July Announcement - 11th consecutive month of record-low of interest rates

Facebook Website Cairns market update RBA announcement last week that interest rates are to stay at a record-low of 2.5 per cent for the 11th consecutive month. Over the last year, the Cairns market has been gaining momentum and entered the ‘start of recovery’ phase. With a stronger buyer demand it is evident as we see sales activity lifting considerably. Properties are selling faster, stock is depleting and previously unsaleable stock is now starting to move. Prices have typically increased over the last twelve months in the more popular suburbs, but there has been little change in other areas and overall price movements have been relatively modest. The current median price is $363,000 for an established house (compared to $362,000 as at July 2013) and $193,000 for a unit compared to $191,000 in July 2013. All in all I feel as the market continues its consolidation the recovery will become more widespread and the Cairns market will continue its progression from a buyer’s market to a balance of power between buyers and sellers. For this reason the potential is there at present for astute investment into the Cairns market. So don't sit back and wait, sell to buy now! National market update After 6 months of gloomy predictions about our economy in the mainstream media, a lift in exports suddenly turned the tables in June. Disappointingly, the financial media immediately turned its attention to the likelihood of an interest rate rise.However, a better place to look for indications about interest rates is often the ASX futures market. The ASX reflects the ‘experts’ who actually have money riding on the predictions.After release of the most recent export figures, the ASX futures market was predicting the next rate rise in September 2015 – 14 months away! Yes, the futures market is no guarantee. It is subject to every economic influence imaginable, but its forecast is very different from the media’s. Home Alone? Wealthy foreign investors have been accused of buying homes and leaving them vacant to avoid detection by the Foreign Investment Review Board (FIRB). The problem needs urgent regulatory attention, according to industry experts.The Australian recently reported that the FIRB has not prosecuted a single foreign buyer for breaching foreign ownership rules - which aim to stop foreigners buying existing homes. The government says foreign investors may only purchase new housing stock and temporary residents may only purchase existing housing for use while they reside here. The House of Representatives‘ economics committee has been told foreign investors view the current $85,000 fine as the "cost of doing business". Slowdown ‘Premature’ Sydney & Melbourne’s property markets are considered the litmus test for the rest of the country. BIS Shrapnel says fears of a downturn in the Sydney market are ‘premature’ and that it expects to see  further strengthening over 2014/15 and 2015/16. While some ‘experts’ suggest the market has peaked, BIS says the strength of the market lies in low vacancy rates, low interest rates, relatively attractive yields and expectations of capital gains. Homes Selling Faster In the 12 months to March 2014, houses were taking an average of 80 days to sell while units took 75 days. During the equivalent period in 2013, houses were taking 94 days and units 88. Perth is currently the quickest selling capital city in the country, if you’re selling a house. Sydney takes second place with houses there selling in 59 days. By contrast, Hobart currently has the slowest market with houses there taking 90 days, and in Darwin it’s 86 days. This faster market shows conditions are improving and vendors are empowered in negotiations. Click here to book your free property appraisal

Recently sold Stratford 12 Dalziel Street House Smithfield 21 Katanga Close House Bungalow 11/176 Spence Street Unit Redlynch 21/40-46 Intake Road Unit Holloways Beach 2/9-11 Bouganvillea Street Unit Freshwater 1/5 Le Grande Street Town house Westcourt 7/97 Mann Street Unit Bentley Park 114 Robert Road Double duplex Edge Hill 2/106 Greenslopes Street Duplex My gift to you! Call me for a free appraisal today and get this book FREE!!! "How to sell your home for more" written by Ray Wood (RRP $24.95) will teach you how to maximize you chance of top dollar when selling your property. Call me on 0412 852 369

Recently listed properties Click here to see all of my current listings. Feature property SPACIOUS AND IMMACULATE UNIT WITH SUPER LOW BODY CORP! Perfectly designed for relaxed modern living, this spacious and immaculate unit presents north Queensland style indoor/outdoor Living. It is situated in a serene location in the much sought after Redlynch Valley, within walking distance of shops, buses and shopping facilities. Spend a few minutes in this beautiful valley and you will quickly realise why it is so special. With swimming holes only a short scenic drive away to cool off in and the iconic Queenslander pub (Red Beret) within walking distance, your weekends are looking better already! What makes this even more amazing, is that this retreat is only a 15 min drive from the city centre. The property: Open plan interior, featuring neutral colour schemes and great proportions Pool and BBQ area Bright well-appointed kitchen with a leafy garden outlook Interiors flow seamlessly to the covered entertainers' patio Two great sized bedrooms equipped with built-in wardrobes and air  conditioning Internal laundry and ample storage Under cover carport The location Close to schools Close to iconic Red Beret Pub Close to parks and play areas A short walk to the Freshwater swimming hole. Unit 17 / 58-70 Intake Road, Redlynch Click here to book your free property appraisal

Testimonials "Having moved our listing from another Agent, we were pleasantly surprised at the difference in approach to the whole sale process- the efficient ,calm and down-to-earth manner, the prompt return of our calls and quick responses to all our queries is quite simply what we all vendors expect of our Agents. This agent delivered all these in spades. This agent did an excellent job for us and we look forward to working with him again in the future." Frank C " I found Chris to be extremely personable, always ready to assist throughout the purchase of my first apartment. He was able to answer any questions I had and made the whole process of buying my first property enjoyable. I would definitely recommend his services to any my friends or co-workers!" Nadine B " I found Chris to be very helpful with the purchase of our property. He made a lot of calls to seller negotiating price for us and also pointed us in the right direction for a solicitor. He was very prompt with the returning of calls to me if he did not get to answer when I rang him. I would highly recommend Chris to Any future buyers." Shane P "We would like to thank First National and you [Chris Eustace] in particular for helping us sell our property. We are quite happy and impressed with the manner in which you negotiated the sale and your constant communication with us. Just keep up the good work and a lot of good things will come your way. We wish you good health and greater successes in the future." Frank and Dianne "Just a quick thanks for all your help in selling our duplex on Greenslopes St. We appreciate your pushing things along so we could complete our paperwork while we were in Cairns. We are back on board our boat now after a really busy but great holiday. Best wishes for a happy 2014." Sue and John "This is a very interesting and valuable report. Even though we get excellent feedback from Chris, this will add another interesting dimension to the open for inspection feedback. Any seller would welcome this kind of report. Certainly a great innovation." Frank "Chris is an excellent representative and great ambassador for First National. Polite, helpful, friendly, punctual and great communications made for a seamless transaction, Well done!" Paul P "Thank you Chris Eustace for selling my home. Your enthusiasm and professionalism was so refreshing. You got my price without any "to and fro's". Such a smooth, no fuss sale...and it took just 8 days!  Both myself and my buyer are over the moon!" Karen B "Thank you so much Chris Eustace, Cairns Realtor for selling my unit!!!! I seriously cannot recommend you enough. Coming from having my unit listed ... for over 800 days and having less than a handful of enquiries to listing with you and having numerous offers and a signed contract in 21 days!!!! You rock!!!" Kelly D Contact me for a no-obligation appraisal and receive a book that will teach you how to sell your home for more (valued at $24.95 RRP), absolutely FREE! Copyright © 2014 First National Cairns Central, All rights reserved.