MARCH QUARTER UP AND DOWN - PDF Free Download

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

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 (www.corelogic.com.au) 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 (www.rta.qld.gov.au) 2 QUEENSLAND MARKET MONITOR

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. 07 3249 7300 E. fmoore@reiq.com.au Research Analyst: Karina Salas T. 07 3249 7301 E. ksalas@reiq.com.au Graphic Designer: Holly Tape T. 07 3249 7312 E. htape@reiq.com.au Source: REIQ, data obtained from CoreLogic RPData The Real Estate Institute of Queensland Ltd. Copyright 2014 21 Turbo Drive, Coorparoo, PO Box 1555, Coorparoo DC Q 4151 Ph: (07) 3249 7347 Fax: (07) 3249 6211 Email: research@reiq.com.au 3 QUEENSLAND MARKET MONITOR MARCH QUARTER 2016 3

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

STATE-WIDE SUMMARY MARCH QUARTER 2016 5

STATE-WIDE SUMMARY HOUSES (<2400) UNITS & TOWNHOUSES VACANT LAND (<2400) LGA PRICE PRICE PRICE GREATER BRISBANE BRISBANE SD $480,000-4.0% $395,000-1.3% $225,000 2.7% BRISBANE $620,000-2.4% $431,075-0.9% $362,500 0.0% IPSWICH $321,500-0.2% $237,000-21.0% $191,000 5.0% LOGAN $370,000 0.5% $245,000-3.5% $207,444 7.8% MORETON BAY $415,000-1.2% $310,000-7.2% $235,800 1.3% REDLAND $499,000 1.9% $370,000-0.7% N/D N/D TOURISM CENTRES GOLD COAST $557,500 0.5% $375,000-0.3% $239,900 0.0% SUNSHINE COAST SD $515,000 1.0% $385,000 0.7% $242,000-9.2% SUNSHINE COAST $510,000 1.0% $370,000-0.5% $230,000-11.5% NOOSA $547,500-2.6% $450,000-2.2% N/A N/A FRASER COAST $295,000 0.0% $254,750 6.2% $145,000-3.0% CAIRNS $386,000-4.1% $223,500-4.9% $200,800-4.8% REGIONAL CENTRES BUNDABERG $276,000 0.4% $246,000-8.9% $148,000-1.3% GLADSTONE $345,000-1.4% $302,500 30.1% N/A N/A MACKAY $332,500-1.9% $220,000-12.0% $175,000 3.7% ROCKHAMPTON $270,000-3.6% $264,500-0.2% N/A N/A TOOWOOMBA $352,250-1.6% $315,000 2.4% $169,000-1.0% TOWNSVILLE $330,000-8.3% $260,000-15.0% $167,750 6.9% 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 44,647 7.0% 67-5.5% 14,624 7.7% 76-5.0% BRISBANE 19,782 6.5% 57-5.5% 9,971 7.0% 69-4.7% IPSWICH 4,397 7.1% 82-6.1% 501 9.8% 107-6.9% LOGAN 6,717 7.6% 70-5.2% 1,455 10.2% 87-5.5% MORETON BAY 9,728 7.5% 71-5.1% 2,015 9.0% 102-5.8% REDLAND 4,023 8.0% 75-5.6% 682 9.5% 88-5.2% TOURISM CENTRES GOLD COAST 10,043 8.0% 68-5.4% 11,247 9.2% 88-5.7% SUNSHINE COAST SD 8,702 8.5% 89-5.8% 4,671 9.5% 107-6.2% SUNSHINE COAST 6,923 8.4% 85-5.6% 3,649 9.5% 104-6.1% NOOSA 1,779 9.2% 107-6.6% 1,022 9.7% 117-6.5% FRASER COAST 3,609 9.7% 115-7.8% 591 12.7% 127-7.6% CAIRNS 3,582 7.9% 72-6.4% 2,105 9.7% 89-7.2% REGIONAL QLD BUNDABERG 2,913 8.7% 103-7.9% 421 11.5% 123-8.0% GLADSTONE 1,516 6.9% 99-10.2% 246 6.4% 131-10.9% MACKAY 2,586 6.8% 107-12.2% 474 7.5% 118-15.1% ROCKHAMPTON 2,247 8.1% 104-9.8% 182 7.9% 111-7.2% TOOWOOMBA 4,217 8.5% 72-5.9% 623 8.3% 90-4.7% TOWNSVILLE 4,109 6.9% 96-9.2% 1,201 9.7% 112-9.3% "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

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 48-49 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. Email Jordan Tindal to subscribe: jtindal@reiq.com.au. MARCH QUARTER 2016 7

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

BRISBANE MARKET UPDATES S MARKET - HOUSES S MARKET - HOUSES (CONT D) S S BRISBANE (LGA) 2838 $620,000-2.4% $625,000 6.1% 17.9% $530,000 BRISBANE (LGA) ^ 70 $937,500 1.9% $971,500-0.9% -0.1% $972,500 ACACIA RIDGE 28 $393,750 3.6% $370,000 6.1% 12.8% $328,000 ALBION 7 N/A N/A $725,250 4.2% 20.9% $600,000 ALDERLEY 13 N/A N/A $731,300 4.5% 17.0% $625,000 ALGESTER 25 $483,000-1.3% $490,500 6.4% 18.2% $415,000 ANNERLEY 18 N/A N/A $665,000 0.0% 11.8% $595,000 ASCOT 20 $1,100,000-21.4% $1,250,000-4.6% 14.7% $1,090,000 ASHGROVE 28 $940,000 14.3% $855,000 4.3% 23.9% $690,000 ASPLEY 36 $570,000-5.0% $565,000 6.6% 21.5% $465,000 AUCHENFLOWER 12 N/A N/A $883,000 0.6% 9.9% $803,500 BALD HILLS 27 $410,000 1.0% $405,000 5.2% 5.6% $383,500 BALMORAL 8 N/A N/A $945,000 3.3% 21.2% $780,000 BANYO 12 N/A N/A $505,000 17.2% 18.8% $425,000 BARDON 29 $790,000-8.9% $820,000-2.3% 8.6% $755,000 BELLBOWRIE 17 N/A N/A $500,000 7.5% 5.3% $475,000 BELMONT 5 N/A N/A $630,000 7.7% 2.4% $615,000 BOONDALL 25 $450,000-2.2% $457,500 6.4% 8.9% $420,000 BRACKEN RIDGE 50 $480,000 7.6% $455,500 6.4% 9.8% $415,000 BRIDGEMAN DOWNS 26 $770,000 14.5% $750,000 7.1% 7.9% $695,000 BRIGHTON 35 $465,000-1.4% $466,000 5.9% 16.5% $400,000 BROOKFIELD ^ 3 N/A N/A $1,200,000-5.4% 10.6% $1,085,000 BULIMBA 20 $1,225,000 3.8% $1,217,500 13.3% 31.6% $925,000 CALAMVALE 33 $639,900 2.0% $627,500 10.1% 24.3% $504,650 CAMP HILL 50 $800,000 5.7% $771,000 5.5% 20.0% $642,250 CANNON HILL 25 $760,000 8.6% $730,000 12.3% 30.9% $557,500 CARINA 25 $606,000-3.8% $620,000 10.5% 22.8% $505,000 CARINA HEIGHTS 7 N/A N/A $600,000 1.3% 23.7% $485,000 CARINDALE 40 $815,000-6.9% $810,000 14.1% 16.5% $695,000 CARSELDINE 19 N/A N/A $583,750 2.9% 14.5% $510,000 CHAPEL HILL 28 $767,500 4.9% $739,944 8.5% 13.8% $650,000 CHELMER 18 N/A N/A $985,000 0.4% 9.4% $900,000 CHERMSIDE 9 N/A N/A $538,000-7.4% 20.1% $448,000 CHERMSIDE WEST 17 N/A N/A $530,000 1.9% 13.4% $467,500 CLAYFIELD 26 $855,000-23.0% $980,000 5.4% 5.1% $932,500 COOPERS PLAINS 15 N/A N/A $525,000 7.1% 19.0% $441,250 COORPAROO 39 $822,500-6.0% $815,000 10.9% 22.6% $665,000 CORINDA 21 $643,000 1.3% $648,000-3.0% 10.1% $588,500 DARRA 13 N/A N/A $430,000 26.0% 25.9% $341,500 DEAGON 15 N/A N/A $438,000 6.6% 6.8% $410,000 DOOLANDELLA 13 N/A N/A $440,000 3.2% 0.0% $440,000 DREWVALE 18 N/A N/A $543,500 6.1% 11.6% $487,000 DURACK 11 N/A N/A $388,250 2.2% 6.4% $365,000 EAST BRISBANE 17 N/A N/A $780,000 2.6% 18.2% $660,000 EIGHT MILE PLAINS 28 $740,000-5.1% $740,000 10.1% 23.3% $600,000 ENOGGERA 8 N/A N/A $625,000 1.8% 10.7% $564,500 EVERTON PARK 23 $575,250 0.1% $555,000 7.8% 11.0% $500,000 FAIRFIELD 7 N/A N/A $617,500-11.8% 6.5% $580,000 FERNY GROVE 16 N/A N/A $538,000 3.2% 9.2% $492,500 FIG TREE POCKET 10 N/A N/A $890,000 4.9% 6.0% $839,500 FITZGIBBON 14 N/A N/A $430,000 1.2% 3.6% $415,000 FOREST LAKE 93 $423,500-3.8% $420,000 5.1% 6.3% $395,000 GAYTHORNE 6 N/A N/A $605,000-6.2% 34.4% $450,000 GEEBUNG 18 N/A N/A $495,000 7.6% 13.8% $435,000 GORDON PARK 13 N/A N/A $745,000 5.7% 26.8% $587,500 GRACEVILLE 15 N/A N/A $797,500 13.4% 15.6% $690,000 GRANGE 13 N/A N/A $905,000 16.0% 40.1% $646,000 GREENSLOPES 24 $765,500-11.5% $732,500 8.9% 25.2% $585,000 HAMILTON 7 N/A N/A $1,115,000-0.7% 5.7% $1,055,000 HAWTHORNE 14 N/A N/A $1,055,000-4.1% 42.0% $742,750 HEATHWOOD 7 N/A N/A $552,500 2.4% 1.2% $546,000 HEMMANT 10 N/A N/A $432,750 2.9% 1.8% $425,000 HENDRA 19 N/A N/A $950,000 13.1% 18.8% $800,000 HIGHGATE HILL 7 N/A N/A $1,022,500-6.4% 29.4% $790,000 HOLLAND PARK 24 $635,000-4.9% $650,000 3.6% 22.9% $529,000 HOLLAND PARK WEST 18 N/A N/A $670,000 11.7% 15.5% $580,000 INALA 39 $350,600 1.6% $340,000 9.7% 15.3% $295,000 INDOOROOPILLY 18 N/A N/A $847,000 7.6% 22.3% $692,500 JAMBOREE HEIGHTS 16 N/A N/A $442,000-1.1% 7.9% $409,500 JINDALEE 15 N/A N/A $527,500 5.5% 3.7% $508,500 KALINGA 7 N/A N/A $927,500 21.6% 9.8% $845,000 KANGAROO POINT 6 N/A N/A $950,000 25.8% 22.6% $775,000 KARANA DOWNS 6 N/A N/A $415,500 6.3% 3.2% $402,500 KARANA DOWNS ^ 8 N/A N/A $526,250 7.1% 9.9% $479,000 KEDRON 21 $630,000 0.0% $612,500-1.5% 12.2% $546,000 KELVIN GROVE 16 N/A N/A $723,500 1.2% 11.3% $650,000 KENMORE 28 $640,000 0.8% $620,000 7.8% 12.8% $549,500 KENMORE HILLS 5 N/A N/A $757,500 4.5% 12.4% $674,000 KEPERRA 29 $490,000 2.1% $475,500 2.9% 8.2% $439,500 KURABY 20 $599,000-9.6% $625,000 7.8% 18.5% $527,500 LOTA 16 N/A N/A $618,000 13.2% 36.6% $452,500 LUTWYCHE 4 N/A N/A $785,000 8.3% 32.5% $592,500 MACGREGOR 13 N/A N/A $750,000 17.2% 40.2% $535,000 MACKENZIE 6 N/A N/A $755,500 9.3% 16.2% $650,000 MANLY 24 $825,000 4.5% $767,500 8.9% 16.3% $660,000 MANLY WEST 54 $581,000 5.2% $570,000 8.6% 14.0% $500,000 MANSFIELD 26 $660,000 5.6% $610,000 10.5% 20.8% $504,800 MCDOWALL 15 N/A N/A $620,000 4.2% 6.9% $580,000 MIDDLE PARK 14 N/A N/A $580,000 6.4% 8.6% $534,000 MILTON 3 N/A N/A $820,000-1.5% 19.7% $685,000 MITCHELTON 36 $640,500 2.7% $621,000 10.9% 18.8% $522,888 MOGGILL 19 N/A N/A $532,500 7.6% 11.6% $477,000 MOOROOKA 33 $600,000 5.1% $581,000 3.9% 17.4% $495,000 MORNINGSIDE 15 N/A N/A $695,000 7.1% 16.8% $595,000 MOUNT GRAVATT 10 N/A N/A $625,000 8.7% 30.2% $480,000 MOUNT GRAVATT EAST 44 $564,000-9.8% $590,000 7.3% 24.9% $472,500 MOUNT OMMANEY 2 N/A N/A $822,500 6.0% -0.9% $830,000 MURARRIE 12 N/A N/A $625,000 7.3% 28.9% $485,000 NEW FARM 9 N/A N/A $1,500,000 14.9% 26.6% $1,185,000 NEWMARKET 6 N/A N/A $790,000 5.1% 10.5% $715,000 NORMAN PARK 21 $900,000 8.8% $797,000 3.8% 19.0% $670,000 NORTHGATE 13 N/A N/A $615,000-0.8% 30.9% $470,000 NUDGEE 8 N/A N/A $560,500-1.7% 14.2% $491,000 NUNDAH 20 $562,500-15.0% $685,000 3.0% 19.1% $575,000 OXLEY 25 $515,000-4.5% $512,500 3.5% 14.7% $447,000 PADDINGTON 28 $945,000 3.3% $947,500 8.6% 17.0% $810,000 PARKINSON 24 $632,000-0.8% $621,800 7.9% 18.4% $525,000 PULLENVALE ^ 11 N/A N/A $985,000 5.4% -12.9% $1,131,250 RED HILL 19 N/A N/A $805,000 4.2% 22.9% $655,000 RICHLANDS 3 N/A N/A $432,000 7.6% 6.5% $405,500 RIVERHILLS 12 N/A N/A $455,000 2.8% 3.6% $439,000 ROBERTSON 6 N/A N/A $918,000 19.6% 35.0% $680,000 ROCHEDALE 8 N/A N/A $900,600 2.1% 63.7% $550,000 ROCKLEA 7 N/A N/A $390,000 5.4% 17.7% $331,250 RUNCORN 26 $500,000-7.1% $525,000 4.4% 22.1% $430,000 SALISBURY 22 $556,000-0.3% $540,000 7.7% 20.0% $450,000 SANDGATE 14 N/A N/A $608,000 16.9% 15.3% $527,500 SEVEN HILLS 8 N/A N/A $742,750 9.2% 24.3% $597,750 SEVENTEEN MILE ROCKS 4 N/A N/A $642,500 11.3% 19.0% $540,000 SHERWOOD 13 N/A N/A $868,000 8.5% 14.2% $760,000 SHORNCLIFFE 5 N/A N/A $677,500-6.6% 4.2% $650,000 SINNAMON PARK 11 N/A N/A $609,000-3.7% -3.3% $630,000 SPRING HILL 4 N/A N/A $905,000 0.0% 13.1% $800,000 ST LUCIA 11 N/A N/A $1,050,000-6.3% -3.7% $1,090,000 STAFFORD 19 N/A N/A $568,750 4.4% 20.4% $472,500 STAFFORD HEIGHTS 29 $583,500-1.1% $559,000 7.5% 20.2% $465,000 STRETTON 12 N/A N/A $828,000 11.1% 33.5% $620,000 SUNNYBANK 23 $741,500 0.2% $724,000 13.1% 34.3% $539,000 SUNNYBANK HILLS 32 $668,000 5.5% $658,000 11.9% 32.9% $495,000 TAIGUM 12 N/A N/A $476,000-2.9% 7.0% $445,000 TARINGA 15 N/A N/A $890,000 10.8% 30.9% $680,000 TARRAGINDI 33 $731,108 4.4% $708,250 9.0% 24.3% $570,000 TENERIFFE 2 N/A N/A $1,400,000-7.3% 7.1% $1,307,500 TENNYSON 4 N/A N/A $645,000-20.2% 11.7% $577,500 THE GAP 36 $615,000-1.4% $620,000 5.6% 12.7% $550,000 TINGALPA 28 $494,000 4.8% $483,500 4.0% 13.2% $427,000 TOOWONG 17 N/A N/A $771,000 2.5% 13.4% $680,000 UPPER KEDRON 13 N/A N/A $605,500 7.2% 12.1% $540,000 MARCH QUARTER 2016 9

BRISBANE MARKET UPDATES S MARKET - HOUSES (CONT D) S MARKET - UNITS & TOWNHOUSES (CONT D) S S UPPER MOUNT GRAVATT 29 $649,000 15.5% $600,000 7.8% 27.7% $470,000 VIRGINIA 13 N/A N/A $546,000 3.4% 26.7% $431,000 WAKERLEY 29 $715,000-5.3% $715,000 2.1% 16.3% $615,000 WAVELL HEIGHTS 44 $630,000-2.7% $630,000 2.4% 18.3% $532,500 WEST END 8 N/A N/A $1,075,000 13.5% 36.9% $785,000 WESTLAKE 10 N/A N/A $635,000 4.1% 1.8% $624,000 WILSTON 8 N/A N/A $974,500 13.7% 14.6% $850,000 WINDSOR 16 N/A N/A $770,000 7.8% 14.9% $670,000 WISHART 21 $684,500-0.1% $678,000 15.4% 29.1% $525,000 WOOLLOONGABBA 10 N/A N/A $780,000 15.5% 18.2% $660,000 WOOLOOWIN 11 N/A N/A $790,000 16.7% 22.4% $645,500 WYNNUM 53 $555,000-7.5% $600,000 0.0% 15.7% $518,750 WYNNUM WEST 37 $520,000 2.2% $495,000 4.4% 12.9% $438,500 YEERONGPILLY 6 N/A N/A $610,000-17.0% -13.5% $705,000 YERONGA 5 N/A N/A $742,500 3.9% 8.0% $687,500 ZILLMERE 29 $447,500-1.7% $448,250 9.3% 18.1% $379,500 S MARKET - UNITS & TOWNHOUSES BRISBANE (LGA) 1724 $431,075-0.9% $440,000 1.2% 6.7% $412,250 ACACIA RIDGE 5 N/A N/A $348,000 0.0% -18.9% $429,000 ALBION 7 N/A N/A $442,500 6.8% 1.0% $438,000 ALDERLEY 16 N/A N/A $442,500 0.5% 10.6% $400,000 ALGESTER 9 N/A N/A $315,000 1.0% -9.2% $347,000 ANNERLEY 23 $415,000 3.1% $412,500-1.8% 5.5% $391,000 ASCOT 13 N/A N/A $442,000 1.6% 7.8% $410,000 ASHGROVE 12 N/A N/A $457,500-10.3% 15.1% $397,500 ASPLEY 5 N/A N/A $387,500 3.3% 5.5% $367,250 AUCHENFLOWER 21 $432,500-3.4% $468,750 2.4% 7.8% $435,000 BALMORAL 6 N/A N/A $520,500 3.0% 11.4% $467,115 BANYO 2 N/A N/A $392,750-21.5% -26.1% $531,500 BARDON 5 N/A N/A $559,000-4.0% -6.7% $599,000 BOWEN HILLS 8 N/A N/A $429,250 1.0% 1.9% $421,250 BRACKEN RIDGE 4 N/A N/A $350,000 8.9% -2.0% $357,000 BRIDGEMAN DOWNS 7 N/A N/A $449,999 29.9% 21.8% $369,500 BRISBANE CITY 121 $490,000 3.2% $490,000-1.4% 4.0% $471,000 BULIMBA 18 N/A N/A $599,500-1.6% 10.9% $540,500 CALAMVALE 26 $395,450-3.4% $395,000 3.1% 7.6% $367,000 CAMP HILL 8 N/A N/A $443,625-2.5% -2.5% $455,000 CANNON HILL 6 N/A N/A $440,450-2.7% 0.7% $437,500 CARINA 21 $443,500-0.6% $465,000 2.2% 5.7% $440,000 CARINA HEIGHTS 27 $452,500-3.6% $473,568 0.8% 15.5% $410,000 CARINDALE 3 N/A N/A $497,500-2.5% 5.1% $473,500 CARSELDINE 10 N/A N/A $383,500 0.1% -0.4% $385,000 CHERMSIDE 35 $400,000-9.1% $430,250 7.0% -0.9% $434,000 CLAYFIELD 43 $380,000 0.0% $376,300-4.0% 5.9% $355,500 COOPERS PLAINS 3 N/A N/A $390,000 4.7% -2.3% $399,000 COORPAROO 37 $381,000-9.7% $405,000 3.9% 7.7% $376,100 CORINDA 5 N/A N/A $415,000 17.6% -3.5% $430,000 DARRA 1 N/A N/A $349,000 6.6% -22.0% $447,500 DOOLANDELLA 2 N/A N/A $357,500 5.5% 5.5% $339,000 EAST BRISBANE 18 N/A N/A $417,000-3.6% -7.3% $450,000 EIGHT MILE PLAINS 19 N/A N/A $415,000-1.2% 7.0% $388,000 ELLEN GROVE 13 N/A N/A $353,000 2.0% 7.0% $330,000 ENOGGERA 7 N/A N/A $350,492-12.5% -8.4% $382,500 EVERTON PARK 17 N/A N/A $395,000-7.1% 0.0% $395,000 FAIRFIELD 12 N/A N/A $450,000 4.9% 10.0% $409,000 FITZGIBBON 1 N/A N/A $353,000 0.4% -4.0% $367,808 FORTITUDE VALLEY 30 $437,000 1.6% $449,320-4.5% 7.2% $419,000 GAYTHORNE 14 N/A N/A $441,500 0.3% 16.2% $380,000 GORDON PARK 3 N/A N/A $375,000-5.2% 4.7% $358,000 GREENSLOPES 22 $381,500 3.1% $385,000-0.7% 5.8% $363,750 HAMILTON 26 $535,000-13.0% $596,500 7.8% 27.2% $469,000 HAWTHORNE 13 N/A N/A $557,500 1.4% 31.2% $425,000 HENDRA 6 N/A N/A $575,000 4.6% 11.7% $515,000 HIGHGATE HILL 13 N/A N/A $534,000 4.7% 17.9% $453,000 HOLLAND PARK WEST 5 N/A N/A $425,000 4.9% 16.4% $365,000 INDOOROOPILLY 26 $521,500 10.3% $492,500-4.4% 10.7% $445,000 KANGAROO POINT 50 $496,250-8.1% $512,000 3.2% -1.5% $520,000 KEDRON 13 N/A N/A $455,000 7.1% 33.0% $342,000 KELVIN GROVE 25 $470,000 8.7% $476,000 3.5% 10.4% $431,000 LUTWYCHE 19 N/A N/A $475,000 1.5% 20.1% $395,500 MANLY 4 N/A N/A $461,000-4.0% 9.8% $420,000 MANLY WEST 4 N/A N/A $370,000-4.2% -3.9% $385,000 MCDOWALL 1 N/A N/A $470,000 17.5% 22.6% $383,500 MILTON 11 N/A N/A $551,000 6.0% -6.6% $590,000 MITCHELTON 7 N/A N/A $427,500 5.0% 9.8% $389,500 MOOROOKA 18 N/A N/A $426,500 6.0% 1.8% $419,000 MORNINGSIDE 30 $480,000-4.5% $496,250 4.3% 12.8% $440,000 MOUNT GRAVATT 3 N/A N/A $468,750 5.8% 48.8% $315,000 MOUNT GRAVATT EAST 22 $405,000-10.0% $450,000 1.1% 16.9% $385,000 MURARRIE 9 N/A N/A $540,000 14.1% -25.6% $725,750 NEW FARM 42 $626,250 9.9% $576,000-1.5% 8.7% $530,000 NEWMARKET 6 N/A N/A $430,000 0.0% -8.3% $468,750 NEWSTEAD 18 N/A N/A $627,000 11.0% -16.3% $749,550 NORMAN PARK 5 N/A N/A $486,000-7.4% 1.5% $479,000 NORTHGATE 7 N/A N/A $396,250-3.4% 14.5% $346,000 NUNDAH 38 $417,500-7.2% $420,000 6.3% 5.0% $400,000 OXLEY 5 N/A N/A $366,250 6.2% -3.0% $377,495 PADDINGTON 10 N/A N/A $551,250 13.7% 30.1% $423,750 RED HILL 6 N/A N/A $430,000-4.3% 3.6% $415,000 RICHLANDS 7 N/A N/A $346,900-0.9% -0.9% $350,000 ROCHEDALE 9 N/A N/A $495,000 16.2% 25.2% $395,500 ROCKLEA 5 N/A N/A $434,500 9.7% 11.7% $389,000 RUNCORN 22 $346,500-2.4% $353,750 6.9% 7.2% $329,944 SALISBURY 7 N/A N/A $445,000 23.6% 12.7% $395,000 SHERWOOD 7 N/A N/A $445,000-2.2% 11.3% $400,000 SOUTH BRISBANE 34 $471,000-4.2% $497,000 4.6% 5.1% $473,000 SPRING HILL 30 $416,750 7.7% $410,000-3.5% 5.1% $390,000 ST LUCIA 36 $426,000-6.9% $462,500-7.3% 4.8% $441,500 STAFFORD 6 N/A N/A $440,000-0.9% 14.3% $385,000 SUNNYBANK HILLS 12 N/A N/A $360,000 1.4% -4.0% $375,000 TAIGUM 21 $325,000-5.0% $330,000-14.3% -5.7% $350,000 TARINGA 36 $456,000 8.6% $432,000-4.0% 5.5% $409,500 TENERIFFE 33 $585,000-12.7% $590,000-0.4% 6.7% $552,823 THE GAP 7 N/A N/A $500,000 1.6% 8.7% $460,000 TINGALPA 10 N/A N/A $365,000-6.4% 1.2% $360,500 TOOWONG 49 $445,000-3.3% $452,500 0.6% 10.4% $410,000 UPPER MOUNT GRAVATT 16 N/A N/A $410,000-9.7% -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 1300 664 715 or visit agents.directconnect.com.au 10 QUEENSLAND MARKET MONITOR

BRISBANE MARKET UPDATES S MARKET - UNITS & TOWNHOUSES (CONT D) S WAKERLEY 5 N/A N/A $425,000 3.0% 0.0% $425,000 WEST END 28 $550,000-3.0% $565,000-1.7% 10.8% $510,000 WINDSOR 18 N/A N/A $463,500-2.2% 19.8% $387,000 WISHART 6 N/A N/A $385,000 1.1% 6.8% $360,500 WOOLLOONGABBA 15 N/A N/A $432,500 7.9% 1.8% $425,000 WYNNUM 15 N/A N/A $390,000-14.5% 6.1% $367,500 WYNNUM WEST 11 N/A N/A $341,500-1.0% -4.5% $357,500 YERONGA 25 $484,000-1.0% $489,000 5.2% 17.1% $417,500 YEERONGPILLY 2 N/A N/A $431,350 3.4% -4.1% $450,000 ZILLMERE 18 N/A N/A $363,000-2.6% -1.9% $370,000 S MARKET - VACANT LAND S BRISBANE (LGA) 148 $362,500 0.0% $376,000 11.6% 26.4% $297,500 BRISBANE (LGA) ^ 5 N/A N/A $893,500 14.2% 75.5% $509,000 BRIDGEMAN DOWNS 13 N/A N/A $390,000-1.3% -0.6% $392,500 CARINDALE 2 N/A N/A $493,000 1.7% -13.5% $570,000 FITZGIBBON 13 N/A N/A $177,500-17.4% -17.4% $214,950 HEATHWOOD 39 $296,000 6.1% $281,000 4.9% 15.1% $244,075 KENMORE 4 N/A N/A $476,000 16.1% 33.3% $357,000 KURABY 1 N/A N/A $345,000 2.3% -6.8% $370,000 ROCHEDALE 9 N/A N/A $443,000 0.7% 11.4% $397,500 UPPER KEDRON 5 N/A N/A $335,500 4.8% 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 $435 3221 $430 3126 BAYSIDE $420 140 $425 147 4178 LINDUM/LYTTON/WYNNUM $425 79 $420 95 4179 LOTA/MANLY $410 61 $430 52 CITY INNER $560 320 $550 309 4000 BRISBANE CITY/SPRING HILL $580 23 $600 22 4005 NEW FARM/TENERIFFE $595 16 $650 22 4006 BOWEN HILLS/ VALLEY/ HERSTON/ NEWSTEAD $540 20 $550 15 4064 MILTON/ PADDINGTON/ ROSALIE $575 83 $570 73 4066 AUCHENFLOWER/ MTCOOTHA/ TOOWONG $540 49 $515 58 4067 IRONSIDE/ ST LUCIA $560 15 $500 25 4101 HIGHGATE HILL/ SOUTH BRIS/ WEST END $625 41 $560 36 4102 BURANDA/ DUTTON PARK/ WOOLOONGABBA $490 31 $510 19 4169 EAST BRIS/ KANGAROO POINT $540 42 $500 39 NORTH - INNER $480 360 $460 334 4007 ASCOT/ HAMILTON $575 21 $550 26 4010 ALBION/ BREAKFAST CREEK $485 8 $480 13 4011 CLAYFIELD/ HENDRA $500 39 $500 40 4012 NUNDAH/ TOOMBUL/ WAVELL HEIGHTS $450 68 $440 55 4030 LUTWYCHE/ WINDSOR/ WOOLOOWIN $500 77 $480 57 4031 GORDON PARK/ KEDRON $450 53 $450 46 4051 ALDERLEY/ ENOGERRA/ GAYTHORNE/ GRANGE/ NEWMARKET/ WILSTON $460 93 $465 95 NORTH - OUTER $400 432 $395 397 4013 NORTHGATE $400 14 $380 16 4014 BANYO/ NUDGEE/ VIRGINIA $400 42 $395 40 4017 BRACKEN RIDGE/ BRIGHTON/ DEAGON/ SANDGATE $390 126 $395 96 4018 FITZGIBBON/ TAIGUM $400 33 $380 25 4032 CHERMSIDE/ CRAIGSLEA $420 67 $395 65 4034 ASPLEY/ BOONDAL/ GEEBUNG/ ZILLMERE $400 128 $400 133 4036 BALD HILLS $365 22 $380 22 NORTH WEST - INNER $525 155 $550 153 4059 BALLYMORE/ ITHACA/ KELVIN GROVE/ RED HILL $540 77 $550 79 4060 ASHGROVE/ DORRINGTON/ ST JOHNS WOOD $475 38 $490 32 4065 BARDON/ JUBILEE/ RAINWORTH $550 40 $530 42 RENTAL MARKET - 3 BED HOUSES (CONT D) POST MAR-16 MAR-15 CODE LOCALITY L $/WEEK NEW BONDS $/WEEK NEW BONDS NORTH WEST - OUTER $430 262 $430 262 4053 BROOKSIDE/ EVERTON PARK/ MCDOWALL/ STAFFORD $430 174 $420 152 4054 ARANA HILLS/ KEPERRA $420 54 $430 68 4061 THE GAP $430 34 $460 42 SOUTH - INNER $440 396 $430 380 4103 ANNERLEY/ FAIRFIELD $450 56 $465 58 4104 YERONGA $490 18 $470 11 4105 CLIFTON HILL/ MOOROOKA/ TENNYSON $430 48 $410 43 4120 GREENSLOPES/ STONES CORNER $500 25 $450 30 4121 EKIBIN/ HOLLAND PARK/ TARRAGINDI/ WELLERS HILL $450 91 $430 81 4122 MANSFIELD/ MT GRAVATT/ WISHART $415 157 $400 153 SOUTH - OUTER $390 327 $390 298 4106 BRISBANE MARKET/ ROCKLEA $400 9 $360 10 4107 SALISBURY $390 26 $380 24 4108 ARCHERFIELD/ COOPERS PLAINS $380 33 $400 23 4109 ALTANDI/ MACGREGOR/ ROBERTSON/ SUNNYBANK $410 97 $395 102 4110 ACACIA RIDGE/ LARAPINTA/ WILLAWONG $350 50 $340 39 4112 KURABY $355 11 $370 7 4113 EIGHT MILES PLAINS/ RUNCORN $390 71 $395 47 4115 ALGESTER/ PARKINSON $400 17 $390 30 4116 CALAMVALE/ DREWVALE/ STRETTON $420 13 $400 16 SOUTH EAST - INNER $470 317 $470 321 4151 COORPAROO $460 32 $455 58 4152 CAMP HILL/ CARINA/ CARINDALE $450 130 $450 113 4170 CANNON HILL/ MORNINGSIDE/ NORMAN PARK $470 100 $485 96 4171 BALMORAL/ BULIMBA/ HAWTHORNE $530 45 $540 34 4172 MURARRIE $410 10 $425 20 SOUTH EAST - OUTER $410 37 $420 39 4153 BELMONT N.A. 4 N/A 3 4154 GUMDALE/ RANSOME/ WAKERLEY $400 8 $480 7 4173 TINGALPA $410 19 $420 19 4174 DOBOY/ HEMANT $395 6 $420 7 SOUTH WEST - INNER $450 150 $460 139 4068 CHELMER/ INDOOROOPILLY/ TARINGA $480 74 $485 66 4075 CORINDA/ GRACEVILLE/ OXLEY/ SHERWOOD $430 76 $430 73 SOUTH WEST - OUTER $365 325 $365 347 4069 BROOKFIELD/ CHAPEL HILL/ KENMORE $460 52 $465 49 4070 ANSTEAD/ BELLBOWRIE/ MOGGILL $480 5 $400 8 4073 SEVENTEEN MILE ROCKS/ SINNAMON PARK $420 12 $425 22 4074 JINDALEE/ MTOMMANEY/ SUMNER/ WESTLAKE $400 69 $400 59 4076 DARRA/ WACOL $340 28 $340 34 4077 DOOLANDELLA/ DURACK/ INALA/ RICHLANDS $330 64 $320 68 4078 FOREST LAKE/ CAROLE PARK $355 95 $360 107 MARCH QUARTER 2016 11

BRISBANE MARKET UPDATES RENTAL MARKET - 2 BED UNITS POST MAR-16 MAR-15 CODE LOCALITY L $/WEEK NEW BONDS $/WEEK NEW BONDS BRISBANE CITY $410 5849 $410 5725 BAYSIDE $350 48 $350 37 4178 LINDUM/ LYTTON/ WYNNUM $350 34 $360 27 4179 LOTA/ MANLY $330 14 $345 10 CITY INNER $485 2361 $490 2368 4000 BRISBANE CITY/ SPRING HILL $550 344 $600 339 4005 NEW FARM/ TENERIFFE $520 249 $500 287 4006 BOWEN HILLS/ VALLEY/ HERSTON/ NEWSTEAD $480 352 $495 387 4064 MILTON/ PADDINGTON/ ROSALIE $410 89 $400 75 4066 AUCHENFLOWER/ MTCOOTHA/ TOOWONG $400 336 $410 314 4067 IRONSIDE/ ST LUCIA $420 200 $430 259 4101 HIGHGATE HILL/ SOUTH BRIS/ WEST END $510 462 $520 374 4102 BURANDA/ DUTTON PARK/ WOOLOONGABBA $460 81 $480 80 4169 EAST BRIS/ KANGAROO POINT $480 248 $470 251 NORTH - INNER $375 1115 $370 1184 4007 ASCOT/ HAMILTON $410 189 $420 198 4010 ALBION/ BREAKFAST CREEK $395 36 $410 61 4011 CLAYFIELD/ HENDRA $350 152 $350 156 4012 NUNDAH/ TOOMBUL/ WAVELL HEIGHTS $380 226 $370 274 4030 LUTWYCHE/ WINDSOR/ WOOLOOWIN $390 236 $375 196 4031 GORDON PARK/ KEDRON $350 120 $340 104 4051 ALDERLEY/ ENOGERRA/ GAYTHORNE/ GRANGE/ NEWMARKET/ WILSTON $370 156 $360 195 NORTH - OUTER $360 326 $350 280 4013 NORTHGATE $360 34 $335 36 4014 BANYO/ NUDGEE/ VIRGINIA $290 6 $380 5 4017 BRACKEN RIDGE/ BRIGHTON/ DEAGON/ SANDGATE $340 22 $300 15 4018 FITZGIBBON/ TAIGUM $340 9 $335 8 4032 CHERMSIDE/ CRAIGSLEA $380 157 $365 134 4034 ASPLEY/ BOONDAL/ GEEBUNG/ ZILLMERE $350 97 $340 82 NORTH WEST - INNER $440 303 $455 279 4059 BALLYMORE/ ITHACA/ KELVIN GROVE/ RED HILL $470 212 $500 202 4060 ASHGROVE/ DORRINGTON/ ST JOHNS WOOD $410 69 $410 65 4065 BARDON/ JUBILEE/ RAINWORTH $450 22 $330 12 NORTH WEST - OUTER $385 138 $365 109 4053 BROOKSIDE/ EVERTON PARK/ MCDOWALL/ STAFFORD $385 137 $365 108 SOUTH - INNER $375 579 $360 514 4103 ANNERLEY/ FAIRFIELD $350 144 $350 128 4104 YERONGA $353 50 $350 43 4105 CLIFTON HILL/ MOOROOKA/ TENNYSON $380 71 $370 85 4120 GREENSLOPES/ STONES CORNER $360 127 $360 110 4121 EKIBIN/HOLLAND PARK/ TARRAGINDI/ WELLERS HILL $350 41 $340 39 4122 MANSFIELD/ MT GRAVATT/ WISHART $430 142 $395 105 SOUTH - OUTER $335 61 $315 82 4106 BRISBANE MARKET/ ROCKLEA $290 5 $295 5 4108 ARCHERFIELD/ COOPERS PLAINS $290 7 N/A 4 4109 ALTANDI/ MACGREGOR/ ROBERTSON/ SUNNYBANK $400 30 $380 42 4113 EIGHT MILES PLAINS/ RUNCORN $390 6 $395 8 4115 ALGESTER/ PARKINSON N.A. 4 $285 15 SOUTH EAST - INNER $385 479 $380 499 4151 COORPAROO $365 187 $360 200 4152 CAMP HILL/ CARINA/CARINDALE $370 59 $370 60 4170 CANNON HILL/ MORNINGSIDE/ NORMAN PARK $395 115 $400 122 4171 BALMORAL/ BULIMBA/ HAWTHORNE $425 110 $450 115 SOUTH EAST - OUTER $290 6 $325 7 4173 TINGALPA $290 6 $325 7 SOUTH WEST - INNER $395 402 $390 349 4068 CHELMER/ INDOOROOPILLY/ TARINGA $400 338 $390 298 4075 CORINDA/ GRACEVILLE/ OXLEY/ SHERWOOD $360 64 $390 51 SOUTH WEST - OUTER $325 31 $330 17 4069 BROOKFIELD/ CHAPEL HILL/ KENMORE 310 6 330 7 4074 JINDALEE/ MTOMMANEY/ SUMNER/ WESTLAKE 350 5 N/A 1 4076 DARRA/ WACOL 275 7 N/A 1 4078 FOREST LAKE/ CAROLE PARK 330 8 340 7 RENTAL MARKET - 3 BED TOWNHOUSES POST MAR-16 MAR-15 CODE LOCALITY L $/WEEK NEW BONDS $/WEEK NEW BONDS BRISBANE CITY $425 1947 $415 1896 BAYSIDE $410 68 $400 63 4178 LINDUM/ LYTTON/ WYNNUM $410 44 $400 39 4179 LOTA/ MANLY $415 24 $410 24 CITY INNER $570 111 $580 97 4000 BRISBANE CITY/ SPRING HILL $705 5 N.A. 3 4005 NEW FARM/ TENERIFFE $595 5 $700 5 4006 BOWEN HILLS/ VALLEY/ HERSTON/ NEWSTEAD $520 19 $560 8 4064 MILTON/ PADDINGTON/ ROSALIE $570 17 $630 17 4066 AUCHENFLOWER/ MTCOOTHA/ TOOWONG $540 25 $535 20 4067 IRONSIDE/ ST LUCIA $590 20 $600 26 4101 HIGHGATE HILL/ SOUTH BRIS/ WEST END $630 14 $625 8 4169 EAST BRIS/ KANGAROO POINT $495 5 $465 10 NORTH - INNER $495 147 $490 141 4007 ASCOT/ HAMILTON $600 10 $565 16 4011 CLAYFIELD/ HENDRA $540 16 $600 13 4012 NUNDAH/ TOOMBUL/ WAVELL HEIGHTS $470 24 $465 22 4030 LUTWYCHE/ WINDSOR/ WOOLOOWIN $540 24 $500 16 4031 GORDON PARK/ KEDRON $480 25 $450 26 4051 ALDERLEY/ ENOGERRA/ GAYTHORNE/ GRANGE/ NEWMARKET/ WILSTON $480 44 $485 44 NORTH - OUTER $395 230 $395 232 4013 NORTHGATE $460 8 $410 12 4017 BRACKEN RIDGE/ BRIGHTON/ DEAGON/ SANDGATE $375 41 $375 57 4018 FITZGIBBON/ TAIGUM $395 50 $395 58 4032 CHERMSIDE/ CRAIGSLEA $445 44 $430 32 4034 ASPLEY/ BOONDAL/ GEEBUNG/ ZILLMERE $390 71 $395 61 4036 BALD HILLS $365 15 $286 10 NORTH WEST - INNER $510 21 $550 26 4059 BALLYMORE/ ITHACA/ KELVIN GROVE/ RED HILL $500 10 $550 16 4060 ASHGROVE/ DORRINGTON/ ST JOHNS WOOD $450 6 $500 6 4065 BARDON/ JUBILEE/ RAINWORTH $530 5 N/A 4 NORTH WEST - OUTER $440 95 $430 92 4053 BROOKSIDE/ EVERTON PARK/ MCDOWALL/ STAFFORD $440 75 $430 77 4054 ARANA HILLS/ KEPERRA $385 5 $385 9 4061 THE GAP $530 15 $480 6 SOUTH - INNER $450 199 $435 185 4103 ANNERLEY/ FAIRFIELD $500 38 $500 32 4104 YERONGA $500 21 $450 22 4105 CLIFTON HILL/ MOOROOKA/ TENNYSON $465 35 $440 29 4120 GREENSLOPES/ STONES CORNER $490 24 $470 17 4121 EKIBIN/HOLLAND PARK/ TARRAGINDI/ WELLERS HILL $430 17 $425 14 4122 MANSFIELD/ MT GRAVATT/ WISHART $425 64 $420 71 SOUTH - OUTER $400 390 $395 428 4107 SALISBURY $440 8 $480 15 4109 ALTANDI/ MACGREGOR/ ROBERTSON/ SUNNYBANK $420 66 $410 81 4110 ACACIA RIDGE/ LARAPINTA/ WILLAWONG $350 17 $340 29 4112 KURABY $375 23 $375 34 4113 EIGHT MILES PLAINS/ RUNCORN $420 129 $410 150 4115 ALGESTER/ PARKINSON $375 27 $375 33 4116 CALAMVALE/ DREWVALE/ STRETTON $390 118 $385 83 SOUTH EAST - INNER $485 293 $485 243 4151 COORPAROO $520 31 $500 19 4152 CAMP HILL/ CARINA/ CARINDALE $450 136 $450 117 4170 CANNON HILL/ MORNINGSIDE/ NORMAN PARK $495 83 $500 68 4171 BALMORAL/ BULIMBA/ HAWTHORNE $600 31 $565 26 4172 MURARRIE $490 12 $500 13 SOUTH EAST - OUTER $420 58 $410 60 4153 BELMONT $430 11 $430 11 4154 GUMDALE/ RANSOME/ WAKERLEY $420 24 $415 32 4173 TINGALPA $395 20 $390 15 SOUTH WEST - INNER $470 98 $465 107 4068 CHELMER/ INDOOROOPILLY/ TARINGA $520 46 $530 43 4075 CORINDA/ GRACEVILLE/ OXLEY/ SHERWOOD $400 52 $400 64 12 QUEENSLAND MARKET MONITOR

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 $360 237 $365 222 4069 BROOKFIELD/ CHAPEL HILL/ KENMORE $550 5 N/A 3 4073 SEVENTEEN MILE ROCKS/ SINNAMON PARK $410 16 $420 9 4074 JINDALEE/ MTOMMANEY/ SUMNER/ WESTLAKE $405 15 $440 22 4076 DARRA/ WACOL $385 22 $375 37 4077 DOOLANDELLA/ DURACK/ INALA/ RICHLANDS $350 152 $355 120 4078 FOREST LAKE/ CAROLE PARK $365 26 $350 31 BRISBANE HOUSE S 2,860 2,797 1,751 150 121 89 940 788 580 512 540 277 <$350K $350K+ $500k+ $1M+ Houses<2,400m BRISBANE UNIT S 1,612 1,294 785 920 743 511 450 490 285 112 56 60 114 92 50 <$250k $250K+ $350K+ $500k+ $1M+ BRISBANE LAND S 165 161 145 137 96 71 73 51 50 33 13 19 <$250k $250K+ $350K+ $500k+ MARCH QUARTER 2016 13

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 2016. 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 4-5.7 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 2016. 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 2016. 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 2016. 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 2016. 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 2016. 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

BRISBANE MARKET UPDATES S MARKET - HOUSES S MARKET - HOUSES (CONT D) S S BRISBANE (SD) 6207 $480,000-4.0% $485,000 2.1% 7.8% $450,000 BRISBANE (SD) ^ 461 $595,000 0.9% $599,000 4.2% 5.1% $570,000 IPSWICH (LGA) 618 $321,500-0.2% $320,000 1.9% 1.6% $315,000 IPSWICH (LGA) ^ 39 $504,999 3.1% $490,000 4.3% -2.5% $502,500 AUGUSTINE HEIGHTS 17 N/A N/A $515,000-0.4% -1.6% $523,500 BELLBIRD PARK 22 $329,000-4.6% $330,000-0.2% 5.6% $312,500 BASIN POCKET 9 N/A N/A $230,000 2.9% 3.4% $222,500 BOOVAL 16 N/A N/A $280,000 7.3% -2.4% $287,000 BRASSALL 32 $327,000 1.9% $325,000 3.2% -3.0% $335,000 BUNDAMBA 18 N/A N/A $285,000 1.8% 1.8% $280,000 CAMIRA 18 N/A N/A $351,000 1.3% 1.7% $345,000 COALFALLS 7 N/A N/A $299,500 6.2% -6.4% $320,000 COLLINGWOOD PARK 24 $318,000 2.6% $317,250 3.7% 0.1% $317,000 DEEBING HEIGHTS 10 N/A N/A $375,000-3.5% -31.2% $545,000 EAST IPSWICH 8 N/A N/A $275,000 5.2% 0.9% $272,500 EASTERN HEIGHTS 15 N/A N/A $272,500 1.7% 0.8% $270,425 FLINDERS VIEW 21 $370,000 14.7% $362,000 3.7% 0.6% $360,000 GAILES 4 N/A N/A $248,500 3.5% -2.2% $254,000 GOODNA 29 $313,000 5.2% $295,000 3.5% 0.0% $295,000 IPSWICH 9 N/A N/A $300,500 1.2% -8.5% $328,500 KARALEE ^ 10 N/A N/A $541,250 8.3% 5.1% $515,000 LEICHHARDT 14 N/A N/A $224,500 0.9% -5.5% $237,500 NEWTOWN 5 N/A N/A $299,000-6.2% -8.8% $328,000 NORTH BOOVAL 9 N/A N/A $275,000 17.0% 0.0% $275,000 NORTH IPSWICH 20 $301,250 15.9% $275,000 5.8% -5.8% $292,000 ONE MILE 7 N/A N/A $235,000-3.1% -5.7% $249,250 RACEVIEW 43 $303,250-5.2% $308,000 1.0% -1.0% $311,000 REDBANK 5 N/A N/A $300,500 3.6% -3.1% $310,000 REDBANK PLAINS 78 $324,000 3.9% $315,000 3.0% 5.0% $300,000 RIPLEY 9 N/A N/A $342,000 11.8% 3.4% $330,750 RIVERVIEW 8 N/A N/A $239,900 11.6% 4.3% $230,000 ROSEWOOD 13 N/A N/A $262,500-2.8% -3.8% $273,000 SADLIERS CROSSING 3 N/A N/A $325,000 10.2% 10.2% $295,000 SILKSTONE 18 N/A N/A $287,000 12.6% 7.6% $266,750 SPRINGFIELD 20 $420,000 5.1% $405,000 5.7% 6.6% $380,000 SPRINGFIELD LAKES 45 $412,000-3.4% $415,000 1.0% 4.5% $397,000 WOODEND 9 N/A N/A $280,000-16.2% -15.4% $331,075 WULKURAKA 6 N/A N/A $315,150 13.4% 0.8% $312,500 YAMANTO 12 N/A N/A $393,250-4.1% 12.4% $350,000 LOGAN (LGA) 808 $370,000 0.5% $365,000 4.3% 2.0% $358,000 LOGAN (LGA) ^ 169 $550,000 3.8% $540,000 4.9% 6.9% $505,000 BEENLEIGH 35 $317,500 2.6% $310,500 3.5% -5.5% $328,500 BETHANIA 9 N/A N/A $311,250 7.3% 2.0% $305,000 BORONIA HEIGHTS 34 $352,000 10.0% $320,000 0.0% 3.2% $310,000 BROWNS PLAINS 17 N/A N/A $325,000 8.3% 4.8% $310,000 CEDAR GROVE ^ 5 N/A N/A $430,000 2.4% 9.6% $392,500 CEDAR VALE ^ 15 N/A N/A $461,500 6.1% 4.8% $440,500 CHAMBERS FLAT ^ 5 N/A N/A $560,000 8.7% 32.1% $424,000 CORNUBIA ^ 7 N/A N/A $761,250 5.7% 2.9% $740,000 CORNUBIA 24 $548,500 12.5% $489,000-7.7% 1.9% $480,000 CRESTMEAD 39 $322,500 0.8% $310,000 5.1% 0.0% $310,000 DAISY HILL 28 $455,000 1.1% $450,000 0.0% 3.8% $433,500 EAGLEBY 47 $299,000 8.7% $280,000 6.5% -1.2% $283,500 EDENS LANDING 27 $367,000 9.6% $345,000 1.5% -2.1% $352,500 FORESTDALE ^ 9 N/A N/A $763,750 14.9% 18.0% $647,500 GREENBANK ^ 19 N/A N/A $560,000 6.4% 10.9% $505,000 HERITAGE PARK 23 $410,000-1.8% $428,000 8.4% 9.0% $392,500 HILLCREST 18 N/A N/A $350,000 6.0% 2.3% $342,000 HOLMVIEW 8 N/A N/A $357,500 6.7% 13.1% $316,000 JIMBOOMBA 14 N/A N/A $374,500 1.4% -2.3% $383,500 JIMBOOMBA ^ 28 $470,000-5.9% $470,000 3.3% -1.1% $475,000 KINGSTON 18 N/A N/A $295,000 6.9% 6.2% $277,750 LOGAN CENTRAL 9 N/A N/A $305,000 13.0% 10.9% $275,000 LOGAN RESERVE 7 N/A N/A $379,000 6.8% 8.5% $349,250 LOGAN VILLAGE ^ 7 N/A N/A $503,750 2.8% 3.9% $485,000 LOGANHOLME 32 $375,000-2.9% $386,000 6.5% 5.8% $365,000 LOGANLEA 27 $340,000-2.9% $345,000 9.7% 9.2% $316,000 MARSDEN 50 $350,000-2.8% $345,000 4.9% 4.9% $328,750 MEADOWBROOK 7 N/A N/A $381,500 0.4% -1.2% $386,000 MOUNT WARREN PARK 16 N/A N/A $361,000 5.6% -1.6% $367,000 MUNRUBEN ^ 6 N/A N/A $524,000 6.0% 4.0% $504,000 NEW BEITH ^ 7 N/A N/A $562,500 2.8% 6.1% $530,000 REGENTS PARK 31 $370,000-2.6% $375,000 5.6% 2.7% $365,000 ROCHEDALE SOUTH 36 $470,000-2.6% $468,000 6.4% 15.0% $407,000 SHAILER PARK 39 $532,000 5.2% $520,225 6.2% 11.3% $467,500 SLACKS CREEK 22 $303,500-9.4% $320,000 4.9% 6.7% $300,000 SPRINGWOOD 29 $475,000-2.6% $467,000 6.1% 13.9% $410,000 TANAH MERAH 18 N/A N/A $410,000 3.2% 5.1% $390,000 UNDERWOOD 25 $485,000-3.0% $499,999 3.1% 12.4% $445,000 WATERFORD 19 N/A N/A $398,000 9.0% 2.1% $389,750 WATERFORD WEST 16 N/A N/A $340,000 8.3% 6.6% $319,000 WINDAROO 11 N/A N/A $420,000-3.5% 2.4% $410,000 WOODRIDGE 42 $310,000 1.6% $300,000 13.2% 11.1% $270,000 MORETON BAY (LGA) 1398 $415,000-1.2% $415,000 5.1% 5.1% $395,000 MORETON BAY (LGA) ^ 162 $600,000 0.0% $600,000 2.6% 1.9% $589,000 ALBANY CREEK 59 $558,750-0.2% $565,000 11.9% 8.7% $520,000 ARANA HILLS 28 $521,500 2.8% $498,250 1.7% 14.0% $437,000 BANKSIA BEACH 29 $489,000-7.7% $525,000 8.3% 9.4% $480,000 BEACHMERE 20 $317,500 0.8% $315,000-2.3% -8.7% $345,000 BELLARA 19 N/A N/A $319,500-4.1% -3.9% $332,500 BELLMERE 19 N/A N/A $340,000 1.5% -4.2% $354,750 BONGAREE 28 $395,000-8.8% $410,000 7.6% -3.5% $425,000 BRAY PARK 57 $388,500-1.7% $390,000 4.0% 8.5% $359,450 BUNYA ^ 2 N/A N/A $807,000 3.8% -3.4% $835,000 BURPENGARY 23 $385,000-1.3% $386,000 5.5% 4.9% $368,000 BURPENGARY ^ 11 N/A N/A $550,000-0.9% 4.7% $525,500 BURPENGARY EAST 12 N/A N/A $424,000 4.7% -30.5% $609,750 BURPENGARY EAST ^ 15 N/A N/A $565,000 7.6% 5.5% $535,500 CABOOLTURE 90 $324,000 0.2% $310,000 6.9% 0.0% $310,000 CABOOLTURE ^ 11 N/A N/A $512,500 9.0% 8.4% $473,000 CABOOLTURE SOUTH 27 $270,000-3.6% $272,000 0.7% -3.7% $282,500 CASHMERE 20 $590,500 2.7% $610,000-8.3% 15.1% $530,000 CLONTARF 36 $403,750-2.7% $413,000 8.3% 14.7% $360,000 DAKABIN 8 N/A N/A $450,000 0.0% 4.7% $430,000 DECEPTION BAY 86 $340,000 2.7% $330,000 5.8% 6.5% $310,000 EATONS HILL 35 $579,500 7.3% $548,000-0.4% 7.0% $512,375 ELIMBAH ^ 5 N/A N/A $507,000 5.6% 3.5% $490,000 EVERTON HILLS 19 N/A N/A $524,025 5.9% 11.5% $470,000 FERNY HILLS 33 $508,250-1.3% $512,250 9.1% 12.0% $457,500 GRIFFIN 19 N/A N/A $438,550 0.8% 7.0% $410,000 JOYNER 5 N/A N/A $465,000-12.6% -1.1% $470,000 KALLANGUR 89 $352,950-3.8% $362,000 3.4% 4.3% $347,000 KIPPA-RING 34 $412,250 3.1% $392,500 5.9% 12.1% $350,000 LAWNTON 14 N/A N/A $364,500 3.6% 5.7% $345,000 MANGO HILL 25 $466,000-3.6% $460,716 1.3% 4.7% $440,000 MARGATE 28 $420,000 6.6% $412,250 7.1% 8.5% $380,000 MORAYFIELD 65 $340,000 2.6% $332,000 4.7% 2.2% $325,000 MORAYFIELD ^ 10 N/A N/A $541,250 1.0% -1.6% $550,000 MURRUMBA DOWNS 26 $535,000 15.2% $470,000 3.3% 9.3% $430,000 NARANGBA 71 $453,500 1.3% $445,000 5.5% 6.0% $420,000 NARANGBA ^ 5 N/A N/A $680,000 7.9% 19.8% $567,500 NEWPORT 14 N/A N/A $867,000 12.2% 7.7% $805,000 NINGI 13 N/A N/A $365,000-1.0% -15.1% $430,000 NINGI ^ 12 N/A N/A $525,000 3.6% 12.9% $465,000 NORTH LAKES 89 $460,000-1.1% $460,000 2.0% 2.2% $450,000 PETRIE 31 $415,000 4.7% $396,500 1.5% 4.1% $381,000 REDCLIFFE 31 $441,000 7.8% $400,000 5.0% 5.3% $380,000 ROTHWELL 21 $410,500 2.6% $399,000 1.0% 5.0% $380,000 SAMFORD VALLEY ^ 10 N/A N/A $880,000-0.1% 7.1% $822,000 SANDSTONE POINT 16 N/A N/A $395,000 6.3% 0.0% $395,000 SCARBOROUGH 32 $457,500-7.1% $470,000 2.2% 7.1% $439,000 STRATHPINE 23 $380,000 2.7% $360,180-1.5% 2.9% $350,000 TOORBUL 7 N/A N/A $302,500 10.0% -12.9% $347,500 UPPER CABOOLTURE 10 N/A N/A $340,000 4.6% 1.2% $336,000 UPPER CABOOLTURE ^ 4 N/A N/A $545,000 3.3% 5.8% $515,000 MARCH QUARTER 2016 15

BRISBANE MARKET UPDATES S MARKET - HOUSES (CONT D) S MARKET - UNITS & TOWNHOUSES S S WAMURAN ^ 8 N/A N/A $552,500 5.6% 3.3% $535,000 WARNER 38 $512,500 4.7% $485,000 0.9% 2.1% $475,000 WARNER ^ 4 N/A N/A $810,000 7.6% 24.8% $649,000 WOODY POINT 13 N/A N/A $475,000 17.5% 18.2% $402,000 REDLAND (LGA) 545 $499,000 1.9% $490,000 3.2% 6.5% $460,000 REDLAND (LGA) ^ 21 $920,000 7.6% $860,000 2.9% 7.8% $797,500 ALEXANDRA HILLS 63 $430,000-3.4% $428,000 4.4% 4.4% $410,000 BIRKDALE 47 $547,500 7.4% $514,000 4.4% 14.2% $450,000 CAPALABA 60 $447,500 2.3% $437,500-0.5% 7.8% $406,000 CAPALABA ^ 3 N/A N/A $846,000 1.9% 8.5% $780,000 CLEVELAND 46 $597,000 8.6% $576,000 10.8% 10.8% $520,000 MACLEAY ISLAND 13 N/A N/A $230,000 15.0% -9.8% $255,000 MOUNT COTTON 30 $497,000 4.5% $483,000 1.7% 2.8% $469,900 ORMISTON 31 $579,000-17.3% $639,500 7.9% 8.4% $590,000 REDLAND BAY 61 $523,000-8.3% $520,000 0.0% 6.1% $490,000 RUSSELL ISLAND 19 N/A N/A $174,000 3.6% -15.1% $205,000 THORNESIDE 6 N/A N/A $477,500 0.5% 2.7% $465,000 THORNLANDS 44 $540,000-1.8% $550,000 8.0% 1.8% $540,400 THORNLANDS ^ 3 N/A N/A $950,000 11.0% 11.4% $852,500 VICTORIA POINT 54 $529,000 4.8% $511,000 6.5% 8.7% $470,000 WELLINGTON POINT 51 $565,000 1.0% $566,000 1.3% 4.8% $540,000 SURROUNDS LOCKYER VALLEY (LGA) 39 $250,000 0.9% $250,000 2.0% -9.1% $275,000 LOCKYER VALLEY (LGA)^ 63 $350,000-4.1% $350,000-0.1% 1.4% $345,000 GATTON 19 N/A N/A $258,000-0.2% -10.6% $288,750 KENSINGTON GROVE ^ 6 N/A N/A $355,000-3.4% 0.0% $355,000 LAIDLEY 14 N/A N/A $235,000 0.0% -7.8% $255,000 LAIDLEY HEIGHTS ^ 3 N/A N/A $276,750-8.1% -17.4% $335,000 REGENCY DOWNS ^ 8 N/A N/A $300,000-0.8% -6.4% $320,500 SCENIC RIM (LGA) 76 $349,250-1.6% $360,000-1.0% -5.3% $380,000 SCENIC RIM (LGA) ^ 53 $505,000 4.1% $507,500 2.3% 8.6% $467,250 BEAUDESERT 15 N/A N/A $320,000-3.0% -6.0% $340,250 BOONAH 19 N/A N/A $277,500 8.8% 0.5% $276,000 KOORALBYN ^ 6 N/A N/A $343,000 12.5% 7.2% $320,000 TAMBORINE ^ 14 N/A N/A $525,000-0.9% -2.8% $540,000 TAMBORINE MOUNTAIN 27 $435,000-10.8% $450,000 2.3% 1.1% $445,000 TAMBORINE MOUNTAIN ^ 10 N/A N/A $740,000 14.7% 1.4% $730,000 SOMERSET (LGA) 36 $227,250 1.0% $247,000-0.2% -8.2% $269,000 SOMERSET (LGA) ^ 38 $350,000-4.1% $360,000-5.3% 0.0% $360,000 FERNVALE 9 N/A N/A $335,000-0.5% -0.7% $337,500 KILCOY 4 N/A N/A $215,000-6.5% -17.3% $260,000 LOWOOD 7 N/A N/A $250,000 5.5% -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 $395,000-1.3% $400,000-0.7% 3.9% $385,000 IPSWICH (LGA) 54 $237,000-21.0% $300,000 0.0% 3.8% $289,000 BRASSALL 2 N/A N/A $248,500-5.5% -15.8% $295,000 BROOKWATER 7 N/A N/A $522,000 45.4% 41.8% $368,000 BUNDAMBA 4 N/A N/A $305,950 2.0% 102.3% $151,250 GOODNA 3 N/A N/A $310,000 0.0% 29.7% $239,000 REDBANK PLAINS 7 N/A N/A $231,500 1.0% -26.5% $315,000 SPRINGFIELD LAKES 2 N/A N/A $384,900 0.8% 87.8% $205,000 LOGAN (LGA) 188 $245,000-3.5% $250,000 0.0% -9.4% $276,000 BEENLEIGH 12 N/A N/A $207,000 10.7% -12.8% $237,500 BORONIA HEIGHTS 6 N/A N/A $250,000 6.4% 39.7% $179,000 DAISY HILL 2 N/A N/A $315,000 7.9% 0.8% $312,500 EAGLEBY 15 N/A N/A $218,000 1.2% -29.7% $310,000 EDENS LANDING 10 N/A N/A $215,500 3.9% -14.5% $252,000 HILLCREST 3 N/A N/A $229,000 1.8% -13.2% $263,750 KINGSTON 5 N/A N/A $275,000-1.8% -18.5% $337,500 LOGAN CENTRAL 9 N/A N/A $190,000 0.8% -15.2% $224,000 MARSDEN 2 N/A N/A $332,000 0.6% 2.6% $323,500 MEADOWBROOK 2 N/A N/A $259,500 1.4% -3.7% $269,500 MOUNT WARREN PARK 8 N/A N/A $215,000 0.0% -2.3% $220,000 ROCHEDALE SOUTH 10 N/A N/A $280,000 1.8% 2.4% $273,500 SHAILER PARK 8 N/A N/A $275,000-1.8% -13.2% $317,000 SLACKS CREEK 9 N/A N/A $219,500 4.5% -6.2% $234,000 SPRINGWOOD 9 N/A N/A $266,000-4.0% -4.5% $278,500 UNDERWOOD 5 N/A N/A $390,000 2.6% 1.4% $384,500 WATERFORD WEST 19 N/A N/A $213,000 9.2% -5.5% $225,500 WOODRIDGE 20 $200,000 0.0% $195,000 4.6% -8.0% $212,000 MORETON BAY (LGA) 331 $310,000-7.2% $335,750 0.2% -0.4% $337,000 ALBANY CREEK 9 N/A N/A $410,000-1.7% 2.8% $399,000 BELLARA 7 N/A N/A $282,000 35.9% 156.4% $110,000 BONGAREE 12 N/A N/A $307,500 0.8% -12.1% $350,000 BRENDALE 19 N/A N/A $270,000-11.6% -3.7% $280,500 BURPENGARY 6 N/A N/A $277,500-10.4% -11.9% $315,000 CABOOLTURE 22 $152,500-15.3% $193,000-7.7% -29.8% $275,000 CLONTARF 10 N/A N/A $341,000-18.3% 1.8% $335,000 DECEPTION BAY 18 N/A N/A $240,000 1.7% -27.3% $330,000 KALLANGUR 17 N/A N/A $305,000-8.1% -1.6% $310,000 KIPPA-RING 12 N/A N/A $280,000 2.7% -16.4% $335,000 LAWNTON 9 N/A N/A $225,500-8.0% -34.6% $345,000 MANGO HILL 6 N/A N/A $367,500 0.7% -2.6% $377,500 MARGATE 9 N/A N/A $370,000 2.1% 2.4% $361,500 MORAYFIELD 8 N/A N/A $225,000-18.2% -29.7% $320,000 MURRUMBA DOWNS 7 N/A N/A $345,000 1.5% -0.9% $348,000 NORTH LAKES 13 N/A N/A $372,000 3.9% 10.1% $338,000 PETRIE 2 N/A N/A $332,000-1.2% -6.2% $354,000 REDCLIFFE 33 $337,000-9.4% $360,000 2.9% -12.3% $410,650 SCARBOROUGH 19 N/A N/A $426,250 10.7% 4.6% $407,500 STRATHPINE 6 N/A N/A $272,500 4.8% -5.4% $288,000 WOODY POINT 19 N/A N/A $395,000 23.4% -5.7% $419,000 WOORIM 10 N/A N/A $317,500-9.8% -3.8% $330,000 REDLAND (LGA) 126 $370,000-0.7% $394,000 1.0% 11.0% $355,000 BIRKDALE 8 N/A N/A $400,000 10.2% 23.1% $325,000 CAPALABA 34 $314,000-9.7% $346,700-8.8% 15.6% $300,000 CLEVELAND 28 $375,000 3.3% $385,000-11.2% -0.6% $387,250 ORMISTON 12 N/A N/A $379,500 2.9% 0.1% $379,000 THORNESIDE 7 N/A N/A $322,000 6.8% 9.2% $295,000 THORNLANDS 3 N/A N/A $395,000 0.3% -16.8% $475,000 VICTORIA POINT 12 N/A N/A $360,000 0.0% 5.9% $340,000 WELLINGTON POINT 6 N/A N/A $454,900 0.0% 26.4% $360,000 16 QUEENSLAND MARKET MONITOR

BRISBANE MARKET UPDATES S MARKET - VACANT LAND S BRISBANE (SD) 702 $225,000 2.7% $220,000 1.2% 7.3% $205,000 BRISBANE (SD) ^ 108 $280,000 0.2% $275,000 1.9% -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 $191,000 5.0% $180,900 0.5% 1.1% $179,000 IPSWICH (LGA) ^ 18 N/A N/A $243,500-1.5% -4.9% $255,950 BELLBIRD PARK 13 N/A N/A $219,950 3.5% -8.4% $240,000 BRASSALL 11 N/A N/A $178,750-3.4% 0.3% $178,250 KARALEE ^ 5 N/A N/A $280,000 3.7% 6.4% $263,250 LEICHHARDT 6 N/A N/A $149,900 0.8% -15.5% $177,475 REDBANK PLAINS 12 N/A N/A $160,000 3.9% -8.6% $175,000 RIPLEY 7 N/A N/A $173,500 2.1% N/A N/A SOUTH RIPLEY 10 N/A N/A $178,000-1.1% N/A N/A SPRINGFIELD LAKES 4 N/A N/A $202,000 0.0% 10.4% $183,000 LOGAN (LGA) 128 $207,444 7.8% $183,689 0.9% -12.5% $210,000 LOGAN (LGA) ^ 42 $286,000 2.5% $270,000 3.9% 3.8% $260,000 BUCCAN ^ 9 N/A N/A $290,000 1.8% -27.1% $398,000 CORNUBIA 2 N/A N/A $365,000 4.3% 62.2% $225,000 CRESTMEAD 2 N/A N/A $205,000-2.4% 0.0% $205,000 HOLMVIEW 7 N/A N/A $183,850 2.8% -14.4% $214,900 JIMBOOMBA 3 N/A N/A $158,950-6.4% -14.5% $186,000 JIMBOOMBA ^ 3 N/A N/A $259,500 7.2% 18.0% $220,000 LOGAN RESERVE 1 N/A N/A $176,500 7.2% N/A N/A LOGAN VILLAGE 3 N/A N/A $255,000 2.0% 4.1% $245,000 LOGANLEA 5 N/A N/A $207,500 6.4% -7.8% $225,000 MARSDEN 2 N/A N/A $210,700 12.1% 7.0% $197,000 NEW BEITH ^ 11 N/A N/A $295,000 1.7% 12.8% $261,500 WATERFORD 4 N/A N/A $199,750 14.6% 5.1% $190,000 YARRABILBA 61 $183,500 3.0% $171,150 6.6% 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 2016 1,917 1,723 1,405 1,476 1,077 RISING 939 FALLING Brisbane 918 715 Redland Moreton Bay Logan <$350K $350K+ $500k+ $1M+ *Preliminary Ipswich data Houses<2,400m Source: REIQ STEADY RECOVERING STABILISING 46 STEADY 38 25 MORETON BAY (LGA) 157 $235,800 1.3% $235,000 5.6% 15.0% $204,400 MORETON BAY (LGA) ^ 40 $275,000 0.0% $275,000 0.0% -19.1% $340,000 BANKSIA BEACH 2 N/A N/A $462,000 14.1% 7.4% $430,000 BURPENGARY 0 N/A N/A $230,000 7.0% -9.8% $255,000 CABOOLTURE 9 N/A N/A $189,000 5.6% -2.6% $194,000 CABOOLTURE ^ 20 $275,000 1.9% $265,000 1.9% -3.6% $275,000 DAKABIN 7 N/A N/A $225,000 4.7% 7.1% $210,000 GRIFFIN 17 N/A N/A $249,000 9.9% 19.4% $208,500 KALLANGUR 4 N/A N/A $235,000 6.8% 12.4% $209,016 MANGO HILL 24 $256,000-3.4% $256,000 8.9% -1.5% $260,000 MORAYFIELD 5 N/A N/A $183,500 1.4% -5.4% $194,000 NARANGBA 17 N/A N/A $214,600 4.2% -2.5% $220,000 NORTH LAKES 3 N/A N/A $281,000 15.2% 33.3% $210,750 WARNER 19 N/A N/A $256,100 9.0% 10.4% $232,000 REDLAND (LGA) 180 N/D N/D $225,000-15.1% -6.3% $240,000 BIRKDALE 2 N/A N/A $310,000 0.3% 3.3% $300,000 MACLEAY ISLAND 18 N/A N/A $30,000-6.3% -41.7% $51,500 MOUNT COTTON 11 N/A N/A $263,000-0.8% 0.0% $263,000 REDLAND BAY 20 $300,000 1.4% $295,000 4.0% -1.3% $299,000 RUSSELL ISLAND 102 $20,000 8.1% $18,800 1.6% -46.3% $35,000 THORNLANDS 10 N/A N/A $310,000 8.8% 8.8% $285,000 WELLINGTON POINT 1 N/A N/A $403,500 11.7% 23.6% $326,500 SURROUNDS LOCKYER VALLEY (LGA) 13 N/A N/A $125,500 25.5% -2.7% $129,000 LOCKYER VALLEY (LGA) ^ 19 N/A N/A $135,000 1.1% -4.3% $141,000 KENSINGTON GROVE ^ 4 N/A N/A $152,750 2.9% 6.8% $143,000 SCENIC RIM (LGA) 7 N/A N/A $182,900 2.2% -3.7% $190,000 SCENIC RIM (LGA) ^ 8 N/A N/A $202,500-22.7% 9.5% $185,000 GLENEAGLE 1 N/A N/A $184,450 2.5% 7.2% $172,000 SOMERSET (LGA) 9 N/A N/A $140,000-1.8% 8.5% $129,000 FERNVALE 5 N/A N/A $152,000 2.0% 6.3% $143,000 MARCH QUARTER 2016 17

BRISBANE MARKET UPDATES RENTAL MARKET - 3 BED HOUSES POST MAR-16 MAR-15 CODE LOCALITY L $/WEEK NEW BONDS $/WEEK NEW BONDS IPSWICH CITY $310 717 $300 797 4300 GOODNA/ BELLBIRD PK/ CAMIRA/ SPRINGFIELD $350 176 $350 202 4301 REDBANK/ REDBANK PLNS/ COLLINGWOOD PK $320 100 $310 95 4303 DINMORE/ RIVERVIEW $275 17 $275 23 4304 BOOVAL/ BLACKSTONE/ BUNDAMBA/ EBBW VALE/ SILKSTONE $290 86 $285 103 4305 IPSWICH/ BRASSALL/ BREMER/ CHURCHILL/ FLINDERS VIEW/ LEICHARDT/ RACEVIEW/ TIVOLI/ YAMANTO ETC $295 269 $290 285 AMBERLEY/ FERNVALE/ KARANA 4306 DOWNS/ MT CROSBY/ PEAK CROSSING/ $340 42 $290 66 SWANBANK/ WILLOWBANK ETC 4340 ROSEWOOD/ ASHWELL/ CALVERT/ EBENEZER/ GRANDCHESTER/ MOORANG/ $290 24 $290 21 MT FORBES/ ROSEVALE ETC LOGAN CITY $340 865 $347 857 4114 KINGSTON/ LOGAN CITY/ TRINDER PK/ WOODRIDGE $320 172 $320 147 BROWNS PLAINS/BROWNSLEIGH/ 4118 FORESTDALE/ HERITAGE PK/ HILLCREST/ $350 71 $345 89 REGENTS PK 4119 UNDERWOOD $380 14 $365 10 4123 PRIESTS GULLY/ ROCHEDALE $385 32 $395 71 4124 BORONIA HTS/ GREENBANK/ NEW BEITH $340 47 $340 37 4125 MUNRUBEN/ PARK RIDGE $420 5 $400 8 4127 CHATSWOOD HILLS/ DAISY HILL/ $360 PREISTDALE/ SLACKS CK/ SPRINGWOOD 89 $380 85 4128 KIMBERLEY PK/ LOGAN HYPERDOME/ SHAILER PK/ TANAH MERAH $375 28 $385 35 4129 LOGANDALE/ LOGANHOLME $360 13 $360 14 4130 CARBROOK/ CORNUBIA $400 8 $395 12 4131 LOGANLEA/ MEADOWBROOK $350 28 $350 21 4132 CRESTMEAD/ MARSDEN $335 98 $340 97 4133 CHAMBERS FLAT/ LOGAN RESERVE/ WATERFORD $360 49 $360 27 4205 BETHANIA $330 20 $330 18 4207 BEENLEIGH/ EAGLBY/ MT WARREN PK $340 175 $330 167 MORETON BAY REGIONAL $350 976 $350 1043 REDCLIFFE REGION $360 206 $360 205 4019 CLONTARF/ HUMPYBONG/ MARGATE/ SCOTTS PT/ WOODY PT $360 88 $360 92 4020 REDCLIFFE/ SCARBOROUGH/ NEWPORT WATERS/ SUTTONS BCH $355 69 $360 72 4021 KIPPA-RING $375 29 $350 21 4022 ROTHWELL $350 20 $345 20 PINE RIVERS REGION $370 367 $370 393 4035 ALBANY CK/ BRIDGEMAN DOWNS/ CASHS CROSSING $430 33 $420 26 4037 EATONS HILL $450 5 $440 7 4055 BUNYA/ FERNY GROVE/ FERNY HILLS/ KEDRON UPPER $410 32 $450 31 4500 BRAY PK/ BRENDALE/ CASHMERE/ CLEAR MOUNTAIN/ JOYNER/ $370 71 $370 83 STRATHPINE/ WARNER 4501 LAWNTON $345 19 $350 23 4502 FRENCHS FOREST/ PETRIE $335 19 $340 18 4503 DAKABIN/ DOHLES ROCKS/ GRIFFIN/ KALLANGUR/ KURWONGBAH $350 104 $350 105 4509 MANGO HILL $385 71 $380 80 4520 CAMP MOUNTAIN/ CEDAR CK/ MT GLORIOUS/ MT NEBO/ MT SAMSON/ $460 6 $450 11 SAMFORD/ YUGAR 4521 DAYBORO/ MT MEE/ MT PLEASANT/ OCEAN VIEW/ RUSH CK $375 7 $385 9 CABOOLTURE REGION $320 403 $315 445 4504 NARANGBA $360 20 $360 31 4505 BURPENGARY $350 25 $340 30 4506 MORAYFIELD/ MOORINA $320 59 $300 54 4507 BANKSIA BEACH/ BELLARA/ BONGAREE/ $350 BRIBIE IS/ WOORIM 44 $340 32 4508 DECEPTION BAY $320 81 $310 91 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 $295 167 TOORBUL 4511 GODWIN BEACH/ NINGI/ SANDSTONE PT/ $335 TOORBUL PT 16 $345 18 WOODFORD/ BELLTHORPE/ BRACALBA/ 4514 CEDARTON/ D'AGUILAR/ DELANEYS CK/ NEURUM/ STANMORE/ STONEY CK/ $330 8 $325 17 VILLENEUVE REDLAND CITY COUNCIL AREA $390 308 $390 303 4157 CAPALABA/ SHELDON $400 33 $390 36 4158 THORNSIDE $395 8 $395 8 4159 BIRKDALE/ AQUATIC PARADISE/ MERIDIAN PT $370 25 $400 29 4160 ORMISTON/ WELLINGTON PT/ EROBIN $410 34 $385 28 4161 ALEXANDRA HILLS/ BURWOOD HTS $390 38 $395 54 4163 CLEVELAND/ RABY BAY $420 31 $400 28 4164 THORNLANDS/ PINKLANDS $420 17 $420 7 4165 MT COTTON/ PT HALLORAN/ PT $400 TALBURPIN/ REDLAND BAY/ VICTORIA PT 43 $400 49 4183 AMITY PT/ DUNWICH/ PT LOOKOUT $350 9 $330 5 4184 COOCHIEMUDLO IS/ KARRAGARRA IS/ LAMB IS/ MACLEAY IS/ PEEL IS/ $250 70 $250 59 RUSSELL IS LOCKYER VALLEY REGIONAL $290 88 $280 96 4341 BLENHEIM $285 31 $275 46 4342 CROWLEY VALE $280 17 $290 37 4343 ADARE $300 36 $270 5 SOMERSET REGIONAL $285 62 $270 67 4311 ATKINSONS DAM $300 29 $280 33 4312 BRYDEN $260 10 $260 12 4313 BIARRA $230 8 $240 11 4515 GLENFERN $285 15 $310 11 336 282 203 BRISBANE SURROUNDS UNIT S 448 393 266 431 286 147 120 88 60 <$250k $250K+ $350K+ $500k+ $1M+ 11 11 6 18 QUEENSLAND MARKET MONITOR

BRISBANE MARKET UPDATES RENTAL MARKET - 2 BED UNITS POST MAR-16 MAR-15 CODE LOCALITY L $/WEEK NEW BONDS $/WEEK NEW BONDS IPSWICH CITY $260 187 $260 166 4300 GOODNA/ BELLBIRD PK/ CAMIRA/ SPRINGFIELD $270 39 $260 34 4301 REDBANK/ REDBANK PLNS/ COLLINGWOOD PK $265 40 $275 31 4304 BOOVAL/ BLACKSTONE/ BUNDAMBA/ EBBW VALE/ SILKSTONE $250 21 $255 22 IPSWICH/ BRASSALL/ BREMER/ 4305 CHURCHILL/ FLINDERS VIEW/ LEICHARDT/ $260 77 $255 74 RACEVIEW/ TIVOLI/ YAMANTO ETC 4306 AMBERLEY/ FERNVALE/ KARANA DOWNS/ MT CROSBY/ PEAK CROSSING/ $265 8 N/A 3 SWANBANK/ WILLOWBANK ETC LOGAN CITY $270 207 $270 218 4114 KINGSTON/ LOGAN CITY/ TRINDER PK/ WOODRIDGE $255 76 $270 84 4123 PRIESTS GULLY/ ROCHEDALE $295 7 $300 11 4127 CHATSWOOD HILLS/ DAISY HILL/ $330 PREISTDALE/ SLACKS CK/ SPRINGWOOD 20 $300 26 4128 KIMBERLEY PK/ LOGAN HYPERDOME/ SHAILER PK/ TANAH MERAH $300 5 $290 5 4131 LOGANLEA/ MEADOWBROOK $290 13 N/A N/A 4132 CRESTMEAD/ MARSDEN $300 9 N/A 3 4133 CHAMBERS FLAT/ LOGAN RESERVE/ WATERFORD $265 13 $295 12 4207 BEENLEIGH/ EAGLBY/ MT WARREN PK $260 53 $260 63 MORETON BAY REGIONAL $285 432 $280 431 REDCLIFFE REGION $290 157 $290 152 4019 CLONTARF/ HUMPYBONG/ MARGATE/ SCOTTS PT/ WOODY PT $275 74 $285 68 4020 REDCLIFFE/ SCARBOROUGH/ NEWPORT WATERS/ SUTTONS BCH $300 78 $305 79 PINE RIVERS REGION $295 113 $290 101 4500 BRAY PK/ BRENDALE/ CASHMERE/ CLEAR MOUNTAIN/ JOYNER/ $300 24 $300 25 STRATHPINE/ WARNER 4501 LAWNTON $280 5 $290 10 4502 FRENCHS FOREST/ PETRIE $285 5 $280 5 4503 DAKABIN/ DOHLES ROCKS/ GRIFFIN/ KALLANGUR/ KURWONGBAH $280 40 $280 41 4509 MANGO HILL $330 35 $320 15 CABOOLTURE REGION $270 162 $260 178 4505 BURPENGARY $275 11 $290 9 4506 MORAYFIELD/ MOORINA $270 23 $265 16 4507 BANKSIA BEACH/ BELLARA/ BONGAREE/ $280 BRIBIE IS/ WOORIM 31 $265 44 4508 DECEPTION BAY $285 9 $270 16 4510 CABOOLTURE/ BEACHMERE/ DONNYBROOK/ BALINGOOL/ BELLMERE/ MELEDALE/ $260 87 $260 89 MOODLU/ ROCKSBERG/ TOORBUL REDLAND CITY $350 65 $325 62 4157 CAPALABA/ SHELDON $340 14 $180 12 4160 ORMISTON/ WELLINGTON PT/ EROBIN $245 5 $325 5 4163 CLEVELAND/ RABY BAY $365 33 $350 30 LOCKYER VALLEY REGIONAL $225 18 $230 15 4343 ADARE $225 16 $235 13 1,266 924 413 BRISBANE SURROUNDS LAND S 461 331 192 70 35 46 37 45 17 RENTAL MARKET - 3 BED TOWNHOUSES POST MAR-16 MAR-15 CODE LOCALITY L $/WEEK NEW BONDS $/WEEK NEW BONDS IPSWICH CITY $320 193 $315 113 4300 GOODNA/ BELLBIRD PK/ CAMIRA/ SPRINGFIELD $345 76 $340 32 4301 REDBANK/ REDBANK PLNS/ COLLINGWOOD PK $320 32 $310 17 4304 BOOVAL/ BLACKSTONE/ BUNDAMBA/ EBBW VALE/ SILKSTONE $305 58 $310 35 IPSWICH/ BRASSALL/ BREMER/ 4305 CHURCHILL/ FLINDERS VIEW/ LEICHARDT/ $300 27 $300 29 RACEVIEW/ TIVOLI/ YAMANTO ETC LOGAN CITY $340 363 $330 444 4114 KINGSTON/ LOGAN CITY/ TRINDER PK/ WOODRIDGE $310 37 $315 51 BROWNS PLAINS/BROWNSLEIGH/ 4118 FORESTDALE/ HERITAGE PK/ HILLCREST/ $350 53 $350 61 REGENTS PK 4119 UNDERWOOD $350 12 $410 9 4123 PRIESTS GULLY/ ROCHEDALE $330 5 $365 13 4124 BORONIA HTS/ GREENBANK/ NEW BEITH $345 6 N/A 2 4127 CHATSWOOD HILLS/ DAISY HILL/ PREISTDALE/ SLACKS CK/ SPRINGWOOD $330 36 $325 44 4128 KIMBERLEY PK/ LOGAN HYPERDOME/ SHAILER PK/ TANAH MERAH $365 14 $340 12 4131 LOGANLEA/ MEADOWBROOK $350 24 $340 33 4132 CRESTMEAD/ MARSDEN $340 55 $340 68 4133 CHAMBERS FLAT/ LOGAN RESERVE/ WATERFORD $330 18 $325 28 4205 BETHANIA $345 12 $340 16 4207 BEENLEIGH/EAGLBY/ MT WARREN PK $330 86 $320 98 MORETON BAY REGIONAL $345 627 $340 618 CABOOLTURE REGION $315 145 $310 139 4504 NARANGBA $350 7 $350 7 4505 BURPENGARY $315 26 $310 25 4506 MORAYFIELD/ MOORINA $310 9 $300 17 4507 BANKSIA BEACH/ BELLARA/ BONGAREE/ BRIBIE IS/ WOORIM $345 6 $300 10 4508 DECEPTION BAY $310 63 $310 53 CABOOLTURE/ BEACHMERE/ DONNYBROOK/ 4510 BALINGOOL/ BELLMERE/ MELEDALE/ $300 20 $300 27 MOODLU/ ROCKSBERG/ TOORBUL 4511 GODWIN BEACH/ NINGI/ SANDSTONE PT/ $350 TOORBUL PT 13 PINE RIVERS REGION $350 411 $345 410 4035 ALBANY CK/ BRIDGEMAN DOWNS/ CASHS CROSSING $390 36 $380 36 BRAY PK/ BRENDALE/ CASHMERE/ 4500 CLEAR MOUNTAIN/ JOYNER/ $355 74 $350 51 STRATHPINE/ WARNER 4501 LAWNTON $350 19 $335 11 4502 FRENCHS FOREST/ PETRIE $335 13 $345 34 4503 DAKABIN/ DOHLES ROCKS/ GRIFFIN/ KALLANGUR/ KURWONGBAH $340 168 $340 197 4509 MANGO HILL $355 100 $355 79 REDCLIFFE REGION $335 71 $340 69 4019 CLONTARF/ HUMPYBONG/ MARGATE/ SCOTTS PT/ WOODY PT $355 9 $350 10 4020 REDCLIFFE/ SCARBOROUGH/ NEWPORT WATERS/ SUTTONS BCH $370 15 $350 15 4021 KIPPA-RING $330 45 $325 41 REDLAND CITY $395 164 $395 114 4157 CAPALABA/ SHELDON $390 12 $365 13 4158 THORNSIDE $380 12 $380 17 4160 ORMISTON/ WELLINGTON PT/ EROBIN $435 43 $385 20 4163 CLEVELAND/ RABY BAY $395 41 $420 34 4164 THORNLANDS/ PINKLANDS $395 37 N/A 3 4165 MT COTTON/ PT HALLORAN/ PT TALBURPIN/ REDLAND BAY/ VICTORIA PT $390 13 $390 14 <$250k $250K+ $350K+ $500k+ MARCH QUARTER 2016 19

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 2016. 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

REGIONAL MARKET UPDATES S MARKET - HOUSES S MARKET - UNITS & TOWNHOUSES S S GOLD COAST (LGA) 1452 $557,500 0.5% $550,000 5.8% 10.2% $499,000 GOLD COAST (LGA) ^ 138 $723,750-0.9% $730,000 5.0% 5.0% $695,000 ARUNDEL 36 $535,000 3.4% $530,000 6.0% 14.0% $465,000 ASHMORE 43 $535,500-4.7% $525,000 6.4% 14.1% $460,000 BENOWA 26 $728,500 6.4% $765,000 2.0% 2.0% $750,000 BIGGERA WATERS 16 N/A N/A $651,000 11.3% 44.7% $450,000 BONOGIN ^ 12 N/A N/A $695,000 7.9% 2.2% $680,000 BROADBEACH WATERS 41 $950,000-2.6% $857,000 0.9% 13.5% $755,000 BUNDALL 16 N/A N/A $927,500 18.8% -3.0% $956,000 BURLEIGH HEADS 24 $800,000 21.2% $703,950 13.2% 21.4% $580,000 BURLEIGH WATERS 43 $660,500-2.0% $688,194 13.8% 25.1% $550,000 CARRARA 28 $535,000 11.3% $503,500 10.1% 17.1% $430,000 CLEAR ISLAND WATERS 14 N/A N/A $1,000,000 17.7% 33.0% $752,000 COOLANGATTA 6 N/A N/A $762,000 3.0% 26.5% $602,500 COOMBABAH 29 $425,000-6.6% $437,182 1.7% 2.9% $425,000 COOMERA 24 $414,500-7.1% $447,000 12.5% 11.8% $400,000 CURRUMBIN 8 N/A N/A $780,000-15.3% 30.0% $600,000 CURRUMBIN VALLEY ^ 4 N/A N/A $768,000-11.7% 2.1% $752,500 CURRUMBIN WATERS 29 $532,500-8.2% $570,000 9.6% 16.3% $490,000 ELANORA 38 $600,250 4.2% $573,500 7.2% 9.2% $525,000 GILSTON 8 N/A N/A $540,000 12.2% 5.9% $510,000 HELENSVALE 59 $577,250 3.5% $550,000 10.0% 12.2% $490,000 HIGHLAND PARK 22 $477,500-2.6% $477,500 13.7% 11.4% $428,750 HOLLYWELL 23 $610,000 16.5% $617,500 0.4% 10.3% $560,000 HOPE ISLAND 28 $652,500 7.0% $630,000 17.8% 8.2% $582,500 JACOBS WELL 5 N/A N/A $420,000 5.0% -0.9% $424,000 LABRADOR 25 $485,250-1.0% $480,000 7.9% 12.9% $425,000 LOWER BEECHMONT 3 N/A N/A $365,250-3.9% -8.1% $397,500 MAUDSLAND 7 N/A N/A $466,000 1.1% 1.3% $460,000 MERMAID BEACH 7 N/A N/A $1,225,000 23.1% 8.2% $1,132,500 MERMAID WATERS 32 $720,000-5.3% $760,000 5.9% 23.6% $615,000 MERRIMAC 15 N/A N/A $467,500 5.1% 12.7% $415,000 MIAMI 12 N/A N/A $648,000 10.4% 21.1% $535,000 MOLENDINAR 11 N/A N/A $560,000 7.7% 11.2% $503,495 MUDGEERABA 36 $515,000 1.0% $504,999 2.0% 9.4% $461,500 MUDGEERABA ^ 5 N/A N/A $700,500 8.7% 2.6% $682,500 NERANG 63 $399,000-5.1% $402,500 5.8% 7.9% $373,000 NERANG ^ 5 N/A N/A $790,000 9.7% 5.3% $750,000 ORMEAU 58 $450,000-2.2% $445,000 3.5% 1.1% $440,000 ORMEAU HILLS 19 N/A N/A $485,000 6.1% 3.2% $470,000 OXENFORD 43 $463,750-1.9% $463,000 3.9% 2.3% $452,500 PACIFIC PINES 57 $527,500 6.6% $486,500 4.6% 5.8% $460,000 PALM BEACH 48 $695,500 5.1% $675,000 12.5% 23.9% $545,000 PARADISE POINT 21 $900,000-8.2% $900,000 5.9% 8.1% $832,500 PARKWOOD 25 $540,000-0.9% $540,000 7.5% 12.2% $481,250 PIMPAMA 14 N/A N/A $430,000 0.1% 11.4% $386,000 REEDY CREEK 16 N/A N/A $707,500 11.4% 10.8% $638,750 ROBINA 72 $625,000 0.0% $616,500 8.2% 14.6% $538,000 RUNAWAY BAY 29 $1,040,000 6.1% $937,500 9.0% 21.8% $770,000 SOUTHPORT 55 $555,000 3.0% $530,000 11.6% 14.0% $465,000 SURFERS PARADISE 22 $1,392,500 4.7% $1,250,000 5.3% -2.0% $1,275,000 TALLAI ^ 9 N/A N/A $850,000 12.6% 14.1% $745,000 TALLEBUDGERA ^ 8 N/A N/A $807,500 15.8% 5.2% $767,500 TALLEBUDGERA VALLEY ^ 8 N/A N/A $750,000-0.7% 2.0% $735,000 TUGUN 16 N/A N/A $520,000 6.3% 16.9% $445,000 UPPER COOMERA 127 $457,500 4.5% $437,000 5.3% 5.4% $414,500 VARSITY LAKES 34 $592,500 6.8% $551,000 7.3% 14.8% $480,000 WONGAWALLAN ^ 9 N/A N/A $628,000-16.3% -2.6% $645,000 WORONGARY 9 N/A N/A $425,000 3.8% 4.9% $405,000 WORONGARY ^ 7 N/A N/A $730,000 7.4% 16.8% $625,000 GOLD COAST (LGA) 1936 $375,000-0.3% $372,000 1.9% -0.8% $375,000 ARUNDEL 11 N/A N/A $321,000 3.6% -1.2% $325,000 ASHMORE 16 N/A N/A $304,000 7.5% -1.9% $310,000 BENOWA 17 N/A N/A $537,000-18.0% 9.6% $490,000 BIGGERA WATERS 69 $350,000-24.0% $427,000 3.5% 23.8% $345,000 BILINGA 10 N/A N/A $480,000 17.1% -9.9% $532,500 BROADBEACH 105 $440,000-1.8% $438,250-4.7% -8.2% $477,500 BROADBEACH WATERS 15 N/A N/A $445,000 15.6% 9.9% $404,750 BUNDALL 4 N/A N/A $320,000-4.7% -3.0% $330,000 BURLEIGH HEADS 74 $416,000 8.1% $410,000 1.2% 6.1% $386,250 BURLEIGH WATERS 34 $385,000 4.9% $375,000 7.3% 6.7% $351,500 CARRARA 47 $355,000-7.8% $407,500-6.3% -4.1% $425,000 CLEAR ISLAND WATERS 7 N/A N/A $440,000 4.8% -9.7% $487,500 COOLANGATTA 55 $640,000 32.0% $470,000 13.4% 5.0% $447,500 COOMBABAH 31 $338,000-2.2% $332,500 0.8% -2.2% $340,000 COOMERA 56 $454,000 25.5% $352,550 0.9% 12.7% $312,950 CURRUMBIN 16 N/A N/A $467,000 14.2% 19.3% $391,500 CURRUMBIN WATERS 18 N/A N/A $342,000 3.6% 4.6% $327,000 ELANORA 24 $338,500-14.7% $342,500 11.8% 1.9% $336,000 HELENSVALE 33 $397,500-3.1% $410,000 9.9% 0.0% $410,000 HIGHLAND PARK 13 N/A N/A $275,000 6.8% -6.5% $294,250 HOLLYWELL 4 N/A N/A $655,500 5.7% -48.1% $1,262,500 HOPE ISLAND 94 $615,000 8.2% $590,000 25.8% 38.8% $425,000 LABRADOR 103 $330,000-0.9% $322,000-5.3% 1.9% $316,000 MAIN BEACH 24 $580,000-19.3% $630,000 13.5% 4.1% $605,000 MERMAID BEACH 65 $355,000 7.6% $350,000-4.8% -5.4% $370,000 MERMAID WATERS 29 $369,500 1.9% $369,000 15.5% 15.3% $320,000 MERRIMAC 20 $320,000-9.9% $327,500-3.7% -22.4% $422,000 MIAMI 28 $404,250-2.7% $405,000 9.5% 10.2% $367,500 MUDGEERABA 19 N/A N/A $321,250-4.1% -4.1% $335,000 NERANG 41 $311,000-0.6% $300,000 0.3% -1.6% $305,000 ORMEAU 8 N/A N/A $350,000 1.5% -5.4% $370,000 OXENFORD 13 N/A N/A $292,500 0.9% 0.9% $290,000 PACIFIC PINES 16 N/A N/A $342,500-2.7% -9.5% $378,500 PALM BEACH 72 $360,000 3.5% $350,000 2.8% -5.4% $370,000 PARADISE POINT 20 $537,000-16.1% $620,000 1.2% 22.2% $507,500 PARKWOOD 11 N/A N/A $320,000 8.5% 1.6% $315,000 PIMPAMA 8 N/A N/A $346,250 1.8% -5.4% $365,900 REEDY CREEK 33 $310,500 3.7% $307,000 4.1% -4.8% $322,500 ROBINA 59 $412,000 3.0% $422,000-6.0% -9.2% $465,000 RUNAWAY BAY 45 $409,000-18.2% $462,500 18.9% 30.8% $353,500 SOUTHPORT 141 $340,000-2.9% $344,500 4.4% 1.3% $340,000 SURFERS PARADISE 279 $365,000 7.0% $349,500 1.3% -9.2% $385,000 TUGUN 27 $396,500 10.1% $395,000 6.2% -4.1% $412,000 UPPER COOMERA 24 $330,750-1.3% $330,000 7.1% -4.9% $347,000 VARSITY LAKES 57 $410,000 1.4% $405,000 4.4% 1.8% $398,000 MARCH QUARTER 2016 21

REGIONAL MARKET UPDATES S MARKET - VACANT LAND S RENTAL MARKET - 3 BED HOUSES GOLD COAST (LGA) 123 $239,900 0.0% $240,000 4.4% 0.7% $238,261 GOLD COAST (LGA) ^ 22 $357,500-5.9% $390,000 9.9% -9.3% $430,000 COOMERA 19 N/A N/A $238,500 3.0% 13.8% $209,500 ELANORA 0 N/A N/A $290,000-9.5% -7.9% $315,000 GILSTON 2 N/A N/A $285,000 8.8% 14.0% $250,000 HELENSVALE 4 N/A N/A $500,000-8.9% -9.1% $550,000 HOPE ISLAND 0 N/A N/A $481,250 31.9% 37.5% $350,000 MAUDSLAND 0 N/A N/A $235,000 2.4% -9.6% $260,000 ORMEAU 5 N/A N/A $235,000 4.7% -10.6% $263,000 ORMEAU HILLS 2 N/A N/A $219,875 1.6% -0.1% $220,050 PACIFIC PINES 2 N/A N/A $223,800-2.6% -4.9% $235,350 PIMPAMA 61 $235,000-2.1% $240,000 6.7% 9.1% $219,950 REEDY CREEK 6 N/A N/A $355,000 9.4% 5.4% $336,738 UPPER COOMERA 8 N/A N/A $239,937 4.4% 0.2% $239,500 WILLOW VALE 3 N/A N/A $217,900 3.3% N/A N/A POST MAR-16 MAR-15 CODE LOCALITY L $/WEEK NEW BONDS $/WEEK NEW BONDS GOLD COAST CITY $460 849 $440 945 4208 GILBERTON/ JACOBS WELL/ ORMEAU $400 14 $400 14 4209 CANOWINDRA/ COOMERA/ PIMPAMA/ WILLOW VALE/ YAWALPAH $395 103 $390 98 4210 OXENFORD/ STUDIO VILLAGE/ WONGAWALLAN $420 13 $395 21 4211 ADVANCETOWN/ BEECHMONT/ BINNA BURRA/CARRARA/ GAVEN/ NERANG $410 105 $400 124 4212 BOYKAMBIL/ HELENSVALE/ HOPE ISLAND/ SANCTUARY COVE $460 47 $500 56 4213 AUSTINVILLE/ MUDGEERABA/ SPRINGBROOK/ TALLAI/ WORONGARY $490 42 $450 43 4214 ARUNDEL/ ASHMORE/ ERNEST/ PARKWOOD $450 67 $430 88 4215 CHIRN PK/ SOUTHPORT/ LABRADOR/ KEEBRA PK $450 97 $420 93 4216 BIGGERA WTRS/ COOMBABAH/ $450 HOLLYWELL/ PARADISE PT/ RUNAWAY BAY 55 $450 75 4217 BENOWA/ BUNDALL/ MAIN BCH/ SORRENTO/ SURFERS PARADISE $550 50 $560 35 4218 BROADBEACH/ MERMAID BCH/ NOBBY BCH/ RIALTO $595 43 $550 61 4220 ANDREWS/ BURLEIGH/ MIAMI/ TALLY VALLEY $490 51 $480 56 4221 ELANORA/PALM BCH $545 44 $490 52 4223 CURRUMBIN/ CURRUMBIN VALLEY $480 18 $450 30 4224 TUGUN $485 10 N.A. 4 4226 KERRYDALE/ MERRIMAC/ ROBINA $490 52 $470 58 4227 REEDY CK/ STEPHENS/ VARSITY LAKES $490 34 $460 29 SCENIC RIM REGIONAL $350 134 $300 116 4270 TAMBORINE/ BIDDADDABA/ BOYLAND/ MUNDOOLUN/ WONGLEPONG $400 8 N/A 4 4272 MT TAMBORINE $420 38 $420 14 4285 BEAUDESERT/ CEDAR VALE/ INNISPLAIN/ $310 KOORALBYN/ LAMINGTON/ ETC 44 $305 50 4309 ARATULA/ KALBAR $285 7 $270 14 4310 BOONAH/ DUGANDEN/ MT ALFORD $280 23 $270 21 RENTAL MARKET - 2 BED UNITS POST MAR-16 MAR-15 CODE LOCALITY L $/WEEK NEW BONDS $/WEEK NEW BONDS GOLD COAST CITY $395 2340 $370 2395 4209 CANOWINDRA/ COOMERA/ PIMPAMA/ WILLOW VALE/ YAWALPAH $305 8 $310 6 4210 OXENFORD/ STUDIO VILLAGE/ WONGAWALLAN $305 17 $315 18 4211 ADVANCETOWN/ BEECHMONT/ BINNA BURRA/ CARRARA/ GAVEN/ NERANG $320 46 $335 41 4212 BOYKAMBIL/ HELENSVALE/ HOPE ISLAND/ SANCTUARY COVE $420 40 $400 50 4214 ARUNDEL/ ASHMORE/ ERNEST/ PARKWOOD $330 15 $300 17 4215 CHIRN PK/ SOUTHPORT/ LABRADOR/ KEEBRA PK $370 560 $355 532 4216 BIGGERA WTRS/ COOMBABAH/ $410 HOLLYWELL/ PARADISE PT/ RUNAWAY BAY 237 $360 207 4217 BENOWA/ BUNDALL/ MAIN BCH/ SORRENTO/ SURFERS PARADISE $450 527 $420 545 4218 BROADBEACH/ MERMAID BCH/ NOBBY BCH/ RIALTO $400 263 $380 304 4220 ANDREWS/ BURLEIGH/ MIAMI/ TALLY VALLEY $400 171 $385 180 4221 ELANORA/ PALM BCH $350 121 $330 114 4223 CURRUMBIN/ CURRUMBIN VALLEY $395 31 $380 35 4224 TUGUN $355 35 $350 41 4225 BILINGA/ COOLANGATTA/ GREENMOUNT/ $370 KIRRA/ RAINBOW BAY 103 $350 95 4226 KERRYDALE/ MERRIMAC/ ROBINA $425 49 $415 62 4227 REEDY CK/ STEPHENS/ VARSITY LAKES $300 111 $370 142 SCENIC RIM REGIONAL $250 28 $220 27 4285 BEAUDESERT/ CEDAR VALE/ INNISPLAIN/ $235 KOORALBYN/ LAMINGTON/ ETC 24 $210 23 RENTAL MARKET - 3 BED TOWNHOUSES POST MAR-16 MAR-15 CODE LOCALITY L $/WEEK NEW BONDS $/WEEK NEW BONDS GOLD COAST CITY $405 1035 $390 1061 4208 GILBERTON/ JACOBS WELL/ ORMEAU $390 9 $370 9 4209 CANOWINDRA/ COOMERA/ PIMPAMA/ WILLOW VALE/ YAWALPAH $375 163 $360 160 4210 OXENFORD/ STUDIO VILLAGE/ WONGAWALLAN $360 7 $395 17 4211 ADVANCETOWN/ BEECHMONT/ BINNA BURRA/ CARRARA/ GAVEN/ NERANG $395 164 $370 172 4212 BOYKAMBIL/ HELENSVALE/ HOPE ISLAND/ SANCTUARY COVE $460 59 $430 31 4213 AUSTINVILLE/ MUDGEERABA/ SPRINGBROOK/ TALLAI/ WORONGARY $390 31 $370 32 4214 ARUNDEL/ ASHMORE/ ERNEST/ PARKWOOD $390 36 $380 51 4215 CHIRN PK/ SOUTHPORT/ LABRADOR/ KEEBRA PK $420 104 $400 112 4216 BIGGERA WTRS/ COOMBABAH/ HOLLYWELL/ PARADISE PT/ RUNAWAY BAY $390 83 $400 78 4217 BENOWA/ BUNDALL/ MAIN BCH/ SORRENTO/ SURFERS PARADISE $460 46 $440 43 4218 BROADBEACH/ MERMAID BCH/ NOBBY BCH/ RIALTO $480 27 $425 28 4220 ANDREWS/ BURLEIGH/ MIAMI/ TALLY VALLEY $470 21 $410 38 4221 ELANORA/ PALM BCH $420 34 $400 22 4223 CURRUMBIN/ CURRUMBIN VALLEY $440 11 $410 13 4224 TUGUN $440 16 $440 16 4226 KERRYDALE/ MERRIMAC/ ROBINA $465 149 $440 162 4227 REEDY CK/ STEPHENS/ VARSITY LAKES $450 72 $430 72 GOLD COAST HOUSE S TOOWOOMBA HOUSE S GOLD COAST UNIT S 750 588 471 1,064 985 739 307 272 252 1,002 242 913 843 192 831 715 162 630 590 580 37 30 41 198 176 141 411 322 189 431 82 85 163 146 103 46 <$350K $350K+ $500k+ $1M+ Houses<2,400m <$250k <$350K $250K+ $350K+ $350K+ $500k+ $1M+ $500k+ Houses<2,400m 22 QUEENSLAND MARKET MONITOR

REGIONAL MARKET UPDATES GOLD COAST LAND S 431 293 89 137 118 25 39 23 17 17 21 7 17 19 7 <$250k $250K+ $350K+ $500k+ $1M+ MARCH QUARTER 2016 23

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 2016. 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 2016. 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 2016. 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 35 307 Houses<2,400m 171 26 272 24 109 192 35 TOOWOOMBA HOUSE S 92 TOOWOOMBA UNIT S 62 252 50 <$250k $250K+ $350K+ $500k+ TOOWOOMBA LAND S 8 242 <$350K $350K+ $500k+ 8 3 3 5 <$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 2016. 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 2016. Other types of properties showed stable weekly median rents or a small reduction of about 1.2 per cent over a similar period. 162 28 27 17 82 7 85 8 46 9 8 24 QUEENSLAND MARKET MONITOR

S MARKET - HOUSES S TOOWOOMBA (LGA) 409 $352,250-1.6% $352,500 1.0% 19.5% $295,000 TOOWOOMBA (LGA) ^ 83 $490,500 1.1% $502,500 3.6% 14.2% $440,000 CENTENARY HEIGHTS 27 $377,500 2.3% $367,500 3.5% 24.2% $296,000 CROWS NEST 8 N/A N/A $240,000-5.9% 1.1% $237,500 DARLING HEIGHTS 9 N/A N/A $353,500 2.5% 16.1% $304,500 EAST TOOWOOMBA 15 N/A N/A $442,500 1.1% 20.4% $367,500 GLENVALE 20 $357,500-3.3% $360,000-4.6% 12.9% $318,750 GLENVALE ^ 4 N/A N/A $520,000-3.7% 14.0% $456,250 HARLAXTON 5 N/A N/A $280,000 0.0% 14.3% $245,000 HARRISTOWN 29 $335,000 1.2% $321,125 0.7% 21.2% $265,000 HIGHFIELDS 6 N/A N/A $459,250-7.6% 9.4% $419,900 HIGHFIELDS ^ 15 N/A N/A $525,000 0.2% 20.7% $435,000 KEARNEYS SPRING 24 $368,500-3.5% $369,000-3.5% 16.2% $317,500 KINGSTHORPE 6 N/A N/A $312,500 0.8% 25.9% $248,250 KLEINTON 3 N/A N/A $510,000 0.3% 30.4% $391,000 MERINGANDAN WEST ^ 6 N/A N/A $380,000-5.0% 14.8% $331,000 MIDDLE RIDGE 18 N/A N/A $491,250-3.2% 13.5% $433,000 MOUNT LOFTY 18 N/A N/A $465,000 8.0% 40.1% $332,000 NEWTOWN 50 $297,500-2.5% $306,750 0.6% 19.8% $256,000 NORTH TOOWOOMBA 7 N/A N/A $308,250-5.4% 19.5% $258,000 OAKEY 8 N/A N/A $235,000 2.8% 0.9% $233,000 PITTSWORTH 7 N/A N/A $285,000 1.8% 1.8% $280,000 RANGEVILLE 24 $403,000-4.6% $420,000-2.3% 14.8% $366,000 ROCKVILLE 6 N/A N/A $271,500-5.9% 5.6% $257,000 SOUTH TOOWOOMBA 20 $337,500 3.1% $341,250 5.0% 23.4% $276,500 TOOWOOMBA CITY 7 N/A N/A $350,000 4.4% 32.6% $264,000 WESTBROOK 16 N/A N/A $443,500-2.0% 10.9% $400,000 WILSONTON 19 N/A N/A $315,000-0.8% 15.5% $272,750 WILSONTON HEIGHTS 7 N/A N/A $299,000 3.1% 21.3% $246,500 WYREEMA 7 N/A N/A $347,000 3.3% 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 $300 654 $305 592 CENTENARY HEIGHTS/ DARLING HEIGHTS/ DRAYTON/ GLENVALE/ 4350 HARLAXTON/ HARRISTOWN/ KEARNEY $304 SPRINGS/ MIDDLE RIDGE/ MOUNT LOFTY/ 508 $315 458 NEWTOWN/ RANGEVILLE/ ROCKVILLE/ TOOWOOMBA/ WESTBROOK/ WILSONTON CABARLAH/ GOWRIE JUNCTION/ 4352 HAMPTON/ HIGHFIELDS/ HODGSON VALE/ KLEINTON/ MERINGANDAN, $325 33 $310 31 RAVENSBOURNE/ WITHCOTT/ WYREEMA 4355 CROWS NEST/ EMU CREEK $250 17 $260 11 4356 PITTSWORTH/ MOUNT TYSON $270 18 $290 21 4357 MILLMERRAN $250 10 $260 13 4358 CAMBOOYA, RAMSAY $290 6 N/A 3 4361 CLIFTON $260 10 $230 10 4400 KINGSTHORPE $275 5 N/A 2 4401 OAKEY 270 30 280 23 GOONDIWINDI REGIONAL $280 27 $290 43 4387 INGLEWOOD $200 5 N/A 2 4390 GOONDIWINDI $280 21 $295 37 SOUTHERN DOWNS REGIONAL $260 123 $250 147 4362 ALLORA, HENDON/ TALGAI/ BERAT/ DEUCHAR $250 7 $240 9 4370 WARWICK/ ROSENTHAL HEIGHTS, WOMINA/ FREESTONE/ MARYVALE $260 75 $255 81 STANTHORPE/ BROADWATER/ MOUNT 4380 TULLY/ SEVERNLEA/ SUGARLOAF/ $255 33 $250 41 GREENLANDS/ PIKEDALE/ EUKEY WESTERN DOWNS REGIONAL $220 142 $260 162 4405 DALBY $240 83 $260 79 4410 JANDOWAE $180 5 N/A N/A 4413 CHINCHILLA $200 36 $240 55 4415 MILES 190 7 260 8 SURROUNDS GOONDIWINDI (LGA) 14 N/A N/A $232,500-7.0% 1.1% $230,000 GOONDIWINDI 10 N/A N/A $275,500 0.2% 2.0% $270,000 SOUTHERN DOWNS (LGA) 73 $233,000-4.7% $235,000-0.6% -4.1% $245,000 SOUTHERN DOWNS (LGA) ^ ~ 35 $342,500 5.4% $337,500 0.8% 4.7% $322,500 STANTHORPE 18 N/A N/A $235,000 1.3% -6.0% $250,000 WARWICK 41 $240,000-4.8% $242,000 0.8% -1.2% $245,000 WESTERN DOWNS (LGA) 28 $230,000 18.0% $220,000-12.0% -16.7% $264,000 WESTERN DOWNS (LGA) ^ 13 N/A N/A $340,000-3.4% -2.9% $350,000 CHINCHILLA 7 N/A N/A $246,000-21.9% -16.0% $293,000 DALBY 14 N/A N/A $240,000-4.0% -7.5% $259,500 DALBY ^ 6 N/A N/A $411,750-5.3% 8.8% $378,500 S MARKET - UNITS & TOWNHOUSES TOOWOOMBA (LGA) 100 $315,000 2.4% $310,000 3.7% 26.5% $245,000 CENTENARY HEIGHTS 9 N/A N/A $329,000 24.2% 22.6% $268,250 EAST TOOWOOMBA 8 N/A N/A $341,500-4.6% 26.5% $270,000 HARRISTOWN 8 N/A N/A $237,500-0.6% 8.0% $220,000 HIGHFIELDS 1 N/A N/A $320,000 3.6% -8.6% $350,000 KEARNEYS SPRING 11 N/A N/A $314,500 6.6% 25.8% $250,000 NEWTOWN 9 N/A N/A $259,000-9.4% 17.7% $220,000 RANGEVILLE 5 N/A N/A $372,250 7.0% 29.3% $288,000 SOUTH TOOWOOMBA 15 N/A N/A $331,250 7.0% 38.0% $240,000 WILSONTON 5 N/A N/A $240,000-12.4% 13.1% $212,250 S MARKET - VACANT LAND TOOWOOMBA (LGA) 27 $169,000-1.0% $170,000 2.0% 17.2% $145,000 TOOWOOMBA (LGA) ^ 20 $221,250 27.3% $185,000-2.0% 19.4% $155,000 CRANLEY 1 N/A N/A $174,500 9.1% 22.0% $143,000 GLENVALE 4 N/A N/A $170,000-1.2% 18.9% $143,000 KEARNEYS SPRING 2 N/A N/A $181,750-12.0% 12.5% $161,500 KLEINTON 2 N/A N/A $188,500 8.3% 26.9% $148,500 MIDDLE RIDGE 2 N/A N/A $270,500-5.7% 34.2% $201,500 WESTBROOK 1 N/A N/A $167,500 4.4% 35.1% $124,000 WYREEMA 1 N/A N/A $160,000 8.8% 30.6% $122,500 SURROUNDS SOUTHERN DOWNS (LGA) 18 N/A N/A $89,000 18.7% -1.1% $90,000 RENTAL MARKET - 2 BED UNITS TOOWOMBA REGIONAL $250 493 $250 410 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 $215 5 4614 YARRAMAN $140 5 N/A 3 GOONDIWINDI REGIONAL $200 22 $200 26 4390 GOONDIWINDI $200 21 $200 26 SOUTHERN DOWNS REGIONAL $220 43 $200 66 4370 WARWICK/ ROSENTHAL HEIGHTS/ WOMINA/ FREESTONE/ MARYVALE $200 34 $220 45 4380 STANTHORPE/ BROADWATER/ MOUNT TULLY/ SEVERNLEA/ SUGARLOAF/ $230 8 $195 19 GREENLANDS/ PIKEDALE/ EUKEY WESTERN DOWNS REGIONAL $165 55 $195 65 4405 DALBY $200 23 $195 34 4413 CHINCHILLA $160 28 $195 28 RENTAL MARKET - 3 BED TOWNHOUSES TOOWOOMBA REGIONAL $330 40 $320 28 CENTENARY HEIGHTS/ DARLING HEIGHTS/ DRAYTON/ GLENVALE/ 4350 HARLAXTON/ HARRISTOWN/ KEARNEY $330 SPRINGS/ MIDDLE RIDGE/ MOUNT LOFTY/ 38 $320 28 NEWTOWN/ RANGEVILLE/ ROCKVILLE/ TOOWOOMBA/ WESTBROOK/ WILSONTON SOUTHERN DOWNS REGIONAL COUNCIL $250 10 $300 7 4370 WARWICK/ ROSENTHAL HEIGHTS/ WOMINA/ FREESTONE/ MARYVALE $250 8 N/A 3 WESTERN DOWNS REGIONAL $240 23 $230 9 4405 DALBY $230 6 N/A N/A 4413 CHINCHILLA $240 12 $230 7 MARCH QUARTER 2016 25

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 2040. 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 707 604 630 532 503 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 2015. 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 2016. 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 2016. 373 109 95 71 80 87 <$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

REGIONAL MARKET UPDATES S MARKET - HOUSES S MARKET - HOUSES (CONT D) S S SUNSHINE COAST (SD) 1025 $515,000 1.0% $507,500 4.0% 9.1% $465,000 SUNSHINE COAST (SD) ^ 204 $580,000-7.9% $607,500 6.7% 7.0% $567,500 SUNSHINE COAST (LGA) 878 $510,000 1.0% $500,000 4.2% 9.6% $456,000 SUNSHINE COAST (LGA) ^ 129 $592,500-6.8% $615,000 6.0% 10.8% $555,000 ALEXANDRA HEADLAND 2 N/A N/A $900,000 11.8% 30.7% $688,500 AROONA 13 N/A N/A $497,500 10.6% 13.1% $440,000 BATTERY HILL 14 N/A N/A $466,500 2.5% 12.4% $415,000 BEERWAH 22 $436,250 8.4% $397,750 2.0% -1.8% $405,000 BIRTINYA 4 N/A N/A $575,000 3.1% 0.9% $570,000 BLI BLI 25 $462,000-0.7% $455,000 5.8% 13.8% $400,000 BOKARINA 4 N/A N/A $593,750 5.1% 27.4% $466,000 BUDDINA 13 N/A N/A $615,000 6.0% 0.4% $612,486 BUDERIM 104 $575,000 2.8% $565,000 2.9% 8.1% $522,750 BUDERIM ^ 1 N/A N/A $886,000-5.7% -8.7% $970,000 BURNSIDE 14 N/A N/A $412,500 4.6% 7.8% $382,500 CALOUNDRA WEST 41 $469,000 6.7% $450,000 5.0% 7.8% $417,471 COES CREEK 7 N/A N/A $379,000 5.9% -3.9% $394,500 COOLUM BEACH 24 $567,500 1.6% $530,500 4.0% 15.3% $460,000 CURRIMUNDI 19 N/A N/A $470,000 4.4% 11.0% $423,250 DICKY BEACH 5 N/A N/A $771,250 12.1% 51.2% $510,000 EUMUNDI 3 N/A N/A $517,500 12.5% 45.8% $355,000 EUMUNDI ^ 2 N/A N/A $710,000 2.1% 14.5% $620,000 GLASS HOUSE MOUNTAINS 13 N/A N/A $422,500 0.0% -0.6% $425,000 GLASS HOUSE MOUNTAINS ^ 4 N/A N/A $525,000 11.1% 11.7% $470,000 GOLDEN BEACH 26 $504,000 4.5% $485,000 4.5% 7.3% $452,000 KULUIN 15 N/A N/A $445,000 14.1% 14.5% $388,500 LANDSBOROUGH 10 N/A N/A $367,500 2.9% -3.3% $380,000 LITTLE MOUNTAIN 30 $532,500 0.5% $527,250 6.8% 15.4% $457,000 MALENY 12 N/A N/A $459,000 4.3% 6.3% $432,000 MALENY ^ 6 N/A N/A $562,500-5.9% -4.0% $586,000 MARCOOLA 12 N/A N/A $530,000 6.0% 17.7% $450,170 MAROOCHYDORE 37 $547,500 3.7% $520,000 7.2% 14.9% $452,500 MERIDAN PLAINS 5 N/A N/A $429,750-4.5% 2.3% $420,000 MINYAMA 5 N/A N/A $1,000,000 35.4% 8.7% $920,000 MOFFAT BEACH 6 N/A N/A $633,500 0.6% 13.1% $560,000 MOOLOOLABA 24 $640,000-19.5% $650,000-2.3% 25.2% $519,050 MOOLOOLAH VALLEY 6 N/A N/A $423,000 11.3% 6.0% $399,000 MOOLOOLAH VALLEY ^ 4 N/A N/A $537,500-0.5% -4.4% $562,250 MOUNT COOLUM 17 N/A N/A $590,000 21.7% 22.2% $483,000 MOUNTAIN CREEK 41 $520,000-5.5% $540,000 1.9% 10.2% $490,000 MUDJIMBA 3 N/A N/A $630,000 12.5% 34.0% $470,000 NAMBOUR 43 $343,250 1.0% $350,000 2.9% 6.1% $330,000 NINDERRY ^ 4 N/A N/A $575,000-3.4% 6.5% $540,000 PACIFIC PARADISE 10 N/A N/A $405,000 1.3% 3.8% $390,000 PALMWOODS 19 N/A N/A $442,500-0.6% 1.0% $438,000 PARREARRA 13 N/A N/A $600,750 7.3% 8.0% $556,500 PELICAN WATERS 35 $667,500-3.6% $670,000 1.9% 7.6% $622,500 PEREGIAN SPRINGS 30 $550,000-7.2% $570,000 1.8% 10.7% $515,000 SIPPY DOWNS 43 $480,000 2.1% $464,500 4.6% 5.6% $440,000 TANAWHA ^ 8 N/A N/A $896,250 3.4% 27.6% $702,500 TWIN WATERS 13 N/A N/A $722,500 3.2% 7.0% $675,000 WARANA 12 N/A N/A $550,000 3.8% 22.9% $447,500 WOOMBYE 9 N/A N/A $435,000 9.4% 4.8% $415,000 WURTULLA 18 N/A N/A $535,000 11.5% 15.7% $462,500 YANDINA 5 N/A N/A $375,000 0.0% -1.3% $380,000 YAROOMBA 4 N/A N/A $561,050-3.3% 12.2% $500,000 POMONA 5 N/A N/A $385,000 8.5% -1.0% $389,000 POMONA ^ 6 N/A N/A $495,000 2.1% -8.8% $542,750 SUNRISE BEACH 4 N/A N/A $645,500 8.5% 12.7% $573,000 SUNSHINE BEACH 9 N/A N/A $950,000-8.7% 14.5% $830,000 TEWANTIN 47 $475,000 7.0% $460,000 2.2% 2.2% $450,000 S MARKET - UNITS & TOWNHOUSES SUNSHINE COAST (SD) 701 $385,000 0.7% $380,000 5.6% 2.7% $370,000 SUNSHINE COAST (LGA) 556 $370,000-0.5% $370,000 3.7% 2.8% $360,000 ALEXANDRA HEADLAND 22 $290,000-33.9% $346,500 5.0% 6.1% $326,500 BATTERY HILL 8 N/A N/A $258,500 2.2% 5.5% $245,000 BIRTINYA 4 N/A N/A $422,500-4.5% -16.3% $505,000 BUDDINA 4 N/A N/A $440,000 3.5% 12.7% $390,250 BUDERIM 30 $361,000-8.6% $390,000 4.9% -1.3% $395,250 CALOUNDRA 34 $357,000-4.8% $381,000-2.3% -8.9% $418,000 CALOUNDRA WEST 8 N/A N/A $367,500 20.5% 13.1% $325,000 COOLUM BEACH 24 $356,500-7.0% $360,000 1.4% -9.0% $395,500 CURRIMUNDI 8 N/A N/A $379,000 3.8% 6.8% $355,000 GOLDEN BEACH 24 $465,000 18.0% $408,000 20.0% 19.1% $342,500 KINGS BEACH 35 $364,000-4.2% $380,000 0.5% -10.0% $422,000 LITTLE MOUNTAIN 2 N/A N/A $308,000-21.0% 1.0% $305,000 MARCOOLA 21 $336,000 10.2% $310,000-2.4% -10.5% $346,250 MAROOCHYDORE 94 $377,500 9.9% $355,000-3.5% -4.3% $371,000 MINYAMA 10 N/A N/A $345,500 15.2% 19.1% $290,000 MOFFAT BEACH 6 N/A N/A $475,000-5.0% 36.3% $348,500 MOOLOOLABA 65 $337,500-10.0% $358,500-3.1% -3.5% $371,500 MOUNT COOLUM 13 N/A N/A $327,500-7.8% -5.1% $345,000 MOUNTAIN CREEK 16 N/A N/A $375,000 0.1% 45.1% $258,500 NAMBOUR 23 $311,000 18.5% $250,000 2.0% -7.1% $269,250 PARREARRA 13 N/A N/A $440,000 3.5% -18.5% $540,000 PELICAN WATERS 8 N/A N/A $490,625 5.5% 4.4% $470,000 PEREGIAN SPRINGS 12 N/A N/A $297,500 11.8% 12.3% $265,000 TWIN WATERS 8 N/A N/A $520,000 9.0% 4.0% $500,000 WARANA 15 N/A N/A $365,000 14.6% 21.7% $300,000 WURTULLA 3 N/A N/A $379,000 5.6% 26.3% $300,000 SURROUNDS NOOSA (LGA) 145 $450,000-2.2% $440,000 11.7% 1.1% $435,000 COOROY 2 N/A N/A $319,000-4.4% -9.5% $352,500 NOOSA HEADS 51 $705,000 19.8% $581,000 39.2% -5.1% $612,500 NOOSAVILLE 42 $413,500 5.7% $415,000 11.9% 15.3% $360,000 PEREGIAN BEACH 15 N/A N/A $400,000 8.1% 14.3% $350,000 SUNRISE BEACH 9 N/A N/A $373,500 7.6% -6.6% $400,000 SUNSHINE BEACH 14 N/A N/A $537,500 4.2% -19.3% $665,750 TEWANTIN 9 N/A N/A $300,000 6.4% 7.1% $280,000 SUNSHINE COAST & NOOSA UNIT S 330 288 271 283 228 233 211 189 159 125 103 80 42 45 28 <$250k $250K+ $350K+ $500k+ $1M+ SURROUNDS NOOSA (LGA) 147 $547,500-2.6% $550,000-1.8% 0.7% $546,000 NOOSA (LGA) ^ 75 $565,000-8.0% $590,500 7.4% 0.5% $587,500 BLACK MOUNTAIN ^ 9 N/A N/A $567,500 8.6% 5.6% $537,500 COORAN ^ 4 N/A N/A $480,000 27.7% 14.8% $418,000 COOROIBAH ^ 6 N/A N/A $597,500 10.1% 4.3% $572,625 COOROY 10 N/A N/A $435,000 2.4% 1.6% $428,000 DOONAN ^ 14 N/A N/A $685,000 8.7% -12.1% $779,000 NOOSA HEADS 12 N/A N/A $745,000 8.0% 16.4% $640,000 NOOSAVILLE 39 $823,000 8.3% $770,000-0.7% 6.9% $720,000 PEREGIAN BEACH 7 N/A N/A $735,000 16.7% 16.2% $632,500 SUNSHINE COAST & NOOSA LAND S 213 196 147 113 76 65 51 48 24 30 22 8 6 12 2 <$250k $250K+ $350K+ $500k+ $1M+ MARCH QUARTER 2016 27

REGIONAL MARKET UPDATES S MARKET - VACANT LAND S SUNSHINE COAST (SD) 133 $242,000-9.2% $256,000 4.5% -0.8% $258,000 SUNSHINE COAST (SD) ^ 28 $330,000-1.5% $320,000 4.9% 0.0% $320,000 SUNSHINE COAST (LGA) 115 $230,000-11.5% $251,000 2.7% -0.8% $253,000 SUNSHINE COAST (LGA) ^ 26 $330,000-1.5% $320,000 3.2% 0.8% $317,500 BEERWAH 24 $218,500 1.6% $215,000 2.9% 14.5% $187,750 BIRTINYA 0 N/A N/A $298,500 8.6% -8.8% $327,250 BLI BLI 9 N/A N/A $260,500 4.6% 8.8% $239,500 CALOUNDRA WEST 2 N/A N/A $230,500 9.8% -20.5% $290,000 FOREST GLEN 2 N/A N/A $259,000 3.6% -1.7% $263,375 GLASS HOUSE MOUNTAINS 4 N/A N/A $198,000 1.5% -2.2% $202,500 LITTLE MOUNTAIN 0 N/A N/A $256,250 7.7% 1.7% $252,000 MALENY 2 N/A N/A $244,950 8.9% 16.6% $210,000 MAROOCHYDORE 6 N/A N/A $245,000-0.2% 8.1% $226,575 MERIDAN PLAINS 4 N/A N/A $244,900 6.0% -6.7% $262,450 MOUNTAIN CREEK 5 N/A N/A $299,000 12.0% 12.8% $265,000 NAMBOUR 1 N/A N/A $184,000 6.7% -1.9% $187,500 PALMVIEW ^ 4 N/A N/A $320,000 3.2% N/A N/A PELICAN WATERS 18 N/A N/A $269,000-24.2% -23.1% $350,000 PEREGIAN SPRINGS 1 N/A N/A $375,000 31.6% 53.1% $245,000 SIPPY DOWNS 5 N/A N/A $195,000-2.0% -16.5% $233,625 YAROOMBA 2 N/A N/A $322,500-10.4% -5.1% $340,000 SURROUNDS NOOSA (LGA) 18 N/A N/A $320,000 16.4% 2.2% $313,110 NOOSAVILLE 9 N/A N/A $334,500-1.6% 6.8% $313,110 PEREGIAN BEACH 2 N/A N/A $245,000 4.3% -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 $430 703 $420 774 4518 GLASS HOUSE MOUNTAINS $370 12 $385 11 4519 BEERWAH/ PEACHESTER $370 15 $340 26 4550 LANDSBOROUGH/ MT MELLUM $390 8 $350 11 4551 AROONA/ BATTERY HILL/ CALOUNDRA/ CURRIMUNDI/ DIAMOND HEAD/ DICKY BCH/ GOLDEN BCH/ KINGS BCH/ LITTLE $420 149 $410 160 MTN/ MERIDAN PLNS/ MOFFAT BCH/ PELICAN WATERS/ SHELLY BCH 4552 BALD KNOB/ BAROON POCKET/ BOOROOBIN/ CONONDALE/ MALENY/ $365 14 $370 24 MOUNTAIN VIEW/ REESVILLE/ WITTA 4553 GLENVIEW/ MOOLOOLAH/ MOOLOOLAH VALLEY/ PALMVIEW $380 9 $410 9 4555 CHEVALLUM/ HUNCHY/ LANDERS SHOOT/ PALMWOODS $395 7 $380 8 4556 BUDERIM/ FOREST GLEN/ KUNDA PK/ MONS/ SIPPY DOWNS/ TANAWHA $440 85 $440 82 4557 BUNDILLS/ KAWANA IS/ MOOLOOLABA/ MOUNTAIN CK $460 35 $455 49 4558 COTTON TREE/ KULUIN/ MAROOCHYDORE/ SUNSHINE PLAZA $460 48 $430 55 4560 BLI BLI/ BURNSIDE/ COES CK/ COOLOOLABIN/ DULONG/ FLAXTON/ HIGHWORTH/ IMAGE FLAT/ KIAMBA/ KULANGOOR/ KUREELPA/ MAPLETON/ $390 81 $370 80 MONTVILLE/ NAMBOUR/ PARKLANDS/ PERWILLOWEN/ ROSEMONT/ TOWEN MTN 4561 BRIDGES/ MAROOCHY RIVER/ NINDERRY/ NTH ARM/ VALDORA/ YANDINA/ YANDINA CK $400 10 $350 6 4562 BELLI PK/ DOONAN/ EERWAH VALE/ $440 EUMUNDI/ VERRIERDALE/ WEBA DOWNS 7 $430 12 4564 MARCOOLA/ MUDJIMBA/ PACIFIC PARADISE $430 28 $390 26 4572 ALEXANDRA HEADLAND $450 5 $520 6 4573 CENTENARY HEIGHTS/ COOLUM BCH/ MARCUS BCH/ MT COOLUM/ PEREGIAN 450 77 440 85 BCH/ PT ARKWRIGHT/ YAROOMBA 4575 BIRTINYA/ BOKARINA/ BUDDINA/ KAWANA WATERS/ MINYAMA/ PARREARRA/ WARANA/ WURTULLA 450 105 425 111 RENTAL MARKET - 3 BED HOUSES (CONT D) POST MAR-16 MAR-15 CODE LOCALITY L $/WEEK NEW BONDS $/WEEK NEW BONDS NOOSA SHIRE $450 114 $440 108 4563 BLACK MOUNTAIN/ CARTERS RIDGE/ COOROY/ TINBEERWAH $440 10 $390 15 4565 BOREEN PT/ COOTHARABA/ LAKE COOTHARABA/ NOOSA PARKLANDS/ $430 40 $430 36 TEEWAH/ TEWANTIN 4566 MUNNA PT/ NOOSAVILLE $550 15 $450 11 4567 CASTAWAYS BCH/ LITTLE COVE/ NOOSA $530 HEADS/ SUNRISE BCH/ SUNSHINE BCH 33 $480 31 4568 POMONA $430 5 $390 10 4569 COORAN 320 9 N/A 2 RENTAL MARKET - 2 BED UNITS SUNSHINE COAST REGIONAL $340 762 $340 880 4519 BEERWAH/ PEACHESTER $300 9 $181 6 4551 AROONA/ BATTERY HILL/ CALOUNDRA/ CURRIMUNDI/ DIAMOND HEAD/ DICKY BCH/ GOLDEN BCH/ KINGS BCH/ LITTLE $330 140 $325 153 MTN/ MERIDAN PLNS/ MOFFAT BCH/ PELICAN WATERS/ SHELLY BCH 4556 BUDERIM/ FOREST GLEN/ KUNDA PK/ MONS/ SIPPY DOWNS/ TANAWHA $340 60 $325 77 4557 BUNDILLS/ KAWANA IS/ MOOLOOLABA/ MOUNTAIN CK $340 120 $330 125 4558 COTTON TREE/ KULUIN/ MAROOCHYDORE/ SUNSHINE PLAZA $360 151 $360 174 4560 BLI BLI/ BURNSIDE/ COES CK/ COOLOOLABIN/ DULONG/ FLAXTON/ HIGHWORTH/ IMAGE FLAT/ KIAMBA/ KULANGOOR/ KUREELPA/ MAPLETON/ MONTVILLE/ NAMBOUR/ PARKLANDS/ PERWILLOWEN/ ROSEMONT/ TOWEN MTN $270 36 $250 41 4564 MARCOOLA/ MUDJIMBA/ PACIFIC PARADISE $365 33 $380 59 4572 ALEXANDRA HEADLAND $360 37 $360 46 4573 CENTENARY HEIGHTS/ COOLUM BCH/ MARCUS BCH/ MT COOLUM/ PEREGIAN $350 62 $360 70 BCH/ PT ARKWRIGHT/ YAROOMBA 4575 BIRTINYA/ BOKARINA/ BUDDINA/ KAWANA WATERS/ MINYAMA/ $395 96 $400 104 PARREARRA/ WARANA/ WURTULLA NOOSA SHIRE $390 84 $360 105 4565 BOREEN PT/ COOTHARABA/ LAKE COOTHARABA/ NOOSA PARKLANDS/ N/A 4 $300 10 TEEWAH/ TEWANTIN 4566 MUNNA PT/ NOOSAVILLE $370 36 $360 31 4567 CASTAWAYS BCH/ LITTLE COVE/ NOOSA $400 HEADS/ SUNRISE BCH/ SUNSHINE BCH 43 $365 63 RENTAL MARKET - 3 BED TOWNHOUSES SUNSHINE COAST REGIONAL $410 204 $400 236 4519 BEERWAH/ PEACHESTER $320 10 $300 13 4551 AROONA/ BATTERY HILL/ CALOUNDRA/ CURRIMUNDI/ DIAMOND HEAD/ DICKY BCH/ GOLDEN BCH/ KINGS BCH/ LITTLE $420 27 $405 46 MTN/ MERIDAN PLNS/ MOFFAT BCH/ PELICAN WATERS/ SHELLY BCH 4556 BUDERIM/ FOREST GLEN/ KUNDA PK/ MONS/ SIPPY DOWNS/ TANAWHA $405 51 $400 36 4557 BUNDILLS/ KAWANA IS/ MOOLOOLABA/ MOUNTAIN CK $430 32 $420 34 4558 COTTON TREE/ KULUIN/ MAROOCHYDORE/ SUNSHINE PLAZA $400 26 $380 34 4560 BLI BLI/ BURNSIDE/ COES CK/ COOLOOLABIN/ DULONG/ FLAXTON/ HIGHWORTH/ IMAGE FLAT/ KIAMBA/ KULANGOOR/ KUREELPA/ MAPLETON/ MONTVILLE/ NAMBOUR/ PARKLANDS/ PERWILLOWEN/ ROSEMONT/ TOWEN MTN $385 11 $380 14 4564 MARCOOLA/ MUDJIMBA/ PACIFIC PARADISE $385 14 $410 11 CENTENARY HEIGHTS/ COOLUM BCH/ 4573 MARCUS BCH/ MT COOLUM/ PEREGIAN $440 24 $440 35 BCH/ PT ARKWRIGHT/ YAROOMBA 4575 BIRTINYA/ BOKARINA/ BUDDINA/ KAWANA WATERS/ MINYAMA/ $390 6 $400 8 PARREARRA/ WARANA/ WURTULLA NOOSA SHIRE $520 21 $460 26 4566 MUNNA PT/ NOOSAVILLE $520 6 $475 13 4567 CASTAWAYS BCH/ LITTLE COVE/ NOOSA HEADS/ SUNRISE BCH/ SUNSHINE BCH $520 12 $460 11 28 QUEENSLAND MARKET MONITOR

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: jtindal@reiq.com.au MARCH QUARTER 2016 29

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 2016. 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 $350,000. 136 There is a portion of sellers having high expectations on property prices, which 58 62 is actually driving large average 42 days on market, which are now reaching 12 15 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 2005. 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 $8,000. 94 76 The unit market activity reported 59 an annual increase in 34 27 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 2016. 195 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. 56 286 150 42 302 29 <$350K $350K+ $500k+ FRASER COAST LAND S 114 214 87 FRASER COAST HOUSE S FRASER COAST UNIT S 24 27 136 <$350K $350K+ $500k+ Houses<2,400m 68 58 38 19 54 <$250k $250K+ 28 $350K+ $500k+ 17 13 7 Houses<2,400m 130 3 5 2 5 3 1 107 <$250k $250K+ $350K+ 92 95 85 96 44 62 GLADSTONE HOUSE S MACKAY HOUSE S <$350K $350K+ $500k+ Houses<2,400m 7 64 6 8 18 25 4 18 28 2 14 2 13 TOWNSVILLE HOUSE S CAIRNS & DOUGLAS HOUSE S 308 30 QUEENSLAND MARKET MONITOR 266 338 312

REGIONAL MARKET UPDATES S MARKET - HOUSES S FRASER COAST (LGA) 295 $295,000 0.0% $300,500 1.9% 0.2% $300,000 FRASER COAST (LGA) ^ 66 $382,500-0.7% $378,000 3.6% -1.6% $384,000 BOORAL ^ 3 N/A N/A $375,000 2.7% -5.1% $395,000 BURRUM HEADS 10 N/A N/A $347,500-12.1% -2.9% $357,750 DUNDOWRAN BEACH ^ 5 N/A N/A $560,000 12.0% 14.3% $490,000 ELI WATERS 17 N/A N/A $325,500 1.7% 0.9% $322,500 GLENWOOD ^ 6 N/A N/A $192,000-1.5% -11.3% $216,500 GRANVILLE 5 N/A N/A $210,000 16.7% 2.4% $205,000 KAWUNGAN 10 N/A N/A $335,000 1.5% 2.8% $325,750 MARYBOROUGH 46 $185,000-2.6% $192,000-5.5% -14.7% $225,000 PIALBA 13 N/A N/A $288,500 6.9% -1.5% $293,000 POINT VERNON 31 $293,750-11.0% $310,000 5.1% -0.9% $312,750 RIVER HEADS 4 N/A N/A $300,000 7.1% -2.4% $307,500 SCARNESS 10 N/A N/A $270,000-1.5% -0.4% $271,000 TINANA 8 N/A N/A $302,500 12.0% -5.5% $320,000 TOOGOOM 11 N/A N/A $315,000 3.5% 6.3% $296,322 TORQUAY 27 $321,000 1.9% $320,000 3.8% -0.2% $320,513 URANGAN 29 $290,000-6.5% $310,000 0.0% -3.1% $320,000 URRAWEEN 28 $327,500-6.4% $349,250 1.5% 4.0% $335,900 SURROUNDS GYMPIE (LGA) 113 $269,000-5.5% $270,000 3.9% -3.6% $280,000 GYMPIE (LGA) ^ 62 $357,500 2.1% $350,000 7.7% 0.8% $347,250 CHATSWORTH ^ 0 N/A N/A $370,000 5.1% -4.4% $387,000 COOLOOLA COVE 17 N/A N/A $280,750 2.1% -6.3% $299,500 CURRA ^ 5 N/A N/A $267,500 2.9% -11.4% $302,000 GYMPIE 46 $235,000-1.1% $232,250-2.8% -7.3% $250,500 SOUTHSIDE 16 N/A N/A $325,000 3.2% 0.9% $322,000 TIN CAN BAY 9 N/A N/A $301,500 4.0% -13.9% $350,000 SOUTH BURNETT (LGA) 45 $215,000 19.4% $190,000-2.6% -15.6% $225,000 SOUTH BURNETT (LGA) ^ 38 $241,000-5.5% $235,000-9.6% -19.6% $292,450 KINGAROY 24 $250,000 8.7% $231,375-0.5% -11.5% $261,500 KINGAROY ^ 4 N/A N/A $349,000-4.5% -12.8% $400,000 MURGON 5 N/A N/A $129,000-7.9% -26.9% $176,500 NANANGO 6 N/A N/A $176,750 4.0% -17.8% $215,000 S MARKET - UNITS & TOWNHOUSES FRASER COAST (LGA) 59 $254,750 6.2% $243,000-6.5% -8.8% $266,500 PIALBA 12 N/A N/A $244,000-4.3% -12.2% $278,000 SCARNESS 7 N/A N/A $265,000 10.4% 10.0% $241,000 TORQUAY 10 N/A N/A $219,000 2.8% -6.8% $235,000 URANGAN 18 N/A N/A $260,000-6.6% -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 $290 342 $280 309 4650 MARYBOROUGH REGION $260 133 $260 114 4655 HERVEY BAY/ PIALBA/ SCARNESS/ URANGAN $300 192 $300 170 4659 BURRUM/ BURRUM HEADS/ HOWARD $265 16 $270 22 GYMPIE REGIONAL $275 152 $260 161 4570 GYMPIE/ AMAMOOR/ CURRA/ IMBIL/ KANDANGA/ MONKLAND/ SOUTHSIDE/ $270 122 $260 119 VICTORY HEIGHTS 4580 COOLOOLA/ TIN CAN BAY $280 22 $280 27 SOUTH BURNETT REGIONAL $250 131 $230 162 4605 BARLIL $200 24 $220 25 4606 CHARLESTOWN $245 13 $200 16 4608 CHARLESTOWN $230 5 $210 8 4610 ALICE CREEK $255 $63 $250 76 4615 BARKER CREEK FLAT $250 $23 $230 34 RENTAL MARKET - 2 BED UNITS FRASER COAST REGIONAL $250 162 $240 171 4650 ALDERSHOT $190 40 $195 50 4655 HERVEY BAY/ PIALBA/ SCARNESS/ URANGAN $260 120 $260 119 GYMPIE REGIONAL $210 40 $215 41 4570 GYMPIE/ AMAMOOR/ CURRA/ IMBIL/ KANDANGA/ MONKLAND/ SOUTHSIDE/ $205 27 $210 28 VICTORY HEIGHTS 4580 COOLOOLA/ TIN CAN BAY N/A 4 $220 5 4581 RAINBOW BEACH/ INSKIP $250 7 $250 7 SOUTH BURNETT REGIONAL $195 64 $185 65 4605 BARLIL $165 8 $155 5 4610 ALICE CREEK $200 46 $190 53 RENTAL MARKET - 3 BED TOWNHOUSES 4655 4570 FRASER COAST REGIONAL $310 46 $330 54 HERVEY BAY/ PIALBA/ SCARNESS/ URANGAN $320 41 $330 54 GYMPIE REGIONAL $305 13 $250 12 GYMPIE/ AMAMOOR/ CURRA/ IMBIL/ KANDANGA/ MONKLAND/ SOUTHSIDE/ $330 10 $250 12 VICTORY HEIGHTS SURROUNDS GYMPIE (LGA) 16 N/A N/A $255,000-8.6% 6.3% $240,000 S MARKET - VACANT LAND FRASER COAST (LGA) 49 $145,000-3.0% $150,000 1.4% -4.3% $156,750 FRASER COAST (LGA) ^ 41 $70,000-7.3% $71,000-25.3% -21.1% $90,000 BURRUM HEADS 5 N/A N/A $110,000 4.8% -24.1% $145,000 GLENWOOD ^ 17 N/A N/A $65,500 0.0% -18.1% $80,000 RIVER HEADS 5 N/A N/A $115,000 24.3% -20.7% $145,000 TOOGOOM 4 N/A N/A $117,500 10.9% -21.7% $150,000 WONDUNNA 1 N/A N/A $155,000-1.9% -11.4% $175,000 SURROUNDS GYMPIE (LGA) 21 $119,000-6.7% $126,750 10.2% 1.4% $125,000 GYMPIE (LGA) ^ 18 N/A N/A $120,000-0.4% -4.0% $125,000 GYMPIE 6 N/A N/A $135,500 23.2% 5.4% $128,500 First home owners continue driving the demand as they are seeing good value in the current market conditions. MARCH QUARTER 2016 31

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 2017. 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 2016. 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 2015. 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 2015. 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 2016. 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

REGIONAL MARKET UPDATES S MARKET - HOUSES S 230 198 BUNDABERG HOUSE S BUNDABERG (LGA) 182 $276,000 0.4% $275,000-1.8% -3.5% $285,000 BUNDABERG (LGA) ^ 37 $345,000 7.8% $335,000-4.3% 0.0% $335,000 AVENELL HEIGHTS 10 N/A N/A $280,000 8.1% 2.9% $272,000 AVOCA 12 N/A N/A $292,000-11.0% -4.3% $305,000 BARGARA 22 $381,000 3.7% $380,000 0.7% 3.6% $366,750 BRANYAN ^ 5 N/A N/A $353,000-11.8% -1.1% $357,000 BUNDABERG EAST 7 N/A N/A $250,000 2.5% -9.7% $277,000 BUNDABERG NORTH 8 N/A N/A $218,000-5.2% -14.5% $255,000 BUNDABERG SOUTH 6 N/A N/A $236,000 0.4% -9.2% $260,000 BUNDABERG WEST 3 N/A N/A $240,000-18.0% 0.4% $239,000 BURNETT HEADS 10 N/A N/A $284,500-5.2% -2.3% $291,250 CORAL COVE 2 N/A N/A $438,500 12.4% 8.0% $406,000 KALKIE 6 N/A N/A $363,250 19.1% -0.2% $363,900 KEPNOCK 7 N/A N/A $255,625-7.4% -9.2% $281,500 MILLBANK 9 N/A N/A $246,000 6.0% -7.5% $266,000 NORVILLE 9 N/A N/A $214,500-4.7% -6.7% $230,000 SVENSSON HEIGHTS 11 N/A N/A $250,000-3.9% -2.0% $255,000 THABEBAN 9 N/A N/A $265,500-0.8% -7.3% $286,500 WALKERVALE 13 N/A N/A $230,000-2.5% 0.0% $230,000 WOODGATE 4 N/A N/A $382,500-11.1% -13.1% $440,000 SURROUNDS NORTH BURNETT (LGA) 18 N/A N/A $147,000 1.4% -8.1% $160,000 S MARKET - UNITS & TOWNHOUSES BUNDABERG (LGA) 47 $246,000-8.9% $261,250-2.1% 4.5% $250,000 AVENELL HEIGHTS 9 N/A N/A $240,000-4.0% 6.7% $225,000 BARGARA 18 N/A N/A $302,000-16.7% -13.7% $350,000 S MARKET - VACANT LAND BUNDABERG (LGA) 33 $148,000-1.3% $144,000 0.0% 3.6% $139,000 BUNDABERG (LGA) ^ 7 N/A N/A $150,000 4.0% 16.3% $129,000 BRANYAN 0 N/A N/A $145,000 5.8% 10.7% $131,000 Houses<2,400m 195 21 136 25 22 22 22 58 BUNDABERG UNIT S Sep-15 18 Dec-15 Mar-16 * <$250k $250K+ $350K+ $500k+ 94 76 59 18 34 27 <$350K BUNDABERG LAND S $350K+ $500k+ Houses<2,400m 86 ROCKHAMPTON & LIVINGSTONE UNIT S 19 59 19 17 16 39 14 13 11 9 9 9 6 1 TOWNSVILLE HOUSE S 0 7 2 3 1 <$250k Sep-15 Dec-15 $250K+ Mar-16 * $350K+ 1 308 <$250k 266 $250K+ $350K+ $500k+ 221 223 224 62 <$350K $350K+ $500k+ ROCKHAMPTON & LIVINGSTONE HOUSE S 202 168 42 5 134 6 3 12 66 3 15 81 2 3 1 44 <$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 $280 328 $280 361 4660 APPLE TREE CREEK/ CHILDERS/ WOODGATE $290 20 $275 24 4670 BUNDABERG/ AVOCA/ BARGARA/ BURNETT HEADS/ INNES PARK/ $280 285 $285 315 KEPNOCK/ MILLBANK/ THABEBAN 4671 GIN GIN/ MOUNT PERRY $250 21 $250 22 NORTH BURNETT REGIONAL $230 41 $215 54 4625 ARANBANGA $245 20 $235 24 4626 BEERON $250 11 $200 10 4630 BANCROFT $200 5 $180 15 63 52 44 43 37 34 37 23 20 17 14 <$250k $250K+ $350K+ $500k+ 3 RENTAL MARKET - 2 BED UNITS 4670 BUNDABERG REGIONAL $230 160 $230 185 BUNDABERG/ AVOCA/ BARGARA/ BURNETT HEADS/ INNES PARK/ $230 157 $230 181 KEPNOCK/ MILLBANK/ THABEBAN RENTAL MARKET - 3 BED TOWNHOUSES 4670 BUNDABERG REGIONAL $285 21 $300 19 BUNDABERG/ AVOCA/ BARGARA/ BURNETT HEADS/ INNES PARK/ $285 20 $300 19 KEPNOCK/ MILLBANK/ THABEBAN MARCH QUARTER 2016 33

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 2008. 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 2016. 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 2016. 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. 34 27 18 The rental market is one of the weakest in Queensland <$350K $350K+ $500k+ with vacancy rates reaching double digits by late 2015. 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 11.4221 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 $350,000. 44 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). 68 7 107 25 14 58 130 7 17 38 13 Sep-155 Dec-15 Mar-16 * 2 2 0 0 0 338 <$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 9 6 54 <$350K $350K+ $500k+ Houses<2,400m 92 5 5 5 95 4 85 3 2 64 <$250k $250K+ $350K+ $500k+ 25 28 13 Houses<2,400m 201 44 <$350K $350K+ $500k+ GLADSTONE LAND S 159 155 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 213 13 178 17 150 7 97 34 QUEENSLAND MARKET MONITOR

REGIONAL MARKET UPDATES S MARKET - HOUSES S MARKET - VACANT LAND S S GLADSTONE (LGA) 75 $345,000-1.4% $350,000-6.7% -11.4% $395,000 GLADSTONE (LGA) ^ 26 $335,000-14.1% $385,000-19.4% -23.3% $502,000 AGNES WATER ^ 9 N/A N/A $326,000-6.2% -14.2% $380,000 BOYNE ISLAND 5 N/A N/A $380,000-9.5% -14.3% $443,500 CALLIOPE 4 N/A N/A $342,000-8.8% -16.0% $407,000 CLINTON 12 N/A N/A $335,500-5.8% -14.0% $390,000 GLEN EDEN 2 N/A N/A $360,000-15.6% -19.6% $447,500 KIN KORA 5 N/A N/A $329,000-5.7% -14.5% $385,000 KIRKWOOD 3 N/A N/A $420,000-2.6% -17.2% $507,500 NEW AUCKLAND 10 N/A N/A $375,000 1.4% -5.5% $397,000 SOUTH GLADSTONE 3 N/A N/A $360,000 10.1% 1.4% $355,000 TANNUM SANDS 4 N/A N/A $430,000 1.2% -3.4% $445,000 TELINA 2 N/A N/A $405,000 1.9% -8.5% $442,500 WEST GLADSTONE 10 N/A N/A $253,000-16.6% -30.7% $365,000 SURROUNDS BANANA (LGA) 12 N/A N/A $240,000-9.8% -11.1% $270,000 BILOELA 6 N/A N/A $275,000-11.3% -3.3% $284,500 S MARKET - UNITS & TOWNHOUSES GLADSTONE (LGA) 23 $302,500 30.1% $265,000-14.5% -29.3% $375,000 GLADSTONE (LGA) 5 N/A N/A $185,000-2.6% -2.1% $189,000 KIRKWOOD 0 N/A N/A $195,000 1.3% 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 $250 284 $300 274 4677 AGNES WATER/ MIRIAM VALE $330 23 $300 22 GLADSTONE/ BOYNE ISLAND/ 4680 CLINTON/ NEW AUCKLAND/ $240 250 $300 249 KIN KORA/ TANNUM SANDS BANANA SHIRE $280 36 $250 47 4715 BILOELA $310 22 $320 18 4718 BAUHINIA $225 11 $220 26 RENTAL MARKET - 2 BED UNITS GLADSTONE REGIONAL $190 216 $250 229 4677 AGNES WATER/ MIRIAM VALE $250 10 $250 5 4680 GLADSTONE/ BOYNE ISLAND/ CLINTON/ NEW $180 AUCKLAND/ KIN KORA/ TANNUM SANDS 206 $250 224 BANANA SHIRE $220 14 $250 17 4715 BILOELA $250 $12 $270 11 RENTAL MARKET - 3 BED TOWNHOUSES GLADSTONE REGIONAL $250 72 $350 109 4680 GLADSTONE/ BOYNE ISLAND/ CLINTON/ NEW AUCKLAND/ KIN KORA/ TANNUM $250 67 $340 106 SANDS 4677 AGNES WATER/ MIRIAM VALE $300 5 N/A 3 MARCH QUARTER 2016 35

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 2007. 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 2016. 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 202 168 94 76 <$350K $350K+ $500k+ 59 18 34 27 Houses<2,400m 36 QUEENSLAND MARKET MONITOR

REGIONAL MARKET UPDATES S MARKET - HOUSES ROCKHAMPTON (LGA) 179 $270,000-3.6% $282,000-4.4% -7.5% $305,000 ROCKHAMPTON (LGA) ^ 14 N/A N/A $377,500-0.7% 0.7% $375,000 ALLENSTOWN 15 N/A N/A $262,500 5.0% 0.5% $261,250 BERSERKER 17 N/A N/A $220,000-5.2% -10.4% $245,500 FRENCHVILLE 26 $335,000 5.7% $318,500-3.0% -5.1% $335,500 GRACEMERE 13 N/A N/A $308,500-3.6% -6.4% $329,500 KAWANA 13 N/A N/A $287,500-8.7% -8.5% $314,250 KOONGAL 15 N/A N/A $236,250-6.8% -9.1% $260,000 MOUNT MORGAN 6 N/A N/A $105,000 10.5% -16.0% $125,000 NORMAN GARDENS 25 $389,000 17.9% $385,000-7.2% -12.5% $440,000 PARK AVENUE 15 N/A N/A $240,000-7.0% -7.0% $258,000 THE RANGE 11 N/A N/A $355,125-2.0% -3.0% $366,000 WANDAL 9 N/A N/A $299,250-5.0% 6.9% $280,000 SURROUNDS S CENTRAL HIGHLANDS (LGA) 24 $160,000-18.0% $200,000-28.6% -43.7% $355,000 BLACKWATER 6 N/A N/A $127,500-15.6% -61.0% $326,750 EMERALD 16 N/A N/A $245,000-23.3% -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 $220 203 $235 212 4700 ALLENSTOWN/ DEPOT HILL/ GREAT KEPPEL IS/ ROCKHAMPTON/ WANDAL $230 62 $260 70 CENTRAL QLD UNI/ FRENCHVILLE/ KALKA/ 4701 KOONGAL/ LAKES CK/ NERIMBERA/ NTH ROCKHAMPTON/ OASIS GARDENS/ PK $220 141 $230 141 AVENUE PO/ ROCKHAMPTON LIVINGSTONE SHIRE $275 68 $280 87 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 $300 58 $280 76 BCH/ STATUTE BAY/ TARANGANBA/ WOODBURY/ YEPPOON CENTRAL HIGHLANDS REGIONAL $156 79 $190 69 4717 BLACKWATER $150 9 $120 8 4720 EMERALD $160 60 $200 60 4722 SPRINGSURE $143 8 N/A N/A LIVINGSTONE (LGA) 79 $387,500 4.7% $375,000-0.7% -2.1% $383,000 LIVINGSTONE (LGA) ^ 33 $467,500-3.6% $470,000-5.2% 2.2% $460,000 EMU PARK 7 N/A N/A $317,500-13.0% -15.6% $376,000 LAMMERMOOR 12 N/A N/A $422,500-1.7% -1.2% $427,500 YEPPOON 13 N/A N/A $357,500-0.7% -5.0% $376,500 ZILZIE 5 N/A N/A $375,000-3.9% -3.8% $390,000 S MARKET - UNITS & TOWNHOUSES ROCKHAMPTON (LGA) 20 $264,500-0.2% $309,750-15.1% 10.6% $280,000 ROCKHAMPTON CITY 1 N/A N/A $435,000-1.7% 11.8% $389,000 SURROUNDS LIVINGSTONE (LGA) 20 $252,500-28.9% $345,000 10.6% 4.5% $330,000 YEPPOON 12 N/A N/A $343,500 25.8% -9.6% $380,000 S MARKET - VACANT LAND ROCKHAMPTON (LGA) 8 N/A N/A $159,500-6.2% 18.1% $135,000 GRACEMERE 2 N/A N/A $148,500 0.0% 10.4% $134,500 NORMAN GARDENS 3 N/A N/A $170,000-5.5% -2.9% $175,000 RENTAL MARKET - 3 BED TOWNHOUSES ROCKHAMPTON REGIONAL $340 7 $360 9 4701 CENTRAL QLD UNI/ FRENCHVILLE/ KALKA/ KOONGAL/ LAKES CK/ NERIMBERA/ NTH ROCKHAMPTON/ OASIS GARDENS/ PK $330 6 $360 5 AVENUE PO/ ROCKHAMPTON LIVINGSTONE SHIRE $320 18 $320 10 4702 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 $285 10 $300 6 BCH/ STATUTE BAY/ TARANGANBA/ WOODBURY/ YEPPOON CENTRAL HIGHLIGHTS REGIONAL $210 8 $280 21 4720 EMERALD $210 8 $280 18 SURROUNDS LIVINGSTONE (LGA) 26 $172,000-1.7% $170,000-0.6% 6.3% $160,000 HIDDEN VALLEY 4 N/A N/A $176,000-0.6% -54.0% $382,250 PARKHURST 7 N/A N/A $165,000-4.1% -25.0% $220,000 ZILZIE 2 N/A N/A $159,000-5.5% -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 $295 261 $300 274 4700 ALLENSTOWN/ DEPOT HILL/ GREAT KEPPEL IS/ ROCKHAMPTON/ WANDAL $290 94 $290 93 CENTRAL QLD UNI/ FRENCHVILLE/ KALKA/ 4701 KOONGAL/ LAKES CK/ NERIMBERA/ NTH ROCKHAMPTON/ OASIS GARDENS/ PK $300 157 $300 169 AVENUE PO/ ROCKHAMPTON LIVINGSTONE SHIRE $300 155 $300 171 AMBROSE/ BANANA/ BARALABA/ GINDIE/ GRACEMERE/ JERICHO/ 4702 KEPPEL SANDS/ SAPHIRE/ STANWELL/ $280 67 $280 67 RUBYVALE/ WESTWOOD/ WOORABINDA/ WOWAN/ YARAKA ETC BAYFIELD/ BUNGUNDARRA/ BYFIELD/ COOEE BAY/ FARNBOROUGH/ KEMP 4703 BCH/ KINKA BCH/ LAMMERMOOR $320 73 $330 83 BCH/ STATUTE BAY/ TARANGANBA/ WOODBURY/ YEPPOON 4710 EMU PARK, ZILZIE $300 13 $300 21 4714 MOUNT MORGAN 220 10 220 12 CENTRAL HIGHLANDS REGIONAL $220 103 $240 123 4717 BLACKWATER $200 51 $200 53 4720 EMERALD $250 45 $260 62 9 96 16 89 19 39 ROCKHAMPTON & LIVINGSTONE UNIT S 19 17 11 13 <$250k $250K+ $350K+ $500k+ 63 52 ROCKHAMPTON & LIVINGSTONE LAND S TOWNSVILLE UNIT S 44 43 7 37 34 2 2 37 1 3 0 <$250k $250K+ $350K+ 23 20 17 14 9 7 9 14 1 <$250k $250K+ $350K+ $500k+ 3 MARCH QUARTER 2016 37

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- 2017. 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 2016. 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 2016. 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. 107 92 95 85 64 25 28 <$350K $350K+ $500k+ Houses<2,400m 13 38 QUEENSLAND MARKET MONITOR

BRISBANE SURROUNDS UNIT S 448 431 393 S MARKET - HOUSES 336 282 266 286 203 S 147 120 88 MACKAY (LGA) 172 $332,500-1.9% 60 $345,000-10.6% -14.8% $405,000 11 11 6 MACKAY (LGA) ^ 27 $450,000 0.0% $435,000-4.4% -10.3% $485,000 <$250k $250K+ $350K+ $500k+ $1M+ ANDERGROVE 16 N/A N/A $305,000-15.3% -22.3% $392,500 BEACONSFIELD 9 N/A N/A $340,000-10.3% -16.0% $405,000 BLACKS BEACH 2 N/A N/A $355,000-17.6% -26.0% $480,000 BUCASIA 9 N/A N/A $340,000-15.5% -20.9% $430,000 EAST MACKAY 9 N/A N/A $395,000 3.3% -7.1% $425,000 EIMEO 7 N/A N/A $356,000-14.1% -20.3% $446,500 GLENELLA 7 N/A N/A $495,000 3.3% -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 10 92 N/A N/A $265,000-15.9% -25.8% $357,000 OORALEA 9 N/A N/A $420,000-8.2% -17.1% $506,500 RURAL VIEW 12 N/A 62 N/A $377,500-10.8% -17.6% $458,000 SARINA 2 N/A 50 N/A $220,000-21.4% -26.7% $300,000 SLADE POINT35 3 N/A N/A $325,000 3.2% -12.4% $371,000 26 28 24 27 SOUTH MACKAY 15 N/A N/A $275,000 17-20.0% -25.7% $370,000 WALKERSTON 9 N/A N/A $355,000-13.6% 7-20.0% 8 8 $443,750 WEST MACKAY 16 N/A N/A $334,000-6.6% -10.2% $372,000 <$250k $250K+ $350K+ $500k+ SURROUNDS ISAAC (LGA) 20 $85,000-37.0% $151,000-29.8% -65.1% $432,500 MORANBAH 5 N/A N/A $190,000-12.8% -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 $285 375 $320 403 4737 SARINA/ SARINA BEACH/ ARMSTRONG BEACH $280 33 $300 26 4740 MACKAY $290 296 $320 318 4741 VARIOUS ISLANDS/ CLAIRVIEW/ ETON/ FARLEIGH/ FLAGGY ROCK/ GARGETT/ MT CHRISTIAN/ MT OSSA/ OAKENDEN/ $320 6 $270 11 PINNACLE/ PLEYSTOWE/ SEAFORTH/ YALBOROO 4750 BUCASIA/ SEAVIEW HEIGHTS/ SHOAL PT $290 16 $335 22 4751 PALMYRA/ WALKERSTON $295 9 $320 11 ISAAC REGIONAL $220 140 $250 134 4721 CLERMONT $240 11 $290 15 4742 NEBO $150 10 $250 5 4744 MORANBAH $230 70 $270 77 4745 DYSART $150 29 $150 28 4746 MIDDLEMOUNT $250 17 $300 8 WHITSUNDEY REGIONAL $300 135 $300 129 4800 CANNON VALLEY/ CONWAY/ DINGO BCH/ ERLANDO BCH/ MT JULIAN/ MT MARLOW/ NTH GREGORY/ PROSERPINE/ $300 28 $360 23 RIORDANVALE/ STRATHDICKIE/ WILSON BCH 4802 AIRLIE BCH/ CANNONVALE/ JUBILEE/ SHUTE HARBOUR/ SHUTEHAVEN/ $380 52 $375 42 WHITSUNDAY 4804 COLLINSVILLE $200 6 $170 11 4805 BOWEN $260 49 280 53 WHITSUNDAY (LGA) 41 $297,000-19.7% $365,000-3.3% -1.4% $370,000 WHITSUNDAY (LGA) ^ 17 N/A N/A $435,000-14.3% -5.9% $462,500 BOWEN 12 FRASER N/A COAST N/A UNIT S $267,500-20.2% -26.7% $365,000 CANNONVALE 10 N/A N/A $427,500-1.7% -2.5% $438,500 56 PROSERPINE 11 N/A N/A $260,000 0.0% -14.8% $305,000 42 29 S MARKET - UNITS 27 & TOWNHOUSES 24 MACKAY (LGA) 25 19 $220,000-12.0% $257,500-17.3% -18.3% $315,000 MACKAY 7 N/A N/A 7 $295,000 8-5.8% -11.5% $333,500 6 4 2 2 SURROUNDS <$250k $250K+ $350K+ $500k+ WHITSUNDAY (LGA) 20 $285,000-28.8% $285,000 5.6% -7.3% $307,500 AIRLIE BEACH 7 N/A N/A $363,250-8.3% -1.8% $370,000 CANNONVALE 8 N/A N/A $254,500-1.1% -26.2% $345,000 S MARKET - VACANT LAND MACKAY (LGA) 25 GLADSTONE $175,000 3.7% UNIT S $174,725-13.1% -4.5% $183,000 RURAL VIEW 5 N/A Sep-15 Dec-15 N/A Mar-16 $150,000 * -26.3% -28.2% $209,000 14 SURROUNDS WHITSUNDAY (LGA) 19 N/A N/A $172,000 4.6% 7.5% $160,000 9 CANNONVALE 7 7 9 N/A N/A $174,000 5.8% 28.9% $135,000 6 5 5 5 5 4 3 2 <$250k $250K+ $350K+ $500k+ RENTAL MARKET - 2 BED UNITS MACKAY REGIONAL $200 308 $230 311 4737 SARINA/ SARINA BEACH/ ARMSTRONG BEACH $175 17 $200 15 4740 MACKAY $210 278 $235 280 4750 BUCASIA/ SEAVIEW HEIGHTS/ SHOAL PT $200 6 $170 5 ISAAC REGIONAL $180 25 $250 20 4721 CLERMONT $175 5 $170 5 4744 MORANBAH $260 11 $325 7 4746 MIDDLEMOUNT $200 5 N/A 4 WHITSUNDEY REGIONAL $255 131 $250 158 4800 CANNON VALLEY/ CONWAY/ DINGO BCH/ ERLANDO BCH/ MT JULIAN/ MT MARLOW/ NTH GREGORY/ PROSERPINE/ $180 10 $210 13 RIORDANVALE/ STRATHDICKIE/ WILSON BCH 4802 AIRLIE BCH/ CANNONVALE/ JUBILEE/ SHUTE HARBOUR/ SHUTEHAVEN/ $280 92 $285 101 WHITSUNDAY 4805 BOWEN $190 26 $250 42 RENTAL MARKET - 3 BED TOWNHOUSES MACKAY REGIONAL $300 30 $320 49 4740 MACKAY $300 30 $320 44 ISAAC REGIONAL $250 28 $335 23 4744 MORANBAH $300 16 $350 13 4745 DYSART $175 7 N/A 4 WHITSUNDEY REGIONAL $280 30 $300 28 4802 AIRLIE BCH/ CANNONVALE/ JUBILEE/ SHUTE HARBOUR/ SHUTEHAVEN/ $280 18 $300 21 WHITSUNDAY 4805 BOWEN $280 11 N/A 2 22 MACKAY UNIT S 45 MACKAY LAND S 15 15 14 11 8 5 5 4 3 3 <$250k $250K+ $350K+ $500k+ 0 32 24 7 5 1 2 2 1 <$250k $250K+ $350K+ MARCH QUARTER 2016 39

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 2016. 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

REGIONAL MARKET UPDATES S MARKET - HOUSES S MARKET - HOUSES (CONT D) S S TOWNSVILLE (LGA) 419 $330,000-8.3% $347,000-2.3% -7.0% $373,000 TOWNSVILLE (LGA) ^ 48 $417,500 0.6% $417,000-5.2% -4.1% $435,000 AITKENVALE 4 N/A N/A $321,000 5.3% -6.8% $344,500 ALICE RIVER ^ 7 N/A N/A $470,000-8.0% -1.1% $475,000 ANNANDALE 30 $380,000-15.9% $415,000-1.2% -10.1% $461,750 BOHLE PLAINS 9 N/A N/A $422,500 0.6% -5.1% $445,000 BURDELL 15 N/A N/A $411,250-2.2% -1.5% $417,500 BUSHLAND BEACH 13 N/A N/A $385,000-7.2% -5.6% $407,780 CONDON 11 N/A N/A $286,000 0.4% -12.8% $328,000 CRANBROOK 14 N/A N/A $290,000 1.8% -10.8% $325,000 CURRAJONG 8 N/A N/A $286,000 7.9% -3.1% $295,000 DEERAGUN 7 N/A N/A $317,500-0.8% -9.3% $350,000 DOUGLAS 21 $420,000 5.3% $399,000 1.5% -4.8% $419,000 GULLIVER 11 N/A N/A $276,000-7.7% -9.5% $305,000 HEATLEY 8 N/A N/A $248,750-8.2% -19.5% $309,000 HERMIT PARK 9 N/A N/A $340,000-5.6% -12.8% $390,000 HYDE PARK 5 N/A N/A $395,000 21.5% 12.9% $350,000 IDALIA 14 N/A N/A $513,000 0.6% 6.2% $483,000 KELSO 16 N/A N/A $265,000-10.9% -20.9% $335,000 KIRWAN 51 $327,000-3.8% $335,000-3.3% -8.2% $365,000 MOUNT LOUISA 24 $428,000 9.7% $399,950 8.1% -2.7% $411,000 MUNDINGBURRA 10 N/A N/A $339,750-11.2% -8.4% $371,000 NORTH WARD 7 N/A N/A $680,000 13.7% 8.8% $625,000 OONOONBA 5 N/A N/A $308,500 1.2% -0.5% $310,000 RAILWAY ESTATE 16 N/A N/A $335,000-1.5% 1.5% $330,000 RANGEWOOD ^ 2 N/A N/A $465,000-3.2% -7.0% $500,000 RASMUSSEN 15 N/A N/A $380,000 31.9% 31.0% $290,000 SOUTH TOWNSVILLE 5 N/A N/A $344,000-1.4% -11.2% $387,500 THURINGOWA CENTRAL 6 N/A N/A $293,500-6.8% -20.5% $369,000 VINCENT 5 N/A N/A $240,000-9.8% -15.1% $282,750 WEST END 6 N/A N/A $360,000 0.0% -2.7% $370,000 WULGURU 7 N/A N/A $293,750-0.8% -8.2% $320,000 SURROUNDS BURDEKIN (LGA) 28 $180,000 0.0% $180,000-12.2% -28.0% $250,000 AYR 15 N/A N/A $190,000-21.6% -26.4% $258,000 CHARTERS TOWERS (LGA) 8 N/A N/A $178,250 1.6% -15.1% $210,000 CHARTERS TOWERS CITY 1 N/A N/A $150,000-14.3% -21.5% $191,000 HINCHINBROOK (LGA) 14 N/A N/A $215,000-7.5% -15.7% $255,000 INGHAM 7 N/A N/A $202,500-12.0% -18.2% $247,500 S MARKET - UNITS & TOWNHOUSES TOWNSVILLE (LGA) 97 $260,000-15.0% $280,000-1.8% -14.1% $326,000 BELGIAN GARDENS 4 N/A N/A $325,000 4.8% -3.7% $337,500 DOUGLAS 4 N/A N/A $307,000 5.0% -5.1% $323,500 NORTH WARD 19 N/A N/A $297,500 0.9% -17.4% $360,000 PIMLICO 1 N/A N/A $205,000-20.9% -23.5% $268,000 SOUTH TOWNSVILLE 2 N/A N/A $365,000-29.8% -31.1% $530,000 TOWNSVILLE CITY 7 N/A N/A $390,000 1.3% -17.0% $470,000 WEST END 6 N/A N/A $180,750-27.7% -39.1% $297,000 S MARKET - VACANT LAND TOWNSVILLE (LGA) 40 $167,750 6.9% $159,500-1.5% -1.5% $162,000 TOWNSVILLE (LGA) ^ 2 N/A N/A $200,000 4.7% -9.1% $220,000 308 266 221 TOWNSVILLE HOUSE S 223 224 134 66 81 44 BOHLE PLAINS 0 N/A N/A $158,000-1.9% -8.8% $173,250 BURDELL 1 CAIRNS & DOUGLAS HOUSE S N/A N/A $154,650-3.3% -8.2% $168,500 BUSHLAND BEACH 7 N/A N/A $152,000 1.3% -0.7% $153,000 KELSO 0 N/A 338 N/A 312 $140,000 3.7% -6.6% $149,900 MOUNT LOUISA 2 N/A N/A $175,000-7.4% 3.6% $168,900 MOUNT LOW 201 213 7 N/A N/A $162,000 0.6% 6.1% 178 $152,750 OONOONBA 0 159 155 N/A N/A $142,000-11.8% -31.0% 150 $205,900 SHAW 4 N/A N/A $158,750 3.1% -53.3% 97 $339,724 63 173 52 <$350K $350K+ $500k+ 109 44 36 37 TOWNSVILLE UNIT S 43 34 <$250k $250K+ $350K+ $500k+ TOWNSVILLE LAND S 13 8 3 5 9 3 <$250k $250K+ $350K+ 23 37 14 20 17 3 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 4810 4811 4812 4814 4815 4816 4817 TOWNSVILLE CITY $310 803 $330 779 BELGIAN GARDENS/ CAPE CLEVELAND/ CASTLE HILL/ NTH WARD/ PALLARENDA/ $335 RAILWAY ESTATE/ ROWES BAY/ 68 $350 58 TOWNSVILLE/ WEST END/ YARRAWONGA CLUDEN/ IDALIA/ JAMES COOK UNI/ MT STUART/ OAK VALLEY/ OONOONBA/ PARTINGTON/ ROSENEATH/ SERENE $325 46 $340 39 VALLEY/ STUART/ WULGURU CURRAJONG/ GULLIVER/ HERMIT PK/ HYDE PK/ HYDE PK CASTLETOWN/ MUNDINGBURRA/ MYSTERTON/ $320 82 $330 67 PILMICO/ RISING SUN/ ROSSLEA AITKENVALE/ CRANBROOK/ DOUGLAS/ GARBUTT/ HEATLEY/ MT ELLIOT/ MT $320 232 $340 244 LOUISA/ MURRAY/ VINCENT CONDON/ KELSO/ PINNACLES/ RASMUSSEN $280 117 $300 119 ALLIGATOR CK/ DUNK IS/ GREENVALE/ HIDDEN VALLEY/ HOMESTEAD/ JULAGO/ MACROSSAN/ MAJORS CK/ MINGELA/ MUTARNEE/ NELIA/ NOME/ PALM $250 10 $320 17 IS/ PALUMA/ PENTLAND/ PRAIRE/ RAVENSWOOD/ ROLLINGSTONE/ SELLHEIM/ TOONPAN/ TORRENS CK/ WOODSTOCK ALICE RIVER/ BOHLE PLNS/ KIRWAN/ RANGEWOOD/ RUPERTSWOOD/ $320 136 $335 120 STABLEFORD/ THURINGOWA CENTRAL MARCH QUARTER 2016 41

REGIONAL MARKET UPDATES 42 QUEENSLAND MARKET MONITOR

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 $300 102 $330 103 4819 ARCADIA/ ARCADIA BAY/ HORSESHOE BAY/ $290 MAGNETIC IS/ NELLY BAY/ PICNIS BAY 10 $300 12 BURDEKIN SHIRE $260 48 $270 77 4806 ARKENDEITH $250 14 $260 17 4807 AIRVILLE $265 30 $280 51 CHARTERS TOWERS REGIONAL $250 61 $240 43 4820 RICHMOND HILL $250 61 $240 43 HINCHINBROOK SHIRE $250 35 $250 28 4850 ABERGOWRIE $250 35 $250 28 RENTAL MARKET - 2 BED UNITS TOWNSVILLE CITY $260 809 $275 868 4810 BELGIAN GARDENS/ CAPE CLEVELAND/ CASTLE HILL/ NTH WARD/ PALLARENDA/ $285 RAILWAY ESTATE/ ROWES BAY/ 381 $295 403 TOWNSVILLE/ WEST END/ YARRAWONGA CLUDEN/ IDALIA/ JAMES COOK UNI/ 4811 MT STUART/ OAK VALLEY/ OONOONBA/ PARTINGTON/ ROSENEATH/ SERENE $340 48 $330 77 VALLEY/ STUART/ WULGURU 4812 CURRAJONG/ GULLIVER/ HERMIT PK/ HYDE PK/ HYDE PK CASTLETOWN/ MUNDINGBURRA/ MYSTERTON/ $230 174 $240 185 PILMICO/ RISING SUN/ ROSSLEA 4814 AITKENVALE/ CRANBROOK/ DOUGLAS/ GARBUTT/ HEATLEY/ MT ELLIOT/ MT LOUISA/ MURRAY/ VINCENT $285 120 $295 118 4815 CONDON/ KELSO/ PINNACLES/ RASMUSSEN $265 19 $240 21 ALICE RIVER/ BOHLE PLNS/ KIRWAN/ 4817 RANGEWOOD/ RUPERTSWOOD/ $265 39 $265 42 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 $230 16 $224 6 4819 ARCADIA/ ARCADIA BAY/ HORSESHOE BAY/ $280 MAGNETIC IS/ NELLY BAY/ PICNIS BAY 12 $300 15 BURDEKIN SHIRE $210 40 $200 55 4807 AIRVILLE $220 35 $210 45 CHARTERS TOWERS REGIONAL $200 15 $230 13 4820 RICHMOND HILL $200 15 $230 13 HINCHINBROOK SHIRE $180 14 $180 23 4850 ABERGOWRIE $180 14 $180 23 RENTAL MARKET - 3 BED TOWNHOUSES 4810 4812 4814 4817 4818 TOWNSVILLE CITY $340 46 $350 39 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/ $340 13 $380 8 PILMICO/ RISING SUN/ ROSSLEA AITKENVALE/ CRANBROOK/ DOUGLAS/ GARBUTT/ HEATLEY/ MT ELLIOT/ MT $350 7 $350 12 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 2016 43

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 2016. 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 2016. 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 2016. 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. 201 291 247 142 167 159 112 155 101 91 66 CAIRNS & DOUGLAS HOUSE S 44 338 <$350K $350K+ $500k+ Houses<2,400m CAIRNS & DOUGLAS UNIT S CAIRNS & DOUGLAS LAND S 30 67 55 50 34 39 27 <$250k $250K+ $350K+ $500k+ $1M+ <$250k $250K+ $350K+ 312 30 213 11 178 12 150 9 11 97 9 5 3 44 QUEENSLAND MARKET MONITOR

REGIONAL MARKET UPDATES S MARKET - HOUSES S MARKET - UNITS & TOWNHOUSES (CONT D) S S CAIRNS (LGA) 439 $386,000-4.1% $400,000 3.3% 9.6% $365,000 CAIRNS (LGA) ^ 25 $682,500 3.8% $635,000 8.6% -9.3% $700,000 BAYVIEW HEIGHTS 9 N/A N/A $385,000-1.3% 11.6% $345,000 BENTLEY PARK 31 $360,000 0.1% $360,000 2.9% 10.8% $325,000 BRINSMEAD 13 N/A N/A $447,500 5.3% 11.9% $400,000 BUNGALOW 4 N/A N/A $375,000 7.1% 21.0% $310,000 CARAVONICA 9 N/A N/A $368,000 1.5% 2.2% $360,000 CLIFTON BEACH 10 N/A N/A $521,000-2.6% 9.1% $477,500 EARLVILLE 11 N/A N/A $367,500 5.0% 21.7% $302,000 EDGE HILL 10 N/A N/A $480,000-1.0% 7.7% $445,500 EDMONTON 38 $342,000-2.3% $335,000-2.9% 6.3% $315,000 FRESHWATER 6 N/A N/A $511,000 2.5% 5.4% $485,000 GOLDSBOROUGH ^ 2 N/A N/A $483,500 4.0% 21.6% $397,500 GORDONVALE 18 N/A N/A $313,500 10.0% 14.0% $275,000 GORDONVALE ^ 2 N/A N/A $647,500 21.0% 13.0% $573,000 HOLLOWAYS BEACH 7 N/A N/A $400,000 6.0% 15.3% $347,000 KANIMBLA 4 N/A N/A $529,500 10.3% 25.4% $422,250 KEWARRA BEACH 26 $403,000-6.3% $420,000-2.3% 6.3% $395,000 MANOORA 12 N/A N/A $311,000 11.1% 5.4% $295,000 MANUNDA 9 N/A N/A $309,500-7.1% 4.9% $295,000 MOOROOBOOL 22 $395,000-1.1% $386,500 4.5% 8.7% $355,500 MOUNT SHERIDAN 41 $340,000-11.7% $370,000 2.1% 8.8% $340,000 PALM COVE 8 N/A N/A $648,500 10.9% 37.2% $472,500 PARRAMATTA PARK 5 N/A N/A $435,000 11.5% 14.5% $380,000 REDLYNCH 25 $465,000-1.6% $460,000 2.1% 13.3% $406,000 SMITHFIELD 27 $415,000 2.5% $415,000 0.9% 15.3% $360,000 TRINITY BEACH 19 N/A N/A $490,000 3.4% 30.7% $375,000 TRINITY PARK 12 N/A N/A $430,000 0.0% 13.2% $380,000 WESTCOURT 3 N/A N/A $366,000 9.7% 22.0% $300,000 WHITE ROCK 8 N/A N/A $325,500 6.7% 17.1% $278,000 WHITFIELD 14 N/A N/A $480,000-10.8% 6.7% $450,000 WOREE 7 N/A N/A $358,750 6.1% 17.1% $306,250 SURROUNDS CASSOWARY COAST (LGA) 38 $217,500-12.7% $230,000-5.4% -11.5% $260,000 CASSOWARY COAST (LGA) ^ 19 N/A N/A $350,000 9.4% 0.0% $350,000 DOUGLAS (LGA) 33 $437,500 5.4% $435,000 4.8% 12.3% $387,500 PORT DOUGLAS 14 N/A N/A $527,500-0.5% -7.5% $570,000 MAREEBA (LGA) 19 N/A N/A $275,000-1.8% -1.8% $280,000 MAREEBA (LGA) ^ 16 N/A N/A $450,000 4.7% 6.5% $422,500 KURANDA ^ 7 N/A N/A $469,000 8.4% 10.4% $425,000 MAREEBA 16 N/A N/A $275,000-1.8% -1.8% $280,000 TABLELANDS (LGA) 45 $309,000 6.1% $308,000 6.2% 2.7% $300,000 TABLELANDS (LGA) ^ 28 $439,000 20.3% $417,500 5.7% 5.7% $395,000 ATHERTON 23 $327,500 0.8% $317,500 5.8% -0.8% $320,000 TOL GA ^ 4 N/A N/A $407,500-3.6% -9.4% $450,000 S MARKET - UNITS & TOWNHOUSES CAIRNS (LGA) 233 $223,500-4.9% $226,000 2.7% -12.1% $257,000 BUNGALOW 10 N/A N/A $164,000 12.0% 7.5% $152,500 CAIRNS CITY 25 $367,500-9.3% $370,000 11.1% -17.4% $448,000 CAIRNS NORTH 30 $262,750 16.8% $240,000 5.3% -15.2% $283,000 EARLVILLE 2 N/A N/A $215,000 28.7% -17.9% $262,000 EDGE HILL 9 N/A N/A $187,000 13.3% -17.3% $226,000 EDMONTON 3 N/A N/A $183,097 28.5% 1.7% $180,000 FRESHWATER 3 N/A N/A $315,000 26.0% 21.2% $260,000 MANOORA 19 N/A N/A $164,000 6.5% -0.6% $165,000 MANUNDA 14 N/A N/A $150,000-0.7% -16.7% $180,000 MOOROOBOOL 8 N/A N/A $200,000-5.4% -3.6% $207,500 PALM COVE 17 N/A N/A $274,250-0.3% -23.8% $360,000 PARRAMATTA PARK 11 N/A N/A $248,500 2.5% 1.4% $245,000 TRINITY BEACH 19 N/A N/A $269,000 5.5% -5.6% $285,000 WESTCOURT 6 N/A N/A $222,000-5.5% 48.0% $150,000 WOREE 8 N/A N/A $125,500 0.4% -16.1% $149,500 YORKEYS KNOB 6 N/A N/A $209,000-5.4% -18.4% $256,000 SURROUNDS DOUGLAS (LGA) 46 $228,500 4.1% $219,000-10.6% -6.0% $233,000 PORT DOUGLAS 41 $225,000-2.2% $217,500-9.4% -5.4% $230,000 ATHERTON 2 N/A N/A $210,000 2.4% -11.6% $237,500 S MARKET - VACANT LAND CAIRNS (LGA) 59 $200,800-4.8% $207,000 2.5% 18.3% $175,000 EDMONTON 12 N/A N/A $153,950 10.7% 8.4% $142,000 GORDONVALE 3 N/A N/A $141,000 4.4% 14.2% $123,500 KANIMBLA 4 N/A N/A $250,000 2.0% 16.3% $215,000 KEWARRA BEACH 3 N/A N/A $247,500-10.3% -4.8% $260,000 REDLYNCH 5 N/A N/A $242,000 12.6% 38.3% $175,000 SMITHFIELD 6 N/A N/A $214,500 9.4% 19.2% $180,000 TRINITY PARK 6 N/A N/A $221,500-1.6% 18.8% $186,500 SURROUNDS CASSOWARY COAST (LGA) 14 N/A N/A $88,000 3.5% -34.8% $135,000 MISSION BEACH 2 N/A N/A $90,000-14.3% -40.0% $150,000 DOUGLAS (LGA) 12 N/A N/A $148,522-0.3% 4.2% $142,500 MAREEBA (LGA) 11 N/A N/A $95,000 5.6% -3.1% $98,000 MAREEBA 10 N/A N/A $95,000 3.8% -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 $360 454 $360 393 4865 GORDONVALE $320 15 $340 15 4868 MT SHERIDAN/ BAYVIEW HT/ TARRAWARRA/ WHITE ROCK/ WOREE $350 94 $350 67 4869 CENTENARY HTS/ CENTENARY PK/ EDMONTON/ TAMARIND GARDENS $335 52 $330 45 4870 CAIRNS & S OF CAIRNS $370 160 $370 151 CARAVONICA/ HOLLOWAYS BCH/ LAKE 4878 PLACID/ MACHANS BCH/ MCGREGOR/ $380 SMITHFIELD/ SMITHFIELD HTS/ 55 $360 49 YORKEYS KNOB BUCHAN PT/ CLIFTON BCH/ ELLIS BCH/ 4879 KEWARRA BCH/ PALM COVE/ TRINITY $395 75 $400 61 BCH/ TRINITY PK DOUGLAS SHIRE $350 33 $320 36 4873 MOSSMAN/ COOYA BEACH/ COW BAY/ MIALLO/ NEWELL/ WONGA $320 20 $315 25 4877 PORT DOUGLAS/ CRAIGLIE/ MOWBRAY/ OAK BEACH $420 13 $400 11 CASSOWARY COAST REGIONAL $295 102 $290 114 4849 CARDWELL $250 8 $280 10 4852 BINGIL BAY $320 18 $325 21 4854 BILYANA $300 19 $290 23 4858 COMOON LOOP $280 5 N/A N/A 4860 BAMBOO CREEK $280 44 $280 53 TABLELANDS REGIONAL $295 93 $290 82 4872 DIMBULAH/ KAIRI/ MT GARNETT/ TINAROO/ WALKAMIN $280 12 $300 7 4882 TOLGA $350 6 $295 6 4883 ATHERTON/ UPPER BARON $300 37 $290 39 4884 YUNGABURRA/ LAKE EACHAM $280 6 $330 9 4885 MALANDA/ TARZALI/ JAGGAN $280 11 $280 11 4887 HERBERTON/ WONDECLA $280 6 N/A 4 4888 RAVENSHOE/ EVELYN/ MILLSTREAM $250 12 $275 6 MAREEBA SHIRE $305 56 $300 59 4880 MAREEBA/ BIBOOHRA $300 38 $300 45 4881 KURANDA/ KOAH/ SPEEWAH $320 18 $360 14 MARCH QUARTER 2016 45

REGIONAL MARKET UPDATES RENTAL MARKET - 2 BED UNITS POST MAR-16 MAR-15 CODE LOCALITY L $/WEEK NEW BONDS $/WEEK NEW BONDS CAIRNS REGIONAL $290 847 $290 864 4868 MT SHERIDAN/ BAYVIEW HTS/ TARRAWARRA/ WHITE ROCK/ WOREE $265 76 $250 95 4869 CENTENARY HTS/ CENTENARY PK/ EDMONTON/ TAMARIND GARDENS $240 14 $250 16 4870 CAIRNS & S OF CAIRNS $290 562 $290 528 4878 CARAVONICA/ HOLLOWAYS BCH/ LAKE PLACID/ MACHANS BCH/ MCGREGOR/ SMITHFIELD/ SMITHFIELD HTS/ $290 92 $290 90 YORKEYS KNOB 4879 BUCHAN PT/ CLIFTON BCH/ ELLIS BCH/ KEWARRA BCH/ PALM COVE/ TRINITY $300 99 $310 128 BCH/ TRINITY PK DOUGLAS SHIRE $290 57 $280 83 4873 MOSSMAN/ COOYA BEACH/ COW BAY/ MIALLO/ NEWELL/ WONGA $200 7 $200 22 4877 PORT DOUGLAS/ CRAIGLIE/ MOWBRAY/ OAK BEACH $290 50 $290 61 CASSOWARY COAST REGIONAL $220 99 $200 85 4849 CARDWELL $195 8 N/A N/A 4852 BINGIL BAY $250 25 $230 22 4854 BILYANA $145 27 $210 11 4860 BAMBOO CREEK $230 38 $193 49 TABLELANDS REGIONAL $210 28 $230 35 4883 ATHERTON/ UPPER BARON $220 20 $235 28 MAREEBA SHIRE $250 27 $250 25 4880 MAREEBA/ BIBOOHRA $250 25 $250 21 RENTAL MARKET - 3 BED TOWNHOUSES CAIRNS REGIONAL $350 20 $370 13 4870 CAIRNS & S OF CAIRNS $350 13 $330 6 4861 BABINDA/ BARTLE FRERE DOUGLAS SHIRE $385 10 N.A. 4 4877 PORT DOUGLAS/ CRAIGLIE/ MOWBRAY/ OAK BEACH $385 10 N/A 3 46 QUEENSLAND MARKET MONITOR

OTHER REGIONAL S MARKET - HOUSES S SOUTH-WEST MARANOA (LGA) 14 N/A N/A $245,000-14.0% -13.7% $284,000 ROMA 11 N/A N/A $260,000-15.0% -11.9% $295,000 CHARLEVILLE 1 N/A N/A $110,000-1.1% -22.8% $142,500 NORTH-WEST MOUNT ISA (LGA) 22 $291,500-2.2% $325,000-7.7% -6.2% $346,500 COOKTOWN 2 N/A N/A $275,000 22.0% -16.0% $327,500 S MARKET - VACANT LAND TABLELANDS (LGA) 8 N/A N/A $105,000 5.0% -10.3% $117,000 ATHERTON 3 N/A N/A $100,000 0.0% -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 $185 29 $280 24 4455 ROMA $185 26 $280 23 CENTRAL WEST NORTH WEST CLONCURRY SHIRE $250 8 N/A 8 4824 CLONCURRY $250 8 $220 8 MOUNT ISA CITY $250 74 $290 90 4825 ALEXANDRIA $250 74 $290 90 FAR NORTH COOK SHIRE $270 8 $250 11 4895 BLOOMFIELD N/A 3 $265 9 RENTAL MARKET - 3 BED HOUSES SOUTH WEST BALONNE SHIRE $250 17 $240 19 4487 ST GEORGE $250 14 $240 17 MARANOA REGIONAL $230 72 $350 51 4455 ROMA $250 60 $350 39 MURWEH $215 17 $230 19 4470 CHARLEVILLE $215 16 $230 19 CENTRAL WEST LONGREACH $225 17 $260 23 4730 BRIXTON $230 15 $260 21 BLACKALL-TAMBO $200 6 N/A N/A 4472 BLACKALL $200 6 N/A N/A NORTH WEST CLONCURRY SHIRE $300 8 $360 15 4824 CLONCURRY $300 8 $360 15 MOUNT ISA CITY $380 105 $430 110 4825 ALEXANDRIA $380 105 $430 110 FAR NORTH COOK SHIRE $300 26 $280 27 4871 ALMADEN $300 18 $240 16 4895 BLOOMFIELD $350 7 $330 9 MARCH QUARTER 2016 47

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 2016* 2015 2016* 2015 2016* 2015 PTS PTS BRISBANE SD 44,647 49,875 7.0% 7.9% 67 66-5.5% -5.7% -10% -0.8% 0 0.2% BRISBANE 19,782 21,391 6.5% 7.0% 57 57-5.5% -5.6% -8% -0.5% 0 0.0% IPSWICH 4,397 5,427 7.1% 8.7% 82 81-6.1% -6.6% -19% -1.7% 1 0.5% LOGAN 6,717 7,360 7.6% 8.3% 70 76-5.2% -5.6% -9% -0.7% -5 0.4% MORETON BAY 9,728 11,152 7.5% 8.6% 71 72-5.1% -5.4% -13% -1.1% -0 0.3% REDLAND 4,023 4,545 8.0% 9.1% 75 71-5.6% -5.8% -11% -1.0% 4 0.2% GOLD COAST 10,043 11,329 8.0% 9.0% 68 72-5.4% -6.0% -11% -1.0% -4 0.6% SUNSHINE COAST SD 8,702 11,044 8.5% 10.8% 89 88-5.8% -5.9% -21% -2.3% 1 0.1% SUNSHINE COAST 6,923 8,481 8.4% 10.3% 85 84-5.6% -5.7% -18% -1.9% 0 0.1% NOOSA 1,779 2,563 9.2% 13.2% 107 104-6.6% -6.7% -31% -4.1% 3 0.1% FRASER COAST 3,609 4,880 9.7% 13.1% 115 108-7.8% -7.9% -26% -3.4% 7 0.1% CAIRNS 3,582 3,727 7.9% 8.3% 72 66-6.4% -5.8% -4% -0.3% 6-0.6% BUNDABERG 2,913 3,806 8.7% 11.4% 103 99-7.9% -8.0% -23% -2.7% 5 0.1% GLADSTONE 1,516 2,197 6.9% 10.0% 99 113-10.2% -10.0% -31% -3.1% -14-0.2% MACKAY 2,586 3,497 6.8% 9.2% 107 105-12.2% -10.6% -26% -2.4% 2-1.6% ROCKHAMPTON 2,247 2,848 8.1% 10.3% 104 97-9.8% -9.0% -21% -2.2% 7-0.8% TOOWOOMBA 4,217 4,704 8.5% 9.5% 72 63-5.9% -4.7% -10% -1.0% 8-1.2% TOWNSVILLE 4,109 5,261 6.9% 8.8% 96 92-9.2% -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 140 120 2015 2016* 100 80 60 40 20 0 0.0% 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% 2015 2016* Average Vendor Discounting - HOUSES 48 QUEENSLAND MARKET MONITOR

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 2016* 2015 2016* 2015 2016* 2015 PTS PTS BRISBANE SD 14,624 15,393 7.7% 8.1% 76 73-5.0% -5.1% -5% -0.4% 3 0.1% BRISBANE 9,971 9,860 7.0% 6.9% 69 63-4.7% -4.7% 1% 0.1% 5-0.0% IPSWICH 501 558 9.8% 10.9% 107 114-6.9% -7.4% -10% -1.1% -7 0.6% LOGAN 1,455 1,758 10.2% 12.3% 87 97-5.5% -6.2% -17% -2.1% -10 0.7% MORETON BAY 2,015 2,423 9.0% 10.9% 102 101-5.8% -5.8% -17% -1.8% 2-0.1% REDLAND 682 794 9.5% 11.0% 88 90-5.2% -5.4% -14% -1.6% -2 0.2% GOLD COAST 11,247 13,139 9.2% 10.8% 88 91-5.7% -6.5% -14% -1.6% -3 0.8% SUNSHINE COAST SD 4,671 5,876 9.5% 12.0% 107 105-6.2% -6.4% -21% -2.5% 1 0.3% SUNSHINE COAST 3,649 4,515 9.5% 11.7% 104 103-6.1% -6.3% -19% -2.3% 1 0.2% NOOSA 1,022 1,361 9.7% 12.9% 117 112-6.5% -6.9% -25% -3.2% 5 0.4% FRASER COAST 591 811 12.7% 17.4% 127 104-7.6% -5.7% -27% -4.7% 22-1.9% CAIRNS 2,105 2,197 9.7% 10.1% 89 86-7.2% -7.1% -4% -0.4% 4-0.1% BUNDABERG 421 544 11.5% 14.8% 123 152-8.0% -8.4% -23% -3.4% -30 0.4% GLADSTONE 246 344 6.4% 9.0% 131 130-10.9% -13.3% -28% -2.6% 1 2.4% MACKAY 474 655 7.5% 10.4% 118 144-15.1% -14.0% -28% -2.9% -27-1.1% ROCKHAMPTON 182 247 7.9% 10.7% 111 121-7.2% -7.9% -26% -2.8% -9 0.7% TOOWOOMBA 623 616 8.3% 8.2% 90 69-4.7% -4.4% 1% 0.1% 21-0.3% TOWNSVILLE 1,201 1,625 9.7% 13.1% 112 122-9.3% -9.2% -26% -3.4% -10-0.0% * Figures are preliminary Source: REIQ. Data supplied by CoreLogic RP Data Market Trends 180 160 2015 2016* Average Days On Market - UNITS *12mths to the end of February Source: REIQ, data supplied by CoreLogic RP Data 140 120 100 80 60 40 20 0 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% 2015 2016* Average Vendor Discounting - UNITS MARCH QUARTER 2016 49

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 2.5-3.5% Weak >3.5% Source: REIQ Residential Rental Survey Queensland Market Monitor is published by The Real Estate Institute of Queensland (REIQ). ABN 49 009 661 287 Sales data obtained from Core Logic RP Data (www.corelogic.com.au) and median weekly rental data from the Residential Tenancies Authority (www.rta.qld.gov.au). 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) 2015. 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 07 3249 7347 50 QUEENSLAND MARKET MONITOR

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 Email 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 07 3249 6201 PHONE Visa Credit card number MasterCard Expiry Amount 07 3249 7301 EMAIL 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 WWW.REIQ.COM/PRIVACY ALTERNATIVELY, YOU MAY REQUEST A COPY BY: MAIL: PO BOX 1555, COORPAROO DC QLD 4151 EMAIL:PRIVACY@REIQ.COM.AU PHONE: (07) 3249 7347 I ACKNOWLEDGE THAT I HAVE READ AND UNDERSTOOD THE REIQ S PRIVACY POLICY *all prices include GST OFFICAL USE ONLY ID INV AUTH DATE

SAVE THE DATE! 6-7 October REIQ SUMMIT 16 set your altitude ROYAL INTERNATIONAL CONVENTION CENTRE (RNA SHOWGROUNDS) RESERVE YOUR SEAT NOW. EMAIL EVENTS@REIQ.COM.AU TO BE ADDED TO THE PRE-BOOKING LIST. www.reiqsummit.com.au