Robina Property Market Report 2nd Half of 2019
In Q2 2019, Robina recorded a median house price of $640,000 (62 sales), and a median unit price of $427,000 (45 sales). This represents annual (Q2 2018 – Q2 2019) median price softening of -5.0% for houses and -5.1% for units. During this time both house and unit sales slowed, by -16.2% and -30.8% respectively. The Robina property market has become more affordable, which presents an ideal time for first home buyers and investors to enter the market.
Average vendor discount between Q2 2018 and Q2 2019 has widened for both houses and units, to -3.6% and -3.3%. The housing market conditions in Robina have shifted to favour buyers, where sellers are willing to negotiate below their initial listing price. This provides a perfect opportunity for first home buyers to enter the market and take advantage of current affordable market conditions.
In the 12 months to Q2 2019 rental demand increased by 31.3% for houses and 32.4% for units. During this time median house rental price strengthened, by 5.1% to $620 per week, however median unit rental price held stable at $530 per week. There is an increased preference for renting, with the housing market providing investors with strong returns.
3 bedroom houses provided investors with the highest rental growth annually. As of June 2019, Robina rental yields were recorded at 4.7% (houses) and 6.0% (units). This outperforms both Gold Coast Main and Brisbane Metro.
Robina recorded a vacancy rate of 2.6% in June 2019. This represents a declining trend over the past 12 months, and below Gold Coast Main (2.7%) and Brisbane Metro (2.5%). There is a healthier demand for rental properties in Robina.