Real Estate Market Update - Robina, 13 November 2018
The current state of the real estate market in Robina
The end of the year is fast approaching and this has certainly been an interesting year for the property market. With significant decreases in both Sydney and Melbourne, most people are wondering what will happen in the future and how this will effect the property market on the Gold Coast.
The reality, I believe, is that no one can predict the property market. All we can do is look at the state of the current market and make decisions based on this.
This being said, I have included in this report the "property clock" from the November 2018 market report of Herron Todd White. They are one of the largest property valuation companies in the country and this "clock" is their take on where different cities are currently in the property price cycle.
Houses - Robina
Looking at the numbers below, the market remains relatively flat for the year. There is not much change in prices from my report of two months ago.
Days on market has also remains steady at approximately 50 days since June 2016. This is still significantly lower than 5 years ago (see graph below).
Stock levels for houses (see graph at bottom), has started to increase towards the end of the year, but this is the same pattern that happened last year, and in fact, the stock levels are lower than this time last year.
The situation for units looks very similar to that of houses for the year. The average price for a unit in Robina remains at just over $450,000.
Days on market has been increasing slightly over the year, but not by a significant amount.
Stock levels have also increased slightly over the past few months, but this is in keeping with the trend of last year and levels are no higher than this time last year.
For Robina house prices, we seem to have gone through a year of price consolidation after 5 years of steady growth.
Units in Robina continue their sideways trend, as they have done for the past 10 years.
There is definitely a shift on the market this year, but whether this leads to a downturn in the local market is still too early to determine. The reality is that at this point, as a property owner in Robina, you could expect to achieve approximately the same price for your property as you would have achieved a year ago.