It would be an understatement to describe our current times as being unpredictable. With the situation changing on a daily basis, it has become confusing and daunting for property owners to make decisions.

The following report highlights what has happened in the property market and what the current situation is. I will not speculate on the future as we are in unprecedented times and nobody can predict what is to come.

Supply - Demand

It is my opinion that, as always, the supply and demand balance continues to control the market as we operate in a free market environment. Thus the graphs below of the stock levels in Robina and the Gold Coast remains of utmost importance.

Houses - Robina

It will probably be quite a surprise for you to note on the graph below that the median price for house sales in Robina has in fact remained steady for the months of March, April and May. This comes after a significant surge in prices last year.

Days on market has also been reducing, but the current information for this graph is only till the end of March.

There has also been a significant reduction in the percent stock on market. This has definitely helped to keep prices stable in the current uncertain times. It is my opinion that the low levels of stock are being driven by the belief by most owners that the current times are not good times to be selling in.

Units - Robina

The median price for unit sales in Robina has also remained surprisingly steady for the months of March, April and May. This comes after good increases in prices last year.

Days on market has also been reducing, but the current information for this graph is only till the end of March.

There has also been a significant reduction in the percent stock on market. This has definitely helped to keep prices stable in the current uncertain times.

Summary

The Robina property market has thus far been surprisingly resilient to the uncertainty and financial turmoil caused by COVID-19.

It is my opinion that prices have been supported by very low stock levels and record low interest levels.

Demand has remained very high with an average of 5 people through each of the 183 open homes held by our office in the month of June.

Our numbers were as follows:

• Open Homes - 183

• Open Home Attendees - 902

• Buyer runs - 90

• Total inspections - 992

• Offers - 89

These numbers can be favourably compared to what would normally be a good month for the business prior to COVID-19.