Casino Property Factsheet 2nd Half of 2018

Compared to the Richmond Valley Local Government Area, both houses and units can be secured at a more affordable price in the Casino property market. Annual (Q2 2017-Q2 2018) capital growth in Casino is at least 10.6% higher than that of surrounding suburbs.

The Casino property market recorded a median price of $307,000 (house) and $207,000 (unit) over the past 12 months to Q2 2018, which represented an annual price growth of 32.0% and 15.0%, respectively. Over the same period of time, median prices in the Richmond Valley LGA grew by 21.4% to $340,000 (house), while unit prices fell by -10.4% to $259,750.

Compared to the Casino 1st Half 2018 Research Factsheet, which reported a house median price and annual (Q4 2016-Q4 2017) price change of $267,500 and 7.0% (respectively); the Casino house market has further strengthened. Casino provides a conducive environment for both affordability (compared to the LGA) and stronger positive capital growth.

Median rent in Casino increased for both house and units over the past 12 months to Q2 2018, currently at $320 per week (houses) and $223 per week (units). At the same time, stock on the market also increased – by 19.4% (house) and 84.6% (unit) respectively. Increases in rental prices represent real uplift in value and are not only due to scarcity. Investors benefited from rental yields of 5.9% (house) and 5.1% (unit), well above that of Sydney Metro 2.9% (house) and 3.8% (unit). This confirms Casino as an investment hotspot.