Cane paddocks? Has little to do with stagnant growth. It has everything to do with employment. The strong dollar has not been good for Cairns which takes a lot of its economic activity from the tourist dollar. The mining downturn may be good news for the area with skilled workers leaving the mining towns and coming to Cairns but there has to be work for them and there is not much infrastructure development going on. The cuts from the Liberal Govts both state and federal have been devastating to Cairns and the region. Tourist after tourist are all saying the same thing: they have never seen the town so dead. Cairns is not heating up, its scratching its way out of a long slump and it's going to be a slow and long climb. Aquis should not be seen as the saviour because it is not a done deal, far from it.
Cairns is heating up fast
- Thread starter JenJen
- Start date
Doozer, are you suggesting that Cairns doesn't have its own FIFO miners? All the information I have would suggest otherwise. Also, do you have actual tourism stats to illustrate your observations? In relation to infrastructure, this is a snapshot of infrastructure projects from http://www.cairnsinvestment.com.au/invest-here/current-major-projects, accessed on 30 September 2014:
"Major projects currently underway or planned for Cairns and the region include:
$8.4 billion Aquis Great Barrier Reef Resort at Yorkeys Knob.
$1.4 billion Ella Bay Resort near Innisfail
$1 billion redevelopment of Cairns Airport.
$500 million Mount Emerald Wind Farm on the Atherton Tablelands.
$456 million Cairns Hospital Redevelopment.
$250 million Sheraton Mirage redevelopment at Port Douglas.
$616 million Bruce Highway upgrade at Cairns.
$40 million Cairns Shipping Development Project.
$33 million City Centre Alive project.
$25 million expansion to the Redlynch Central Shopping Centre.
$25 million Homemaker Centre at Portsmith.
$20 million Cooktown Foreshore and Webber Esplanade Revitalisation (details below)
Rainforest Water Australia project (details below)
Plans for multi-million dollar CQ University CBD campus.
Mount Garnet Tin Project.
$1 million upgrade to passenger facilities at Yorkeys Knob Boating Club.
$5 million expansion of the DFO shopping centre"
This website gives a broad picture of what's going on in terms of investment: http://www.cairnsinvestment.com.au
Also, there are plenty of market stats that support the assertion that the Cairns property market in general is heating up. If you're not into stats, I recommend having a look at the number and rate at which properties are going under contract or talking to a few agents in the area. I also recommend going along to some open for inspections or an auction or two. You might be surprised.
Cheers
Jen
I am not disputing that Cairns' property market is improving, what I am saying is that it's not what I call a hot market at the moment. The unit market is lagging because of the ridiculous insurance costs and the housing market is not breaking any records. FIFO workers are here but not in huge numbers so it's not a demographic that is having a massive impact on the housing market like it did say for Mackay a few years ago.
As for the developments you mention, well I have a more realistic view that is not all beers and skittles:
Aquis: Not a done deal
Tablelands wind farm: Not if Joe Hockey has anything to do with it
Bruce Hwy upgrade: A lot of contractors were brought into town for that
City Alive: Many businesses folded because of this upgrade due to the streets being closed off
DFO: Walked through there lately? Not exactly buzzing is it?
Cairns is improving and there is some investment filtering through but with the dollar still high and unemployment rising the conditions are not superhot, they are luke warm.
As for the developments you mention, well I have a more realistic view that is not all beers and skittles:
Aquis: Not a done deal
Tablelands wind farm: Not if Joe Hockey has anything to do with it
Bruce Hwy upgrade: A lot of contractors were brought into town for that
City Alive: Many businesses folded because of this upgrade due to the streets being closed off
DFO: Walked through there lately? Not exactly buzzing is it?
Cairns is improving and there is some investment filtering through but with the dollar still high and unemployment rising the conditions are not superhot, they are luke warm.
Fair enough, the Cairns market is 'heating up', rather than 'hot'. Of course it's all relative, and it does depend on the suburb you are looking at.
As for the impact of FIFO miners, my immediate experience is that two different FIFO families are offering to purchase a property I am putting an offer on, so I'm not convinced they are not having some level of impact!
Also, I came across this economic research report which addresses the issue and may be of interest: http://www.cummings.net.au/pdf/recent/J2776CairnsEconomy_RecentTrends.pdf.
Cheers
Jen
As for the impact of FIFO miners, my immediate experience is that two different FIFO families are offering to purchase a property I am putting an offer on, so I'm not convinced they are not having some level of impact!
Also, I came across this economic research report which addresses the issue and may be of interest: http://www.cummings.net.au/pdf/recent/J2776CairnsEconomy_RecentTrends.pdf.
Cheers
Jen
To say in the subject matter Cairns is "heating up fast" is a complete mistruth.
The conversations trying to spruik a region that is one level above life support are "heating up fast".
And yes, I've had some time and involvement in greater Cairns, a brother in law and friends who are also investors live in Freshwater.
Jobs aren't going anywhere at the moment.
The conversations trying to spruik a region that is one level above life support are "heating up fast".
And yes, I've had some time and involvement in greater Cairns, a brother in law and friends who are also investors live in Freshwater.
Jobs aren't going anywhere at the moment.
Gronko, to say that is a 'complete mistruth' is a very strong assertion, and it would be good to see some more information to support it.
The intention of the thread's headline is referring to the recent observable shift in the property market, and is supported by evidence. It is not an account of the jobs or unemployment, which you focus on. I've analysed and commented on that elsewhere, and there is some relevant data in the information contributed by others here.
Are you basing your opinion on the perception of your contacts, and your own involvement in the region, or is there something else that would add some weight to the debate?
Cheers
Jen
Thumbs up, In particular Brisbane IMO..a real no brainer..forget Cairns shmans,, just follow the state that is most likely next to have good growth. simple really.
I've been active in the Cairns market over the last 12 months and purchased 3 cheapie units.
There's no doubt it's heating up, about this time last year I bought two 2 brm units for $74k and $85k. Both had been on the market for well over 12months. However in the last 6 months at least, there have been several sales in each of these complexes at $100k plus and sold within a month.
There's no doubt it's heating up, about this time last year I bought two 2 brm units for $74k and $85k. Both had been on the market for well over 12months. However in the last 6 months at least, there have been several sales in each of these complexes at $100k plus and sold within a month.
I think JenJen you have started this thread to promote your own skewed, one sided self-interests in the region.
YIKES! Keep an eye on CAIRNS!! Thread started 22-08-2013....
I have read both threads and I agree that there is growth and activity in the region, my parents in in Trinity Beach and own an IP in Clifton Beach, so I understand the area, but I feel you are trying to stimulate or create hype on the forum.
I don't feel your input into the forum is for the benefit or assistance of fellow members.
My 2 cents.
David
YIKES! Keep an eye on CAIRNS!! Thread started 22-08-2013....
I have read both threads and I agree that there is growth and activity in the region, my parents in in Trinity Beach and own an IP in Clifton Beach, so I understand the area, but I feel you are trying to stimulate or create hype on the forum.
I don't feel your input into the forum is for the benefit or assistance of fellow members.
My 2 cents.
David
I agree David
Enough said.
On a personal note, I am currently at capacity, which is why I've not been active on the forum lately!
If you're looking for an investment in a less frenetic market, you might consider other areas closer to the bottom of the market.
Cheers
Jen
Enough said.
glad I'm not the lone dissenting voice.
Hi Jen,
To answer your questions: yes, yes and no. You've created an entire thread based on this assertion, so the onus is on you, not me. Not sure whether these forums are any better than the Frankston forums.
But by all means continue to provide us all with hard data and fact backing your claims that Cairns is definitely heating up fast.
David
The topic of this thread is about the Cairns property market heating up. I would have thought that well researched contributions are of more benefit or assistance to fellow members, than personal negative comments that do nothing to advance the discussion. A majority of investors do undertake and appreciate research, and make their own judgements regarding the benefit of contributions for themselves. So how about a contribution that actually debates the issue?
Cheers
Jen
Apologies if my post was negative. I just don't believe your advice is impartial. Nor do I believe you can be debated with. Your views, advice and research data are all backing your own self interests and this thread has the feel of a marketing campaign/ sales pitch, drumming up interest promoting your position as a buyers agent in Cairns.
Although my original post may have not have contributed to the forum, my opinion and stance on this thread IS in the best interest of the forum community.
I'm happy to keep providing information and responses to contributions that have some substance, but the onus isn't on me to debate unsubstantiated opinions and emotions.
Cheers
Jen
You've obviously got some very strong beliefs, feelings, and opinions about this thread, as well what 'IS in the best interest of the forum community'.
I am able to provide market commentary, which I will continue to do. Investors who are after individual, personalised investment advice, should consult with a qualified financial advisor.
Cheers
Jen
Nothing against Jen, but just with regards to financial advisors (sorry if I offend any on here) most of them work off a completely different model of financial 'advice'. I cant tell you how many people I know (young people with good income and deposit) wanted to invest in property and went to see a financial advisor and 9/10 times they screwed them over with nonsense and advice that WILL NOT BUILD THEM WEALTH. If your 55-65, have no or few assets then perhaps see a FI, otherwise I would stay away from em! the majority of them have no clue about wealth creation to achieve financial goals.. Words like 'leverage' and 'debt' and 'LMI' are like bombs in their mind.
I was mainly referring to their legal capacity to provide advice. Many have traditionally been focussed on the share market. However, I have come across several that are property focussed. Stuart Wemyss' book, The Property Puzzle, is excellent.
Cheers
Jen
As someone who lives, works and owns property in Cairns I can say without any doubt that the property market in Cairns is NOT heating up fast. It is slowly coming out of the doldrums. The unit market is flooded and body corporate costs are ludicrous. Sure there seems some spike in interest in Yorkeys Knob but everywhere else is plodding along. I agree that the headline of this thread and another thread started by the same user are misleading and no doubt are attempting to drum up business.
This forum is to share information, educate and inform, not spruik. Fortunately the vast majority of users on this forum can spot a spruiker a mile away.
This forum is to share information, educate and inform, not spruik. Fortunately the vast majority of users on this forum can spot a spruiker a mile away.
