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Young professionals and empty nesters are increasingly being drawn to a master-planned suburb in Queensland, with sales steadily rising according to a new report.
Property analyst Urbis completed research on Robina – a 35 year-old master-planned community on the Gold Coast – found “walkability”, “connectivity” and “strong employment growth” had made the suburb an increasingly popular choice for Generation Y and baby boomers.
According to Urbis, Robina’s appeal with these demographics has contributed to rising apartment sales since the beginning of 2011 – with volumes increasing by 19.8 per cent in every six-month period through to the end of 2013.
Lynda Campbell, Urbis senior consultant, said the diverse demographic makeup of Robina was underpinning the rental market and therefore demand for apartments.
“Gen Y residents seek out areas that provide a wealth of job and education opportunities within walking distance, as well as connectivity to other key destinations,” she said.
“Similarly, baby boomers and beyond look to live close to lifestyle-rich amenities such as shopping, dining and major entertainment facilities and key services, such as transport, hospitals, business precinct, schools, university and healthcare.”
Ms Campbell said Robina was likely to continue attracting more Gen Y residents, with employment expected to grow well ahead of the Gold Coast average.
“Long-term employment within Robina is projected to increase by almost 74 per cent, significantly higher than the Gold Coast City figure of 46.7 per cent," she said.
“Job opportunities are available across diverse fields, with business services, retail/hospitality, professional health and community being the largest employers in the region.”
In addition, Ms Campbell said the area was the beneficiary of recent major infrastructure projects, including upgrades to the motorway and Robina town centre. Future projects, such as the rail extension to Coolangatta, would also boost the area’s liveability and investment prospects, she said.
Robina Group director Tony Tippett said the suburb was tightly held and had a strong resale market.
“Some apartment buildings in Robina still retain 90 per cent of the original owner-occupier buyers, 10 years on from completion, so there is a very loyal resident base in Robina,” he said.
“Those who do decide to sell typically upgrade to a new property within Robina.
“These buyers recognise Robina is one of the most amenity, service and infrastructure-rich regions in Gold Coast City, with strong health, education, transport, commercial, retail and sporting facilities… which make it an appealing place to live.”