Robina Property Market Update 1st Half of 2023
In Q4 2022, Robina recorded a median house price of $1,100,000, and a median unit price of $700,000. This represents annual (Q4 2021 – Q4 2022) median price growth of 4.5% for houses and a 10.2% price growth for units. On a quarter-by-quarter basis (Q3 – Q4 2022) median house price continue to grow by 4.3% whereas units remained stable. Total sales decreased between Q4 2021 – Q4 2022, by -27.2% (to 75 sales) for houses and by -55.6% (to 59 sales) for units. The Robina market is still undersupplied, which currently has created a buffer to the increasing cash rate environment.
Average vendor discounts have rapidly swung between Q4 2021 and Q4 2022, to discounts of -4.2% for houses and -2.6% for units. Q4 2022 has recorded the highest discount for the past 24 months, particularly for units. Market conditions in Robina have now shifted to favour buyers, as vendors are willing to accept below the listing price. Now is the time to enter the market.
House rental yields in Robina was 4.8% in December 2022, higher than Gold Coast Main (3.9%) and Brisbane Metro (3.6%). This was paired with a 6.5% increase in median house rental price in the 12 months to Q4 2022 and a 2.2% increase in the number of houses rented. Average days on the market remained steady at a low 17 days. This suggests that there is a growing house rental market, proving Robina as an attractive investment option.
2-bedroom houses have provided investors with +24.5% rental growth annually, achieving a median rent of $660 per week.
Robina recorded a vacancy rate of 0.7% in December 2022, which is slightly above Gold Coast Metro’s 0.6% but below Brisbane 1.1%. Vacancy rates in Robina saw a slight spike in the late 2022, potentially due to investors responding to higher interest rates. But it is still below the Real Estate Institute of Australia’s healthy benchmark of 3.0% and pre-COVID-19 level, thus high rental demand. This suggests a conducive investment environment for investors.
