Investing in Cairns Property
The Cairns Property Market seems to be on the rise. It continues to outperform nearby regional centers like Townsville and Mackay. While real estate prices have dropped in other regional areas, the sales and property values in Cairns have largely remained the same with a slight increase in median house price.
The Cairns economy continues to slowly improve. With a growing economy, house and unit prices are predicted to show solid growth for the remainder of the year. There has been tourism driven construction which has lead to the welcome sight of cranes in the Cairns skyline. Another factor affecting the economy is the improved employment rate. Recent figures show the lowest unemployment rate for Cairns in eight-and-a-half years! The July unemployment rate was as low as 5.9%.
Cairns Property Value
Recent results have showed that Median property prices have increased. In fact, Cairns is the only major Queensland region outside of the southeast corner to record a significant rise in median house prices over the past five years. The latest data from Domain shows the median house price was $425,000 in the June quarter.
There was a significant decrease in Cairns unit prices around 2010. Just recently,however, unit prices have slowly started to increase following a lengthy period of subdued activity. The median unit price increased by 3.3 % over the June quarter to $255,000 – a rise of 6.7 per cent in the past year!
Cairns is an appealing destination for many people looking for a tropical lifestyle change. Consequently, it is a very transient city with high rental demand. Rental vacancy rates have been consistently low for the last five years. The latest trend rental vacancy rates for April 2017 stood at 2.0%, for houses, 1.7% for units and 1.8% for the market overall. This, combined with the low level of new rental supply being created due to low levels of new housing construction, rental market conditions are expected to stay tight for some time.
Rent City Cairns
If you are thinking about investing in the Cairns Property Market, you need a professional, experienced Manager with knowledge of the local market. Look no further than Rent City Cairns.
- We stand out from other property managers by providing the highest standard of service to our clients.
- At Rent City our owners always receive our full attention because managing their valuable investment is all that we do.
- We have become experts in property management and as such, we provide a service that far exceeds that of our competitors.
- Our experienced team will work with you from the beginning, offering guidance and advice throughout your time with us.
- At all times during our association, you will benefit from our industry experience and knowledge of the current local market.
- We want to ensure that you receive the maximum financial return on your investment! If you want a manager that stands out from the rest, contact us!
Rent City Cairns
3 / 140 Mulgrave Road, Westcourt Qld 4870