Tuesday 5 August 2014

August 2014 Edition - Is this an economic boom?

Cairns market update


House prices in Cairns have been gradually increasing over the last three years, with their median price rising by 6.1% between the period from May 2011 to May 2014. The median unit price has also slowly increased, by 7.2% over the period from May 2012 to May 2014.

The expectation is that Cairns property price increases will accelerate during 2014-15 as demand continues to strengthen and the supply of property available continues to decline. The supply of property for sale in Cairns is shrinking, with houses and units selling faster than they are being listed for sale. Residential land stocks are also diminishing.

However there’s a lot of latent stock out there from people who have been wishing to sell for some time, but have been deterred from doing so by the state of the market and/or the prices achieved. Once prices start to rise, and in particular once they get back to the levels of the previous peak, stock will come onto the market at a faster rate.

Definition of 'Median'

The middle number in a sorted list of numbers. To determine the median value in a sequence of numbers, the numbers must first be arranged in value order from lowest to highest. If there is an odd amount of numbers, the median value is the number that is in the middle, with the same amount of numbers below and above. If there is an even amount of numbers in the list, the middle pair must be determined, added together and divided by two to find the median value. The median can be used to determine an approximate average.

The median is the number in the middle: 2, 3, 11, 13, 26, 34, 47

AQUIS update

Unless you have been living under a rock, you will have heard about the Aquis Resort development. You might be asking yourself what exactly is it and how will it effect Cairns and myself?
Here's a brief run down of the project: 340.6 hectares of rural land at Yorkeys Knob is going to be developed in 2 stages with the intention of being Australia's largest, world-class integrated resort. The scheduled opening date is in 2018 and developers expect the resort and it's facilities to attract up to 1.5 million guests year.
Stage 1 :
  • An 20 hectare reef lagoon (artificial lake) and island within the development site
  • 7,500 rooms across 8 luxury hotel brands
  • An international class casino
  • High-end retail shopping, and a variety of restaurants and bars.
  • Resort entertainment features are said to include a 23,000sqm convention and exhibition center, 2 theaters, a cultural heritage center and an aquarium
  • Sports precinct including a 18 hole golf course, tennis course and horse trails
  • Cost - $5.05 billion
  • 3750 construction jobs
  • 11,000 operational jobs
Stage 2
  • 3 additional hotels including 3500 rooms
  • A second casino
  • Additional facilities including: an additional theatre; retail shopping; and a rainforest
  • Cost - $3.1 billion
  • 3500 construction jobs
  • An additional 9000 operational jobs
The project developers have made a commitment to use local businesses where possible and it would undoubtedly have a huge impact on our local economy.The project's Environmental Impact Statement is available for you to read.

But the big question is ... will this be an economic boom ... or economic gloom?

In next month's newsletter I will look into the potential impact of such a large development on our local market.
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!

How to sell your home for more

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.
6 Fitch Court, Stratford

Feature property

STRATFORD DREAM HOME!

This immaculate home exudes class, style and relaxation. Built over two levels, Fitch Court offers a full family home upstairs in addition to a self-contained granny-flat downstairs. 
A wooden walkway leads to the main entrance of the home. Inside you will find cathedral height ceilings and gorgeous polished timber floors that run throughout the home and concertina doors and windows. With fans through, and lots of natural light, all these features combine to create an elegant, open and fresh living space. 
Inside the entertainer’s kitchen are stainless steel appliances, including gas cooktop, plus ample bench and storage space are on offer. The breakfast servery opens onto the huge undercover veranda where you can have family BBQs overlooking the lagoon-style pool.

The property:
  • 5 Bedrooms 
  • 3 Bathrooms
  • 2 Car parks 
  • Air conditioning 
  • Huge Deck
  • Pool
6 Fitch Court, Stratford QLD
Click here to book your free property appraisal

Testimonials

"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 of my friends or co-workers!"
Nadine B

"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 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."
Dianne

"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.