Robina Property Market Update 2nd Half of 2020
Robina recorded a median house price of $685,000 and a median unit price of $445,000 in Q2 2020. This represents annual (Q2 2019 – Q2 2020) median price growth of 7.0% for houses, however units slightly softened by -1.5%. Between Q2 2019 - Q2 2020 sales increased, by 4.8% for house (to 66 sales) and by -34.4% for units (to 59 sales). Units experienced a decline in demand and cooling market conditions due to COVID-19, however houses was resilient throughout. There are still great opportunities for first home buyers to enter the market, with ample of government incentives at hand.
Over the 12 months to Q2 2020, average vendor discounting has remained wide in Robina, at -4.2% for houses, but tightened to -2.4% for units. This indicates that buyers are still benefiting from discounts, thus now is an ideal time to enter the market.
In June 2020, house rental yields in Robina was recorded at 4.7%. In the 12 months to Q2 2020 median house rental price has remained stable at $620 per week, however average days on the market declined by -5.7% (to 25 days). Overall, this represented a resilient rental market throughout COVID-19.
4+ bedroom houses have provided investors with +0.7% rental growth annually, with a median rent of $680 per week.
Over the June 2020 Quarter, Robina¥ recorded a vacancy rate of 2.9%, below that of Gold Coast Main (4.0%) but slightly above Brisbane Metro (2.4%). Vacancy rates in Robina remain well below the Real Estate Institute of Australia’s healthy benchmark of 3.0%, even amidst COVID-19 conditions. This confirms there is still a healthy rental demand and investors can be confident of a conducive investment environment in Robina.