September
2013 newsletter surmised that the Cairns residential property market
was showing signs of movement and that towards the end of 2013 we would
hopefully see some great sales results. In addition, the local economy
was said to be progressively improving, but taking a long time for those
improvements to revive the local property market.
Well the results are in and the Cairns property market is at the start
of its recovery phase. Most of Cairns suburbs are no longer buyers
markets and are moving into a balance between buyers and sellers. Prices
are also now starting to rise slowly. Previously unsellable stock is
starting to move.
The Northern Beaches market is being pumped up by the proposed $4.2
billion Aquis resort development, which in turn is stimulating investors
and we are now seeing confidence in the market. There has been little
change in the Cairns North median house price during the course of 2013,
with the November 2013 median house price trend standing at $362,000*
compared to $359,000* in January 2013.
You may be interested to know within Cairns North during November 2013
there were a total of 15 properties sold. Prices ranged from $142,500**
for a one bedroom apartment, through to $557,500** for the sale of a
three bedroom house.
*According to Pricefinder.com
**According to realestate.com
Sale growth for house’s in the 4870, 4879, 4869 postcodes
Sale growth for unit’s in the 4870, 4879, 4869 postcodes.
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