Cairns Property News - April 2024

The Cairns property market has recently seen much more enquiry from investors due to excellent rental returns.

■  Cairns Investors
There has been a trend towards investment just south of Cairns due to affordability. Values in Cairns suburbs continue to rise with sellers pricing some investors out of the market. Traditional ‘investor’ stock in the our market is generally split as 60% units and 40% detached houses. Cairns has traditionally had (and currently has) a very low residential rental vacancy rate. This dynamic is a strong reason for higher rental yields.

■  Around the country
Regional markets have shown a slightly stronger quarterly growth rate over the past five months than their capital city counterparts. Over the past three months, the strongest regional markets were aligned with the strongest capital cities. Regional WA (+5.3%) led the pace of gains, followed by Regional SA (3.9%), Regional Queensland (+3.2%), and Regional Victoria (-0.1%). The other regional states were also in decline. 

■  REIQ News
As from May 1st there are now NEW Form 6's to be used when appointing your agent. The form is a contract between the agent and Seller, which sets out the rights and obligations of both parties. For more explanation please feel free to give me a call.

Helping you with your real estate journey

DANIEL SHEEHAN - 0409 265 326