Cairns property View – April 2019

Cairns property review April 2019

The Cairns property market still looks flat; the latest REIQ Market Monitor report has recently come out, it details stats for the December Quarter 2018. I have quoted relevant sections below.

“After a bumpy year or two, the Cairns property market appears to be holding its ground with prices relatively steady compared to a year ago. The Cairns median house price reduced 1.2 per cent over the year ending December to finish 2018 on $405,000.Its unit market posted similar yearly results with its median price flat at $230,000.”

April 2019 Cairns property“As the federal election draws closer (scheduled for May), real estate markets are slowing. This is typical, however, we are seeing added nervousness in the market attributable to the negative gearing debate which is fueling investor concerns about entitlements should a Labor Government prevail.”

“It appears that the Cairns housing market is stabilising with prices holding their ground over the past 12 months. It is a different, and far more positive story for its unit market, where prices have grown over the past quarter and are classified as being in a rising market. Only time will tell if the most recent median unit price increases are a sign of more growth on the horizon.The volume of sales for both dwelling types is continuing to fall, however, the number of unit listings has contracted over the past year.”

The most recent HTW Valuers report also reflects the static Cairns market quoting “…the Cairns property market is still suffering from external malaise and is yet to budge from a ‘Steady State’ position.”

Have a great month!
Cheers, Daniel 0409 265 326

 

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