Casino Property Market Update 2nd Half of 2021

In Q2 2021, Casino recorded a median house price of $374,000, and a median unit price of $207,000. This represents annual (Q2 2020 – Q2 2021) median price growth of 26.9% for houses and a softening of -11.3% for units. Between Q2 2020 and Q2 2021 total sales increased for both property types, up by 57.4% for houses (to 74 sales) and by 100.0% for units (to 6 sales). Homeowners can benefit from real returns in investment, as house price growth is accompanied by higher transaction volumes. Astute investors and first home buyers are encouraged to tap into the affordable unit market.

Average vendor discounts between Q2 2020 and Q2 2021 have tightened for both property types, to -1.5% for houses and -1.4% for units. The Casino market has now shifted to favour vendors, where buyers must offer closer to the initial listing price. Buyers can still benefit from a discount, however for a limited time.

In June 2021, house rental yields in Casino were recorded at 4.5%. In the 12 months to Q2 2021, the median house rental price increased by 19.7% to reach $395 per week, while average days on the market declined by -25.0% (to 18 days). Overall, this represents a strong rental market throughout COVID-19, one that is inviting to astute investors.

3 bedroom houses have provided investors with +16.5% rental growth annually, with a median rent of $390 per week.

Also in June 2021, Casino recorded a significantly low vacancy rate of 0.3%, on par with Lismore and well below that of Sydney Metro (2.8%). Vacancy rates in Casino have continued to decline and remain well below the Real Estate Institute of Australia’s healthy benchmark of 3.0%, continuing the pattern even from pre-COVID-19 conditions. This further indicates that there is a healthy rental demand and investors can be confident of a conducive investment environment in Casino.