Robina Property Market Update 2nd Half 2024
Robina offers a perfect blend of urban living with access to beautiful parks and lakes, making it ideal for families. Its proximity to the Gold Coast’s beaches and vibrant shopping centres provides endless recreational opportunities.
Property Trends
In Q2 2024, Robina recorded a median house price of $1,340,000, and a median unit price of $750,000. This represents an annual (Q2 2023 – Q2 2024) surge of 21.3% for houses and 1.4% for units. Comparing Q2 2023 and Q2 2024, house sales decreased by -18.3% (to 58 sales in Q2 2024). Unit sales also decreased, by -17.3% (to 91 sales in Q2 2024). There is an undersupply in both house and unit markets, which provided a buffer against higher interest rates. Now is an ideal time for house owners to capitalise on their investments. With most of the planned supply being townhouses, now is the ideal time for house buyers to act, before further median house price increases.
Project Development
Robina will see approximately $114.9M of new projects commencing in the next 12 months from July 2024. $20.0M residential projects will bring only 48 townhouses to the market, which suggests that the stand-alone house market remains undersupplied. Thus, house prices will most likely continue to increase, as will townhouses, due to house buyers now looking at and competing for this stock type.
Rental Market & Growth
House rental yields in Robina were 3.9% as of July 2024, higher than the Gold Coast Main (3.2%) and Brisbane Metro (3.4%). This was paired with a 5.6% increase in median house rental price in the past 12 months, at $945 per week, alongside a 13.8% rise in the number of houses rented (to 140 houses). This indicates a robust demand and highly competitive house rental market, making Robina an appealing option for investors.
Vacancy Rates & Property Investment
Robina recorded a vacancy rate of 1.1% in July 2024, on par with the Brisbane Metro average (1.1%) but below the Gold Coast City LGA average (1.7%). Vacancy rates have fluctuated in the past 12 months, due to investors entering/exiting the market alongside cash rates. However, a 1.1% vacancy rate is well below the Real Estate Institute of Australia’s healthy benchmark 3.0%. This indicates a quicker occupancy of rental properties in Robina, confirming a conducive and sustainable environment for investors, even with a higher entry/sale price in Q2 2024.
