Robina Property Factsheet 1st Half of 2018
Robina property market recorded a median house price of $710,000 and $475,000 for units in Q4 2017, representing an annual growth of 3.6% and 9.8% respectively. Over the same period of time house prices in the Gold Coast City Region grew by 4.9% to $645,000 while unit prices remained stable at $415,000. Compared to the Gold Coast region, the Robina property market is a premium and sought-after market, with unit owners benefitting from stronger capital growth.
Over the past twelve months to Q4 2017 average vendor discount for both houses and units has slightly widened to -4.1% and -3.8% respectively. This indicates a unique property market where sellers and buyers have a happy medium. Sellers are willing to negotiate their first list asking price, which results in buyers benefitting from increased affordability - yet sellers are still benefitting from median price strong positive capital growth. This suggests that now is the time to transact in Robina.
Median rents in Robina has grown over the past twelve months to Q4 2017, at 1.7% for houses (to $595/week) and 1.9% for units (to $530/week). Astute investors are benefiting from 4.4% (houses) and 5.8% (units) rental yields, which is higher than Gold Coast Main’s 4.3% (house) and 5.4% (units). Low vacancy rates, currently at 1.1%, are even lower than Gold Coast Main’s 1.2%, which signals strong rental demand in the area. These aspects confirm Robina as a desirable location for investment with rewarding returns.
Developments in Robina and its surrounding area commencing in the 2nd half 2017 - 1st half of 2018 are estimated at approx. $183.9M. This includes residential (49.3), commercial (27.5%), mixed use (16.3%), and infrastructure (6.9%). A balanced future development portfolio leads to sustainable economic growth in the area, with positive spill-over effects into the property market.