Robina: One of Queensland's Wealthiest Suburbs
Monday 1st July
A fascinating article was published in Saturday's Gold Coast Bulletin, positioning Robina as one of Queensland's wealthiest suburbs. The report, featured under the headline "Coast's Bastions of Wealth," highlights that Robina is among eight Gold Coast suburbs in the top 10 for unencumbered property, meaning properties owned without a mortgage.
Unveiling Robina's Wealth
The research reveals that Robina boasts a staggering $3.15 billion worth of property without a mortgage, underscoring the suburb's financial strength. To put this into perspective, assuming an average property value of $1,000,000, Robina has approximately 3,150 dwellings free of any mortgage. This significant wealth positions Robina as a stable and prosperous suburb, providing confidence to potential buyers and investors about the suburb's future capital gains and market resilience.
Why This Matters
The financial stability of Robina's property market is a critical factor for future capital gains. This wealth accumulation insulates the suburb from potential market downturns, making it a desirable location for buyers seeking long-term security in their investments.
Current Australian Property Market Insights
In addition to the Gold Coast Bulletin's insights, this week's real estate report includes an article from Real Estate.com and the June report from Herron Todd White property valuers. Here are five key statistics explaining the current state of the Australian property market:
Total Value of Residential Dwellings:
PropTrack’s Home Price Index shows a 6.68% annual increase in home values, with capital cities leading this growth.
Households own $10.29 trillion of the total residential value.
The average price of residential dwellings has reached $959,300.
Increase in Residential Dwellings:
The number of residential dwellings increased by 52,700 this quarter, totaling 11,176,100.
National home values have rebounded, setting new record highs.
Decline in New Building Approvals:
New building approvals dropped by 0.3% month-on-month but grew by 3.5% compared to last year.
The average number of completed properties per 12-month period has fallen to around 170,000.
Demand for New Tradies:
There is an immediate need for 90,000 new tradies, with an additional half a million required over the next five years.
This shortage, along with rising construction material prices, is impacting the housing construction industry.
Rise in New Housing Loans:
New lending for total housing increased by 4.8% in April to $29.4 billion.
There has been a significant rise in both owner-occupier and investor loan commitments, indicating growing buyer confidence.
What These Figures Tell Us
These five key metrics provide a snapshot of the Australian property market’s current status and potential future direction. Despite economic challenges, the market shows resilience with steady increases in property values and the number of residential dwellings. However, issues like the skilled labor shortage and the need for new building approvals must be addressed to support continued growth.
Conclusion
Robina’s remarkable financial stability and the broader insights into the Australian property market offer valuable perspectives for potential buyers and investors. As we progress through 2024, these trends and the strength of suburbs like Robina will play a crucial role in shaping the property market landscape.