Casino Property Market Update 1st Half of 2022

In Q4 2021, Casino recorded a median house price of $410,000, and a median unit price of $225,000. This represents annual (Q4 2020 – Q4 2021) median price growth of 20.9% for houses and 17.8% for units. Between Q4 2020 – Q4 2021 total sales increased for houses, by +14.0% (to 98 sales), but slightly slowed for units, by -6.3% (to 15 sales). House owner occupiers and down-sizers can benefit from real returns on capital investment, as median price growth was alongside higher sale numbers. A rush to lock low mortgage interest rates has played a role in high demand for houses in the market.

Average vendor discounts between Q4 2020 and Q4 2021 have tightened for houses, to -2.5%, but widened for units to -6.6%. Market conditions in Casino is split. House buyers need to offer closer to the first list asking price, thus benefitting sellers, however unit buyers have much more room to negotiate.

In December 2021, house rental yields in Casino were recorded at 4.9%. In the 12 months to Q4 2021, the median house rental price increased by 13.2% to reach $430 per week, while average days to let on the market remained at 23 days. A strong increase in rental prices and yields higher than neighbouring areas suggests Casino is a resilient rental market.

4+ bedroom houses have provided investors with +16.3% rental growth annually, with a median rent of $465 per week.

Also in December 2021, Casino recorded a vacancy rate of 0.4%, on par with Lismore and well below Sydney Metro (2.6%). Vacancy rates in Casino have trended within the 0.5% parameter in the past 24 months, remaining well below the Real Estate Institute of Australia’s healthy benchmark of 3.0%. Continuous low vacancy rates confirm there is a healthy level of rental demand and investors can be confident of a conducive investment environment.