1. www.htw.com.au 1300 880 489 1 ANZ - Herron Todd White North Canberra Property Investors Group Meeting 26 th February 2013 SLIDES presented by Kylie Peden

2. Commercial Retail Industrial Rural Residential QS Plant & Machinery Herron Todd White Established 1968 Value over $80bn in property each year 2012 - Largest independent property advisory organisation in Australia. Over 62 Offices Nationwide Over 700 staff Every State & Territory National presence, backed by local resources –client access to broad depth of knowledge and experience.

3. Commercial Retail Industrial Rural Residential QS Plant & Machinery The Facts Current population of near 370,000 Projected growth rate of near 1.9% Changing family structure High disposable incomes Low unemployment, but rising (circa 4.5%) Large public sector work force Interest rates Affordability issues

4. Commercial Retail Industrial Rural Residential QS Plant & Machinery Dwelling Commencements Note: 2012 Full Year Data Not Yet Available

5. Commercial Retail Industrial Rural Residential QS Plant & Machinery New Supply Land supply tightly controlled via LDA 19,500 housing sites to be supplied over four years Predominantly Gungahlin and Molonglo Googong and Tralee – greater competition Greenfield v Urban infill New Lease Variation Charge

6. Commercial Retail Industrial Rural Residential QS Plant & Machinery New Unit Developments

7. Commercial Retail Industrial Rural Residential QS Plant & Machinery Building Rates

8. Commercial Retail Industrial Rural Residential QS Plant & Machinery Current Listings

9. Commercial Retail Industrial Rural Residential QS Plant & Machinery Sale Volumes

10. Commercial Retail Industrial Rural Residential QS Plant & Machinery Rental Market

11. Commercial Retail Industrial Rural Residential QS Plant & Machinery Median Prices

12. Commercial Retail Industrial Rural Residential QS Plant & Machinery Local NSW Region Generally follows Canberra market trends Provides more affordable options Population prepared to commute Improved transport links (i.e. Kings Hwy Upgrade) Improved climatic conditions/rainfall Services Affordability vs Location

13. Commercial Retail Industrial Rural Residential QS Plant & Machinery Local NSW Region

14. Commercial Retail Industrial Rural Residential QS Plant & Machinery Market Summary Buyers market – greater choice Longer listing times Increased vacancy rate Rents to stabilise Construction costs (build/extend) to soften

15. Commercial Retail Industrial Rural Residential QS Plant & Machinery Key Factors in Determining Value Supply in a particular area Demand for that property type Sales evidence Market Sentiment Type/condition/quality of improvements Size/slope of land Views and aspect Location

16. Commercial Retail Industrial Rural Residential QS Plant & Machinery Other Services Stamp Duty Valuations Family transfers Retrospective Valuations Capital Gains Tax change effective 8 th May, 2012 Tax Depreciation Schedules An adjustment to the value of an item which reflects the loss of value An allocation over successive accounting periods of a value during which time the service life of the item is used.

17. Commercial Retail Industrial Rural Residential QS Plant & Machinery Month In Review This publication can be downloaded from our website www.htw.com.au

18. Commercial Retail Industrial Rural Residential QS Plant & Machinery Any Questions? Thank You

19. Commercial Retail Industrial Rural Residential QS Plant & Machinery Disclaimer The information contained in this report is provided in good faith and has been derived from sources believed to be reliable and accurate. However, the report is not intended to be comprehensive or render advice and neither Herron Todd White nor any persons involved in the preparation of this report accepts any form of liability for its contents. This report has copyright and cannot be reproduced without written permission of Herron Todd White. Liability limited by a scheme approved under Professional Standards Legislation. The scheme does not apply within Tasmania.