houses remained fairly stable over the March quarter while the unit median sale price showed a sharp improvement of about 6.2 per cent. The rental market remains relatively stable despite the increase in new housing stock. New large infrastructure projects in the area are limited and that is a concern for the long-term projection of the residential property market in the region. Overall, the house market remains steady while the units market may be stabilising in the Fraser Coast. HOUSE MARKET The annual median sale price increased by almost two per cent from $295,000 in March 2015 to $300,500 in March 2016 and the volume of sales also reported an annual increase of about 8.3 per cent, or 120 properties. This increase has been driven primarily by the Great Start Grant in combination with the Building Better Region Grant. The latest is due to expire by the end of June BUNDABERG HOUSE S The medium-term Sep-15 performance Dec-15 Mar-16 * of the market has been steady with the median sale price staying at around 198 $300,000. The largest volume of sales activity remains below $350, There is a portion of sellers having high expectations on property prices, which is actually driving large average 42 days on market, which are now reaching close to four 3 months. The vendor discount remains sitting between 7.5 <$350K $350K+ $500k+ per cent and 7.9 per cent. 230 Houses<2,400m UNIT MARKET The annual median sale price for units has fallen by 6.5 per cent in 12 months and 8.8 per cent in five years. This slip has been driven primarily by the reduction in value of ROCKHAMPTON & LIVINGSTONE HOUSE S units located in Sep-15five-star Dec-15 luxury Mar-16 * resorts, which were a very popular construction around The market for this 202 type of unit is very limited as the returns are low and the 168 annual body corporate fees potentially fluctuate between $5,000 and $8, The unit market activity reported 59 an annual increase in sales of about 61 more units, which 18 is equivalent to an increase of 22.5 per cent. The volume of sales for units <$350K $350K+ $500k+ priced above $250,000 is scarce. The average days on market for units is about 127 days while the vendor discount increased from 5.7 per cent in February 2015 to 7.6 per cent in February Houses<2,400m RENTAL MARKET Vacancy rates in the region have generally remained at healthy levels over the past three years for both Hervey Bay and Maryborough. The median weekly rent for a three-bedroom house and a two-bedroom unit increased by $10 in the March 2016 quarter, reaching $290 and $250 per week, respectively. Three bedroom townhouses reported a reduction of $20 per week. The rental market in Fraser Coast remains stable and the gross rental yields are sitting at around 5.1 per cent for both units and houses <$350K $350K+ $500k+ FRASER COAST LAND S FRASER COAST HOUSE S FRASER COAST UNIT S <$350K $350K+ $500k+ Houses<2,400m <$250k $250K+ 28 $350K+ $500k Houses<2,400m <$250k $250K+ $350K GLADSTONE HOUSE S MACKAY HOUSE S <$350K $350K+ $500k+ Houses<2,400m TOWNSVILLE HOUSE S CAIRNS & DOUGLAS HOUSE S QUEENSLAND MARKET MONITOR

31 REGIONAL MARKET UPDATES S MARKET - HOUSES S FRASER COAST (LGA) 295 $295, % $300, % 0.2% $300,000 FRASER COAST (LGA) ^ 66 $382, % $378, % -1.6% $384,000 BOORAL ^ 3 N/A N/A $375, % -5.1% $395,000 BURRUM HEADS 10 N/A N/A $347, % -2.9% $357,750 DUNDOWRAN BEACH ^ 5 N/A N/A $560, % 14.3% $490,000 ELI WATERS 17 N/A N/A $325, % 0.9% $322,500 GLENWOOD ^ 6 N/A N/A $192, % -11.3% $216,500 GRANVILLE 5 N/A N/A $210, % 2.4% $205,000 KAWUNGAN 10 N/A N/A $335, % 2.8% $325,750 MARYBOROUGH 46 $185, % $192, % -14.7% $225,000 PIALBA 13 N/A N/A $288, % -1.5% $293,000 POINT VERNON 31 $293, % $310, % -0.9% $312,750 RIVER HEADS 4 N/A N/A $300, % -2.4% $307,500 SCARNESS 10 N/A N/A $270, % -0.4% $271,000 TINANA 8 N/A N/A $302, % -5.5% $320,000 TOOGOOM 11 N/A N/A $315, % 6.3% $296,322 TORQUAY 27 $321, % $320, % -0.2% $320,513 URANGAN 29 $290, % $310, % -3.1% $320,000 URRAWEEN 28 $327, % $349, % 4.0% $335,900 SURROUNDS GYMPIE (LGA) 113 $269, % $270, % -3.6% $280,000 GYMPIE (LGA) ^ 62 $357, % $350, % 0.8% $347,250 CHATSWORTH ^ 0 N/A N/A $370, % -4.4% $387,000 COOLOOLA COVE 17 N/A N/A $280, % -6.3% $299,500 CURRA ^ 5 N/A N/A $267, % -11.4% $302,000 GYMPIE 46 $235, % $232, % -7.3% $250,500 SOUTHSIDE 16 N/A N/A $325, % 0.9% $322,000 TIN CAN BAY 9 N/A N/A $301, % -13.9% $350,000 SOUTH BURNETT (LGA) 45 $215, % $190, % -15.6% $225,000 SOUTH BURNETT (LGA) ^ 38 $241, % $235, % -19.6% $292,450 KINGAROY 24 $250, % $231, % -11.5% $261,500 KINGAROY ^ 4 N/A N/A $349, % -12.8% $400,000 MURGON 5 N/A N/A $129, % -26.9% $176,500 NANANGO 6 N/A N/A $176, % -17.8% $215,000 S MARKET - UNITS & TOWNHOUSES FRASER COAST (LGA) 59 $254, % $243, % -8.8% $266,500 PIALBA 12 N/A N/A $244, % -12.2% $278,000 SCARNESS 7 N/A N/A $265, % 10.0% $241,000 TORQUAY 10 N/A N/A $219, % -6.8% $235,000 URANGAN 18 N/A N/A $260, % -16.1% $310,000 RENTAL MARKET - 3 BED HOUSES POST MAR-16 MAR-15 CODE LOCALITY L $/WEEK NEW BONDS $/WEEK NEW BONDS FRASER COAST REGIONAL $ $ MARYBOROUGH REGION $ $ HERVEY BAY/ PIALBA/ SCARNESS/ URANGAN $ $ BURRUM/ BURRUM HEADS/ HOWARD $ $ GYMPIE REGIONAL $ $ GYMPIE/ AMAMOOR/ CURRA/ IMBIL/ KANDANGA/ MONKLAND/ SOUTHSIDE/ $ $ VICTORY HEIGHTS 4580 COOLOOLA/ TIN CAN BAY $ $ SOUTH BURNETT REGIONAL $ $ BARLIL $ $ CHARLESTOWN $ $ CHARLESTOWN $230 5 $ ALICE CREEK $255 $63 $ BARKER CREEK FLAT $250 $23 $ RENTAL MARKET - 2 BED UNITS FRASER COAST REGIONAL $ $ ALDERSHOT $ $ HERVEY BAY/ PIALBA/ SCARNESS/ URANGAN $ $ GYMPIE REGIONAL $ $ GYMPIE/ AMAMOOR/ CURRA/ IMBIL/ KANDANGA/ MONKLAND/ SOUTHSIDE/ $ $ VICTORY HEIGHTS 4580 COOLOOLA/ TIN CAN BAY N/A 4 $ RAINBOW BEACH/ INSKIP $250 7 $250 7 SOUTH BURNETT REGIONAL $ $ BARLIL $165 8 $ ALICE CREEK $ $ RENTAL MARKET - 3 BED TOWNHOUSES FRASER COAST REGIONAL $ $ HERVEY BAY/ PIALBA/ SCARNESS/ URANGAN $ $ GYMPIE REGIONAL $ $ GYMPIE/ AMAMOOR/ CURRA/ IMBIL/ KANDANGA/ MONKLAND/ SOUTHSIDE/ $ $ VICTORY HEIGHTS SURROUNDS GYMPIE (LGA) 16 N/A N/A $255, % 6.3% $240,000 S MARKET - VACANT LAND FRASER COAST (LGA) 49 $145, % $150, % -4.3% $156,750 FRASER COAST (LGA) ^ 41 $70, % $71, % -21.1% $90,000 BURRUM HEADS 5 N/A N/A $110, % -24.1% $145,000 GLENWOOD ^ 17 N/A N/A $65, % -18.1% $80,000 RIVER HEADS 5 N/A N/A $115, % -20.7% $145,000 TOOGOOM 4 N/A N/A $117, % -21.7% $150,000 WONDUNNA 1 N/A N/A $155, % -11.4% $175,000 SURROUNDS GYMPIE (LGA) 21 $119, % $126, % 1.4% $125,000 GYMPIE (LGA) ^ 18 N/A N/A $120, % -4.0% $125,000 GYMPIE 6 N/A N/A $135, % 5.4% $128,500 First home owners continue driving the demand as they are seeing good value in the current market conditions. MARCH QUARTER

32 REGIONAL MARKET UPDATES BUNDABERG The Bundaberg residential property market is showing signs of stabilisation with a number of infrastructure projects in the horizon that have the potential to boost the economy. Local real estate agents are reporting that the residential sales market has met the bottom of the cycle and will start moving into a recovery-to-rising phase in the near future. The construction of the 28km gas pipeline commenced in April and is forecast for completion in about six months. It is anticipated the pipeline will be fully operational by December. The $43 million Rubyanna wastewater treatment plant project is progressing and benefits to the economy should be visible when construction commences. Construction at the Knauf Plasterboard plant has also started and production is scheduled to commence in June The company is now advertising online that the recruitment process is due to start around spring 2016 with the focus of employing local residents. The Queensland State Government continues investing in improving the medical services in the region. Funding of $11 million was allocated for the improvement of medical facilities, to establish cardiology, care and ophthalmology services and also replacing of the CT unit. The remaining latent challenge for the economy and the residential property market is jobs growth. Casual jobs are becoming very common. The medium-term prognosis of the Bundaberg residential property market appears to be positive while investment in infrastructure and from private companies is on the way. Overall, the expectations are that any potential growth will be steady and sustainable and will support a stronger property market in the area. HOUSE MARKET Buyers are coming back to the market and are more active. Sales activity has been driven lately by out-of-area buyers (including interstate buyers), who have been away from the market for about six years. Within these buyers, retirees, pre-retirees and superannuation investors are predominant. First-home buyers are also active in the market and the largest volume of sales in the house market fluctuates between the $350,000 to $410,000 price range. The median sale price showed a slight increase in the March quarter, however the annual median sale price fell from $280,000 in March 2015 to $275,000 in March The average days on market and the vendor discount remained relatively stable in February 2016, which provides signs of the market potentially reaching the bottom of the cycle. The land market may soon see a new land development in Bargara in the corner of Moodies Road and Watsons Road. This project is currently owned by Investec and will most likely target owner-occupiers rather than investors. UNIT MARKET There are no new developments planned and this is supporting the steadying of the market. The volume of unit sales increased slightly over the past 12 months, reaching a total of 210 units in March 2016 compared to 190 units in March The unit market is driven by young first-home buyers, self-funded retirees and some local buyers looking for waterfront holiday high-end units. Properties below the $350,000 range are the most common transactions in the area. Some good news is that the average days on market has reduced by about one month, from 152 days in February 2015 to 123 days in February The average vendor discount remains at about eight per cent, sitting in the middle range in the overall Queensland property market. RENTAL MARKET The rental market remains subdued following some slippage that began six to 12 months ago when the floodrepair workers left town. Tenants, like buyers, are now conscious market conditions favour them and will shop around before making decisions. Local agents indicate that weekly rents are discounted between per cent five and 10 per cent, hence they have returned to pre-flood rent levels. The RTA median weakly rent data shows unchanged rents for three-bedroom houses and two-bedroom apartments. However, three-bedroom townhouses reported a reduction of about five per cent for the 12 months ending March The market is now seeing people moving into the area to work on some of the new infrastructure projects. It is expected that this will shortly have a positive impact on vacancy rates, which are now around 5.2 per cent. The Queensland State Government continues investing in improving the medical services in the region. Funding of $11 million was allocated for the improvement of medical facilities, to establish cardiology, care and ophthalmology services and also replacing of the CT unit. 32 QUEENSLAND MARKET MONITOR

33 REGIONAL MARKET UPDATES S MARKET - HOUSES S BUNDABERG HOUSE S BUNDABERG (LGA) 182 $276, % $275, % -3.5% $285,000 BUNDABERG (LGA) ^ 37 $345, % $335, % 0.0% $335,000 AVENELL HEIGHTS 10 N/A N/A $280, % 2.9% $272,000 AVOCA 12 N/A N/A $292, % -4.3% $305,000 BARGARA 22 $381, % $380, % 3.6% $366,750 BRANYAN ^ 5 N/A N/A $353, % -1.1% $357,000 BUNDABERG EAST 7 N/A N/A $250, % -9.7% $277,000 BUNDABERG NORTH 8 N/A N/A $218, % -14.5% $255,000 BUNDABERG SOUTH 6 N/A N/A $236, % -9.2% $260,000 BUNDABERG WEST 3 N/A N/A $240, % 0.4% $239,000 BURNETT HEADS 10 N/A N/A $284, % -2.3% $291,250 CORAL COVE 2 N/A N/A $438, % 8.0% $406,000 KALKIE 6 N/A N/A $363, % -0.2% $363,900 KEPNOCK 7 N/A N/A $255, % -9.2% $281,500 MILLBANK 9 N/A N/A $246, % -7.5% $266,000 NORVILLE 9 N/A N/A $214, % -6.7% $230,000 SVENSSON HEIGHTS 11 N/A N/A $250, % -2.0% $255,000 THABEBAN 9 N/A N/A $265, % -7.3% $286,500 WALKERVALE 13 N/A N/A $230, % 0.0% $230,000 WOODGATE 4 N/A N/A $382, % -13.1% $440,000 SURROUNDS NORTH BURNETT (LGA) 18 N/A N/A $147, % -8.1% $160,000 S MARKET - UNITS & TOWNHOUSES BUNDABERG (LGA) 47 $246, % $261, % 4.5% $250,000 AVENELL HEIGHTS 9 N/A N/A $240, % 6.7% $225,000 BARGARA 18 N/A N/A $302, % -13.7% $350,000 S MARKET - VACANT LAND BUNDABERG (LGA) 33 $148, % $144, % 3.6% $139,000 BUNDABERG (LGA) ^ 7 N/A N/A $150, % 16.3% $129,000 BRANYAN 0 N/A N/A $145, % 10.7% $131,000 Houses<2,400m BUNDABERG UNIT S Sep Dec-15 Mar-16 * <$250k $250K+ $350K+ $500k <$350K BUNDABERG LAND S $350K+ $500k+ Houses<2,400m 86 ROCKHAMPTON & LIVINGSTONE UNIT S TOWNSVILLE HOUSE S <$250k Sep-15 Dec-15 $250K+ Mar-16 * $350K <$250k 266 $250K+ $350K+ $500k <$350K $350K+ $500k+ ROCKHAMPTON & LIVINGSTONE HOUSE S <$350K TOWNSVILLE $350K+ UNIT S $500k+ RENTAL MARKET - 3 BED HOUSES POST MAR-16 MAR-15 CODE LOCALITY L $/WEEK NEW BONDS $/WEEK NEW BONDS BUNDABERG REGIONAL $ $ APPLE TREE CREEK/ CHILDERS/ WOODGATE $ $ BUNDABERG/ AVOCA/ BARGARA/ BURNETT HEADS/ INNES PARK/ $ $ KEPNOCK/ MILLBANK/ THABEBAN 4671 GIN GIN/ MOUNT PERRY $ $ NORTH BURNETT REGIONAL $ $ ARANBANGA $ $ BEERON $ $ BANCROFT $200 5 $ <$250k $250K+ $350K+ $500k+ 3 RENTAL MARKET - 2 BED UNITS 4670 BUNDABERG REGIONAL $ $ BUNDABERG/ AVOCA/ BARGARA/ BURNETT HEADS/ INNES PARK/ $ $ KEPNOCK/ MILLBANK/ THABEBAN RENTAL MARKET - 3 BED TOWNHOUSES 4670 BUNDABERG REGIONAL $ $ BUNDABERG/ AVOCA/ BARGARA/ BURNETT HEADS/ INNES PARK/ $ $ KEPNOCK/ MILLBANK/ THABEBAN MARCH QUARTER

34 REGIONAL MARKET UPDATES 195 Houses<2,400m 308 GLADSTONE The Gladstone economy, including the jobs market, remains weak. The median sale price for houses and units have contracted to similar levels last seen in 2007 and In April 2016, the Queensland Government approved mining leases for the $21.7 billion Carmichael coal mine and rail project in the Galilee Basin. Further approvals are still required before construction starts. The proposed Casper Oil Refinery remains on hold and no further developments have been announced in Local residents are now becoming concerned about the viability of the project. ROCKHAMPTON & LIVINGSTONE HOUSE S The projections Sep-15of the Dec-15economy Mar-16 * and the property market in the region are not very promising while job losses from major 202 regional employers, such as Rio Tinto, QAL and 168 NRG have occurred during the first few months in Both the house and unit sale market continue following 94 a downward trend and 76 there is not any indication at this 59 stage as to when the fall will ease The rental market is one of the weakest in Queensland <$350K $350K+ $500k+ with vacancy rates reaching double digits by late Investors are constantly being challenged by current market conditions and some of them are now deciding to exit the market contemplating large losses or bankruptcy. HOUSE MARKET The median TOWNSVILLE sale price HOUSE S for the quarter has dropped by 1.4 per cent, reaching $345,000. The annual fall in the median sale price is 6.7 per cent, while the five year fall 266 is per cent 223 which 224 is equivalent to an annual fall of 2.2 per cent. The volume of sales has continued dropping 134 for the March quarter with the largest activity in the sales 81 market remaining in the price range 66 below $350, The average vendor discount is one of the largest in the <$350K $350K+ $500k+ state, reaching 10.2 per cent in February 2016 compared with five per cent about five years ago. Average days on market ranged between three and four months with little significant improvement in the market. UNIT MARKET The unit market in Gladstone continues to soften. In March 2016, the median sale price increased by about 30 per cent. This increase is very anomalous and is just a reflection of the small number of transactions in the December quarter and the different mixture of units included in the calculations. The volume of sales appears to be stable or has potentially increased in the March quarter (taking into consideration that the March quarter volumes are still preliminary). Despite this potential improvement in level of activity, the median sale price for the year has dropped by about 14.5 per cent with the annual median sale price reaching $265,000 compared to $310,000 about 12 months ago. The medium-term performance of the unit market has been disappointing as the median sale price reported an accumulated reduction of about 29.3 per cent over a fiveyear period. This is equivalent to a loss of about $110,000 over about five years (or $22,000 per year) Sep-155 Dec-15 Mar-16 * <$250k $250K+ 312 $350K+ <$350K $350K+ $500k+ Units *Preliminary listed data for sale remain on the market an average Houses<2,400m of four months and 10 days and if they are sold, the average vendor discount is around 10 per cent. This data defines one of the weakest areas in the state and highlights the challenges experienced by the residential property market. RENTAL MARKET GLADSTONE HOUSE S 5 GLADSTONE UNIT S <$350K $350K+ $500k+ Houses<2,400m <$250k $250K+ $350K+ $500k Houses<2,400m <$350K $350K+ $500k+ GLADSTONE LAND S The rental market continues slip with no sign of improvement on the horizon. Vacancy rates hover around 11.3 per cent in the March quarter. The rental market has not recorded positive market conditions since late December 2012, when vacancy rates commenced to lift. The median weekly rent has fallen over the March 2016 quarter with rents dropping between $50 to $100 dollars a week. The largest reduction in rent was seen in threebedroom townhouses, which reduced from $350 in March 2015 to $250 in March 2016, as tenants opted for greater value, renting larger houses for a similar price range. 28 MACKAY HOUSE S CAIRNS & DOUGLAS HOUSE S QUEENSLAND MARKET MONITOR

35 REGIONAL MARKET UPDATES S MARKET - HOUSES S MARKET - VACANT LAND S S GLADSTONE (LGA) 75 $345, % $350, % -11.4% $395,000 GLADSTONE (LGA) ^ 26 $335, % $385, % -23.3% $502,000 AGNES WATER ^ 9 N/A N/A $326, % -14.2% $380,000 BOYNE ISLAND 5 N/A N/A $380, % -14.3% $443,500 CALLIOPE 4 N/A N/A $342, % -16.0% $407,000 CLINTON 12 N/A N/A $335, % -14.0% $390,000 GLEN EDEN 2 N/A N/A $360, % -19.6% $447,500 KIN KORA 5 N/A N/A $329, % -14.5% $385,000 KIRKWOOD 3 N/A N/A $420, % -17.2% $507,500 NEW AUCKLAND 10 N/A N/A $375, % -5.5% $397,000 SOUTH GLADSTONE 3 N/A N/A $360, % 1.4% $355,000 TANNUM SANDS 4 N/A N/A $430, % -3.4% $445,000 TELINA 2 N/A N/A $405, % -8.5% $442,500 WEST GLADSTONE 10 N/A N/A $253, % -30.7% $365,000 SURROUNDS BANANA (LGA) 12 N/A N/A $240, % -11.1% $270,000 BILOELA 6 N/A N/A $275, % -3.3% $284,500 S MARKET - UNITS & TOWNHOUSES GLADSTONE (LGA) 23 $302, % $265, % -29.3% $375,000 GLADSTONE (LGA) 5 N/A N/A $185, % -2.1% $189,000 KIRKWOOD 0 N/A N/A $195, % 0.0% $195,000 RENTAL MARKET - 3 BED HOUSES POST MAR-16 MAR-15 CODE LOCALITY L $/WEEK NEW BONDS $/WEEK NEW BONDS GLADSTONE REGIONAL $ $ AGNES WATER/ MIRIAM VALE $ $ GLADSTONE/ BOYNE ISLAND/ 4680 CLINTON/ NEW AUCKLAND/ $ $ KIN KORA/ TANNUM SANDS BANANA SHIRE $ $ BILOELA $ $ BAUHINIA $ $ RENTAL MARKET - 2 BED UNITS GLADSTONE REGIONAL $ $ AGNES WATER/ MIRIAM VALE $ $ GLADSTONE/ BOYNE ISLAND/ CLINTON/ NEW $180 AUCKLAND/ KIN KORA/ TANNUM SANDS 206 $ BANANA SHIRE $ $ BILOELA $250 $12 $ RENTAL MARKET - 3 BED TOWNHOUSES GLADSTONE REGIONAL $ $ GLADSTONE/ BOYNE ISLAND/ CLINTON/ NEW AUCKLAND/ KIN KORA/ TANNUM $ $ SANDS 4677 AGNES WATER/ MIRIAM VALE $300 5 N/A 3 MARCH QUARTER

36 REGIONAL MARKET UPDATES ROCKHAMPTON The Rockhampton market continues to experience challenges and investor activity is diminishing, leaving first-home buyers the dominant group taking advantage of good buying opportunities. The annual median sale price has continued to slide in the March 2016 quarter and the medium term (five years) median sale price fell by 7.5 per cent for houses and 10.6 per cent for units. However, the good news is that the economic outlook in the Rockhampton region indicates there may be significant international investment on the horizon. The recently announced Australia-Singapore strategic partnership is a positive for the region as Singapore will potentially invest up to $2.25 billion in the expansion of two of Australians most important military training facilities, the Shoalwater Bay (Rockhampton) training area and the Townsville field training area. The Counsel General of the People s Republic of China also visited Rockhampton in May to explore trade and investment opportunities in the beef industry. The Rockhampton rental market continued to struggle. The March quarter reported an increase in the vacancy rates, reaching 6.9 per cent despite the cycle of returning uni students usually favouring the first quarter of the year. Overall, the Rockhampton residential property market remains weak in both sales and rentals. However, the medium outlook appears promising with international investment projects in the pipeline. HOUSE MARKET The median sale price has again slipped over the March quarter, reaching $270,000, a level last seen in around Real estate agents report sales activity is slow but appears to be more stable than recent quarters. Vendor confidence remains low and this is revealed in the reduced listings volume, from 2848 in February 2015 to 2247 in February 2016, a drop of 21 per cent. The residential market activity appears to be sitting at the bottom of the cycle. Days on market for the region remain above 100 days for the 12 months to February 2016, while preliminary average vendor discount rate is sitting around 9.8 per cent. The current slow pace of the residential property market is attracting a few bargain hunters who are looking for long-term capital gains. The short-term outlook of the property market remains challenging. However property sector specialists are closely following any potential progress on the Singapore deal, which may double the Singapore armed forces access to training facilities in Shoalwater Bay and Townsville training areas. This deal will require additional local investment to cope with an increase in the number of soldiers and their length of stay from 6,000 for six weeks a year to 14,000 for 18 weeks a year. UNIT MARKET The unit market activity contracted with the annual number of sales dropping from 133 in March 2015 to 86 in March The unit median sale price for the March quarter was $264,500 with the average days on market remaining between three to four months. Rockhampton City reported an annual median sale price to March 2016 of $435,000, which is skewed by the sale of riverfront apartments in the Empire building (40 storeys combining hotel rooms and residential accommodation). This type of development is popular in the region while bringing a new outlook to the CBD area and providing lifestyle and riverfront accommodation to locals. RENTAL MARKET Property investors remain cautious given the rising vacancy rates. Vacancy rates for March increased from 6.1 per cent to 6.9 per cent despite the first quarter of the year usually heralding the en masse return of students to the area. Prior to the resources downturn Rockhampton vacancy rates were sitting in the tight to healthy range between 1.5 per cent and 3.5 per cent, which means that the excess of rental properties in the region has doubled over the past three years. Weekly rent for three-bed houses, two-bed flats and threebed townhouses have all fallen over the past 12 months. The rental market is weak with investors confidence remaining cautious and alert. The Australia-Singapore strategic partnership is a positive for the region as Singapore will potentially invest up to $2.25 billion in the expansion of two of Australians most important military training facilities. 195 ROCKHAMPTON & LIVINGSTONE HOUSE S <$350K $350K+ $500k Houses<2,400m 36 QUEENSLAND MARKET MONITOR

37 REGIONAL MARKET UPDATES S MARKET - HOUSES ROCKHAMPTON (LGA) 179 $270, % $282, % -7.5% $305,000 ROCKHAMPTON (LGA) ^ 14 N/A N/A $377, % 0.7% $375,000 ALLENSTOWN 15 N/A N/A $262, % 0.5% $261,250 BERSERKER 17 N/A N/A $220, % -10.4% $245,500 FRENCHVILLE 26 $335, % $318, % -5.1% $335,500 GRACEMERE 13 N/A N/A $308, % -6.4% $329,500 KAWANA 13 N/A N/A $287, % -8.5% $314,250 KOONGAL 15 N/A N/A $236, % -9.1% $260,000 MOUNT MORGAN 6 N/A N/A $105, % -16.0% $125,000 NORMAN GARDENS 25 $389, % $385, % -12.5% $440,000 PARK AVENUE 15 N/A N/A $240, % -7.0% $258,000 THE RANGE 11 N/A N/A $355, % -3.0% $366,000 WANDAL 9 N/A N/A $299, % 6.9% $280,000 SURROUNDS S CENTRAL HIGHLANDS (LGA) 24 $160, % $200, % -43.7% $355,000 BLACKWATER 6 N/A N/A $127, % -61.0% $326,750 EMERALD 16 N/A N/A $245, % -35.5% $380,000 RENTAL MARKET - 2 BED UNITS POST MAR-16 MAR-15 CODE LOCALITY L $/WEEK NEW BONDS $/WEEK NEW BONDS ROCKHAMPTON REGIONAL $ $ ALLENSTOWN/ DEPOT HILL/ GREAT KEPPEL IS/ ROCKHAMPTON/ WANDAL $ $ CENTRAL QLD UNI/ FRENCHVILLE/ KALKA/ 4701 KOONGAL/ LAKES CK/ NERIMBERA/ NTH ROCKHAMPTON/ OASIS GARDENS/ PK $ $ AVENUE PO/ ROCKHAMPTON LIVINGSTONE SHIRE $ $ AMBROSE/ BANANA/ BARALABA/ GINDIE/ GRACEMERE/ JERICHO/ KEPPEL SANDS/ 4702 SAPHIRE/ STANWELL/ RUBYVALE/ $200 8 $200 5 WESTWOOD/ WOORABINDA/ WOWAN/ YARAKA ETC BAYFIELD/ BUNGUNDARRA/ BYFIELD/ COOEE BAY/ FARNBOROUGH/ KEMP 4703 BCH/ KINKA BCH/ LAMMERMOOR $ $ BCH/ STATUTE BAY/ TARANGANBA/ WOODBURY/ YEPPOON CENTRAL HIGHLANDS REGIONAL $ $ BLACKWATER $150 9 $ EMERALD $ $ SPRINGSURE $143 8 N/A N/A LIVINGSTONE (LGA) 79 $387, % $375, % -2.1% $383,000 LIVINGSTONE (LGA) ^ 33 $467, % $470, % 2.2% $460,000 EMU PARK 7 N/A N/A $317, % -15.6% $376,000 LAMMERMOOR 12 N/A N/A $422, % -1.2% $427,500 YEPPOON 13 N/A N/A $357, % -5.0% $376,500 ZILZIE 5 N/A N/A $375, % -3.8% $390,000 S MARKET - UNITS & TOWNHOUSES ROCKHAMPTON (LGA) 20 $264, % $309, % 10.6% $280,000 ROCKHAMPTON CITY 1 N/A N/A $435, % 11.8% $389,000 SURROUNDS LIVINGSTONE (LGA) 20 $252, % $345, % 4.5% $330,000 YEPPOON 12 N/A N/A $343, % -9.6% $380,000 S MARKET - VACANT LAND ROCKHAMPTON (LGA) 8 N/A N/A $159, % 18.1% $135,000 GRACEMERE 2 N/A N/A $148, % 10.4% $134,500 NORMAN GARDENS 3 N/A N/A $170, % -2.9% $175,000 RENTAL MARKET - 3 BED TOWNHOUSES ROCKHAMPTON REGIONAL $340 7 $ CENTRAL QLD UNI/ FRENCHVILLE/ KALKA/ KOONGAL/ LAKES CK/ NERIMBERA/ NTH ROCKHAMPTON/ OASIS GARDENS/ PK $330 6 $360 5 AVENUE PO/ ROCKHAMPTON LIVINGSTONE SHIRE $ $ AMBROSE/ BANANA/ BARALABA/ GINDIE/ GRACEMERE/ JERICHO/ KEPPEL SANDS/ SAPHIRE/ STANWELL/ RUBYVALE/ $350 7 N/A 4 WESTWOOD/ WOORABINDA/ WOWAN/ YARAKA ETC 4703 BAYFIELD/ BUNGUNDARRA/ BYFIELD/ COOEE BAY/ FARNBOROUGH/ KEMP BCH/ KINKA BCH/ LAMMERMOOR $ $300 6 BCH/ STATUTE BAY/ TARANGANBA/ WOODBURY/ YEPPOON CENTRAL HIGHLIGHTS REGIONAL $210 8 $ EMERALD $210 8 $ SURROUNDS LIVINGSTONE (LGA) 26 $172, % $170, % 6.3% $160,000 HIDDEN VALLEY 4 N/A N/A $176, % -54.0% $382,250 PARKHURST 7 N/A N/A $165, % -25.0% $220,000 ZILZIE 2 N/A N/A $159, % -6.5% $170,000 RENTAL MARKET - 3 BED HOUSES POST MAR-16 MAR-15 CODE LOCALITY L $/WEEK NEW BONDS $/WEEK NEW BONDS ROCKHAMPTON REGIONAL $ $ ALLENSTOWN/ DEPOT HILL/ GREAT KEPPEL IS/ ROCKHAMPTON/ WANDAL $ $ CENTRAL QLD UNI/ FRENCHVILLE/ KALKA/ 4701 KOONGAL/ LAKES CK/ NERIMBERA/ NTH ROCKHAMPTON/ OASIS GARDENS/ PK $ $ AVENUE PO/ ROCKHAMPTON LIVINGSTONE SHIRE $ $ AMBROSE/ BANANA/ BARALABA/ GINDIE/ GRACEMERE/ JERICHO/ 4702 KEPPEL SANDS/ SAPHIRE/ STANWELL/ $ $ RUBYVALE/ WESTWOOD/ WOORABINDA/ WOWAN/ YARAKA ETC BAYFIELD/ BUNGUNDARRA/ BYFIELD/ COOEE BAY/ FARNBOROUGH/ KEMP 4703 BCH/ KINKA BCH/ LAMMERMOOR $ $ BCH/ STATUTE BAY/ TARANGANBA/ WOODBURY/ YEPPOON 4710 EMU PARK, ZILZIE $ $ MOUNT MORGAN CENTRAL HIGHLANDS REGIONAL $ $ BLACKWATER $ $ EMERALD $ $ ROCKHAMPTON & LIVINGSTONE UNIT S <$250k $250K+ $350K+ $500k ROCKHAMPTON & LIVINGSTONE LAND S TOWNSVILLE UNIT S <$250k $250K+ $350K <$250k $250K+ $350K+ $500k+ 3 MARCH QUARTER

38 REGIONAL MARKET UPDATES MACKAY Similar to other resources-reliant areas, Mackay s residential property market has contracted to levels of about a decade ago. Distressed investors are exiting the market while bank repossessions remain higher than the historical average. Local agent projections remain conservative and the jobs market continues to rely on the casual employment regime. The one demographic taking advantage of improved affordability is the young first-home buyer, who was previously unable to compete with investors. The need for a strong capital works program in the region is high. The realignment of the Eton Range, Peak Downs Highway, a project of about $189 million, has commenced and has created jobs in the area. However, material benefits on the economy and the residential property market are yet to be seen. Stage 1 of the Mackay Ring Road project is in the detailed design phase with construction expected to commence in mid Due to the lengthy project planning and development phases, locals remain sceptic about the implementation of the project. Most likely, the economic benefit from this project will materialise in the medium to long-term. In April 2016, the Queensland Government has approved mining leases for the $21.7 billion Carmichael coal mine and rail project in the Galilee Basin. Further approvals are still required before construction starts. Following the construction of the Ibis Motel at the airport, the next step is to give the green light to international flights and the plan is to start opening direct flights between Mackay and New Zealand. The Mackay tourism industry may see a boost if this eventuates. The Mackay rental market has not yet shown signs of improvement with investors exiting the market in the context of high vacancy rates in the region, primarily for units. The residential property market remains subdued while the average vendor discount for both units and houses is one of the largest in the State. Locals still predict that the market has not yet reached the bottom, but many market observers agree it is close. The implementation of key infrastructure projects in the area remains on the horizon for the region. HOUSE MARKET The average vendor discount is still increasing, which is a reflection of the constraints being experienced in the residential property market. Recent statistics show that the average vendor discount has reached 12.2 per cent in February 2016 compared to 4.8 per cent about a decade ago, 6.1 per cent about five years ago and 10.6 per cent about 12 months ago. UNIT MARKET The unit market is soft as the median sale price of new units is similar to an older detached house and owneroccupiers prefer to buy a house rather than a unit. The annual median sale price for units is about $257,500 in March 2016 compared to $311,500 about 12 months ago. This represents a reduction of about 17.3 per cent for the 12 months to March The quarterly fall from December 2015 was 12 per cent. The average days on market for units fluctuated between four to five months while the vendor discount reached levels above 15 per cent in February RENTAL MARKET Distressed investors are leaving the market at a rapid rate and bank repossessions remain higher than the historical average. Local agents report that the amount of valuations for repossessions has risen sharply over the past 12 months. The weekly median rent for three-bed houses, two-bed units and three-bed townhouses have all reduced in the past 12 months by 10.9 per cent, 13 per cent and 6.3 per cent, respectively. Some investors are struggling to maintain their investment properties without tenants and the vacancy rate is the second highest in Queensland at around eight to nine per cent. Local agents indicate that the majority of unoccupied rental properties appear to be units in the suburbs. In some areas, tenants are now able to rent a house for a similar amount they paid for a unit about 12 to 24 months ago. New residential developments have virtually ceased and it is now a matter of waiting for population growth to absorb the excess stock and reduce the vacancy rate. Jobs growth would help this absorption as people relocate to the area to find work. Confidence in the market remains weak due to casual employment becoming the norm more than the exception. The median sale price for the March quarter was $332,500 compared to $339,000 in the December quarter. The 12 months to March 2016 saw a reduction in the annual median sale of about 10.6 per cent 130 MACKAY HOUSE S The largest volume of activity in the sales market for houses remains in the low-end price range. The volume of sold houses up to the $350,000 price point increased from 107 in the September 2015 quarter to 130 in the December 2015 quarter. The activity is primarily driven by first-home buyers and owner-occupiers who previously were priced out of the market <$350K $350K+ $500k+ Houses<2,400m QUEENSLAND MARKET MONITOR

39 BRISBANE SURROUNDS UNIT S S MARKET - HOUSES S MACKAY (LGA) 172 $332, % 60 $345, % -14.8% $405, MACKAY (LGA) ^ 27 $450, % $435, % -10.3% $485,000 <$250k $250K+ $350K+ $500k+ $1M+ ANDERGROVE 16 N/A N/A $305, % -22.3% $392,500 BEACONSFIELD 9 N/A N/A $340, % -16.0% $405,000 BLACKS BEACH 2 N/A N/A $355, % -26.0% $480,000 BUCASIA 9 N/A N/A $340, % -20.9% $430,000 EAST MACKAY 9 N/A N/A $395, % -7.1% $425,000 EIMEO 7 N/A N/A $356, % -20.3% $446,500 GLENELLA 7 N/A N/A $495, % -6.2% $527,500 MARIAN 9 N/A N/A $400,000 TOOWOOMBA UNIT S -13.0% -6.1% $426,000 MOUNT PLEASANT 4 N/A Sep-15 Dec-15 N/A Mar-16 $370,000 * -7.5% -11.9% $420,000 NORTH MACKAY N/A N/A $265, % -25.8% $357,000 OORALEA 9 N/A N/A $420, % -17.1% $506,500 RURAL VIEW 12 N/A 62 N/A $377, % -17.6% $458,000 SARINA 2 N/A 50 N/A $220, % -26.7% $300,000 SLADE POINT35 3 N/A N/A $325, % -12.4% $371, SOUTH MACKAY 15 N/A N/A $275, % -25.7% $370,000 WALKERSTON 9 N/A N/A $355, % % 8 8 $443,750 WEST MACKAY 16 N/A N/A $334, % -10.2% $372,000 <$250k $250K+ $350K+ $500k+ SURROUNDS ISAAC (LGA) 20 $85, % $151, % -65.1% $432,500 MORANBAH 5 N/A N/A $190, % -59.5% $469,000 RENTAL MARKET - 3 BED HOUSES REGIONAL MARKET UPDATES POST MAR-16 MAR-15 CODE LOCALITY L $/WEEK NEW BONDS $/WEEK NEW BONDS MACKAY REGIONAL $ $ SARINA/ SARINA BEACH/ ARMSTRONG BEACH $ $ MACKAY $ $ VARIOUS ISLANDS/ CLAIRVIEW/ ETON/ FARLEIGH/ FLAGGY ROCK/ GARGETT/ MT CHRISTIAN/ MT OSSA/ OAKENDEN/ $320 6 $ PINNACLE/ PLEYSTOWE/ SEAFORTH/ YALBOROO 4750 BUCASIA/ SEAVIEW HEIGHTS/ SHOAL PT $ $ PALMYRA/ WALKERSTON $295 9 $ ISAAC REGIONAL $ $ CLERMONT $ $ NEBO $ $ MORANBAH $ $ DYSART $ $ MIDDLEMOUNT $ $300 8 WHITSUNDEY REGIONAL $ $ CANNON VALLEY/ CONWAY/ DINGO BCH/ ERLANDO BCH/ MT JULIAN/ MT MARLOW/ NTH GREGORY/ PROSERPINE/ $ $ RIORDANVALE/ STRATHDICKIE/ WILSON BCH 4802 AIRLIE BCH/ CANNONVALE/ JUBILEE/ SHUTE HARBOUR/ SHUTEHAVEN/ $ $ WHITSUNDAY 4804 COLLINSVILLE $200 6 $ BOWEN $ WHITSUNDAY (LGA) 41 $297, % $365, % -1.4% $370,000 WHITSUNDAY (LGA) ^ 17 N/A N/A $435, % -5.9% $462,500 BOWEN 12 FRASER N/A COAST N/A UNIT S $267, % -26.7% $365,000 CANNONVALE 10 N/A N/A $427, % -2.5% $438, PROSERPINE 11 N/A N/A $260, % -14.8% $305, S MARKET - UNITS 27 & TOWNHOUSES 24 MACKAY (LGA) $220, % $257, % -18.3% $315,000 MACKAY 7 N/A N/A 7 $295, % -11.5% $333, SURROUNDS <$250k $250K+ $350K+ $500k+ WHITSUNDAY (LGA) 20 $285, % $285, % -7.3% $307,500 AIRLIE BEACH 7 N/A N/A $363, % -1.8% $370,000 CANNONVALE 8 N/A N/A $254, % -26.2% $345,000 S MARKET - VACANT LAND MACKAY (LGA) 25 GLADSTONE $175, % UNIT S $174, % -4.5% $183,000 RURAL VIEW 5 N/A Sep-15 Dec-15 N/A Mar-16 $150,000 * -26.3% -28.2% $209, SURROUNDS WHITSUNDAY (LGA) 19 N/A N/A $172, % 7.5% $160,000 9 CANNONVALE N/A N/A $174, % 28.9% $135, <$250k $250K+ $350K+ $500k+ RENTAL MARKET - 2 BED UNITS MACKAY REGIONAL $ $ SARINA/ SARINA BEACH/ ARMSTRONG BEACH $ $ MACKAY $ $ BUCASIA/ SEAVIEW HEIGHTS/ SHOAL PT $200 6 $170 5 ISAAC REGIONAL $ $ CLERMONT $175 5 $ MORANBAH $ $ MIDDLEMOUNT $200 5 N/A 4 WHITSUNDEY REGIONAL $ $ CANNON VALLEY/ CONWAY/ DINGO BCH/ ERLANDO BCH/ MT JULIAN/ MT MARLOW/ NTH GREGORY/ PROSERPINE/ $ $ RIORDANVALE/ STRATHDICKIE/ WILSON BCH 4802 AIRLIE BCH/ CANNONVALE/ JUBILEE/ SHUTE HARBOUR/ SHUTEHAVEN/ $ $ WHITSUNDAY 4805 BOWEN $ $ RENTAL MARKET - 3 BED TOWNHOUSES MACKAY REGIONAL $ $ MACKAY $ $ ISAAC REGIONAL $ $ MORANBAH $ $ DYSART $175 7 N/A 4 WHITSUNDEY REGIONAL $ $ AIRLIE BCH/ CANNONVALE/ JUBILEE/ SHUTE HARBOUR/ SHUTEHAVEN/ $ $ WHITSUNDAY 4805 BOWEN $ N/A 2 22 MACKAY UNIT S 45 MACKAY LAND S <$250k $250K+ $350K+ $500k <$250k $250K+ $350K+ MARCH QUARTER

40 REGIONAL MARKET UPDATES TOWNSVILLE The residential property market in Townsville remained soft during the March quarter while conditions in the job market continued weakening. Owner-occupiers looking to upgrade were very active in the market while sellers were faced with average vendor discounts above nine per cent. Following the announcement of 550 job losses from the nickel refinery shutdown, the Queensland State Government announced a $367 million accelerated works program for northern Queensland. This includes $210 million for projects in Townsville that will support more than 480 jobs. The State Government also recently announced the merger of Ergon and Energex and the new company s (Energy Australia) headquarters will be in Townsville. The recently announced Australia-Singapore strategic partnership brings hope to the region as Singapore will potentially invest up to $2.25 billion in the expansion of two of Australia s most important military training facilities, the Shoalwater Bay (Rockhampton) training area and the Townsville field training area.this is probably the largest project in the area, which could potentially boost the local economy. Locals feel the residential property market is close to stabilising. Similarly, local agents are optimistic the bottom of the cycle has been reached and the outlook over the next 18 months to two years is brighter. Large-scale developments and infrastructure projects that would give the area a real boost, such as the Townsville Port Expansion (potential investment of $1.49 billion) remains frustratingly in limbo. The proposed North Queensland Cowboys Stadium, has just received additional funding commitment from the State Government to fund extra $40 million on top of the $100 million previously committed. The Coalition has recently promised to match the Labor funding for the Townsville stadium. The Townsville rental market continues showing signs of oversupply with the vacancy rate remaining around six per cent during the March quarter. The green shoots of recovery are not yet visible in the Townsville market, with median sale prices for houses and units slipping moderately. Vacancy rates are high, at six per cent, although March quarter represented a slight tightening of the market by 0.4 per cent. International investment from the Singapore Government in the army training facility and the State Government accelerated works should result in economic improvement, which we expect will favour the performance of the property market in the long run. HOUSE MARKET The March quarter is usually very active for the Townsville sales market, however, March 2016 has not shown the usual cyclical trend and the quarterly median sale price fell by 8.3 per cent. Local agents note that the market remains challenging with low investor activity. The median sale price has fallen by seven per cent, from $373,000 to $347,000 over five years, to March Local agents are also reporting more activity in the price range between $350,000 and $500,000 as locals are taking advantage of the discounted prices and are actively looking to upgrade. This is reflected in the stable volume of house sales between $350,000 and $500,000 during the September and December 2015 quarters. The proposed North Queensland Stadium is now closer to become a reality with the extra $40 million committed by the State Government and also the commitment from the Coalition to match the Labor promise to fund the Townsville stadium. UNIT MARKET Stock levels in the unit market remain high and the market is still trying to source demand for new apartments. The annual median sale price was $280,000 for the March quarter, which represented a reduction of 1.8 per cent for a 12-month period and 14.1 per cent over a five-year period. Average days on market for units remained close to four months, which just demonstrates the slow pace of the market. RENTAL MARKET Similar to other regional areas in Queensland, the rental market has been hit by a reduction in demand and an increase in supply. The vacancy rates in the area are in the vicinity of six per cent, having increased from a twoto-three per cent range in the past three years. Within this context, landlords have to be more creative keeping and attracting tenants. Local agents are finding it challenging to educate investors about the new market conditions. The recent negative gearing debate is creating concerns as investors develop fears that the resale value of their property is going to drop further. Depending on the property features and number of bedrooms, the median weekly rent has reduced in the range of 2.8 per cent and 6.1 per cent in the past 12 months. This is another sign of the challenges being experienced by the rental market. Despite reduction in the weekly median rent, gross rental yields increased for both houses and units to 4.9 per cent and 5.2 per cent, respectively. The reduction in the median sale price supported the increase in the gross rental yield. 40 QUEENSLAND MARKET MONITOR

41 REGIONAL MARKET UPDATES S MARKET - HOUSES S MARKET - HOUSES (CONT D) S S TOWNSVILLE (LGA) 419 $330, % $347, % -7.0% $373,000 TOWNSVILLE (LGA) ^ 48 $417, % $417, % -4.1% $435,000 AITKENVALE 4 N/A N/A $321, % -6.8% $344,500 ALICE RIVER ^ 7 N/A N/A $470, % -1.1% $475,000 ANNANDALE 30 $380, % $415, % -10.1% $461,750 BOHLE PLAINS 9 N/A N/A $422, % -5.1% $445,000 BURDELL 15 N/A N/A $411, % -1.5% $417,500 BUSHLAND BEACH 13 N/A N/A $385, % -5.6% $407,780 CONDON 11 N/A N/A $286, % -12.8% $328,000 CRANBROOK 14 N/A N/A $290, % -10.8% $325,000 CURRAJONG 8 N/A N/A $286, % -3.1% $295,000 DEERAGUN 7 N/A N/A $317, % -9.3% $350,000 DOUGLAS 21 $420, % $399, % -4.8% $419,000 GULLIVER 11 N/A N/A $276, % -9.5% $305,000 HEATLEY 8 N/A N/A $248, % -19.5% $309,000 HERMIT PARK 9 N/A N/A $340, % -12.8% $390,000 HYDE PARK 5 N/A N/A $395, % 12.9% $350,000 IDALIA 14 N/A N/A $513, % 6.2% $483,000 KELSO 16 N/A N/A $265, % -20.9% $335,000 KIRWAN 51 $327, % $335, % -8.2% $365,000 MOUNT LOUISA 24 $428, % $399, % -2.7% $411,000 MUNDINGBURRA 10 N/A N/A $339, % -8.4% $371,000 NORTH WARD 7 N/A N/A $680, % 8.8% $625,000 OONOONBA 5 N/A N/A $308, % -0.5% $310,000 RAILWAY ESTATE 16 N/A N/A $335, % 1.5% $330,000 RANGEWOOD ^ 2 N/A N/A $465, % -7.0% $500,000 RASMUSSEN 15 N/A N/A $380, % 31.0% $290,000 SOUTH TOWNSVILLE 5 N/A N/A $344, % -11.2% $387,500 THURINGOWA CENTRAL 6 N/A N/A $293, % -20.5% $369,000 VINCENT 5 N/A N/A $240, % -15.1% $282,750 WEST END 6 N/A N/A $360, % -2.7% $370,000 WULGURU 7 N/A N/A $293, % -8.2% $320,000 SURROUNDS BURDEKIN (LGA) 28 $180, % $180, % -28.0% $250,000 AYR 15 N/A N/A $190, % -26.4% $258,000 CHARTERS TOWERS (LGA) 8 N/A N/A $178, % -15.1% $210,000 CHARTERS TOWERS CITY 1 N/A N/A $150, % -21.5% $191,000 HINCHINBROOK (LGA) 14 N/A N/A $215, % -15.7% $255,000 INGHAM 7 N/A N/A $202, % -18.2% $247,500 S MARKET - UNITS & TOWNHOUSES TOWNSVILLE (LGA) 97 $260, % $280, % -14.1% $326,000 BELGIAN GARDENS 4 N/A N/A $325, % -3.7% $337,500 DOUGLAS 4 N/A N/A $307, % -5.1% $323,500 NORTH WARD 19 N/A N/A $297, % -17.4% $360,000 PIMLICO 1 N/A N/A $205, % -23.5% $268,000 SOUTH TOWNSVILLE 2 N/A N/A $365, % -31.1% $530,000 TOWNSVILLE CITY 7 N/A N/A $390, % -17.0% $470,000 WEST END 6 N/A N/A $180, % -39.1% $297,000 S MARKET - VACANT LAND TOWNSVILLE (LGA) 40 $167, % $159, % -1.5% $162,000 TOWNSVILLE (LGA) ^ 2 N/A N/A $200, % -9.1% $220, TOWNSVILLE HOUSE S BOHLE PLAINS 0 N/A N/A $158, % -8.8% $173,250 BURDELL 1 CAIRNS & DOUGLAS HOUSE S N/A N/A $154, % -8.2% $168,500 BUSHLAND BEACH 7 N/A N/A $152, % -0.7% $153,000 KELSO 0 N/A 338 N/A 312 $140, % -6.6% $149,900 MOUNT LOUISA 2 N/A N/A $175, % 3.6% $168,900 MOUNT LOW N/A N/A $162, % 6.1% 178 $152,750 OONOONBA N/A N/A $142, % -31.0% 150 $205,900 SHAW 4 N/A N/A $158, % -53.3% 97 $339, <$350K $350K+ $500k TOWNSVILLE UNIT S <$250k $250K+ $350K+ $500k+ TOWNSVILLE LAND S <$250k $250K+ $350K RENTAL MARKET - 3 BED HOUSES <$350K $350K+ $500k+ Houses<2,400m POST MAR-16 MAR-15 CODE LOCALITY L $/WEEK NEW BONDS $/WEEK NEW BONDS TOWNSVILLE CITY $ $ BELGIAN GARDENS/ CAPE CLEVELAND/ CASTLE HILL/ NTH WARD/ PALLARENDA/ $335 RAILWAY ESTATE/ ROWES BAY/ 68 $ TOWNSVILLE/ WEST END/ YARRAWONGA CLUDEN/ IDALIA/ JAMES COOK UNI/ MT STUART/ OAK VALLEY/ OONOONBA/ PARTINGTON/ ROSENEATH/ SERENE $ $ VALLEY/ STUART/ WULGURU CURRAJONG/ GULLIVER/ HERMIT PK/ HYDE PK/ HYDE PK CASTLETOWN/ MUNDINGBURRA/ MYSTERTON/ $ $ PILMICO/ RISING SUN/ ROSSLEA AITKENVALE/ CRANBROOK/ DOUGLAS/ GARBUTT/ HEATLEY/ MT ELLIOT/ MT $ $ LOUISA/ MURRAY/ VINCENT CONDON/ KELSO/ PINNACLES/ RASMUSSEN $ $ ALLIGATOR CK/ DUNK IS/ GREENVALE/ HIDDEN VALLEY/ HOMESTEAD/ JULAGO/ MACROSSAN/ MAJORS CK/ MINGELA/ MUTARNEE/ NELIA/ NOME/ PALM $ $ IS/ PALUMA/ PENTLAND/ PRAIRE/ RAVENSWOOD/ ROLLINGSTONE/ SELLHEIM/ TOONPAN/ TORRENS CK/ WOODSTOCK ALICE RIVER/ BOHLE PLNS/ KIRWAN/ RANGEWOOD/ RUPERTSWOOD/ $ $ STABLEFORD/ THURINGOWA CENTRAL MARCH QUARTER

42 REGIONAL MARKET UPDATES 42 QUEENSLAND MARKET MONITOR

43 REGIONAL MARKET UPDATES RENTAL MARKET - 3 BED HOUSES (CONT D) POST MAR-16 MAR-15 CODE LOCALITY L $/WEEK NEW BONDS $/WEEK NEW BONDS BEACH HOLM/ BLACK RIVER/ BLUE HILLS/ BLUEWATER/ BOHLE/ BURDELL/ 4818 BUSHLAND BCH/ CARINYA/ CORDELIA/ DEERAGUN/ INNES/ JENSEN/ LYNAM/ MT LOW/ PURONO PK/ SAUNDERS BCH/ SHAW/ TOOLAKEA/ YABULU $ $ ARCADIA/ ARCADIA BAY/ HORSESHOE BAY/ $290 MAGNETIC IS/ NELLY BAY/ PICNIS BAY 10 $ BURDEKIN SHIRE $ $ ARKENDEITH $ $ AIRVILLE $ $ CHARTERS TOWERS REGIONAL $ $ RICHMOND HILL $ $ HINCHINBROOK SHIRE $ $ ABERGOWRIE $ $ RENTAL MARKET - 2 BED UNITS TOWNSVILLE CITY $ $ BELGIAN GARDENS/ CAPE CLEVELAND/ CASTLE HILL/ NTH WARD/ PALLARENDA/ $285 RAILWAY ESTATE/ ROWES BAY/ 381 $ TOWNSVILLE/ WEST END/ YARRAWONGA CLUDEN/ IDALIA/ JAMES COOK UNI/ 4811 MT STUART/ OAK VALLEY/ OONOONBA/ PARTINGTON/ ROSENEATH/ SERENE $ $ VALLEY/ STUART/ WULGURU 4812 CURRAJONG/ GULLIVER/ HERMIT PK/ HYDE PK/ HYDE PK CASTLETOWN/ MUNDINGBURRA/ MYSTERTON/ $ $ PILMICO/ RISING SUN/ ROSSLEA 4814 AITKENVALE/ CRANBROOK/ DOUGLAS/ GARBUTT/ HEATLEY/ MT ELLIOT/ MT LOUISA/ MURRAY/ VINCENT $ $ CONDON/ KELSO/ PINNACLES/ RASMUSSEN $ $ ALICE RIVER/ BOHLE PLNS/ KIRWAN/ 4817 RANGEWOOD/ RUPERTSWOOD/ $ $ STABLEFORD/ THURINGOWA CENTRAL 4818 BEACH HOLM/ BLACK RIVER/ BLUE HILLS/ BLUEWATER/ BOHLE/ BURDELL/ BUSHLAND BCH/ CARINYA/ CORDELIA/ DEERAGUN/ INNES/ JENSEN/ LYNAM/ MT LOW/ PURONO PK/ SAUNDERS BCH/ SHAW/ TOOLAKEA/ YABULU $ $ ARCADIA/ ARCADIA BAY/ HORSESHOE BAY/ $280 MAGNETIC IS/ NELLY BAY/ PICNIS BAY 12 $ BURDEKIN SHIRE $ $ AIRVILLE $ $ CHARTERS TOWERS REGIONAL $ $ RICHMOND HILL $ $ HINCHINBROOK SHIRE $ $ ABERGOWRIE $ $ RENTAL MARKET - 3 BED TOWNHOUSES TOWNSVILLE CITY $ $ BELGIAN GARDENS/ CAPE CLEVELAND/ CASTLE HILL/ NTH WARD/ PALLARENDA/ $375 RAILWAY ESTATE/ ROWES BAY/ 11 $325 8 TOWNSVILLE/ WEST END/ YARRAWONGA CURRAJONG/ GULLIVER/ HERMIT PK, HYDE PK/ HYDE PK CASTLETOWN/ MUNDINGBURRA/ MYSTERTON/ $ $380 8 PILMICO/ RISING SUN/ ROSSLEA AITKENVALE/ CRANBROOK/ DOUGLAS/ GARBUTT/ HEATLEY/ MT ELLIOT/ MT $350 7 $ LOUISA/ MURRAY/ VINCENT ALICE RIVER/ BOHLE PLNS/ KIRWAN/ RANGEWOOD/ RUPERTSWOOD/ $310 8 $350 6 STABLEFORD/ THURINGOWA CENTRAL BEACH HOLM/ BLACK RIVER/ BLUE HILLS/ BLUEWATER/ BOHLE/ BURDELL/ BUSHLAND BCH/ CARINYA/ CORDELIA/ DEERAGUN/ INNES/ JENSEN/ LYNAM/ $330 5 N/A 1 MT LOW/ PURONO PK/ SAUNDERS BCH// SHAW/ TOOLAKEA/ YABULU MARCH QUARTER

44 REGIONAL MARKET UPDATES CAIRNS Buyers of houses are predominantly owner-occupiers who are looking to upgrade or to buy their first home. The unit market is more diversified, having owner-occupiers and investors who are attracted to the solid rental yields. Demand for houses in the $350,000 to $450,000 range is steady, while the highest demand for units sits in the $250,000 range. The Cairns rental market is one of the best performers in Queensland with vacancy rates remaining generally below 2.5 per cent since March 2012 and weekly median rent staying steady over the past 12 months. The outlook for the Cairns residential property market remains positive with expectations of the median sale prices showing sustained, moderate growth. The fundamentals of the market are positive as buyer demand appears to be relatively aligning with supply at least at the present time. The Cairns housing market remains rising while the unit market is firmly in recovering phase when compared with the market five years ago. The Cairns Hospital Redevelopment is one of the largest projects, which has potentially boosted the region and its economy. The last $40 million of a total expenditure of over $445 million is on track at present. Other infrastructure projects in the region include repairs of the Cairns Convention Centre, the upgrade of the Bruce Highway between Robert Road and Foster Road, and the planning and construction of the Yarrabah Jetty. HOUSE MARKET The Cairns property cycle usually experiences a contraction during the December quarter. Following a different trend, local agents have indicated that this year the cyclical contraction extended until nearly April. This is supported by a second quarter reduction in the Cairns median sale price by 4.1 per cent in March Despite falls over the past two quarters, Cairns is in the rising house market phase and the annual median sale price showed a moderate increase of 3.3 per cent and a five-year median price growth of 9.6 per cent. New residential property developments are limited in number, hence the moderate but sustained price increase is a reflection of supply keeping up with local demand. The average days on market increased slightly from 66 days in February 2015 to 72 days in February Despite the increase, this ratio remains in similar levels than other areas in the southeast corner. UNIT MARKET The annual median sale price for units showed a slight increase of 2.7 per cent in March 2016, however the five-year median sale price fell 12.1 per cent. In response to the medium-term median sale price reduction and potentially as a supply correction, medium to high-density residential property developments in Cairns are currently limited to small complexes and usually they are not located in the CBD area. New developments in the unit market are even more constrained compared to houses. The unit market contracted in the March quarter with the median sale price dropping by 4.9 per cent to $223,500. Both the average days on market and the average vendor discount showed a steady trend in the 12 months to February 2016 compared to the same period a year ago. The average days on market were about three months and the average vendor discount remained slightly above seven per cent. Not bad for a market which may be in an oversupply correction trend. RENTAL MARKET Rental demand is high in Cairns with the vacancy rates siting at 2.1 per cent for the March quarter. Local agents indicate that decent size two-bedroom, two-bathroom apartments are in demand compared to one-bedroom apartments and studios. Median weekly rents for threebedroom houses and two-bedroom flats have remained unchanged in the past 12 months to March Rental yields for apartments are sitting around six per cent, while rental yields for houses are about 4.7 per cent. Properties are renting very quickly and do not stay vacant for a long time. Local agents are always on the hunt for rental stock CAIRNS & DOUGLAS HOUSE S <$350K $350K+ $500k+ Houses<2,400m CAIRNS & DOUGLAS UNIT S CAIRNS & DOUGLAS LAND S <$250k $250K+ $350K+ $500k+ $1M+ <$250k $250K+ $350K QUEENSLAND MARKET MONITOR

45 REGIONAL MARKET UPDATES S MARKET - HOUSES S MARKET - UNITS & TOWNHOUSES (CONT D) S S CAIRNS (LGA) 439 $386, % $400, % 9.6% $365,000 CAIRNS (LGA) ^ 25 $682, % $635, % -9.3% $700,000 BAYVIEW HEIGHTS 9 N/A N/A $385, % 11.6% $345,000 BENTLEY PARK 31 $360, % $360, % 10.8% $325,000 BRINSMEAD 13 N/A N/A $447, % 11.9% $400,000 BUNGALOW 4 N/A N/A $375, % 21.0% $310,000 CARAVONICA 9 N/A N/A $368, % 2.2% $360,000 CLIFTON BEACH 10 N/A N/A $521, % 9.1% $477,500 EARLVILLE 11 N/A N/A $367, % 21.7% $302,000 EDGE HILL 10 N/A N/A $480, % 7.7% $445,500 EDMONTON 38 $342, % $335, % 6.3% $315,000 FRESHWATER 6 N/A N/A $511, % 5.4% $485,000 GOLDSBOROUGH ^ 2 N/A N/A $483, % 21.6% $397,500 GORDONVALE 18 N/A N/A $313, % 14.0% $275,000 GORDONVALE ^ 2 N/A N/A $647, % 13.0% $573,000 HOLLOWAYS BEACH 7 N/A N/A $400, % 15.3% $347,000 KANIMBLA 4 N/A N/A $529, % 25.4% $422,250 KEWARRA BEACH 26 $403, % $420, % 6.3% $395,000 MANOORA 12 N/A N/A $311, % 5.4% $295,000 MANUNDA 9 N/A N/A $309, % 4.9% $295,000 MOOROOBOOL 22 $395, % $386, % 8.7% $355,500 MOUNT SHERIDAN 41 $340, % $370, % 8.8% $340,000 PALM COVE 8 N/A N/A $648, % 37.2% $472,500 PARRAMATTA PARK 5 N/A N/A $435, % 14.5% $380,000 REDLYNCH 25 $465, % $460, % 13.3% $406,000 SMITHFIELD 27 $415, % $415, % 15.3% $360,000 TRINITY BEACH 19 N/A N/A $490, % 30.7% $375,000 TRINITY PARK 12 N/A N/A $430, % 13.2% $380,000 WESTCOURT 3 N/A N/A $366, % 22.0% $300,000 WHITE ROCK 8 N/A N/A $325, % 17.1% $278,000 WHITFIELD 14 N/A N/A $480, % 6.7% $450,000 WOREE 7 N/A N/A $358, % 17.1% $306,250 SURROUNDS CASSOWARY COAST (LGA) 38 $217, % $230, % -11.5% $260,000 CASSOWARY COAST (LGA) ^ 19 N/A N/A $350, % 0.0% $350,000 DOUGLAS (LGA) 33 $437, % $435, % 12.3% $387,500 PORT DOUGLAS 14 N/A N/A $527, % -7.5% $570,000 MAREEBA (LGA) 19 N/A N/A $275, % -1.8% $280,000 MAREEBA (LGA) ^ 16 N/A N/A $450, % 6.5% $422,500 KURANDA ^ 7 N/A N/A $469, % 10.4% $425,000 MAREEBA 16 N/A N/A $275, % -1.8% $280,000 TABLELANDS (LGA) 45 $309, % $308, % 2.7% $300,000 TABLELANDS (LGA) ^ 28 $439, % $417, % 5.7% $395,000 ATHERTON 23 $327, % $317, % -0.8% $320,000 TOL GA ^ 4 N/A N/A $407, % -9.4% $450,000 S MARKET - UNITS & TOWNHOUSES CAIRNS (LGA) 233 $223, % $226, % -12.1% $257,000 BUNGALOW 10 N/A N/A $164, % 7.5% $152,500 CAIRNS CITY 25 $367, % $370, % -17.4% $448,000 CAIRNS NORTH 30 $262, % $240, % -15.2% $283,000 EARLVILLE 2 N/A N/A $215, % -17.9% $262,000 EDGE HILL 9 N/A N/A $187, % -17.3% $226,000 EDMONTON 3 N/A N/A $183, % 1.7% $180,000 FRESHWATER 3 N/A N/A $315, % 21.2% $260,000 MANOORA 19 N/A N/A $164, % -0.6% $165,000 MANUNDA 14 N/A N/A $150, % -16.7% $180,000 MOOROOBOOL 8 N/A N/A $200, % -3.6% $207,500 PALM COVE 17 N/A N/A $274, % -23.8% $360,000 PARRAMATTA PARK 11 N/A N/A $248, % 1.4% $245,000 TRINITY BEACH 19 N/A N/A $269, % -5.6% $285,000 WESTCOURT 6 N/A N/A $222, % 48.0% $150,000 WOREE 8 N/A N/A $125, % -16.1% $149,500 YORKEYS KNOB 6 N/A N/A $209, % -18.4% $256,000 SURROUNDS DOUGLAS (LGA) 46 $228, % $219, % -6.0% $233,000 PORT DOUGLAS 41 $225, % $217, % -5.4% $230,000 ATHERTON 2 N/A N/A $210, % -11.6% $237,500 S MARKET - VACANT LAND CAIRNS (LGA) 59 $200, % $207, % 18.3% $175,000 EDMONTON 12 N/A N/A $153, % 8.4% $142,000 GORDONVALE 3 N/A N/A $141, % 14.2% $123,500 KANIMBLA 4 N/A N/A $250, % 16.3% $215,000 KEWARRA BEACH 3 N/A N/A $247, % -4.8% $260,000 REDLYNCH 5 N/A N/A $242, % 38.3% $175,000 SMITHFIELD 6 N/A N/A $214, % 19.2% $180,000 TRINITY PARK 6 N/A N/A $221, % 18.8% $186,500 SURROUNDS CASSOWARY COAST (LGA) 14 N/A N/A $88, % -34.8% $135,000 MISSION BEACH 2 N/A N/A $90, % -40.0% $150,000 DOUGLAS (LGA) 12 N/A N/A $148, % 4.2% $142,500 MAREEBA (LGA) 11 N/A N/A $95, % -3.1% $98,000 MAREEBA 10 N/A N/A $95, % -3.1% $98,000 RENTAL MARKET - 3 BED HOUSES POST MAR-16 MAR-15 CODE LOCALITY L $/WEEK NEW BONDS $/WEEK NEW BONDS CAIRNS REGIONAL $ $ GORDONVALE $ $ MT SHERIDAN/ BAYVIEW HT/ TARRAWARRA/ WHITE ROCK/ WOREE $ $ CENTENARY HTS/ CENTENARY PK/ EDMONTON/ TAMARIND GARDENS $ $ CAIRNS & S OF CAIRNS $ $ CARAVONICA/ HOLLOWAYS BCH/ LAKE 4878 PLACID/ MACHANS BCH/ MCGREGOR/ $380 SMITHFIELD/ SMITHFIELD HTS/ 55 $ YORKEYS KNOB BUCHAN PT/ CLIFTON BCH/ ELLIS BCH/ 4879 KEWARRA BCH/ PALM COVE/ TRINITY $ $ BCH/ TRINITY PK DOUGLAS SHIRE $ $ MOSSMAN/ COOYA BEACH/ COW BAY/ MIALLO/ NEWELL/ WONGA $ $ PORT DOUGLAS/ CRAIGLIE/ MOWBRAY/ OAK BEACH $ $ CASSOWARY COAST REGIONAL $ $ CARDWELL $250 8 $ BINGIL BAY $ $ BILYANA $ $ COMOON LOOP $280 5 N/A N/A 4860 BAMBOO CREEK $ $ TABLELANDS REGIONAL $ $ DIMBULAH/ KAIRI/ MT GARNETT/ TINAROO/ WALKAMIN $ $ TOLGA $350 6 $ ATHERTON/ UPPER BARON $ $ YUNGABURRA/ LAKE EACHAM $280 6 $ MALANDA/ TARZALI/ JAGGAN $ $ HERBERTON/ WONDECLA $280 6 N/A RAVENSHOE/ EVELYN/ MILLSTREAM $ $275 6 MAREEBA SHIRE $ $ MAREEBA/ BIBOOHRA $ $ KURANDA/ KOAH/ SPEEWAH $ $ MARCH QUARTER

46 REGIONAL MARKET UPDATES RENTAL MARKET - 2 BED UNITS POST MAR-16 MAR-15 CODE LOCALITY L $/WEEK NEW BONDS $/WEEK NEW BONDS CAIRNS REGIONAL $ $ MT SHERIDAN/ BAYVIEW HTS/ TARRAWARRA/ WHITE ROCK/ WOREE $ $ CENTENARY HTS/ CENTENARY PK/ EDMONTON/ TAMARIND GARDENS $ $ CAIRNS & S OF CAIRNS $ $ CARAVONICA/ HOLLOWAYS BCH/ LAKE PLACID/ MACHANS BCH/ MCGREGOR/ SMITHFIELD/ SMITHFIELD HTS/ $ $ YORKEYS KNOB 4879 BUCHAN PT/ CLIFTON BCH/ ELLIS BCH/ KEWARRA BCH/ PALM COVE/ TRINITY $ $ BCH/ TRINITY PK DOUGLAS SHIRE $ $ MOSSMAN/ COOYA BEACH/ COW BAY/ MIALLO/ NEWELL/ WONGA $200 7 $ PORT DOUGLAS/ CRAIGLIE/ MOWBRAY/ OAK BEACH $ $ CASSOWARY COAST REGIONAL $ $ CARDWELL $195 8 N/A N/A 4852 BINGIL BAY $ $ BILYANA $ $ BAMBOO CREEK $ $ TABLELANDS REGIONAL $ $ ATHERTON/ UPPER BARON $ $ MAREEBA SHIRE $ $ MAREEBA/ BIBOOHRA $ $ RENTAL MARKET - 3 BED TOWNHOUSES CAIRNS REGIONAL $ $ CAIRNS & S OF CAIRNS $ $ BABINDA/ BARTLE FRERE DOUGLAS SHIRE $ N.A PORT DOUGLAS/ CRAIGLIE/ MOWBRAY/ OAK BEACH $ N/A 3 46 QUEENSLAND MARKET MONITOR

47 OTHER REGIONAL S MARKET - HOUSES S SOUTH-WEST MARANOA (LGA) 14 N/A N/A $245, % -13.7% $284,000 ROMA 11 N/A N/A $260, % -11.9% $295,000 CHARLEVILLE 1 N/A N/A $110, % -22.8% $142,500 NORTH-WEST MOUNT ISA (LGA) 22 $291, % $325, % -6.2% $346,500 COOKTOWN 2 N/A N/A $275, % -16.0% $327,500 S MARKET - VACANT LAND TABLELANDS (LGA) 8 N/A N/A $105, % -10.3% $117,000 ATHERTON 3 N/A N/A $100, % -16.0% $119,000 REGIONAL MARKET UPDATES RENTAL MARKET - 2 BED UNITS POST MAR-16 MAR-15 CODE LOCALITY L $/WEEK NEW BONDS $/WEEK NEW BONDS SOUTH WEST BALONNE SHIRE $160 6 N/A N/A 4487 ST GEORGE N/A 4 N/A N/A MARANOA REGIONAL $ $ ROMA $ $ CENTRAL WEST NORTH WEST CLONCURRY SHIRE $250 8 N/A CLONCURRY $250 8 $220 8 MOUNT ISA CITY $ $ ALEXANDRIA $ $ FAR NORTH COOK SHIRE $270 8 $ BLOOMFIELD N/A 3 $265 9 RENTAL MARKET - 3 BED HOUSES SOUTH WEST BALONNE SHIRE $ $ ST GEORGE $ $ MARANOA REGIONAL $ $ ROMA $ $ MURWEH $ $ CHARLEVILLE $ $ CENTRAL WEST LONGREACH $ $ BRIXTON $ $ BLACKALL-TAMBO $200 6 N/A N/A 4472 BLACKALL $200 6 N/A N/A NORTH WEST CLONCURRY SHIRE $300 8 $ CLONCURRY $300 8 $ MOUNT ISA CITY $ $ ALEXANDRIA $ $ FAR NORTH COOK SHIRE $ $ ALMADEN $ $ BLOOMFIELD $350 7 $330 9 MARCH QUARTER

48 ON THE MARKET INDICATORS ON THE MARKET INDICATORS HOUSES OVER YEAR LGA TOTAL LISTINGS % STOCK ON MARKET DAYS ON MARKET VENDOR DISCOUNT TOTAL LISTINGS % STOCK ON MARKET DAYS ON MARKET VENDOR DISCOUNT 12MTHS ENDING FEB 2016* * * * 2015 PTS PTS BRISBANE SD 44,647 49, % 7.9% % -5.7% -10% -0.8% 0 0.2% BRISBANE 19,782 21, % 7.0% % -5.6% -8% -0.5% 0 0.0% IPSWICH 4,397 5, % 8.7% % -6.6% -19% -1.7% 1 0.5% LOGAN 6,717 7, % 8.3% % -5.6% -9% -0.7% % MORETON BAY 9,728 11, % 8.6% % -5.4% -13% -1.1% % REDLAND 4,023 4, % 9.1% % -5.8% -11% -1.0% 4 0.2% GOLD COAST 10,043 11, % 9.0% % -6.0% -11% -1.0% % SUNSHINE COAST SD 8,702 11, % 10.8% % -5.9% -21% -2.3% 1 0.1% SUNSHINE COAST 6,923 8, % 10.3% % -5.7% -18% -1.9% 0 0.1% NOOSA 1,779 2, % 13.2% % -6.7% -31% -4.1% 3 0.1% FRASER COAST 3,609 4, % 13.1% % -7.9% -26% -3.4% 7 0.1% CAIRNS 3,582 3, % 8.3% % -5.8% -4% -0.3% 6-0.6% BUNDABERG 2,913 3, % 11.4% % -8.0% -23% -2.7% 5 0.1% GLADSTONE 1,516 2, % 10.0% % -10.0% -31% -3.1% % MACKAY 2,586 3, % 9.2% % -10.6% -26% -2.4% 2-1.6% ROCKHAMPTON 2,247 2, % 10.3% % -9.0% -21% -2.2% 7-0.8% TOOWOOMBA 4,217 4, % 9.5% % -4.7% -10% -1.0% 8-1.2% TOWNSVILLE 4,109 5, % 8.8% % -8.1% -22% -1.9% 4-1.2% * Figures are preliminary Source: REIQ. Data supplied by CoreLogic RP Data Market Trends Average Days On Market - HOUSES *12mths to the end of February Source: REIQ, data supplied by CoreLogic RP Data * % BRISBANE SD Brisbane Ipswich Logan Moreton Bay Redland Gold Coast Sunshine Coast SD Sunshine Coast Noosa Fraser Coast Cairns Bundaberg Gladstone Mackay Rockhampton Toowoomba Townsville -2.0% -4.0% -6.0% -8.0% -10.0% -12.0% -14.0% * Average Vendor Discounting - HOUSES 48 QUEENSLAND MARKET MONITOR

49 ON THE MARKET INDICATORS UNITS & TOWNHOUSES OVER YEAR LGA TOTAL LISTINGS % STOCK ON MARKET DAYS ON MARKET VENDOR DISCOUNT TOTAL LISTINGS % STOCK ON MARKET DAYS ON MARKET VENDOR DISCOUNT 12MTHS ENDING FEB 2016* * * * 2015 PTS PTS BRISBANE SD 14,624 15, % 8.1% % -5.1% -5% -0.4% 3 0.1% BRISBANE 9,971 9, % 6.9% % -4.7% 1% 0.1% 5-0.0% IPSWICH % 10.9% % -7.4% -10% -1.1% % LOGAN 1,455 1, % 12.3% % -6.2% -17% -2.1% % MORETON BAY 2,015 2, % 10.9% % -5.8% -17% -1.8% 2-0.1% REDLAND % 11.0% % -5.4% -14% -1.6% % GOLD COAST 11,247 13, % 10.8% % -6.5% -14% -1.6% % SUNSHINE COAST SD 4,671 5, % 12.0% % -6.4% -21% -2.5% 1 0.3% SUNSHINE COAST 3,649 4, % 11.7% % -6.3% -19% -2.3% 1 0.2% NOOSA 1,022 1, % 12.9% % -6.9% -25% -3.2% 5 0.4% FRASER COAST % 17.4% % -5.7% -27% -4.7% % CAIRNS 2,105 2, % 10.1% % -7.1% -4% -0.4% 4-0.1% BUNDABERG % 14.8% % -8.4% -23% -3.4% % GLADSTONE % 9.0% % -13.3% -28% -2.6% 1 2.4% MACKAY % 10.4% % -14.0% -28% -2.9% % ROCKHAMPTON % 10.7% % -7.9% -26% -2.8% % TOOWOOMBA % 8.2% % -4.4% 1% 0.1% % TOWNSVILLE 1,201 1, % 13.1% % -9.2% -26% -3.4% % * Figures are preliminary Source: REIQ. Data supplied by CoreLogic RP Data Market Trends * Average Days On Market - UNITS *12mths to the end of February Source: REIQ, data supplied by CoreLogic RP Data BRISBANE SD Brisbane Ipswich Logan Moreton Bay Redland Gold Coast Sunshine Coast SD Sunshine Coast Noosa Fraser Coast Cairns Bundaberg Gladstone Mackay Rockhampton Toowoomba Townsville 0.0% -2.0% -4.0% -6.0% -8.0% -10.0% -12.0% -14.0% -16.0% * Average Vendor Discounting - UNITS MARCH QUARTER

50 RENTAL MARKET INDICATORS RENTAL MARKET INDICATORS GROSS YIELDS HOUSES UNITS QUARTER: MAR-16 DEC-15 MAR-16 DEC-15 GREATER BRISBANE BRISBANE 3.6% 3.5% 4.9% 4.8% IPSWICH 5.0% 4.8% 5.7% 4.6% LOGAN 4.8% 4.9% 5.7% 5.7% MORETON BAY 4.4% 4.3% 4.8% 4.5% REDLAND 4.1% 4.1% 4.9% 5.0% TOURISM CENTRES GOLD COAST 4.3% 4.2% 5.5% 5.3% SUNSHINE COAST 4.4% 4.4% 4.8% 4.9% NOOSA 4.3% 4.3% 4.5% 4.5% FRASER COAST 5.1% 5.2% 5.1% 5.7% CAIRNS 4.8% 4.7% 6.7% 6.7% REGIONAL/RESOURCE AREAS BUNDABERG 5.3% 5.4% 4.9% 4.6% GLADSTONE 3.8% 3.8% 3.3% N/A MACKAY 4.5% 4.3% 4.7% 3.7% ROCKHAMPTON 5.7% 5.4% 4.3% N/A TOOWOOMBA 4.4% 4.4% 4.1% 4.2% TOWNSVILLE 4.9% 4.6% 5.2% 4.7% OTHER REGIONAL AREAS BURDEKIN 7.5% N/A N/A N/A CASSOWARY COAST 7.1% 5.9% 10.6% N/A CENTRAL HIGHLANDS 7.2% N/A 4.6% N/A CHARTERS TOWERS N/A N/A N/A N/A DOUGLAS 4.2% N/A 6.6% 7.3% GOONDIWINDI N/A N/A N/A N/A GYMPIE 5.3% 5.4% 3.8% N/A HINCHINBROOK N/A N/A 4.9% N/A ISAAC 13.5% N/A 8.9% N/A LIVINGSTONE 4.0% 4.2% 5.7% 4.0% LOCKYER VALLEY 6.0% 6.3% 5.2% N/A MAREEBA N/A N/A 4.6% N/A MOUNT ISA 6.8% N/A N/A N/A NORTH BURNETT N/A N/A 6.8% N/A SCENIC RIM 5.2% 5.3% 5.9% N/A SOMERSET 6.5% N/A 4.2% N/A SOUTH BURNETT 6.0% 7.0% 7.0% N/A SOUTHERN DOWNS 5.8% 5.6% 5.1% N/A TABLELANDS 5.0% 5.2% 6.8% N/A WESTERN DOWNS 5.0% 5.9% 15.6% N/A WHITSUNDAY 5.3% 4.1% 4.7% 3.9% Yields comparison based on preliminary data for Mar-2016 N/A: Any region with less than 20 transactions is not included in yield calculations RESIDENTIAL VACANCY RATES AS AT END OF: MAR-16 DEC-15 TREND STATUS BRISBANE SD 2.6% 2.8% -0.2 STEADY HEALTHY BRISBANE 3.0% 3.1% -0.2 STEADY HEALTHY BRISBANE INNER (0-5KM) 3.3% 3.8% -0.5 DOWN HEALTHY BRISBANE BAL (5-20KM) 2.5% 2.1% 0.4 UP HEALTHY BRISBANE SURROUNDS 2.0% 2.3% -0.3 DOWN TIGHT IPSWICH 1.8% 2.5% -0.7 DOWN TIGHT LOGAN 2.1% 2.9% -0.8 DOWN TIGHT MORETON BAY 2.2% 1.9% 0.3 STEADY TIGHT CABOOLTURE 1.6% 1.4% 0.2 STEADY TIGHT PINE RIVERS 3.3% 2.9% 0.3 UP HEALTHY REDCLIFFE 2.4% 1.5% 0.9 UP TIGHT REDLAND 1.7% 1.6% 0.1 STEADY TIGHT MAINLAND 1.7% 1.6% 0.1 STEADY TIGHT BAY ISLANDS 2.1% 2.2% -0.1 STEADY TIGHT GOLD COAST 1.5% 1.1% 0.4 UP TIGHT SUNSHINE COAST SD 1.5% 1.3% 0.2 STEADY TIGHT SUNSHINE COAST 1.5% 1.4% 0.1 STEADY TIGHT CALOUNDRA COAST 1.2% 1.7% -0.5 DOWN TIGHT MAROOCHY COAST 1.8% 1.3% 0.5 UP TIGHT HINTERLAND* 0.9% 1.6% -0.8 DOWN TIGHT NOOSA 1.4% 0.7% 0.7 UP TIGHT FRASER COAST 3.2% 3.5% -0.3 DOWN HEALTHY HERVEY BAY 3.1% 3.0% 0.1 STEADY HEALTHY MARYBOROUGH 3.2% 4.0% -0.8 DOWN HEALTHY CAIRNS 2.1% 2.5% -0.4 DOWN TIGHT BUNDABERG 5.2% 3.9% 1.3 UP WEAK GLADSTONE 11.3% 10.0% 1.3 UP WEAK MACKAY 8.1% 9.3% -1.2 DOWN WEAK ROCKHAMPTON 6.9% 6.1% 0.8 UP WEAK TOOWOOMBA 3.0% 3.2% -0.2 STEADY HEALTHY TOWNSVILLE 6.0% 6.4% -0.4 DOWN WEAK SOUTH BURNETT 3.6% 5.9% -2.4 DOWN WEAK SOUTHERN DOWNS 3.1% 5.5% -2.4 DOWN HEALTHY WHITSUNDAY 10.0% 9.5% 0.5 UP WEAK Vacancy Trend: Steady = +/- 0 to 0.2%pts Up = +0.3% pts or more Down = -0.3% pts or more * change greater than 0.5 pts Market Status: TIght <2.5% Healthy % Weak >3.5% Source: REIQ Residential Rental Survey Queensland Market Monitor is published by The Real Estate Institute of Queensland (REIQ). ABN Sales data obtained from Core Logic RP Data ( and median weekly rental data from the Residential Tenancies Authority ( Enquiries about the reproduction of part or all of the information should be directed to the Corporate Affairs Division, REIQ. The State of Queensland (Department of Environment and Resource Management) Based on data provided with the permission of the Department of Natural Resources and Mines: [QVAS 2015]. The Department of Environment and Resource Management makes no representations or warranties about accuracy, reliability, completeness or suitability of the data for any particular purpose and disclaims all responsibility and all liability (including without limitation, liability in negligence) for all expenses, losses and damages (including indirect or consequential damage) and costs which might be incurred as a result of the data being inaccurate or incomplete in any way and for any reason. Disclaimer: The information contained in this publication, while based on information believed reliable, is not guaranteed. Nor is any of it tendered by way of investment advice; instead, it is intended only to inform and illustrate. No reader should act on the basis of any matter contained in this publication without considering and if necessary taking appropriate professional advice with regards to their own particular circumstances. The publisher and editor give no representations and make no warranties, express or implied, with respect to the accuracy or completeness of any of the material (including statistics, advertisements and advertising features) contained in this publication. The publisher and editor expressly disclaim any and all liability to the reader, whether a purchaser of this publication or not, in respect of anything and the consequences of anything done or omitted to be done by any such person in reliance, whether whole or partial, upon the whole or any part of the contents of this publication. The publisher, editor or contributors will enter into no correspondence in relation to this publication. The mention of the company, organisation, person, investment strategy or technique does not imply endorsement by the publisher. The publisher has not vetted advertisers and their products/services. The inclusion of advertisements or special advertising features in this publication does not imply endorsement of the advertiser/s or their products/services by the publisher. Articles are published in reliance upon the representations and warranties of the authors of the articles and without knowledge of any infringement of any third party s copyright. Copyright: This publication is protected under the Commonwealth Copyrights Act 1968 and may not, in whole or part, be lent, copied, photocopied, reproduced, translated or reduced to any electronic medium or machine-readable format without the express permission of the publisher. For permissions or reprints, contact the Corporate Affairs Division on phone QUEENSLAND MARKET MONITOR

51 I WOULD LIKE TO SUBSCRIBE TO QUEENSLAND MARKET MONITOR is a quarterly, electronic publication entirely focused on residential sales and rental research data for regions throughout the State, on a suburb-bysuburb basis. It meets the high standards for accurate data and reliable analysis that you have come to expect from the REIQ. This detailed level of information will enable you to conduct valuable comparisons between various regions and market segments, and to ensure you are completely informed of all the latest market trends and fluctuations. Each edition includes: Median sale prices for houses, units/townhouses and land; Median weekly rents for houses and units/townhouses; On the market indicators; Rental market indicators; Useful charts and graphs; and Analytical market commentary. your state-wide property research guide suburb by suburb I would like single issue(s) for $22.95* each I would like a two-year subscription (8 issues) for $150* I would like a one-year subscription (4 issues) for $80* Please start with or please include the following back issues Title Full Legal name Company name Occupation Street address Postal address Website Mobile Phone Post code Post code Return completed form to the REIQ This is a renewal subscription Cheque [please make cheques payable to the REIQ] This purchase is on behalf of a company FAX PHONE Visa Credit card number MasterCard Expiry Amount research@reiq.com.au POST PO Box 1555 Coorparoo DC QLD 4151 Cardholder s name How did you hear about us? Cardholder s signature PRIVACY NOTICE: THE REIQ MAY USE YOUR PERSONAL INFORMATION IN ACCORDANCE WITH ITS PRIVACY POLICY WHICH CAN BE VIEWED AT ALTERNATIVELY, YOU MAY REQUEST A COPY BY: MAIL: PO BOX 1555, COORPAROO DC QLD PRIVACY@REIQ.COM.AU PHONE: (07) I ACKNOWLEDGE THAT I HAVE READ AND UNDERSTOOD THE REIQ S PRIVACY POLICY *all prices include GST OFFICAL USE ONLY ID INV AUTH DATE

52 SAVE THE DATE! 6-7 October REIQ SUMMIT 16 set your altitude ROYAL INTERNATIONAL CONVENTION CENTRE (RNA SHOWGROUNDS) RESERVE YOUR SEAT NOW. TO BE ADDED TO THE PRE-BOOKING LIST.