Casino Market Update 1st Half 2025
In Q4 2024, Casino* recorded a median house price of $462,500and a median unit price of $310,000.This is an annual (Q4 2023- Q4 2024) growth of 5.1% forhouses, buta softening of -5.2% for units. Comparing Q4 2023and Q4 2024,house sales grew by 6.9%(to 62 sales in Q2 2024) while unit sales declined by -33.3% (to only 6 sales in Q4 2024). Demand for houses remained strong, creating a buffer against higher interest rates. Units have become slightly more affordable for buyers; however, with limited ready-to-sell dwellings planned and land lots needing time for construction, buyers must actfast before property prices rise further.
CHANGE FROM LAST
Casino£ will see approximately$501.2M ofnewprojectscommencingin2025
YEAR HALF YEAR
HOUSE SALES
HOUSE MEDIAN PRICE
HOUSE RENTAL PRICE UNIT SALES
UNIT MEDIAN PRICE UNIT RENTAL PRICE
MEDIAN PRICE Q4 2024
$462K $310K
MEDIAN PRICE Q4 2024
AVERAGE DAYS ON MARKET Q4 2024
79
AVERAGE DAYS ON MARKET Q4 2024
A main mixed-use project is Casino Biohub, which will feature a bioenergy facility capable of processing up to 903,000tonnes per annum of organic waste using anaerobic digestion technology. This will stimulate the local economy through job creation, attracting more people to the area.
Key housing related projects include:
• Hare & Lennox Streets Residential Subdivision (46 Lots)
• 7-9 Callistemon Street (9 Dwellings)
• 146-152 JohnstonStreet (13 Units)
There are a few housing-stock related projects are planned in Casino, adding only a limited number of stand-alone houses and units, which is not enough to answer demand. This is additional pressure on the housing market, which will likely drive prices higher.
AVERAGE VENDOR DISCOUNT*
Average vendor discount reflects the average percentage difference between the first list price and final sold price. A lower percentage difference (closer to 0.0%) suggests that buyers are willing to purchase close to the first asking price of a property.
Average vendor discounts between Q4 2023and Q4 2024 have widened to -5.2% for houses but tightened slightly to -4.7% for units. Market conditions in Casino* still favour buyers, with sellers willing to accept below the first listed price. Although the peak discount period has passed (Q4 2023for houses and Q1 2024for units), current discounts remain attractive, thus an ideal time to enter the market.
The suburb of Casino has historically provided a more affordable market for units than the wider Richmond Valley Local Government Area (LGA), while the median house price is generally on par. This continues in 2024, with the LGA’s median unit price exceeding the Casino suburb’s median house price, making Casino a more affordable entry point forbuyers.
The dominant proportion of homes sold in Casino* in 2024were in the middle-price bracket of $400,000to $499,999(43.0%). Units also recorded most sales (41.4%) in the middle price bracket, of $300,000to $399,999.The premium price brackets are relatively similar for house (16.8% of sales) and units (13.8% of sales). This suggests there is a home for every budget in Casino*.
MARKET COMPARISON
The market comparison graph provides a comparative trend for median price of houses and units over the past 5 years. The main LGA chosen was based on their proximity to the main suburb analysed, which is Casino.
PRICE BREAKDOWN 2024
to $299,999 $300,000 to $399,999 $400,000 to $499,999
RENTAL GROWTH 2025€
House rental yields in Casino¥ were 4.1% as of December 2024,higher than the New South Wales North Coast (3.8%) and Sydney Metro (2.7%) average. This is paired with a median house rental price growth of6.4% in the past 12months to Q4 2024,at $500per week, and a significant decline of -48.9% in the number of housed rented (to 24houses in Q4 2024).This indicates a highly undersupplied house rental market in Casino¥, thus the need for more investors.
4+ bedroom houses have provided investors with +13.7% rental growth annually, achieving a median rent of $580per week.
Casino¥ recorded a vacancy rate of 0.9% in December 2024, below the New South Wales North Coast’s average of 1.0% and Sydney Metro’s 2.1%. Vacancy rates have fluctuated in the past 12 months, but overall declined from1.1% in December 2023, indicating a tighter rental market. Furthermore, a 0.9%vacancy rate is well below the Real Estate Institution of Australia’s healthy benchmark of 3.0%, thus quicker occupancy of rental homes in Casino¥. This is a conducive environment for investors, especially with higher house prices in the past 12months to Q4 2024.
RENTAL VACANCY RATES 2025
PROJECT DEVELOPMENT MAP 2025 ₳
RESEARCH SERVICES
Our research services span over every suburb, LGA,and state within Australia; capturedin a variety of standard and customised products, andinclude:
• Advisory and consultancy
• Market analysis including profiling and trends
• Primary qualitative and quantitative research
• Demographic and target market analysis
• Geographic information mapping
• Project analysis including product and pricing recommendations
• Rental and investment return analysis
OUR KNOWLEDGE
Access to accurate and objective research is the foundation of all good property decisions.
OUR PEOPLE
Our research team is made up of highly qualified researchers who focus solely on property analysis.
REFERENCES
* Casino sales market data and key indicators encapsulates aggregate property market conditions within the suburb of Casino.
** Estimated values are based on construction value provided by the relevant data authority and does not reflect commercial and/or re-sale value.
# 2024 encapsulates sales transactions for the 2024 full year (01/01/2024 – 31/12/2024).
€ Annual rental growth is a comparison between Q4 2023 (01/10/2023 – 31/12/2023)and Q4 2024 (01/10/2024 – 31/12/2024) house median rent figures.
¥ Casino rental market data encapsulates aggregate property conditions within the postcode of 2470.
§ Rental yields shown are as reported as of December 2024.
₳ Project development map showcases a sample of upcoming projects only, due to accuracy of addresses provided by the data provider for geocoding purposes.
£ Projects refers to the top developments within the suburb of Casino.
µ Estimated value is the value of construction costs provided by relevant data authority, it does not reflect the project’s sale/commercial value.
ψ Commencement date quoted for each project is an approximate only, as provided by the relevant data authority, PRD does not hold any liability to the exact date.
Source: APM Pricefinder, Cordell Connect database, SQM Research, Esri ArcGIS.
Disclaimer: PRD does not give any warranty in relation to the accuracy of the information contained in this report. If you intend to rely upon the information contained herein, you must take note that the information, figures and projections have been provided by various sources and have not been verified by us. We have no belief one way or the other in relation to the accuracy of such information, figures and projections. PRD will not be liable for any loss or damage resulting from any statement, figure, calculation or any other information that you rely upon that is contained in the material.
Prepared by PRD Research. © All medians and volumes are calculated by PRD Research. Use with written permission only. All other responsibilities disclaimed. © Copyright PRD 2025.
