According to realestate.com.au’s New Apartment Hotspots1., Robina has been revealed as the top Gold Coast suburb searched by Australians looking for new apartments in Queensland from March to May 2015, and came in sixth overall.
In addition, data available on realestate.com.au/invest also points to strong market demand in Robina from people looking to rent 2 bedroom units in Robina as well as a steadily climbing rental yield.
realestate.com.au’s Queensland Sales Manager for Developments Marini Peries says Robina is a suburb that profiles well on the website, especially for apartments.
“People are attracted to new apartment developments as these properties are usually located in prime inner city locations,” she said.
“Buying off-the-plan also allows purchasers to buy at contract price with a 10% deposit and offers buyers more choice – they get to select the property that is most suited to their needs and lifestyle.
“Our data shows a lot of people are also searching in areas on the Gold Coast for new apartments.”
Robina Group’s Residential Sales Manager Azura Griffen says there has been a noticeable increase in interest from interstate buyers as well as first home buyers who are priced out of Sydney and Melbourne markets.
“We’re receiving many enquiries from interstate buyers who have seen the immense value and growth opportunities on offer here,” she said.
“This interest has been especially evident in our Bohème Apartment project from buyers wanting to purchase an apartment off the plan and are looking elsewhere due to being priced out of their local market.
“We also have interstate and overseas buyers interested in purchasing our apartments so their children can attend Bond University or Somerset College here in Robina,” Mrs Griffen said.
Related Reading: Construction Starts Early On Bohème at Robina
According to Mrs Griffen, New South Wales buyers are leading the charge with a dozen sales worth a combined $6 million at Bohème Apartments.
Former Sydneysider Shirley Sun made the move to Gold Coast City in search of her first home and chose Bohème Apartments due to its growth potential.
“Robina has an upmarket look and feel because it’s a relatively new area on the Gold Coast, although it still has plenty to offer with a major regional shopping centre, a private university, good schools and lots of businesses, which means job opportunities,” she said.
“Robina has all of the city conveniences that I enjoyed in Sydney but it’s not nearly as crowded and properties are much less expensive here,” Ms Sun said.
Another Sydney resident Johanna Licuanan, principal solicitor of Sydney-based Licuanan Lawyers, also purchased an investment property at Bohème Apartments due to Robina’s reputation as both a lifestyle and business hub.
“I was looking to buy an apartment in Robina as a home for my elderly parents and I ultimately chose Bohème Apartments because it offers a good balance between lifestyle for owner-occupiers and value for investors,” she said.
“Bohème Apartments is well connected to major transport, with train and bus stations nearby, along with easy access to the motorway which means I can head to the airport within about 20 minutes when I need to go back to Sydney for business.
“I think Gold Coast City will eventually catch up with Sydney and Melbourne in terms of prices, so there’s plenty of room for growth, especially in Robina which is well serviced by infrastructure and amenities.”
The strong demand for housing and commercial property in Robina from interstate investors follows large investment in the area with $1bn of investment pouring into the area and various development projects underway.
realestate.com.au’s New Apartment Hotspots (March – May 2015)
2. West End
3. South Brisbane
10. Spring Hill
Methodology: realestate.com.au reaches its findings by taking the most viewed apartment developments in the Buy and New Homes sections for each suburb over the course of three months. It compares the number of views on developer listings against the number of available developments in that suburb (suburbs must have minimum two developments to be considered).
1. realestate.com.au internal statistics, March 2015 – May 2015, based on views per development in the Buy and New Homes sections.
Queensland’s top millionaire streets, where every home is property gold
Renters struggling to find homes on the Gold Coast
Renters on the Gold Coast are facing a tight market with vacancy rates among the lowest they have been in several years.
People seeking rental homes on the coast high prices, crowded inspections and run-down properties are all too common.
Many are choosing to move in with others to reduce costs or find themselves paying more than they bargained for.
The Real Estate Institute of Queensland (REIQ) reports rental vacancy rates on the Gold Coast were at 2.2 per cent in December 2014. That is up from a five-year low of 1.7 per cent in June that year, but it is less than half of its highest point of 5.2 per cent in June 2011.
Meryl from Tugun has told ABC Gold Coast’s Bern Young that she and her husband shad pent hours a day looking for a new place to rent since December 2014.
“Two hours in the morning, two hours in the afternoon on the internet, going to open houses,” she said.
“Both my husband and I have good jobs and we only found a place three weeks ago.”
They were forced to move when the owner decided to sell their house and wanted to find somewhere cheaper than the $640 a week they were paying.
“Well no, it didn’t happen, we were looking at $750 places in the end, hoping that our boys would come back home and help with the rent,” she said.
“It’s pretty ironic; you want your kids to go but being 50 plus you want them to come back and help with the rent.”
Meryl manages an opportunity and food relief store in Currumbin and says she has seen an increase in familes seeking help.
“Not all of them have rent assistance,” she said.
“They’re just people like myself who pay bills and rent first and just don’t have enough money left for food.”
Increased numbers of renters in the market
REIQ Gold Coast chairman John Newlands says dozens of people are regularly turning out to rental inspections across the city.
“You hear about those sorts of things in Sydney and Melbourne but not on the Gold Coast,” he said.
“It just shows you the amount of people that are in that rental market looking to secure something.”
Mr Newland says a revival in the tourism and construction industries, especially in the lead-up to the 2018 Commonwealth Games, is behind the turnaround.
“Construction’s in full swing at the moment, there’s many major infrastructures and projects that are being built,” he said.
“High-rise buildings are starting to be rebuilt.”
Making your application count
With so many people competing for properties, it can be difficult to make your application stand out.
“Sometimes it will get down to the people’s background, their income, their affordability, how long they want the property for,” Mr Newlands said.
“Those sorts of matters are what a landlord might look into.”
He offers this advice to potential tenants: make sure you have all of your documents in order.
“Because if some of that’s missing and someone else has all the supporting documentation they may find it easier to go with that application,” he said.
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