There has been a major shift in the Robina property market recently. Usually stock levels increase significantly as we enter the spring selling season, however, this year the increase has failed to materialise. The low stock levels (see graph below) is having a significant influence on property prices and buyer sentiment.

Houses - Robina

As can be seen clearly from the graphs below, there has been a decrease in the median sales price for houses in Robina over the past year. Pricefinder showing this drop to be -5.8% and CoreLogic showing it to be -6.8%.

Days on market has also increased steadily since 2016, giving supporting evidence that the market has softened.

Percent stock on market shows a significant drop in recent months down to the lowest levels seen for over 10 years.

These low levels of stock are changing the supply / demand dynamics with buyers and have lead to some record prices being achieved by our office lately!

Units - Robina

For units we see conflicting information from Pricefinder and CoreLogic. Pricefinder showing a drop of -4.3% and CoreLogic showing a significant recent increase in median value leading to an annual increase of 0.9%. This disparity could be due to the different platforms processing the data with a different time lag.

Days on market has been increasing since 2017 and has been steadying off over the past few months.

Percent stock on market has been quite cyclical in the past, with each cycle lasting approximately 2 years, and is currently on a strong downward trend.

Summary

It is quite clear now that we have been in a declining market since the start of 2018 with a few dips prior.

At the present time, the considerable decrease of stock is being noticed by buyers and they have been moving quickly to secure homes when they find the right property. This has been quite a shift from the past 2 years and we are seeing some great prices being achieved for our sellers.

It also appears that the interest rate reductions and the easing of the banks assessment rates are helping to push prices up.

We also continue to see higher numbers through our open homes. Our average number of buyers through each open home has increased from 2.3 in May to 3.4 in July and is now up to 4 people through every open home.This is almost a 100% increase this year!