Property demand high, supply low in Robina.
Research from the independent analyst shows there are just 220 new apartments with development approval in Robina, and no future terrace homes in the pipeline, as projects on the market or under construction quickly near the finish line.
At the same time, ongoing buyer demand continues to make Robina a star performer, with data showing homes in the area have recorded a 6.1 per cent per annum price growth over the past 20 years, consistently outpacing property values across Gold Coast City.
Urbis senior consultant Lynda Campbell said Robina’s strong and sustained track record of growth was underpinned by the fact the suburb boasted all the key property fundamentals – including high demand and dwindling supply.
“The best indicator for the performance of a suburb is an understanding of what is planned in terms of housing, and how that aligns with future needs,” she said.
“In Robina, there’s only a limited number of apartments approved for construction and no terrace homes, plus a diminishing supply of land for new development – all of which will put upwards pressure on prices for both new and existing homes.
“For a large and diverse community, Robina is currently undersupplied, especially looking at the current significant growth forecasts expected in the region, with population and employment expected to double by 2050.
“Looking ahead, demand for low maintenance housing like apartments and terrace homes is expected to increase, as the demographic in Robina shifts from young to more mature families, who will account for 26.1 per cent of the population by 2041.”
Robina Group is developing the only new terrace home project in Robina, Vue Terrace Homes, with more than $140 million of sales posted to date. Homes in the final stage have just been completed and the finishing touches are now being added to the gated community.
Robina Group development manager Darrell Irwin said enquiry for the brand new homes remained strong from purchasers across the board.
“Enquiry has not abated, as buyers realise the window of opportunity to secure their place in Vue – the only project of its kind in Robina – is quickly closing,” he said.
“Interest has been further bolstered by Gold Coast City Council’s recent commitment of $8.27 million towards construction of Robina City Parklands, a 22 hectare green space immediately neighbouring Vue.
“We are seeing demand from owner-occupiers who are attracted to the lifestyle appeal of being surrounded by a major parkland, Gold Coast City’s best schools, hospital and medical facilities, public transport and Robina Town Centre.
“Investors are also interested in Vue to leverage solid rental returns and capital growth, with research showing terrace homes in Robina have achieved up to 4.6 per cent per annum growth in weekly rent over the past decade.”
A limited number of terraces homes are still available at Vue and all are built and ready to move into, priced from $629,000.
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