Cairns Property View – September 2019

Cairns Property View – September 2019

Overall, there are early signs that the housing market has stabilised however, this evidence is much more prevalent in capital cities than regional markets. Some of the property markets that have recorded significantly value falls over recent years have actually recorded value increases over the past three months.

Most of these are located in Qld: Townsville, Cairns, Central Qld and Mackay-Isaac-Whitsunday while Outback SA has seen the largest value increase over the three months despite values being more than 20% below their peak.

Just released; the CoreLogic top 100 list of Australia’s best places in Australia to buy an investment property and the neighbourhoods that will deliver the highest rental returns have been revealed. They are all affordable for average-income earners, Cairns in far north Queensland had three suburbs in the top 10 – all for units.

Woree came in third overall, it delivered yields of 10.8 per cent as tenants paid a median rent of $260 a week. It has a median apartment price of $133,205, marking a 14.4 per cent increase during the past five years.

Nearby Manunda (4th on th list), has rental yields of 9.5 per cent in a suburb with a median weekly rent of $250, and Bungalow a stroll away came in at No. 8.

 

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Daniel Sheehan
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