Robina PRD Market Update 1st Half of 2020
Robina recorded a median house price of $740,000 and a median unit price of $465,000 in Q4 2019. This represents annual (Q4 2018 – Q4 2019) median price growth of 9.4% for houses and 3.3% for units. Between Q4 2018 – Q4 2019 total sales strengthened by 5.6% for houses (to 57 sales) and by 11.1% for units (to 100 sales). Current market conditions in Robina have started to strengthen, as demand is beginning to increase. Robina is heading towards a recovery and now is the time for buyers and sellers to transact.
Average vendor discounting between Q4 2018 and Q4 2019 has tightened to -2.3% for houses and to -1.2 for units. The current market conditions in Robina have shifted to favour vendors, where buyers are willing to negotiate closer to the initial listing price. This is a great opportunity for sellers to capitalise on their properties. There is limited discount for buyers who are ready to act.
House rental yields in Robina were recorded at a rate of 4.3% in December 2019, well above that of Gold Coast Main (4.1%) and Brisbane Metro (3.9%). Over the 12 months to Q4 2019 house rental median price strengthened by 4.2% to $620 per week, followed by unit rental median price slight softening by -3.8% to $500 per week respectively.
2-bedroom houses have provided investors with +8.5% rental growth annually, resulting in a median rent of $510 per week.
Robina recorded a vacancy rate of 2.4% in December 2019, generally on par with Gold Coast Main (2.3%) but well below that of Brisbane Metro (2.9%). Robina vacancy rates has seen a declining trend over the past six months, indicating there is a healthier rental demand in Robina. Investors are encouraged to take this opportunity to enter the market.