Casino Property Market Update 1st Half of 2021

In Q4 2020, Casino recorded a median house price of $315,000, and a median unit price of $187,000. This represents annual (Q4 2019 – Q4 2020) median price growth of 13.3% for houses, however a -11.3% softening for units. Between Q4 2019 – Q4 2020 total sales increased, by 24.0% for houses (to 93 sales) and by 183.3% for units (to 17 sales). The Casino market is heading towards a post COVID-19 recovery, with positive price growth and increased sales for houses, indicating real returns on capital investment. Now is an ideal time to transact, with opportunities for both sellers and buyers.

Average vendor discounts between Q4 2019 and Q4 2020 have tightened for both property types, to -3.7% respectively. Casino offers unique opportunities, as sellers can now achieve a final sale price closer to their first list price, however buyers can still benefit from a discount. Now is an opportune time to transact.

In December 2020, house rental yields in Casino were recorded at an attractive 4.9%. In the 12 months to Q4 2020 the median house rental price grew by 12.1%, to $370 per week. Furthermore, average days on the market declined by -26.9% (to 19 days). This establishes Casino as a resilient and highly demanded rental market.

4+ bedroom houses have provided investors with +12.2% rental growth annually, with a median rent of $415 per week.

In December 2020, Casino recorded a significantly low vacancy rate of 0.2%, below that of Lismore (0.6%) and Sydney Metro (3.6%). Vacancy rates in Casino are at record lows, and well below the Real Estate Institute of Australia’s healthy benchmark of 3.0%. This confirms there is high resilience in the rental market despite COVID-19, thus investors can be confident of a conducive investment environment in Casino.