Robina Market Update 2 nd H a l f 2 0 2 4
FUTURE DEVELOPMENTS
OVERVIEW
In Q2 2024, Robina* recorded a median house price of $1,340,000, and a median unit price of $750,000. This represents 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 price increases.
CHANGE FROM LAST
YEAR
Robina* will see approximately $114.9M of new projects commencing in the next 12 months from July 2024.
Residential
$20.0M Commercial
HALF YEAR
$49.5M
HOUSE SALE S
Infrastructure
$45.4M
HOUSE ME DIAN PRICE HOUSE RE NTAL PRICE
These projects will stimulate economic growth and create local job opportunities in Robina*. This will have a spill-over impact on the real estate market, in the form of higher demand for housing.
UNIT SALE S UNIT ME DIAN PRICE UNIT RE NTAL PRICE
The only residential project in the next 12 months is the Lakesview Townhouses Robina Precinct 1 ($20.0M). This will construct 48 3bedroom townhouses in 16 separate buildings.
$
All other projects are commercial or infrastructure, such as:
MARKET CONDITIONS MEDIAN PRICE Q2 2024
$1.34M
$750K
MEDIAN PRICE Q2 2024
$945
SALES
AVERAGE DAYS ON MARKET Q2 2024
40
53
HOUSE
U N I T
RENTALS
$790
AVERAGE DAYS ON MARKET Q2 2024
22
20
HOUSE
U N I T
•
Odyssey Lifestyle Care Robina ($45.0M, Commercial)
•
Robina Hospital Emergency Department Triage - Expansion (($30.0M, Infrastructure)
Residential projects planned in the area will add townhouses only, which suggest 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.
48 Townhouses