Robina Property Market Update 2nd Half of 2022
In Q2 2022, Robina recorded a median house price of $1,171,000, and a median unit price of $697,000. This represents annual (Q2 2021 – Q2 2022) median price growth of 29.6% for houses and 27.3% for units. Total sales decreased between Q2 2021 – Q2 2022, by -17.4% (to 71 sales) for houses and by -30.7% for units (to 106 sales). Current owners can benefit from real returns on capital investment, as median price growth has been fuelled by an imbalance in high demand and low stock. Both property types are heavily undersupplied, which can provide a buffer in a rising cash rate environment.
Average vendor discounts between Q2 2021 and Q2 2022 have shifted for both property types, to lower premiums of 0.6% for houses and 0.9% for units. Market conditions in Robina presents an opportunity for both buyers and sellers. Sellers can still achieve a final sale price higher than the first list asking price, however buyers can benefit from a lower premium compared to previous quarters – thus improving affordability.
House rental yields in Robina was recorded at 4.2% in June 2022, higher than Gold Coast Metro and Brisbane Metro. This was paired with a 20.2% increase in median house price between Q2 2021 – Q2 2022 and a slight -1.3% decrease in the number of houses rented. This suggest an undersupplied market, which is beneficial for investors.
3 bedroom houses have provided investors with +19.0% rental growth annually, achieving a median rent of $750 per week.
Robina recorded a vacancy rate of 0.4% in June 2022, which is slightly below Brisbane and Gold Coast Metro’s 0.6% average. Vacancy rates in Robina have significantly decreased in the past 24 months and remained within the 1.0% band for the past 18 months. This indicates increasing rental demand and quicker occupancy of rental properties, having a positive impact on rental returns. These key indicators create a conducive and sustainable environment for investors, despite the increase in median sale prices of property over the past 12 months.
