Market update

March 2011

1
 Market snapshot
Australian capital cities, January 2011

Darwin
Houses: up 1.1% over quarter
Units: up 0.9% over quarter
Median house price: $550,000 Median unit price: $403,750
Gross rental yields: 5.3% (houses) / 5.7% (units)

Brisbane
Houses: down -2.3% over quarter
Units: down -2.4% over quarter
Median house price: $460,000 Median unit price: $384,000
Gross rental yields: 4.4% (houses) / 5.1% (units)
Perth
Houses: down -2.5% over quarter Sydney
Units: down -2.4% over quarter Houses: down -2.7% over quarter
Median house price: $480,000 Median unit price: $395,000 Units: down -2.2% over quarter
Gross rental yields: 4.1% (houses) / 4.6% (units) Adelaide Median house price: $588,250 Median unit price: $452,925
Houses: down -0.4% over quarter Gross rental yields: 4.4% (houses) / 5.1% (units)
Units: up 0.9% over quarter
Median house price: $410,000 Median unit price: $333,000 Canberra
Gross rental yields: 4% (houses) / 4.7% (units) Houses: down -6.5% over quarter
Melbourne
Houses: down -1.8% over quarter Units: up 3.5% over quarter
Units: down -5.1% over quarter Median house price: $555,000 Median unit price: $412,250
Median house price: $515,000 Median unit price: $430,000 Gross rental yields: 5% (houses) / 5.3% (units)
Gross rental yields: 3.7% (houses) / 4.2% (units)
Hobart
Houses: up 2% over quarter
Units: down -11.1% over quarter
Median house price: $350,000 Median unit price: $285,000
Gross rental yields: 5.2% (houses) / 5.7% (units)

* Hobart data is based on December ‘10 results

Source: rpdata.com - Rismark

2
 MedianMedian
house houseandand unitunit
prices prices
Australian capital cities
Australian capital cities, January 2011
$285,000 Median unit price
Hobart+
$350,000 Median house price
Adelaide $333,000
$410,000
Brisbane $384,000
$460,000
Perth $395,000
$480,000
Australian Capitals $415,000
$490,000
Melbourne $430,000
$515,000
Darwin $403,750
$550,000
Canberra $412,250
$555,000
Sydney $452,925
$588,250

$0 $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 $700,000

Median price

Source: rpdata.com - Rismark

* Note Hobart figures are based on December 2010 data

3
 Annual change in dwelling values
Australian capital cities, Jan 2010 to Jan 2011

6.0%
4.9%

4.0% 3.6%
Annual change in dwelling value

2.6%
2.2%
1.9%
2.0%
1.2%

0.0%

-0.6%
-2.0%

-4.0%
-3.7% -3.8%

-6.0%
Darwin Melbourne Sydney Hobart+ Adelaide Australian Canberra Brisbane Perth
Capitals
Source: rpdata.com - Rismark

* Note Hobart figures are based on December 2010 data

4
 Quarterly change in dwelling values
Australian capital cities, three months ending Jan 2011

2.0%

1.0%
1.0% 0.7%
Quarterly change in dwelling value

0.0%
-0.1%
-1.0%

-2.0%
-2.3% -2.3%
-2.5% -2.5% -2.5%
-3.0%

-4.0%

-4.5%
-5.0%
Darwin Hobart+ Adelaide Brisbane Australian Perth Sydney Melbourne Canberra
Capitals
Source: rpdata.com - Rismark

* Note Hobart figures are based on December 2010 data

5
 Combined capital city growth and sales volume
Annual gain / loss in value with total sales volumes over time
National Volumes and Change in house and unit value

30.0% 60,000

25.0% 50,000
Annual capital gain / loss

20.0%
40,000

Volume of sales
15.0%
30,000
10.0%
20,000
5.0%

0.0% 10,000

-5.0% 0
Jan-01

Jan-02

Jan-05

Jan-06

Jan-09

Jan-10
Jan-00

Jan-03

Jan-04

Jan-07

Jan-08

Jan-11
Jul-01

Jul-02

Jul-05

Jul-06

Jul-09

Jul-10
Jul-99

Jul-00

Jul-03

Jul-04

Jul-07

Jul-08
Month Note: The most recent five months worth of sales volumes are modelled based on historic levels of revision

Current median house price: $490,000

Current median unit price: $415,000
Source: rpdata.com - Rismark
6
 Sydney capital growth and sales volume
Annual gain / loss in value with total sales volumes over time
Sydney Volumes and Change in house and unit value

30.0% 14,000

25.0% 12,000
20.0%
Annual capital gain / loss

10,000

Volume of sales
15.0%
8,000
10.0%
6,000
5.0%
4,000
0.0%

-5.0% 2,000

-10.0% 0
Jan-01

Jan-02

Jan-05

Jan-06

Jan-09

Jan-10
Jan-00

Jan-03

Jan-04

Jan-07

Jan-08

Jan-11
Jul-01

Jul-02

Jul-05

Jul-06

Jul-09

Jul-10
Jul-99

Jul-00

Jul-03

Jul-04

Jul-07

Jul-08
Month Note: The most recent five months worth of sales volumes are modelled based on historic levels of revision

Current median house price: $588,250

Current median unit price: $452,925
Source: rpdata.com - Rismark
7
 Melbourne capital growth and sales volume
Annual gain / loss in value with total sales volumes over time
Melbourne Volumes and Change in house and unit value

35.0% 10,000

30.0% 9,000

25.0% 8,000
Annual capital gain / loss

7,000
20.0%

Volume of sales
6,000
15.0%
5,000
10.0%
4,000
5.0%
3,000
0.0% 2,000
-5.0% 1,000
-10.0% 0
Jan-01

Jan-02

Jan-05

Jan-06

Jan-09

Jan-10
Jan-00

Jan-03

Jan-04

Jan-07

Jan-08

Jan-11
Jul-01

Jul-02

Jul-05

Jul-06

Jul-09

Jul-10
Jul-99

Jul-00

Jul-03

Jul-04

Jul-07

Jul-08
Month Note: The most recent five months worth of sales volumes are modelled based on historic levels of revision

Current median house price: $515,000

Current median unit price: $430,000
Source: rpdata.com - Rismark
8
 Brisbane capital growth and sales volume
Annual gain / loss in value with total sales volumes over time
Brisbane Volumes and Change in house and unit value

40.0% 8,000
35.0% 7,000
30.0%
6,000
Annual capital gain / loss

25.0%

Volume of sales
20.0% 5,000

15.0% 4,000
10.0% 3,000
5.0%
2,000
0.0%
-5.0% 1,000

-10.0% 0
Jan-01

Jan-02

Jan-05

Jan-06

Jan-09

Jan-10
Jan-00

Jan-03

Jan-04

Jan-07

Jan-08

Jan-11
Jul-01

Jul-02

Jul-05

Jul-06

Jul-09

Jul-10
Jul-99

Jul-00

Jul-03

Jul-04

Jul-07

Jul-08
Month Note: The most recent five months worth of sales volumes are modelled based on historic levels of revision

Current median house price: $460,000

Current median unit price: $384,000
Source: rpdata.com - Rismark
9
 Adelaide capital growth and sales volume
Annual gain / loss in value with total sales volumes over time
Adelaide Volumes and Change in house and unit value

45.0% 3,000
40.0%
35.0% 2,500
30.0%
Annual capital gain / loss

2,000

Volume of sales
25.0%
20.0%
1,500
15.0%
10.0%
1,000
5.0%
0.0% 500
-5.0%
-10.0% 0
Jan-01

Jan-02

Jan-05

Jan-06

Jan-09

Jan-10
Jan-00

Jan-03

Jan-04

Jan-07

Jan-08

Jan-11
Jul-01

Jul-02

Jul-05

Jul-06

Jul-09

Jul-10
Jul-99

Jul-00

Jul-03

Jul-04

Jul-07

Jul-08
Month Note: The most recent five months worth of sales volumes are modelled based on historic levels of revision

Current median house price: $410,000

Current median unit price: $333,000
Source: rpdata.com - Rismark
10
 Perth capital growth and sales volume
Annual gain / loss in value with total sales volumes over time
Perth Volumes and Change in house and unit value

50.0% 6,000

40.0% 5,000

30.0%
Annual capital gain / loss

4,000

Volume of sales
20.0%
3,000
10.0%
2,000
0.0%

-10.0% 1,000

-20.0% 0
Jan-01

Jan-02

Jan-05

Jan-06

Jan-09

Jan-10
Jan-00

Jan-03

Jan-04

Jan-07

Jan-08

Jan-11
Jul-01

Jul-02

Jul-05

Jul-06

Jul-09

Jul-10
Jul-99

Jul-00

Jul-03

Jul-04

Jul-07

Jul-08
Month Note: The most recent five months worth of sales volumes are modelled based on historic levels of revision

Current median house price: $480,000

Current median unit price: $395,000
Source: rpdata.com - Rismark
11
 Darwin capital growth and sales volume
Annual gain / loss in value with total sales volumes over time
Darwin Volumes and Change in house and unit value

50.0% 450

400
40.0%
350
30.0%
Annual capital gain / loss

300

Volume of sales
20.0% 250

10.0% 200

150
0.0%
100
-10.0%
50

-20.0% 0
Jan-01

Jan-02

Jan-05

Jan-06

Jan-09

Jan-10
Jan-00

Jan-03

Jan-04

Jan-07

Jan-08

Jan-11
Jul-01

Jul-02

Jul-05

Jul-06

Jul-09

Jul-10
Jul-99

Jul-00

Jul-03

Jul-04

Jul-07

Jul-08
Month Note: The most recent five months worth of sales volumes are modelled based on historic levels of revision

Current median house price: $550,000

Current median unit price: $403,750
Source: rpdata.com - Rismark
12
 Canberra capital growth and sales volume
Annual gain / loss in value with total sales volumes over time
Canberra Volumes and Change in house and unit value

40.0% 1,400
35.0%
1,200
30.0%
25.0% 1,000
Annual capital gain / loss

Volume of sales
20.0%
15.0% 800

10.0% 600
5.0%
0.0% 400
-5.0%
200
-10.0%
-15.0% 0
Jan-01

Jan-02

Jan-05

Jan-06

Jan-09

Jan-10
Jan-00

Jan-03

Jan-04

Jan-07

Jan-08

Jan-11
Jul-01

Jul-02

Jul-05

Jul-06

Jul-09

Jul-10
Jul-99

Jul-00

Jul-03

Jul-04

Jul-07

Jul-08
Month Note: The most recent five months worth of sales volumes are modelled based on historic levels of revision

Current median house price: $555,000

Current median unit price: $412,250
Source: rpdata.com - Rismark
13
 Hobart* capital growth and sales volume
Annual gain / loss in value with total sales volumes over time
Hobart Volumes and Change in house and unit value

70.0% 700
60.0%
600
50.0%
500
Annual capital gain / loss

40.0%

Volume of sales
30.0%
400
20.0%
300
10.0%
0.0% 200
-10.0%
100
-20.0%
-30.0% 0
Dec-00

Dec-01

Dec-04

Dec-05

Dec-08

Dec-09
Dec-99

Dec-02

Dec-03

Dec-06

Dec-07

Dec-10
Jun-01

Jun-02

Jun-05

Jun-06

Jun-09

Jun-10
Jun-99

Jun-00

Jun-03

Jun-04

Jun-07

Jun-08
Month Note: The most recent five months worth of sales volumes are modelled based on historic levels of revision

Current median house price: $350,000

Current median unit price: $285,000
Source: rpdata.com - Rismark * Note Hobart figures are based on December 2010 data
14
 Change in property values
Major capital city property value growth Bottom 20% vs Middle 60% vs Top 20%
Bottom 20% vs. Middle 60% vs. Upper 20%

170
Bottom 20% Middle 60% Upper 20%
160

150

140

130
Index

120

110

100

90
Base = 100 @ January 2005
80
Apr-07

Apr-08

Apr-09
Apr-05

Apr-06

Apr-10
Jul-05

Jul-06

Jul-07

Jul-08

Jul-09

Jul-10
Oct-05

Oct-06

Oct-09

Oct-10
Oct-07

Oct-08
Jan-08

Jan-09

Jan-10
Jan-06

Jan-07

Jan-11
Source: rpdata.com - Rismark

15
 Rolling annual change in dwelling values
Major Australian capital cities

50%
Sydney Melbourne Brisbane Adelaide Perth Combined capital cities

40%

30%

20%

10%

0%

-10%
Jan-96

Jan-97

Jan-99

Jan-00

Jan-02

Jan-03

Jan-05

Jan-06

Jan-08

Jan-09

Jan-11
Jan-98

Jan-01

Jan-04

Jan-07

Jan-10
Source: rpdata.com - Rismark

16
 Rolling quarterly change in dwelling values
National capital cities

6.0%
5.0%
4.0%
3.0%
2.0%
1.0%
0.0%
-1.0%
-2.0%
-3.0%
Apr-07

Apr-09
Apr-06

Apr-08

Apr-10
Jul-07

Jul-09
Jul-06

Jul-08

Jul-10
Oct-06

Oct-08

Oct-10
Oct-07

Oct-09
Jan-07

Jan-09

Jan-11
Jan-06

Jan-08

Jan-10
Source: rpdata.com - Rismark

17
 Rolling quarterly change in house values
National capital cities vs Rest of State

6.0%
Capital city Rest of State
5.0%
4.0%
3.0%
2.0%
1.0%
0.0%
-1.0%
-2.0%
-3.0%
Apr-07

Apr-09
Apr-06

Apr-08

Apr-10
Jul-07

Jul-09
Jul-06

Jul-08

Jul-10
Oct-06

Oct-08

Oct-10
Oct-07

Oct-09
Jan-07

Jan-09

Jan-11
Jan-06

Jan-08

Jan-10
Source: rpdata.com - Rismark

18
 Average gross rental yield and rental rates,
Australian capital cities
$440 5.5%
Avg rental rate - all dwellings

$420 Avg gross yield - Houses 5.3%

Avg gross yield - Units
Average rental rate - dwellings

$400 5.1%

Avg gross rental yield

4.9%
$380
4.7%
$360
4.5%
$340
4.3%
$320
4.1%
$300 3.9%
$280 3.7%
$260 3.5%
Jul-06

Jul-09

Jul-10
Jul-07

Jul-08
Jan-06

Jan-07

Jan-10

Jan-11
Jan-08

Jan-09

Source: rpdata.com - Rismark

19
 0
10
20
30
40
50
60
0
10
20
30
40
50
60
70
Jan-06 Jan-06
Mar-06 Mar-06

Units
May-06 May-06
Jul-06 Jul-06

Houses
Sep-06 Sep-06

Source: rpdata.com - Rismark

Nov-06 Nov-06
Jan-07 Jan-07
Mar-07 Mar-07
May-07 May-07
Jul-07 Jul-07
Sep-07 Sep-07
Nov-07 Nov-07
Jan-08 Jan-08
Mar-08 Mar-08
May-08 May-08
Jul-08 Jul-08
Sep-08 Sep-08
Nov-08 Nov-08
Jan-09 Jan-09
Mar-09 Mar-09
May-09 May-09
Jul-09 Jul-09
Sep-09 Sep-09
Nov-09 Nov-09
Jan-10 Jan-10
Mar-10 Mar-10
May-10 May-10
Jul-10 Jul-10
Sep-10 Sep-10
Nov-10 Nov-10
Jan-11 Jan-11
combined capital cities
Average time on market,

Last yr: 39 days

This yr: 46 days

This yr: 43 days

Last yr: 42 days

20
 -8.0%
-7.0%
-6.0%
-5.0%
-4.0%
-3.0%
-2.0%
-1.0%
0.0%
-8.0%
-7.0%
-6.0%
-5.0%
-4.0%
-3.0%
-2.0%
-1.0%
0.0%
Jan-06 Jan-06
Mar-06 Mar-06

Units
May-06 May-06
Jul-06 Jul-06

Houses
Sep-06

Source: rpdata.com - Rismark

Sep-06
Nov-06 Nov-06
Jan-07 Jan-07
Mar-07 Mar-07
May-07 May-07
Jul-07 Jul-07
Sep-07 Sep-07
Nov-07 Nov-07
Jan-08 Jan-08
Mar-08 Mar-08
May-08 May-08
Jul-08 Jul-08
Sep-08 Sep-08
Nov-08 Nov-08
Jan-09 Jan-09
Mar-09 Mar-09
May-09 May-09
Jul-09 Jul-09
Sep-09 Sep-09
Nov-09 Nov-09
Jan-10 Jan-10
Mar-10 Mar-10
May-10 May-10
Jul-10 Jul-10
Sep-10 Sep-10
Nov-10 Nov-10
Jan-11 Jan-11
combined capital cities
Average vendor discounting,

Last yr: -4.5%

This yr: -5.5%
Last yr: -4.8%
This yr: -5.9%

21
 Auction clearance rates and volumes,
combined capital cities

90.0% 3,000
80.0%
2,500
70.0%
60.0% 2,000
50.0%
1,500
40.0%
30.0% 1,000
20.0%
500
10.0%
0.0% 0
Feb-09

May-09

Aug-09

Nov-09

Feb-10

May-10

Aug-09

Nov-10

Feb-11
Source: rpdata.com

22
 Total number of listings

Source: rpdata.com
0
50,000
100,000
150,000
200,000
250,000
300,000
Jan-07
3 Jan 07
Feb 07
14 Mar-07
28 Mar 07
May-07
9 May 07
20 Jun 07
Jul-07
1 Aug 07
Sep-07
Total Listings

12 Sep 07
Oct 07
24 Nov-07
5 Dec 07
Jan-08
16 Jan 08
Feb 08
27 Mar-08
Apr 08
9May-08
21 May 08
New Listings

Jul-08
2 Jul 08
13 Aug 08
Sep-08
24 Sep 08
Nov-08
5 Nov 08
17 Dec 08
Australia

Jan-09
25 Jan 09
Mar-09
8 Mar 09
Apr 09
19May-09
31 May 09
Jul-09
12 Jul 09
23 Aug 09
Sep-09
4 Oct 09
Nov-09
15 Nov 09
Jan-10
27 Dec 09
Weekly listings, National

Feb 10
7 Mar-10
21 Mar 10
May-10
2 May 10
13 Jun 10
Jul-10
25 Jul 10
Sep-10
5 Sep 10
Oct 10
17 Nov-10
28 Nov 10
Jan-11
9 Jan 11
Feb 11
20 Mar-11
23
 Annual change in CPI (%)

0.0
1.0
2.0
3.0
4.0
5.0
6.0
7.0

-1.0
Dec-1996
Jun-1997

Source: rpdata.com, RBA, ABS

Dec-1997
Jun-1998

All groups
Dec-1998

Range
Jun-1999

Reserve Bank's Target

Dec-1999
Jun-2000
Dec-2000
Jun-2001
Dec-2001
Jun-2002
Dec-2002
Jun-2003
Dec-2003
Jun-2004
Dec-2004
Avg of weighted median and trimmed mean

Jun-2005
Dec-2005
Jun-2006
Dec-2006
Consumer price index

Jun-2007
Dec-2007
Jun-2008
Dec-2008
Jun-2009
Dec-2009
Jun-2010
Dec-2010
24
 Annual change in wage price index

0.0%
1.0%
2.0%
3.0%
4.0%
5.0%

Source: rpdata.com, ABS

Dec-1998
Jun-1999
Dec-1999
Jun-2000
Dec-2000
Jun-2001
Dec-2001
Jun-2002
Dec-2002
Jun-2003
Dec-2003
Jun-2004
Dec-2004
Jun-2005
Dec-2005
Jun-2006
Labour price index

Dec-2006
Jun-2007
Dec-2007
Jun-2008
Dec-2008
Jun-2009
Dec-2009
Jun-2010
25

Dec-2010
 Standard variable home loan interest rate

4.0%
5.0%
7.0%
8.0%

6.0%
9.0%
10.0%

Source: rpdata.com, RBA

Feb-2003

4.0%
6.0%
8.0%
12.0%
14.0%
16.0%

10.0%
18.0%
Feb-1961

Long term
Feb-1966
Aug-2003
Feb-1971

Feb-2004
Feb-1976

Aug-2004 Feb-1981

Feb-1986

Feb-2005
Feb-1991

Aug-2005 Feb-1996

Feb-2001

Feb-2006
Feb-2006

Aug-2006 Feb-2011

Feb-2007

Aug-2007

Feb-2008

Aug-2008

Feb-2009

Aug-2009

Feb-2010
Mortgage rate, average standard variable

Aug-2010
26

Feb-2011
 Jan-82
Jan-83
Jan-84

Source: rpdata.com, ABS

Jan-85
Jan-86
Jan-87
Jan-88
Jan-89
Jan-90
Jan-91
Jan-92
Jan-93
Jan-94
Jan-95
Jan-96
Jan-97

Month
Jan-98
Jan-99
Jan-00
Jan-01
Jan-02
Jan-03
Jan-04
Jan-05
Jan-06
Jan-07
Unemployment rate, Australia

Jan-08
Jan-09
Unemployment Rate

Jan-10
Moving annual average

Jan-11
4%
6%
8%

2%
10%
12%

27

Unemployment Rate
 Annual change in no of employed persons
(,000)

0.0
100.0
200.0
300.0
400.0

-200.0
-100.0

Source: rpdata.com, ABS

Jan-2005
Apr-2005
Jul-2005
Oct-2005
Jan-2006
Apr-2006
Full-time employment

Jul-2006
Oct-2006
Jan-2007
Apr-2007
Jul-2007
Oct-2007
Jan-2008
Part-time employment

Apr-2008
Jul-2008
Oct-2008
Jan-2009
part-time, Australia

Apr-2009
Jul-2009
Oct-2009
Jan-2010
Apr-2010
Jul-2010
Annual growth in employment, full-time vs

Oct-2010
Jan-2011
28
 Consumer Confidence, Australia

130
Consumer Sentiment Index Six month rolling average
120

110

100

90

80

70

60
Feb-92

Feb-93

Feb-96

Feb-97

Feb-99

Feb-00

Feb-03

Feb-04

Feb-06

Feb-07

Feb-09

Feb-10
Feb-91

Feb-94

Feb-95

Feb-98

Feb-01

Feb-02

Feb-05

Feb-08

Feb-11
Source: rpdata.com, Melbourne Institute-Westpac

29
 Monthly finance commitments

0
20,000
30,000
50,000
60,000
70,000

10,000
40,000

Source: rpdata.com, ABS

Dec-1992

Dec-1993

FHB
Dec-1994 Non FHB

Dec-1995

Dec-1996

Dec-1997

Dec-1998

Dec-1999

Dec-2000

Dec-2001

Month
Dec-2002

Dec-2003

Dec-2004

Dec-2005

Dec-2006
finance commitments, Australia

Dec-2007
Number of owner occupier housing

Dec-2008

Dec-2009
30

Dec-2010
 Total value of housing finance commitments,
owner occupiers vs. investors

18
Owner Occupied Investment

Value of Commitments ($billion)

16

14

12

10

2
Jun-05

Jun-06

Jun-08

Jun-09

Jun-10
Jun-03

Jun-04

Jun-07
Dec-04

Dec-05

Dec-08

Dec-09
Dec-02

Dec-03

Dec-06

Dec-07

Dec-10
Month

Source: rpdata.com, ABS

31
 No of finance commitments

0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000

Source: rpdata.com, ABS

Dec-1982
Dec-1983
Dec-1984
Dec-1985
Dec-1986
Dec-1987
Dec-1988
Dec-1989
Dec-1990
Total finance commitments

Dec-1991
Dec-1992
Dec-1993
Dec-1994
Dec-1995
Dec-1996
Dec-1997
Dec-1998
12 month moving average

Dec-1999
Dec-2000
Dec-2001
Dec-2002
Dec-2003
Dec-2004
Dec-2005
commitments, owner occupiers
Total number of housing finance

Dec-2006
Dec-2007
Dec-2008
Dec-2009
Dec-2010
32
 Total dwelling approvals,
Australia
20,000
Total dwelling approvals Total dwelling approvals (6 month rolling avg)
18,000

16,000

14,000

12,000

10,000

8,000
Dec-1992

Dec-1993

Dec-1996

Dec-1997

Dec-2000

Dec-2001

Dec-2003

Dec-2004

Dec-2005

Dec-2007

Dec-2008

Dec-2009
Dec-1990

Dec-1991

Dec-1994

Dec-1995

Dec-1998

Dec-1999

Dec-2002

Dec-2006

Dec-2010
Source: rpdata.com, ABS

33
 Dwelling approvals
private houses vs private units, Australia
12,000

10,000

8,000

6,000

4,000

2,000
Private house approvals (rolling 6 mth avg) Private unit approvals (rollng 6 mth avg)
0
Dec-1990

Dec-1992

Dec-1993

Dec-1996

Dec-1997

Dec-2000

Dec-2001

Dec-2004

Dec-2005

Dec-2008

Dec-2009
Dec-1991

Dec-1994

Dec-1995

Dec-1998

Dec-1999

Dec-2002

Dec-2003

Dec-2006

Dec-2007

Dec-2010
Source: rpdata.com, ABS

34
 Population growth
Natural increase vs net overseas migration
90,000
Natural Increase Net Overseas Migration
80,000
Quarterly change in population

70,000
60,000
50,000
40,000
30,000
20,000
10,000
0
Jun-1983
Jun-1984
Jun-1985

Jun-1988
Jun-1989

Jun-1992
Jun-1993

Jun-1996
Jun-1997

Jun-2000
Jun-2001
Jun-2002

Jun-2004
Jun-2005
Jun-2006

Jun-2009
Jun-2010
Jun-1982

Jun-1986
Jun-1987

Jun-1990
Jun-1991

Jun-1994
Jun-1995

Jun-1998
Jun-1999

Jun-2003

Jun-2007
Jun-2008
Source: rpdata.com, ABS

Note: black dotted line indicates an estimate of the quarterly level of overseas migration proposed by Government
35
 Annual population growth

0
50,000
100,000
150,000
200,000
250,000
400,000
450,000
500,000

300,000
350,000

Source: rpdata.com, ABS

Jun-1982
Jun-1983
Jun-1984
Jun-1985
Jun-1986
Jun-1987
Jun-1988
Jun-1989
Jun-1990
Jun-1991
Jun-1992
Jun-1993

Note: black dotted line indicates the long-term average level of annual population growth
Jun-1994
Jun-1995
Jun-1996
Jun-1997
Jun-1998
Jun-1999
Jun-2000
Jun-2001
Jun-2002
Total population growth

Jun-2003
Jun-2004
Jun-2005
Jun-2006
Jun-2007
Jun-2008
Jun-2009
36

Jun-2010
 Quarterly dwelling approvals vs. quarterly
population growth
120,000
Total quarterly dwelling approvals
Quarterly change in population growth
100,000

80,000

60,000

40,000

20,000

0
Dec-1990
Dec-1991

Dec-1993
Dec-1994

Dec-1996
Dec-1997

Dec-1999
Dec-2000

Dec-2002
Dec-2003

Dec-2006

Dec-2009
Dec-2010
Dec-1989

Dec-1992

Dec-1995

Dec-1998

Dec-2001

Dec-2004
Dec-2005

Dec-2007
Dec-2008
Source: rpdata.com, ABS

37
It’s about tangible
results for property
professionals everyday.

38