Housing and strata market update

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Housing and strata market
update
August 2013
Residential Real Estate Absolutely Underpins Australia’s Wealth
Position
Residential Real Estate
$4.9 Trillion
Australian
AustralianSuperannuation
Superannuation
$1.58
$1.5Trillion
Trillion
(SMSF $496.2 Billion)
Commercial
RealStocks
Estate
Australian
Listed
$0.7
Trillion
$1.4
Trillion
Commercial
Commercial
Real
Real
Estate
Estate
$0.7
Trillion
$0.7
Trillion
2
Residential Real Estate Absolutely Underpins Australia’s Wealth
Position
Residential Real Estate
$4.9 Trillion
Australian
AustralianSuperannuation
Superannuation
$1.58
$1.5Trillion
Trillion
(SMSF $496.2 Billion)
Commercial
RealStocks
Estate
Australian
Listed
$0.7
Trillion
$1.4
Trillion
$78 Billion / 1.6%
Commercial
Commercial
Real
Real
Estate
Estate
$0.7
Trillion
$0.7
Trillion
3
The combined capital city index is showing a clear recovery
trend on an annual basis
▶ Housing market conditions across the combined capital cities have been improving since May 2012
after a 7.7% peak to trough decline which lasted nineteen months.
▶ On a rolling quarterly basis, home values have increased over 10 of the past 12 months and values
across the eight capital city aggregate are 4.9% higher than a year ago.
Annual and quarterly change in capital city home values
25.0%
20.0%
15.0%
Annual change
10.0%
5.0%
0.0%
Quarterly change
-5.0%
-10.0%
Jul-97
Jul-99
Jul-01
Jul-03
Jul-05
4
Source: rpdata - Rismark
Jul-07
Jul-09
Jul-11
Jul-13
All capital cities except for Hobart have recorded an increase in home
values over the past 12 months
▶ Combined capital city home values have increased by 4.9% over the past 12 months.
▶ Perth (8.3%) and Sydney (6.5%) have been the stand-out markets for capital gains over the year.
▶ Hobart (-0.4%) is the only capital city to have recorded a fall in values over the year however, growth
has been limited in Brisbane (0.8%), Adelaide (1.1%) and more recently in Darwin (1.7%).
Annual change in dwelling value
9.0%
Annual change in capital city dwelling values
8.3%
8.0%
6.5%
7.0%
6.0%
4.9%
5.0%
4.3%
4.1%
4.0%
3.0%
1.7%
2.0%
1.1%
1.0%
0.8%
0.0%
-1.0%
Perth
Sydney
Australian Melbourne Canberra
Capitals
5
Source: rpdata - Rismark
Darwin
Adelaide
Brisbane
-0.4%
Hobart
Capital city home values have increased by 2.3% over the three
months to July 2013
▶ Combined capital city home values have lifted by 2.3% over the three months to July 2013.
▶ Over the three months, values have increased in each city except for Adelaide (-3.1%), Darwin
(-0.9%) and Brisbane (-0.7%).
▶ Perth (4.4%) and Sydney (3.7%) have been the standout performers over the period.
Quarterly change in dwelling value
5.0%
4.4%
Change in capital city dwelling values, 3 months to July 2013
3.7%
4.0%
3.0%
2.4%
2.3%
2.0%
2.0%
1.4%
1.0%
0.0%
-1.0%
-0.7%
-2.0%
-0.9%
-3.0%
-3.1%
-4.0%
Perth
Sydney
Hobart
Melbourne Australian
Capitals
6
Source: rpdata - Rismark
Canberra
Brisbane
Darwin
Adelaide
The recent growth in home values has seen three capital cities
eclipse their previous peaks
▶ Across the combined capital cities, home values at the end of July 2013 were -1.3% lower than their
previous peak of October 2010.
▶ Home values in Brisbane (-10.8%), Hobart (-9.8%) and Darwin (-9.2%) still have a long way to go
before recording a technical recovery.
Change in home values from their previous peak – to July 2013
4.0%
3.2%
2.0%
0.0%
0.0%
0.3%
-2.0%
-1.3%
-4.0%
-4.4%
-6.0%
-5.8%
-8.0%
-10.0%
-10.8%
-12.0%
Brisbane
-9.8%
Hobart
-9.2%
Darwin
Adelaide
Melbourne
7
Source: rpdata - Rismark
Perth
Canberra
Sydney
Australian
capitals
Hobart was the only capital city to record a fall in home values
over the past year
▶ Home values have fallen by -0.4% over the last 12 months.
▶ Home values increased by 0.9% in July 2013 and have increased by 2.0% over the three months to
July 2013.
▶ Values of houses are unchanged over the last 12 months while the unit market saw values fall by
-4.7%.
Annual and quarterly change in Hobart home values
70.0%
60.0%
Annual change, Hobart
50.0%
40.0%
30.0%
20.0%
Annual change, Combined capitals
10.0%
0.0%
-10.0%
Jul-99
Quarterly change, Hobart
Jul-01
Jul-03
Jul-07
Jul-05
8
Source: rpdata - Rismark
Jul-09
Jul-11
Jul-13
Annual change in home values across regional Tasmanian areas
HOUSES
SD
Greater Hobart
Southern
Northern
Mersey-Lyell
Qtr
-1.6%
-6.3%
-2.5%
-3.3%
12 mth
-2.0%
-6.2%
-1.7%
-2.4%
5 yr
-0.5%
8.7%
0.5%
0.8%
UNITS
From peak
-10.8%
-13.1%
-7.7%
-7.8%
Qtr
-6.4%
na
na
na
12 mth
-0.1%
na
na
na
5 yr
-1.1%
na
na
na
From peak
-13.4%
na
na
na
Note: capital city values are up to July 2013 whereas all other markets are to June 2013. 5 yr figure is the
5 yr average annual change and from peak indicates the change from the market peak, if 0.0% it means
values are currently at their record high.
10% plus
5% to 10%
0% to 5%
-5% to 0%
-5% or less
9
Source: rpdata - Rismark
Hobart sales activity is moving higher from a very low base
Monthly number of house sales - Hobart
600
Monthly
Rolling five year average
500
▶ Based on current estimates by RP
Data, Hobart recorded 919 house
sales and 268 unit sales over the
three months to May 2013.
400
300
200
100
0
May 93
May 95
May 97
May 99
May 01
May 03
May 05
May 07
May 09
May 11
May 13
▶ House sales over the three months to
May 2013 are estimated to be 37.3%
higher than at the same time last
year.
Monthly number of units sales - Hobart
180
160
140
120
100
80
60
40
20
0
May 93
Monthly
Rolling five year average
▶ Across the unit market, it is estimated
sales activity over the three months is
39.8% higher than in 2012.
May 95
May 97
May 99
May 01
May 03
May 05
May 07
May 09
May 11
May 13
10
Source: rpdata
Note: the last eight months of sales volumes are modelled based on historic levels of revision
Vendors offering greater discounts in order to make a sale
Average vendor discount, Hobart
Combined capitals benchmark
Average number of days on market, Hobart
Combined capitals benchmark
▶ The rate of vendor discounting across
Hobart moved lower in June to be
recorded at -10.7% (compared with 10.1% a year prior).
▶ Average selling time has improved
from the seasonal highs recorded
earlier in the year but remains
elevated at 80 days. Despite the high
reading, selling time is faster than a
year ago (99 days).
▶ The deterioration in vendor
discounting at a time when homes are
selling faster suggests that vendors
are becoming more willing to lower
their price expectations in order to
make a sale.
11
Source: rpdata
Note: the last eight months of sales volumes are modelled based on historic levels of revision
Rental conditions remain relatively flat in Hobart
▶ The median asking rent on a Hobart house has increased by 0.6% over the past twelve months while
unit rents are down 2.0% over the year.
▶ Gross rental yields have seen a modest improvement over the past year, up from 5.1% to 5.2%.
▶ Gross rental yields in Hobart are now well above the capital city average.
Annual and quarterly change in Hobart home values
12
Source: rpdata - Rismark
Rental conditions remain relatively flat in Hobart
▶ The median asking rent on a Hobart house has increased by 0.6% over the past twelve months while
unit rents are down 2.0% over the year.
▶ Gross rental yields have seen a modest improvement over the past year, up from 5.1% to 5.2%.
▶ Gross rental yields in Hobart are now well above the capital city average.
Annual and quarterly change in Hobart home values
Gross yield: Houses
Gross yield: Units
13
Source: rpdata - Rismark
1.98 million apartments and townhomes nationally
14
Source: rpdata , ABS Census
1.98 million apartments and townhomes nationally
24,845 or 1.3% of them are in
Tasmania
15
Source: rpdata , ABS Census
The potential depth of the Tasmanian strata management market is
roughly comparable with the Northern Territory and the Australian
Capital Territory
Total number of semi-detached and apartments within each state
16
Source: rpdata , ABS Census
The number of medium density dwellings
are growing at much faster rate than
detached dwelling numbers
+26% over past
decade
+28%
over past
decade
+14% over
past decade
17
Source: rpdata , ABS Census
The number of medium density dwellings
are growing at much faster rate than
detached dwelling numbers
The same is true in Tasmania but not
to quite the same extent, particularly
for semi-attached dwellings.
+26% over past
decade
+28%
over past
decade
+24% over past
decade
+12%
over past
decade
+14% over
past decade
+10% over
past decade
Source: rpdata , ABS Census
18
Where are the largest strata markets and
where is the opportunity?
Total number of medium to high density dwellings by council region
Change in total number of medium to high density dwellings by council region
19
Source: rpdata , ABS Census
▶ Hobart has the largest
number of medium and high
density dwellings at 6,573,
followed by Launceston and
Glenorchy (4,567 and 3,895).
▶ Hobart has also shown the
greatest level of opportunity
for new business over the
past decade with 424 more
medium to high density
dwellings compared with the
2001 Census.
▶ Clarence (289), Brighton
(263) and Kingborough (221)
have also shown a
comparatively large increase
in medium to high density
dwellings.
Where’s the pipeline?
▶ Based on data from Cordell’s to April this year, a record number of new apartment developments are
currently in the ‘Planning’ stage.
Number of apartment projects in the planning stage, National
20
Source: rpdata , Cordell
Where’s the pipeline?
▶ Based on data from Cordell’s to April this year, a record
number of new apartment developments are currently in the
‘Planning’ stage nationally.
▶ Most are in Victoria, however the value of new projects in
planning is highest in Queensland.
▶ Tasmania is punching below its weight, attracting just 0.2% of
the total number of planned apartment projects and 0.3% of
the value.
#
Number of apartment projects in the planning stage, National
$
21
Source: rpdata , Cordell
Factors driving take up of strata product
▶Affordability Across every city unit prices tend to be significantly more affordable than house
prices.
Difference between median house and unit selling prices – 3 months to Jul-13
Hobart
Capital city median prices
Capital city
Sydney
Melbourne
Brisbane
Adelaide
Perth
Hobart
Darwin
Canberra
Australian Capitals
Adelaide
Darwin
Australian Capitals
Brisbane
Houses
$645,000
$530,000
$450,000
$395,000
$510,000
$315,300
$520,000
$555,000
$513,000
Units
$500,000
$435,000
$373,500
$332,500
$415,000
$270,000
$457,500
$409,975
$440,000
Melbourne
Perth
Sydney
Canberra
$0
$20,000
$40,000
$60,000
22
Source: rpdata -Rismark
$80,000
$100,000
$120,000
$140,000
$160,000
Factors driving take up of strata product
▶Investment return The yield profile for investors is generally substantially higher for unit stock
compared with detached housing.
Gross rental yield, houses versus units
23
Source: rpdata -Rismark
Factors driving take up of strata product
▶Downsizing Changing lifestyle preferences across different age cohorts of the population
Age cohorts, % of Tasmanian population 2001 versus 2011
33% (almost 35,000) more
residents aged 55+ over
past decade
[Total population
growth over decade
was 7.0%]
24
Source: rpdata , ABS Census
Factors driving take up of strata product
▶Downsizing Changing lifestyle preferences across different age cohorts of the population
Age cohorts, % of Tasmanian population 2001 versus 2011
33% (almost 35,000) more
residents aged 55+ over
past decade
Population change by age cohort, Tasmania 2001 to 2011
[Total population
growth over decade
was 7.0%]
25
Source: rpdata , ABS Census
Factors driving take up of strata product
▶Higher rate of natural increase
More families means more demand for housing at a time
when affordability pressures remain strong.
Rate of natural increase, National
26
Source: rpdata , ABS
Factors driving take up of strata product
▶Higher rate of natural increase
More families means more demand for housing at a time
when affordability pressures remain strong.
Rate of natural increase, National
Rate of natural increase, Tasmania
27
Source: rpdata , ABS
Factors driving take up of strata product
▶Higher rate of natural increase
More families means more demand for housing at a time
when affordability pressures remain strong.
Rate of natural increase, National
Components of population growth, Tasmania (qtrly change)
28
Source: rpdata , ABS
Detailed statistics for
selected council
regions
The rpdata Advantage
29
Clarence Council region
Num sales
681
707
964
Change over past year
Change over 5 years
-2.9%
3.0%
-3.7%
-29.4%
Median price Jun 2013
Median price Jun 2012
Median price Jun 2008
Median price
$283,500
$285,000
$265,000
Num sales
169
156
208
Change over past year
Change over 5 years
-0.5%
7.0%
8.3%
-18.8%
UNITS
Median house and unit price and number of sales over time
$400,000
$350,000
$300,000
$250,000
$200,000
$150,000
$100,000
$50,000
Jun 95
Jun 97
Jun 99
Jun 01
Number of sales (rolling 3 month) (LHS)
improving
Jun-13
Jun-12
Jun-08
500
450
400
350
300
250
200
150
100
50
0
Jun 93
Median discount
Houses
Units
-8.0%
-8.7%
-7.5%
-5.7%
-4.5%
-2.1%
Median selling price
Median price Jun 2013
Median price Jun 2012
Median price Jun 2008
Median price
$340,000
$350,000
$330,000
Number of sales (rolling 3 month)
HOUSES
Jun 03
Jun 05
Jun 07
Median house price (RHS)
Jun 09
Jun 11
$0
Jun 13
Median unit price (RHS)
Median vendor discount, houses and units
0.0%
-2.0%
-4.0%
-6.0%
-8.0%
Houses
Units
worsening -10.0%
Jun 08
Jun 09
Jun 10
Jun 11
Jun 12
Jun 13
Median days on market, houses and units
Jun-13
Jun-12
Jun-08
Median selling time
Houses
Units
94
108
73
57
27
18
worsening
120
Houses
100
Units
80
60
40
20
improving
0
Jun 08
Jun 09
Jun 10
Jun 11
Jun 12
Jun 13
Median weekly rent, houses and units
Jun-13
Jun-12
Jun-08
Median weekly rent
Houses
Units
$325
$275
$325
$270
-
$360
$340
$320
$300
$280
$260
$240
$220
$200
Houses
Jun 09
30
Units
Jun 10
Jun 11
Jun 12
Jun 13
Devonport Council region
Num sales
361
339
546
Change over past year
Change over 5 years
-6.1%
-0.2%
6.5%
-33.9%
UNITS
Median price Jun 2013
Median price Jun 2012
Median price Jun 2008
Median price
$203,750
$214,000
$197,000
Num sales
57
71
90
Change over past year
Change over 5 years
-4.8%
3.4%
-19.7%
-36.7%
Median house and unit price and number of sales over time
$300,000
300
$250,000
250
$200,000
200
$150,000
150
$100,000
100
$50,000
50
0
Jun 93
Jun 95
Jun 97
Jun 99
Jun 01
Number of sales (rolling 3 month) (LHS)
improving
Jun-13
Jun-12
Jun-08
350
Median discount
Houses
Units
-11.1%
-10.6%
-8.2%
-6.1%
-4.8%
0.0%
Jun 03
Jun 05
Jun 07
Median house price (RHS)
Jun 09
Jun 11
Median selling price
Median price Jun 2013
Median price Jun 2012
Median price Jun 2008
Median price
$230,000
$245,000
$230,500
Number of sales (rolling 3 month)
HOUSES
$0
Jun 13
Median unit price (RHS)
Median vendor discount, houses and units
0.0%
-2.0%
-4.0%
-6.0%
-8.0%
-10.0%
Houses
Units
worsening -12.0%
Jun 08
Jun 09
Jun 10
Jun 11
Jun 12
Jun 13
Median days on market, houses and units
Jun-13
Jun-12
Jun-08
Median selling time
Houses
Units
105
144
96
67
19
0
worsening
improving
160
140
120
100
80
60
40
20
0
Jun 08
Houses
Units
Jun 09
Jun 10
Jun 11
Jun 12
Jun 13
Median weekly rent, houses and units
$280
Jun-13
Jun-12
Jun-08
Median weekly rent
Houses
Units
$250
$220
$260
$225
-
Houses
Units
$260
$240
$220
$200
$180
Jun 09
31
Jun 10
Jun 11
Jun 12
Jun 13
Glenorchy Council region
Num sales
521
559
847
Change over past year
Change over 5 years
-5.7%
2.0%
-6.8%
-38.5%
Median price Jun 2013
Median price Jun 2012
Median price Jun 2008
Median price
$210,000
$225,000
$200,000
Num sales
154
182
322
Change over past year
Change over 5 years
-6.7%
5.0%
-15.4%
-52.2%
UNITS
Median house and unit price and number of sales over time
$300,000
$250,000
$200,000
$150,000
$100,000
$50,000
Jun 95
Jun 97
Jun 99
Jun 01
Number of sales (rolling 3 month) (LHS)
improving
Jun-13
Jun-12
Jun-08
500
450
400
350
300
250
200
150
100
50
0
Jun 93
Median discount
Houses
Units
-9.6%
-7.8%
-7.9%
-8.0%
-4.0%
-4.3%
Jun 03
Jun 05
Jun 07
Median house price (RHS)
Jun 09
Jun 11
Median selling price
Median price Jun 2013
Median price Jun 2012
Median price Jun 2008
Median price
$250,000
$265,000
$245,000
Number of sales (rolling 3 month)
HOUSES
$0
Jun 13
Median unit price (RHS)
Median vendor discount, houses and units
0.0%
-2.0%
-4.0%
-6.0%
-8.0%
-10.0%
Houses
Units
worsening -12.0%
Jun 08
Jun 09
Jun 10
Jun 11
Jun 12
Jun 13
Median days on market, houses and units
Jun-13
Jun-12
Jun-08
Median selling time
Houses
Units
84
70
65
76
22
24
worsening
100
Houses
Units
80
60
40
20
improving
0
Jun 08
Jun 09
Jun 10
Jun 11
Jun 12
Jun 13
Median weekly rent, houses and units
$320
Jun-13
Jun-12
Jun-08
Median weekly rent
Houses
Units
$295
$235
$300
$245
-
Houses
$300
Units
$280
$260
$240
$220
$200
Jun 09
32
Jun 10
Jun 11
Jun 12
Jun 13
Hobart Council region
Num sales
630
615
803
Change over past year
Change over 5 years
0.0%
7.1%
2.4%
-21.5%
Median price Jun 2013
Median price Jun 2012
Median price Jun 2008
Median price
$337,250
$325,000
$290,000
Num sales
281
292
517
Change over past year
Change over 5 years
3.8%
16.3%
-3.8%
-45.6%
UNITS
Median house and unit price and number of sales over time
$600,000
500
$500,000
400
$400,000
300
$300,000
200
$200,000
100
$100,000
0
Jun 93
Jun 95
Jun 97
Jun 99
Jun 01
Number of sales (rolling 3 month) (LHS)
improving
Jun-13
Jun-12
Jun-08
600
Median discount
Houses
Units
-8.0%
-8.8%
-7.1%
-6.3%
-3.3%
-3.7%
Jun 03
Jun 05
Jun 07
Median house price (RHS)
Jun 09
Jun 11
Median selling price
Median price Jun 2013
Median price Jun 2012
Median price Jun 2008
Median price
$450,000
$450,000
$420,000
Number of sales (rolling 3 month)
HOUSES
$0
Jun 13
Median unit price (RHS)
Median vendor discount, houses and units
0.0%
-2.0%
-4.0%
-6.0%
-8.0%
Houses
Units
worsening -10.0%
Jun 08
Jun 09
Jun 10
Jun 11
Jun 12
Jun 13
Median days on market, houses and units
Jun-13
Jun-12
Jun-08
Median selling time
Houses
Units
68
73
45
60
19
20
worsening
100
Houses
Units
80
60
40
20
improving
0
Jun 08
Jun 09
Jun 10
Jun 11
Jun 12
Jun 13
Median weekly rent, houses and units
$450
Jun-13
Jun-12
Jun-08
Median weekly rent
Houses
Units
$375
$290
$400
$300
-
Houses
Units
$400
$350
$300
$250
$200
Jun 09
33
Jun 10
Jun 11
Jun 12
Jun 13
Kingborough Council region
Num sales
495
494
663
Change over past year
Change over 5 years
-1.4%
7.0%
0.2%
-25.3%
Median price Jun 2013
Median price Jun 2012
Median price Jun 2008
Median price
$258,750
$280,000
$265,000
Num sales
129
152
162
Change over past year
Change over 5 years
-7.6%
-2.4%
-15.1%
-20.4%
UNITS
Median house and unit price and number of sales over time
300
250
200
150
100
50
0
Jun 93
Jun 95
Jun 97
Jun 99
Jun 01
Number of sales (rolling 3 month) (LHS)
improving
Jun-13
Jun-12
Jun-08
350
Median discount
Houses
Units
-7.8%
-6.9%
-7.8%
-4.9%
-2.4%
-4.9%
Jun 03
Jun 05
Jun 07
Median house price (RHS)
Jun 09
Jun 11
$450,000
$400,000
$350,000
$300,000
$250,000
$200,000
$150,000
$100,000
$50,000
$0
Jun 13
Median selling price
Median price Jun 2013
Median price Jun 2012
Median price Jun 2008
Median price
$374,500
$380,000
$350,000
Number of sales (rolling 3 month)
HOUSES
Median unit price (RHS)
Median vendor discount, houses and units
0.0%
-2.0%
-4.0%
-6.0%
-8.0%
Houses
Units
worsening -10.0%
Jun 08
Jun 09
Jun 10
Jun 11
Jun 12
Jun 13
Median days on market, houses and units
Jun-13
Jun-12
Jun-08
Median selling time
Houses
Units
86
93
80
90
15
25
worsening
120
Houses
100
Units
80
60
40
20
improving
0
Jun 08
Jun 09
Jun 10
Jun 11
Jun 12
Jun 13
Median weekly rent, houses and units
$400
Jun-13
Jun-12
Jun-08
Median weekly rent
Houses
Units
$350
$275
$350
$293
-
Houses
Units
$350
$300
$250
$200
Jun 09
34
Jun 10
Jun 11
Jun 12
Jun 13
Launceston Council region
Num sales
876
939
1,298
Change over past year
Change over 5 years
-2.7%
8.7%
-6.7%
-32.5%
UNITS
Median price Jun 2013
Median price Jun 2012
Median price Jun 2008
Median price
$225,000
$233,550
$209,000
Num sales
171
213
302
Change over past year
Change over 5 years
-3.7%
7.7%
-19.7%
-43.4%
Median house and unit price and number of sales over time
$300,000
700
$250,000
600
$200,000
500
400
$150,000
300
$100,000
200
$50,000
100
0
Jun 93
Jun 95
Jun 97
Jun 99
Jun 01
Number of sales (rolling 3 month) (LHS)
improving
Jun-13
Jun-12
Jun-08
800
Median discount
Houses
Units
-9.3%
-8.8%
-9.2%
-7.8%
-4.5%
-4.4%
Jun 03
Jun 05
Jun 07
Median house price (RHS)
Jun 09
Jun 11
Median selling price
Median price Jun 2013
Median price Jun 2012
Median price Jun 2008
Median price
$250,100
$257,000
$230,000
Number of sales (rolling 3 month)
HOUSES
$0
Jun 13
Median unit price (RHS)
Median vendor discount, houses and units
0.0%
-2.0%
-4.0%
-6.0%
-8.0%
-10.0%
Houses
Units
worsening -12.0%
Jun 08
Jun 09
Jun 10
Jun 11
Jun 12
Jun 13
Median days on market, houses and units
Jun-13
Jun-12
Jun-08
Median selling time
Houses
Units
95
83
78
99
20
22
worsening
120
Houses
100
Units
80
60
40
20
improving
0
Jun 08
Jun 09
Jun 10
Jun 11
Jun 12
Jun 13
Median weekly rent, houses and units
$300
Jun-13
Jun-12
Jun-08
Median weekly rent
Houses
Units
$270
$220
$280
$225
-
Houses
$280
Units
$260
$240
$220
$200
$180
Jun 09
35
Jun 10
Jun 11
Jun 12
Jun 13
About Us
RP Data is 100% owned by CoreLogic which is a leading provider of consumer, financial and property information, analytics and services to business and
government. The company combines public, contributory and proprietary data to develop predictive decision analytics and provide business services
that bring dynamic insight and transparency to the markets it serves. Today, CoreLogic has more than 6,000 employees globally with 2012 revenues of
$1.6 billion and is listed on the NYSE.
At RP Data, we continually collect, manage and process property-based data and imagery from over 300 sources across Australia including government
agencies, media partners and industry professionals. RP Data is the biggest provider of property information, analytics and risk management services in
Australia and New Zealand with a database of 210 million property records. RP Data serves customers ranging from real estate agents and consumers to
banks, mortgage brokers, financial planners and governments.
We understand that data is most useful when it’s presented as relevant and actionable analytics. Our data provides customers with insights that realise
more market opportunities, while simultaneously growing businesses and managing risk. Our results speak for themselves; we’re helping over 100,000
end users including approximately 45,000 real estate agents win more business by providing Australia’s most trusted pre-listings comparative market
appraisal (CMA) report, as well as industry standard tools that promote transparency and confidence when buying and selling property. In addition, 1
million consumers use RP Data to make important decisions about property they are about to hold, sell or purchase.
Our Mortgage Platforms cover more than 90% of the mortgage lending activity in Australia. We estimate the value of every residential property in
Australia each week via our automated valuation models which support our industry leading RP Data Rismark Daily Home Value Index. On average, we
issue over 30 million automated valuation assessments every month. We’re Australia’s leading source for mobile property information too – with over
500,000 mobile devices accessing our services each month.
Using public and proprietary data, we bring insight and transparency to the Australian property market. We employ 330 people at ten locations in
Australia and New Zealand and our revenue for 2012 was over $70 million.
For more information call 1300 734 318
36
In compiling this publication, RP Data has relied upon information supplied by a number of external sources. The publication is supplied on the basis that while the RP Data believes all
the information in it is deemed reliable at the time of publication, it does not warrant its accuracy or completeness and to the full extent allowed by law excludes liability in contract, tort or
otherwise, for any loss or damage sustained by subscribers, or by any other person or body corporate arising from or in connection with the supply or use of the whole or any part of the
information in this publication through any cause whatsoever and limits any liability it may have to the amount paid to RP Data for the supply of such information.
This data cannot be reproduced without the permission of RP Data.
Queensland Data
© The State of Queensland (Department of Environment and Resource Management) 2012. Based on data provided with the permission of the Department of Natural Resources and
Mines: [QVAS 2012)]. 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.
South Australian Data
This information is based on data supplied by the South Australian Government and is published by permission. The South Australian Government does not accept any responsibility for
the accuracy or completeness of the published information or suitability for any purpose of the published information or the underlying data.
New South Wales Data
Contains property sales information provided under licence from the Land and Property Information (“LPI”). RP Data is authorised as a Property Sales Information provider by the LPI.
Victorian Data
To the extent that this report has been developed using information owned by the State of Victoria, the State of Victoria owns the copyright in the Property Sales Data which constitutes
the basis of this report and reproduction of that data in any way without the consent of the State of Victoria will constitute a breach of the Copyright Act 1968 (Cth). The State of Victoria
does not warrant the accuracy or completeness of the information contained in this report and any person using or relying upon such information does so on the basis that the State of
Victoria accepts no responsibility or liability whatsoever for any errors, faults, defects or omissions in the information supplied.
Western Australian Data
Based on information provided by and with the permission of the Western Australian Land Information Authority (2012) trading as Landgate.
Australian Capital Territory Data
The Territory Data is the property of the Australian Capital Territory. No part of it may in any form or by any means (electronic, mechanical, microcopying, photocopying, recording or
otherwise) be reproduced, stored in a retrieval system or transmitted without prior written permission. Enquiries should be directed to: Director, Customer Services ACT Planning and
Land Authority GPO Box 1908 Canberra ACT 2601.
Tasmanian Data
This product incorporates data that is copyright owned by the Crown in Right of Tasmania. The data has been used in the product with the permission of the Crown in Right of Tasmania.
The Crown in Right of Tasmania and its employees and agents:
a) give no warranty regarding the data's accuracy, completeness, currency or suitability for any particular purpose; and
b) do not accept liability howsoever arising, including but not limited to negligence for any loss resulting from the use of or reliance upon the data.
Base data from the LIST © State of Tasmania http://www.thelist.tas.gov.au
37
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