TAS Market Report Dec 2015 - Preston Rowe Paterson. Australia

Transcription

TAS Market Report Dec 2015 - Preston Rowe Paterson. Australia
1
Property Market Report
Tasmania
ABOUT THIS REPORT
Preston Rowe Paterson prepare standard research reports covering the main markets
within which we operate in each of our capital cities and major regional locations.
The markets covered in this research report include the commercial office market,
industrial market, retail market, hotel and leisure market and residential market as well as
economic factors impacting on the real estate markets within we operate.
We regularly undertake valuations of commercial, retail, industrial, hotel and leisure,
residential and special purpose properties for many varied reasons, as set out later herein.
We also provide property management services, asset and facilities management services
for commercial, retail, industrial property as well as plant and machinery valuation.
To compile the research report we have considered the most recently available statistics
from known sources. Given the manner in which statistics are compiled and published they
are usually 3-6 months out of date at the time we analyse them. Where possible we
consider short term movement in the statistics by looking at daily published data in the
financial press. Where this shows notable fluctuation, when compared to the formal
published numbers we have commented accordingly.
Phone: +61 2 9292 7400
Fax: +61 2 9292 7404
Address: Level 14, 347 Kent Street Sydney NSW 2000
Email: research@prpsydney.com.au
Follow us: Visit www.prp.com.au
© Copyright Preston Rowe Paterson Australasia Pty Limited
December quarter 2015
INSIDE THIS ISSUE:
Hobart Office Market
2
Retail Market
3
Residential Market
4
Regional Market
6
Economic Fundamentals
7
About Preston Rowe
Paterson
9
Contact Us
11
1
COMMERCIAL OFFICE MARKET
Hobart CBD
Additional Supply and Withdrawals
Hobart CBD
Source: PCA/Preston Rowe Paterson Research
16,000
14,000
Office Space (sqm)
12,000
10,000
Withdrawals
8,000
Supply Additions
6,000
4,000
2,000
The development of
Montpelier Project located
at 2 Montpelier Retreat,
Battery Point within the
Salamanca business
precinct had had its DA
approved. The mix-use
development will include
2,000 sqm of office space
over a single level and
6,000 sqm of retail space.
The average floorplate size is approximately 2,000 sqm. The
development comprise of a set of 5 buildings providing
apartments and serviced apartments, wellness centre, public
open space, underground car park with 430 car spaces (360
are public car spaces). The project is expected to be
completed in the 2nd quarter of 2017.
Jul-15
Jul-14
Jan-15
Jul-13
Jan-14
Jul-12
Jan-13
Jul-11
Jan-12
Jul-10
Jan-11
Jul-09
Jan-10
Jul-08
Jan-09
Jul-07
Jan-08
Jul-06
Jan-07
Jul-05
The Property Council of Australia’s (PCA) Office Market
Report July 2015 have recorded the following office
developments in the Hobart CBD office pipeline.
Chart 1 – Hobart CBD Office Additional Supply & Withdrawals – Source
PCA
The Hobart CBD office market was dominated by A Grade
stock which totals to about 188,420 sqm. The B and C Grade
stock levels were similar, accounting for 70,526 sqm and 68,755
sqm respectively. D Grade stock level totalled to 35,381 sqm.
Hobart CBD Total Stock by Grade
400,000
Source: PCA/Preston Rowe Paterson
350,000
300,000
Stock Levels (sqm)
Development Sites
Jan-06
0
250,000
A Grade
B Grade
200,000
C Grade
D Grade
150,000
100,000
50,000
Jul-95
Jan-96
Jul-96
Jan-97
Jul-97
Jan-98
Jul-98
Jan-99
Jul-99
Jan-00
Jul-00
Jan-01
Jul-01
Jan-02
Jul-02
Jan-03
Jul-03
Jan-04
Jul-04
Jan-05
Jul-05
Jan-06
Jul-06
Jan-07
Jul-07
Jan-08
Jul-08
Jan-09
Jul-09
Jan-10
Jul-10
Jan-11
Jul-11
Jan-12
Jul-12
Jan-13
Jul-13
Jan-14
Jul-14
Jan-15
Jul-15
0
Supply by Grade (Stock)
According to the PCA Office Market Report July 2015, the
Hobart CBD total stock level had remained stable surmising to
363,082 sqm. In the six months to July, there were no recorded
additional supply and withdrawals in the Hobart CBD market.
Phone: +61 2 9292 7400
Fax: +61 2 9292 7404
Address: Level 14, 347 Kent Street Sydney NSW 2000
Email: research@prpsydney.com.au
Follow us: Visit www.prp.com.au
© Copyright Preston Rowe Paterson Australasia Pty Limited
Chart 2 – Hobart CBD Total Stock by Grade– Source PCA
Total Vacancy
The Hobart CBD office market total vacancy rate remain
unchanged in the six months to July 2015. The total office
vacancy in Hobart was recorded at 8.9%, of which 7.2% was
direct vacancy and 1.7% was sub-lease vacancy.
2
prth- 2
RETAIL MARKET
On a year on year analysis, the Hobart CBD A Grade vacancy
rate increased by 2.6% to 5.7%. Similarly the C Grade and D
Grade vacancy rates both grew by 2% to 13% and 10.5%
respectively. The only recorded tightening in vacancy was in
the B Grade office stock which fell by 1.9% to 12.7%.
Hobart CBD Commercial
Vacancy Rates
12.0
Vacancy Rate (%)
10.0
8.0
6.0
Investment Activity
4.0
Preston Rowe Paterson Research has recorded the following
major sales transactions that occurred in the Tasmania retail
market during the three months to December 2015;
2.0
0.0
Jul-06
Jul-07
Jul-08
Source: PCA/Preston Rowe Paterson Research
Jul-09
Jul-10
Jul-11
Jul-12
Jul-13
Jul-14
Direct Vacancy Sub-Lease Vacancy
Chart 3 – Hobart CBD Commercial Vacancy Rates – Source PCA
Jul-15
350 Main Road, Glenorchy, TAS
7010
Elanor Investors Group has
bought the regional shopping
centre Glenorchy Plaza for
$18.5 million on a fully leased
yield of 8.2%. The company
purchased the 11,920 sqm, two
-level complex from a private
syndicator. The property is
anchored by a 6,874 sqm Big W, leased to June 2025 with four
5 year options. It is also tenanted by 14 speciality retailers. The
sale reflected a rate of $1,552 psm. Glenorchy is located
around 7.1 km north-west of the Hobart CBD.
74-78 Elizabeth Street, Hobart TAS 7000
The well-maintained, freestanding building was sold for $5.8
million. The three storey building has an area of 2,473 sqm with
two street frontages to Elizabeth and Criterion Streets. The site
are is about 870 sqm. The building is fully leased with national
tenants including Sheridan, Ella Bache, Ishka and AAF Gym. It is
located within the retail core of Hobart CBD, metres to the
Elizabeth Street Mall and the new Myer and Crowne Plaza
Hotel development. The sale reflected a rate of $2,345.33 psm.
Economic Statistics
According to the Australian Bureau of Statistics category Retail
Trade (December 2015), the retail turnover figures recorded in
Tasmania produced negative results. The Tasmanian total
industry retail turnover decreased by –0.6% over the month of
December resulting in total turnover for the month of $484.6
million. However, this is a 5% increase when compared to
December 2014 monthly turnover results.
Phone: +61 2 9292 7400
Fax: +61 2 9292 7404
Address: Level 14, 347 Kent Street Sydney NSW 2000
Email: research@prpsydney.com.au
Follow us: Visit www.prp.com.au
© Copyright Preston Rowe Paterson Australasia Pty Limited
3
prth- 3
RESIDENTIAL MARKET
Tasmania Retail Turnover
500.0
Economic Statistics
4.0
3.5
475.0
3.0
Retail Turnover $ million
2.0
1.5
425.0
1.0
400.0
0.5
0.0
375.0
-0.5
-1.0
350.0
-1.5
Monthly Percentage Change (%)
2.5
450.0
-2.0
325.0
-2.5
Source: ABS/Preston Rowe Paterson Research
Dec-15
Oct-15
Nov-15
Sep-15
Jul-15
Aug-15
Jun-15
Apr-15
May-15
Mar-15
Jan-15
Retail Turnover
Feb-15
Dec-14
Oct-14
Nov-14
Sep-14
Jul-14
Aug-14
Jun-14
Apr-14
May-14
Mar-14
Jan-14
Feb-14
-3.0
Dec-13
300.0
According to the Australian Bureau of Statistics category
8731.0 Building Approvals December 2015, the total number
of house dwelling approvals in the Hobart Statistical Division
over the month has increased by 27% from 51 approvals to 65
approvals. In comparison to December 2014, dwelling
approvals realised a decline of –29%. The monthly total
number of non-house dwelling approvals fell from 29
approvals to 8 approvals in December. In comparison to
December 2014 this reflected a decrease of –26%.
The Hobart dwellings market has recorded a total number of
1207 dwelling approvals in 2015.
% Change
Hobart SD Dwelling Approvals
Chart 4 – Tasmania Retail Turnover – Source ABS
1,600
1,400
1,200
Annual Approvals
The Tasmanian retail market reflected mixed results across
industries over the month of December. The largest monthly
increase was Café, restaurants and takeaway service, which
grew by 4.7% to a monthly turnover of $49.1 million. Food
retailing recorded a meagre increase of 0.05% to a monthly
turnover of $205 million. The Clothing, footwear and accessory
retailing and Household goods retailing monthly turnover
decreased by –1.5 % and –1.2% to $31.9 million and $96.1
million respectively.
1,000
800
600
400
200
Tasmania Retail Turnover
% Monthly Change
0.1
0
2005
0.08
0.06
2006
2007
2008
Source: ABS / Preston Rowe Paterson Research
2009
2010
Houses
2011
2012
2013
2014
2015
Other
Monthly % Change
0.04
Chart 6 – Hobart SD Dwelling Approvals – Source ABS
0.02
0
Jun-2014
Sep-2014
Dec-2014
Mar-2015
Jun-2015
Sep-2015
Dec-2015
-0.02
Hobart
-0.04
Market Affordability
-0.06
-0.08
-0.1
-0.12
Food Retailing
Household goods
Clothing, Footwear
Cafe, Restaurants
Source: ABS/Preston Rowe Paterson Research
Chart 5 – Tasmania Turnover % Monthly Change – Source PCA
Year on year analysis revealed growth in Tasmanian retail.
Clothing, footwear and accessory retailing recorded the
largest annual growth of 8.1%, followed by Household goods
retail increasing by 7%. Café, restaurants and takeaway
services showed a 3.4% annual increase and Food retailing
recorded a –0.6% decline.
Phone: +61 2 9292 7400
Fax: +61 2 9292 7404
Address: Level 14, 347 Kent Street Sydney NSW 2000
Email: research@prpsydney.com.au
Follow us: Visit www.prp.com.au
© Copyright Preston Rowe Paterson Australasia Pty Limited
According to the Real Estate Institute of Australia (REIA)
September quarter 2015, the Hobart median house price has
decreased by –5.2% over the quarter to $357,000. A decline of
–0.8% was recorded over the twelve months to September.
The overall Hobart market shown growth in median sales
price.
The highest quarterly growth in median house sales prices was
Inner Hobart houses recording at 6.1% to a median price of
$520,000, followed by Middle Hobart at 0.9% to $322,800.
Outer Hobart median sales price fell by –2.2% to $350,800.
Similarly the year on year analysis revealed mixed results on
Hobart house sales price. Outer Hobart recorded an annual
decline of –2.6%, Inner & Middle Hobart recorded an annual
growth of 5.5% and 4.7% respectively.
4
prth- 4
Median House Price by Zone
$550,000
7.0%
Median Price
5.0%
4.0%
$450,000
3.0%
$400,000
2.0%
1.0%
$350,000
0.0%
$300,000
-1.0%
Quarterly Percentage Change (%)
6.0%
$500,000
The largest quarterly decline in median weekly rent was Outer
Hobart 3 bedroom tightening by –7.7% ($300), followed by
Middle Hobart 3 & 4 bedroom and Outer Hobart 2 bedroom
rents declining by –3.2% ($300), -5% ($380) and –4.9% ($290)
respectively.
Year on year analysis also revealed decreases in Hobart
median house rents. The largest annual decline was recorded
in the Inner Hobart 4 bedroom house at –7.8% to $450 median
weekly rent. Outer Hobart 2 bedroom house rent recorded the
highest annual growth at 7.4%.
-2.0%
$250,000
-3.0%
$200,000
Median Weekly Rents for Houses by Zone
-4.0%
Source: REIA/Preston Rowe Paterson Research
Hobart Middle
Hobart Outer
Launceston
North-West Centres
$500
$450
Median House Price Quarterly % Change
$400
Chart 7 – Median House Price by Zone – Source REIA
The other dwellings median sales prices in Hobart increased in
the September quarter by 6.2% to $289,000. Inner Hobart
other dwelling median sales price grew by 12.2% to $335,000
and Middle Hobart other dwelling increased by 7.9%. Outer
Hobart other dwelling median sales price decreased by –9.2%
to $271,500.
Weekly Median Rent
Hobart Inner
$350
$300
$250
$200
$150
$100
Year on year analysis revealed positive results recorded as at
September 2015. Annual growth in median sales price was
recorded in Inner, Middle & Outer Hobart other dwellings by
10.7%, 0.8% and 4.4% respectively.
Median Price for Other Dwellings by Zone
$325,000
15.00%
10.00%
Median Price
$275,000
$250,000
5.00%
$225,000
0.00%
$200,000
$175,000
-5.00%
Quarterly Percentage Change (%)
$300,000
$150,000
-10.00%
$125,000
$100,000
-15.00%
Hobart Inner
Source: REIA/Preston Rowe Paterson Research
Hobart Middle
Hobart Outer
Other Dwelling Price
Launceston
North-West Centres
Quarterly % Change
Chart 8 – Median Price for Other Dwellings by Zone – Source REIA
Hobart Inner
Source: REIA/Preston Rowe Paterson Research
Hobart Middle
2 Bed House
Hobart Outer
3 Bed House
Launceston
North-West Centres
4 Bed House
Chart 9 – Median Weekly Rents for Houses by Zone – Source REIA
Mixed quarterly results were recorded for the Hobart other
dwelling median weekly rents. The largest quarterly growth in
median weekly rent was Outer Hobart 3 bedroom which
increased by 9.2% to $355. Followed by Inner 1 bedroom and
Middle 2 bedroom other dwelling rents increasing by 2.4%
and 2% to $210 and $250 respectively.
Middle Hobart 1 bedroom recorded the largest median
weekly rent decrease of –11.6% to $175. Rents in Inner & Outer
Hobart 2 bedroom both fell by –1.7% to $295 and $285
respectively.
Outer Hobart 1 bedroom rents remain unchanged to median
weekly rent of $175.
The year on year analysis of Hobart other dwellings rentals has
revealed positive results. The highest annual growth was
recorded in Outer Hobart 3 bedroom other dwellings at 26.8%
and the largest annual decrease in rent was Inner Hobart 1
bedroom other dwellings at –8.7%.
Rental Market
The September quarter revealed negative results in Hobart
house rents. The only recorded quarterly increase in rent was
Inner & Middle Hobart 2 bedroom house which grew by 7.5%
and 9.6% to $360 and $285 respectively.
Phone: +61 2 9292 7400
Fax: +61 2 9292 7404
Address: Level 14, 347 Kent Street Sydney NSW 2000
Email: research@prpsydney.com.au
Follow us: Visit www.prp.com.au
© Copyright Preston Rowe Paterson Australasia Pty Limited
5
prth- 5
Median Weekly Rents for Other Dwellings by Zone
$450
The median house rents in North-West Centres has tightened in
the quarter. 3 bedroom house rents recorded the largest fall of
–13.2% to $230. 2 bedroom rents decreased by –7.7% to $203
and 4 bedroom rents declined by –1% to $300.
$400
Weekly Median Rent
Rental Market
$350
North-West Centres other dwelling 1 bedroom median rents
decreased by -26.3% to $140. 3 bedroom rents fell by –7.7% to
$263 and 2 bedroom rents declined by –1.5% to $197.
$300
$250
$200
$150
$100
Hobart Inner
Hobart Middle
1 Bed Unit
Hobart Outer
2 Bed Unit
Launceston
North-West Centres
REGIONAL MARKET
3 Bed Unit
Source: REIA/Preston Rowe Paterson Research
Chart 10 – Median Weekly Rents for Other Dwellings by Zone – Source REIA
Launceston
Preston Rowe Paterson Research recorded the following
significant sales transactions that occurred in the Regional
Market, during the three months to December 2015;
Market Affordability
Office
The Launceston median house price increased by 3.7% to
$280,000 over the September quarter, reflecting an annual
growth of 5.7%. Other dwellings median sales price increased
by 21% to $233,500, reflecting a 3.8% annual growth.
6-18
George
Street,
Launceston TAS 7250
The Courtyard commercial
complex was sold to a private
investor for $2.7 million. The
1,783 sqm property is fully
tenanted with three tenants
and has a courtyard-styled car
parking. Launceston is located
about 198 km north of Hobart.
Rental Market
The Launceston rental market revealed mixed results. House
median weekly rents grew in 2 bedroom house by 2.9% to
$250, and fell in 3 & 4 bedroom house by –3.4% and –10.5% to
$280 and $340 respectively.
The other dwelling median rents increased in 1 & 2 bedroom
other dwellings by 5.9% and 2.3% to $215 and $220
respectively. 3 bedroom other dwelling median weekly rent
decreased by –6.5% to $290.
North-West Centres
Market Affordability
The North-West Centres median house price fell by –2.6% to
$240,000 over the September quarter. Other dwellings median
sales price decreased by –8% to $200,000, and –7% in the year
to September 2015.
Phone: +61 2 9292 7400
Fax: +61 2 9292 7404
Address: Level 14, 347 Kent Street Sydney NSW 2000
Email: research@prpsydney.com.au
Follow us: Visit www.prp.com.au
© Copyright Preston Rowe Paterson Australasia Pty Limited
6
prth- 6
ECONOMIC FUNDAMENTALS
GDP
The media release also stated that inflation is as expected to
be consistent.
GDP figures for the December quarter 2015 are not available
until the 2nd March 2016, however, over the September 2015
quarter revealed that the Australian economy recorded
growth of 0.9% seasonally adjusted which reflected growth of
2.5% seasonally adjusted over the twelve months to September
2015.
Interest Rate Movements
7.0
6.0
Percentage (%)
5.0
In seasonally adjusted terms, the main industry gross value
added contributors to GDP were Financial and insurance
services (+0.5%), Healthcare (+0.3%) and Mining (+0.3%). In
trend terms, the largest detractor was Manufacturing (-0.1%).
4.0
3.0
2.0
1.0
Gross Domestic Product
3.0
Dec-15
Jun-15
Sep-15
Mar-15
Sep-14
Dec-14
Jun-14
Dec-13
Mar-14
Jun-13
Sep-13
Dec-12
Mar-13
Jun-12
Source: RBA /Preston Rowe Paterson Research
Series1
300,000.0
2.0
250,000.0
1.0
200,000.0
0.0
Percentage (%)
150,000.0
Chart 13 – Cash Rate—Source RBA
CPI
-1.0
As at the date of publishing, the official Cash Rate over the
December quarter 2015 has remain steady at 2%. The Reserve
Bank of Australia’s Media Release for December 2015, released
1st December 2015 explained that;
80.0
60.0
40.0
20.0
Source: ABS/Preston Rowe Paterson Research
All Groups CPI - Australia
Dec-15
Jun-15
Jun-14
Dec-14
Dec-13
Jun-13
Dec-12
Jun-12
Dec-06
0.0
Annual % Change
8
7.5
7
6.5
6
5.5
5
4.5
4
3.5
3
2.5
2
1.5
1
0.5
0
-0.5
100.0
Aus All Groups
“The global economy is expanding in a moderate pace, with
some further softening in conditions in Asia region, continuing
growth in US and a recovery in Europe. Key commodity prices
are much lower than a year ago, reflecting increased supply,
including Australia, as well as weaker demand. Australia’s terms
of trade are falling… In Australia the available information
suggests moderate expansion in the economy continues in the
face of a large decline in capital spending in the mining
sector. While GDP growth has been somewhat below longterm averages for some time, business surveys suggests a
gradual improvement in conditions in non-mining sectors over
the part year. This has been accompanied by stronger growth
in employment and a steady rate of unemployment… Inflation
is forecast to be consistent with the target over the next one or
two years.”
Consumer Price Index
120.0
Jun-11
Interest Rates
Dec-11
Chart 11 – Gross Domestic Product (GDP) – Source ABS
The most significant price rises over the December quarter
were Tobacco (+7.4), Domestic holiday travel and
accommodation (+5.9%) and International holiday travel and
accommodation (+2.4% ). The greatest price fall over the
quarter was attributed to are Automotive fuel (-5.7% ),
Telecommunication equipment and services (-2.4%) and Fruit
(-2.6%).
Jun-10
% Change Seasonally Adjusted
Dec-10
Gross Domestic Product Seasonally Adjusted
Jun-09
Source: RBA /Preston Rowe
Paterson Research
Dec-09
-3.0
Dec-08
0.0
According to the Australian Bureau of Statistics (December
2015), the Australia’s All Groups CPI increased by 0.4% over
the December quarter from 108 to 108.4. The annual CPI
change to December 2015 recorded a growth of 1.7%.
Jun-08
-2.0
Mar-07
Jun-07
Sep-07
Dec-07
Mar-08
Jun-08
Sep-08
Dec-08
Mar-09
Jun-09
Sep-09
Dec-09
Mar-10
Jun-10
Sep-10
Dec-10
Mar-11
Jun-11
Sep-11
Dec-11
Mar-12
Jun-12
Sep-12
Dec-12
Mar-13
Jun-13
Sep-13
Dec-13
Mar-14
Jun-14
Sep-14
Dec-14
Mar-15
Jun-15
Sep-15
50,000.0
Dec-07
100,000.0
Jun-07
GDP Millions
350,000.0
0.0
Sep-12
4.0
Mar-12
400,000.0
Sep-11
5.0
Dec-11
450,000.0
Annual % Change
Chart 14 – Consumer Price Index – Source RBA
Phone: +61 2 9292 7400
Fax: +61 2 9292 7404
Address: Level 14, 347 Kent Street Sydney NSW 2000
Email: research@prpsydney.com.au
Follow us: Visit www.prp.com.au
© Copyright Preston Rowe Paterson Australasia Pty Limited
7
prth- 7
10 Year Bond & 90 Day Bill Rate
Over the December 2015 quarter, the 10 Year Government
Bonds recorded an increase of 16 basis points from 2.7%. The
90 Day Bill Rate recorded a 17 basis points growth over the
quarter from 2.34%.
7.00
825,000
6.50
6.00
775,000
5.50
725,000
5.00
675,000
4.50
625,000
4.00
575,000
3.50
525,000
Unemployed Persons
Jun-15
Dec-15
Jun-14
Dec-14
Jun-13
Dec-13
Jun-12
Dec-12
Jun-11
Dec-11
Jun-10
Dec-10
Jun-09
Dec-09
Jun-08
Dec-08
Jun-07
2.00
Dec-07
2.50
425,000
Source: ABS/Preston Rowe Paterson Research
90 Day Bank Bill Rate, 10 year Government Bond Yield
and Cash Rate - Monthly
8.00
3.00
475,000
Dec-06
In the twelve months to December 2015, the monthly 10 Year
Bond Rate has decreased by 11 basis points from 2.96%.
Similarly, the monthly 90 Day Bill Rate fell by 41 basis points
from 2.75%.
Unemployment rate (%)
Analysis of the daily 10 Year Government Bonds has revealed
no changes to the rate over the month of December at 2.85%.
The 90 day bill rates had increased by 12 basis points to the
month end of 2.34%. The changes in both 10 year bonds and
the 90 day bill rate reflect a yield spread of 17 basis points.
Unemployed persons
Unemployment (Rate and Persons)
875,000
Unemployment Rate
Chart 12 – Unemployment – Source ABS
7.00
Consumer Sentiment
Percentage (%)
6.00
5.00
The Westpac Melbourne Institute of Consumer Sentiment Index
fell by 0.8% from 101.7 index points in November to 100.8 index
points in December. Over the December quarter the index has
increased by 6.9 points and recorded a 10.65% annual growth.
4.00
3.00
2.00
1.00
Source: RBA /Preston Rowe Paterson Research
90 Day Bill
Dec-15
Jun-15
Sep-15
Dec-14
Mar-15
Jun-14
Sep-14
Dec-13
Mar-14
Jun-13
Sep-13
Dec-12
10 Yr Bond
Mar-13
Jun-12
Sep-12
Dec-11
Mar-12
Jun-11
Sep-11
Dec-10
Mar-11
0.00
Cash Rate
Chart 15– 90 Day Bill, 10 year bond and cash rate – MONTHLY – Source
RBA
Westpac’s Economist, Bill Evans commented; “The Index has
held on to most of the gains from (November’s) 4% lift and is
10.7% above its levels this time last year...The most important
(sentiment) change was around ‘budget and taxation’ with
the proportion of respondents assessed as considerably less
favourable. Presumably speculation around tax changes,
particularly with respect to the GST...Confidence around the
housing market continues to deteriorate...housing-related
sentiment continues to show sharper falls and considerably
weaker reads in NSW and VIC.”
Labour force
110
100
90
80
70
Dec-15
Jun-15
Dec-14
Jun-14
Jun-13
Dec-13
Jun-12
Dec-12
Jun-11
Dec-11
Jun-10
Dec-10
Jun-09
Dec-09
Jun-08
Dec-08
Jun-07
Source: RBA /Preston Rowe Paterson Research
Dec-07
Dec-06
60
Jun-06
Tasmania experienced a large absolute decrease in seasonally
adjusted employment by 3,790 persons to 237,500 persons over
the month of December. The unemployment status in
Tasmania over the quarter increased by 0.8% to 6.8%.
120
Dec-05
The number of unemployed seeking full time employment
recorded a decrease in December by 2,600 to 515,000
persons. The number of unemployed seeking part time
employment also decreased over the month by 8,400 to
212,500 persons.
Consumer Sentiment Index
130
Consumer Sentiment
Over the month to December 2015, the number of
unemployed people has declined by 10,900 from 738,400 in
November to 727,500 in December, reflecting a –0.1%
decrease. In comparison to December 2014, the number of
unemployed people had decreased by 27,300 reflecting an
annual decline of –3.6%. The unemployment rate was 5.8% as
at December 2015.
Consumer Sentiment Index
Chart 16 –Consumer Sentiment Index—Source Westpac Melbourne
Institute
Phone: +61 2 9292 7400
Fax: +61 2 9292 7404
Address: Level 14, 347 Kent Street Sydney NSW 2000
Email: research@prpsydney.com.au
Follow us: Visit www.prp.com.au
© Copyright Preston Rowe Paterson Australasia Pty Limited
8
prth- 8
Our Research
At Preston Rowe Paterson, we pride ourselves on the
research which we prepare in the market sectors within
which we operate. These include Commercial, Retail,
Industrial, Hotel & Leisure and Residential property markets
as well as infrastructure, capital and plant and machinery
markets
We have all types of plant & machinery
covered
We regularly undertake valuations of all forms of plant,
machinery, furniture, fittings and equipment including:



We have property covered



















Investment
Development
Asset
Corporate Real Estate
Mortgage
Government
Insurance
Occupancy
Sustainability
Research
Real Estate Investment Valuation
Real Estate Development Valuation
Property Consultancy and Advisory
Transaction Advisory
Property and Asset Management
Listed Fund, Property Trust, Super Fund and Syndicate
Advisors
Plant & Machinery Valuation
General and Insurance Valuation
Economic and Property Market Research






We have all client profiles covered
Preston Rowe Paterson acts for an array of clients with all
types of real estate, plant, machinery and equipment
interests such as:








We have all real estate types covered


We regularly provide valuation, property and asset
management, consultancy and leasing services for all
types of Real Estate including:















CBD and Metropolitan commercial office buildings
Retail shopping centres and shops
Industrial, office/warehouses and factories
Business parks
Hotels (accommodation) and resorts
Hotels (pubs), motels and caravan parks
Residential development projects
Residential dwellings (individual houses and apartments/
units)
Rural properties
Special purpose properties such as: nursing homes;
private hospitals, service stations, oil terminals and
refineries, theatre complexes; etc.
Infrastructure
Phone: +61 2 9292 7400
Fax: +61 2 9292 7404
Address: Level 14, 347 Kent Street Sydney NSW 2000
Email: research@prpsydney.com.au
Follow us: Visit www.prp.com.au
© Copyright Preston Rowe Paterson Australasia Pty Limited
Mining & earth moving equipment/road plant
Office fit outs, equipment & furniture
Agricultural machinery & equipment
Heavy, light commercial & passenger vehicles
Industrial manufacturing equipment
Wineries and processing plants
Special purpose plant, machinery & equipment
Extractive industries, land fills and resource based
enterprises
Hotel furniture, fittings & equipment











Accountants
Banks, finance companies and lending institutions
Commercial and Residential non bank lenders
Co-operatives
Developers
Finance and mortgage brokers
Hotel owners and operators
Institutional investors
Insurance brokers and companies
Investment advisors
Lessors and lessees
Listed and private companies corporations
Listed Property Trusts
Local, State and Federal Government Departments
and Agencies
Mining companies
Mortgage trusts
Overseas clients
Private investors
Property Syndication Managers
Rural landholders
Self managed super funds
Solicitors and barristers
Sovereign wealth funds
Stock brokers
Trustee and Custodial companies
9
prth- 9
We have all locations covered
From our capital city and regional office locations we serve
our client’s needs throughout Australia. Globally, we
operate directly or via our relationship offices for special
purpose real estate asset classes, infrastructure and plant &
machinery.
We have your needs covered
Our clients seek our property (real estate, infrastructure,
plant and machinery) services for a multitude of reasons
including:
Acquisitions & Disposals
Alternative use & highest and best use analysis
Asset Management
Asset Valuations for financial reporting to meet ASIC,
AASB, IFRS & IVSC guidelines
Compulsory acquisition and resumption
Corporate merger & acquisition real estate due diligence
Due Diligence management for acquisitions and sales
Facilities management
Feasibility studies
Funds management advice & portfolio analysis
Income and outgoings projections and analysis
Insurance valuations (replacement & reinstatement costs)
Leasing vacant space within managed properties
Listed property trust & investment fund valuations &
revaluations
Litigation support
Marketing & development strategies
Mortgage valuations
Property Management
Property syndicate valuations and re-valuations
Rating and taxing objections
Receivership, Insolvency and liquidation valuations and
support/advice
Relocation advice, strategies and consultancy
Rental assessments and determinations
Sensitivity analysis
Strategic property planning

























Phone: +61 2 9292 7400
Fax: +61 2 9292 7404
Address: Level 14, 347 Kent Street Sydney NSW 2000
Email: research@prpsydney.com.au
Follow us: Visit www.prp.com.au
© Copyright Preston Rowe Paterson Australasia Pty Limited
10
prth- 10
Head Office (Sydney)
Level 14, 347 Kent Street
Sydney NSW 2000
PO BOX 4120, Sydney NSW 2001
P: 02 9292 7400
F: 02 9292 7404
E: research@prpsydney.com.au
National Directors
Gregory Preston
M: 0408 622 400
E: greg.preston@prpsydney.com.au
Gregory Rowe
M: 0411 191 179
E: greg.rowe@prpsydney.com.au
Neal Ellis
M: 0417 053 116
E: neal.ellis@prp.com.au
Damian Kininmonth
M: 0417 059 836
E: damian.kininmonth@prp.com.au
Greg Sugars
M: 0435 911 465
E: greg.sugars@prp.com.au
www.prp.com.au
Capital City Offices
Adelaide
Rob Simmons
M: 0418 857 555
E: adelaide@prp.com.au
Brisbane
Troy Chaplin
M: 0419 029 045
E: troy.chaplin@prpqueensland.com.au
Hobart
Damien Taplin
M: 0418 513 003
E: damien.taplin@prp.com.au
Shelley Taplin
M: 0413 309 895
E: shelley.taplin@prp.com.au
Melbourne
Neal Ellis
M: 0417 053 116
E: neal.ellis@prp.com.au
Damian Kininmonth
M: 0417 059 836
E: damian.kininmonth@prp.com.au
Sydney
Gregory Preston
M: 0408 622 400
E: greg.preston@prpsydney.com.au
Gregory Rowe
M: 0411 191 179
E: greg.rowe@prpsydney.com.au
Affiliate offices in Canberra, Perth, Darwin and
other regional areas.
Regional Offices
Albury Wodonga
Michael Redfern
M: 0428 235 588
E: michael.redfern@prp.com.au
Ballarat
Darren Evans
M: 0417 380 324
E: darren.evans@prp.com.au
Bendigo
Damien Jerinic
M: 0409 820 623
E: damien.jerinic@prp.com.au
Central Coast/Gosford
David Rich
M: 0413 052 166
E: david.rich@prp.com.au
Geelong
Gareth Kent
M: 0413 407 820
E: gareth.kent@prp.com.au
Stuart Mcdonald
M: 0405 266 783
E: stuart.mcdonald@prp.com.au
Gippsland
Tim Barlow
M: 0400 724 444
E: tim.barlow@prp.com.au
Alexandra Ellis
M: 0407 724 444
E: alex.ellis@prp.com.au
Griffith
Dan Hogg
M: 0408 585 119
E: daniel.hogg@prp.com.au
Horsham
Ben Sawyer
M: 0429 826 541
E: ben.sawyer@prp.com.au
Mornington
Neal Ellis
M: 0417 053 116
E: neal.ellis@prp.com.au
Damian Kininmonth
M: 0417 059 836
E: damian.kininmonth@prp.com.au
Newcastle
Robert Dupont
M: 0418 681 874
E: bob.dupont@prp.com.au
Tamworth
Bruce Sharrock
M: 0429 465 012
E: bruce.sharrock@prp.com.au
Matt Spencer
M: 0447 227 002
E: matt.spencer@prp.com.au
New Zealand Offices
Head Office (Auckland)
Greg Sugars
M: +64 (0)27 777 9010
E: greg.sugars@prpnz.nz
Mitchell Stubbs
M: +64 (0)27 774 34100
E: mitchell.stubbs@prpnz.nz
Wellington
Brian Mudge
M: +64 (0)27 226 3630
E: brian.mudge@prpnz.nz
Dunedin
Adam Binns
M: +64 (0)21 121 4611
E: adam.binns@prpnz.nz
Greymouth
Mark Bollard
M: +64 (0)27 694 7041
E: mark.bollard@prpnz.nz
Hamilton & Morrinsville
Russel Fergusson
M: +64 (0)27 291 3624
E: russel.ferguson@prpnz.nz
Tauranga
Alex Haden
M: +64 (0)21 833 118
E: alex.haden@prpnz.nz
www.prpnz.nz
Preston Rowe Paterson Australasia Pty Ltd
ACN: 060 005 807
The information provided within this publication
should be regarded solely as a general guide.
We believe that the information herein is accurate however no warranty of accuracy or reliability is given in relation to any information contained in this publication. Nor is any responsibility
for any loss or damage whatsoever arising in any
way for any representation, act or omission,
whether expressed or implied (including responsibility to any person or entity by reason of negligence) accepted by Preston Rowe Paterson
Australasia Pty Ltd or any of its associated offices
or any officer, agent or employee of Preston
Rowe Paterson Australasia Pty Limited.
Wagga Wagga
Dan Hogg
M: 0408 585 119
E: daniel.hogg@prp.com.au
Warrnambool
Stuart McDonald
M: 0405 266 783
E: stuart.mcdonald@prp.com.au
Phone: +61 2 9292 7400
Fax: +61 2 9292 7404
Address: Level 14, 347 Kent Street Sydney NSW 2000
Email: research@prpsydney.com.au
Follow us: Visit www.prp.com.au
© Copyright Preston Rowe Paterson Australasia Pty Limited
11
prth- 11

Similar documents

TAS Market Report March 2016 - Preston Rowe Paterson. Australia

TAS Market Report March 2016 - Preston Rowe Paterson. Australia Building Approvals March 2016, the total number of house dwelling approvals in the Hobart Statistical Division over the month has tightened by 14% from 76 approvals to 65 approvals. In comparison t...

More information

Tasmania Property Market Report - June 2015

Tasmania Property Market Report - June 2015 unchanged in the six months to July. The total office vacancy in Hobart was recorded at 8.9%. Both direct and sub-lease vacancy remained unchanged at 7.2% and 1.7% respectively. On a year on year a...

More information

TAS Market Report March 2015 - Preston Rowe Paterson . Sydney

TAS Market Report March 2015 - Preston Rowe Paterson . Sydney Chart 10 – Median Weekly Rents for Other Dwellings by Zone – Source REIA

More information