Cairns market maybe slightly improving is some areas?

[Nelly]

I thought this thread was about the current property market?

And AQUIS is big driver of the property market according to you yourself so either reply to what I actually wrote or do not bother. The culture in Cairns is an ongoing issue surrounding developments and AQUIS is just another example of projects being spruiked sans robust scrutiny.

 

[JenJen]

Honestly JenJen you must suffer from 'posting amnesia'. You commented that Redlynch and Mount Sheridan were sellers markets. Therefore buyers should look elsewhere and I don't recommend the crap suburbs of Cairns.

Are you seriously suggesting that I have no right to contribute my observations? I share a couple of references to a couple of suburbs stats via a site which others are also referring to on this thread and I am committing 'business kamikaze'? That is a pretty big leap. What is your agenda here?

 

[JenJen]

And AQUIS is big driver of the property market according to you yourself so either reply to what I actually wrote or do not bother. The culture in Cairns is an ongoing issue surrounding developments and AQUIS is just another example of projects being spruiked sans robust scrutiny.

Really? Nelly, Aquis, the economy and politics aside, what are you saying about the current property market?

 

[Jaggannath]

According to our resident Cairns spruiker all the good suburbs are now sellers markets so the opportunities have past, please look elsewhere.

Actually, she was quoting the results of the website Azazel posted, boommap

 

[JenJen]

Anyway getting back to Cairns it would seem like the market has been stagnant and some prices have even dropped over the 6 months that has passed. Infact some of the houses I looked at way back then are still on the market. I guess the high unemployment and high insurance cost has kept buyers away.

There are plenty of other reasons for properties to be still on the market. Flooding, crime hotspots, land size, house size, school zones, termites etc. Or were you looking at units?

 

[doozer]

There are plenty of other reasons for properties to be still on the market. Flooding, crime hotspots, land size, house size, school zones, termites etc. Or were you looking at units?

Flooding: Can't remember any a time even with Cyclones Yasi and Ita where multiple properties sustained significant flood damage. Cairns probably has the best water drainage infrastructure in the country.

Crime hotspots: Hasn't affected high crime areas in NSW such as Mount Druitt and western Sydney generally.

House size: Not really sure what the argument is here?

School zones: Is this a joke?

Termites: Yes they are HUGE. Chomping their way through each suburb since 2006 when the slump started.

Yes the property market isn't affected at all by high insurance costs but don't tell Far North Queensland Law Association President Julian Brown who said "that his home's insurance premium had doubled to $3200 a year on a mid- range Cairns home without previous losses." Cairns Post Nov 2013

And Rick Carr of Herron Todd White is right off the mark suggesting employment has anything to do with the property market: ?There isn?t a lot of confidence out there. Businesses seem to be more concerned about staying afloat than hiring for the next boom.? Cairns Post April 2014. I mean honestly as if 1 in 5 young people in Cairns being out of work has anything to do with being a driver of demand for property.

Sheesh Jenko, you're off with the fairies suggesting employment or insurance costs has anything to with property prices. My recommendation is to look out for suburbs where termites can ride surfboards down flooded streets right into school zones in high crime areas. Termites will mix the criminals who congregate on small land blocks and plot property slumps.

 

[JenJen]

These graphs were accessed via SQM research on 3/10/2014 via this website http://www.sqmresearch.com.au/graph_median_weeks.php?postcode=4879&t=1. They show the rate of change in weekly vendor sentiment (based on median asking prices) in various post codes across the region, from the Northern beaches through to Edmonton in the South.

I would interpret them as indicating more than a slight increase in vendor sentiment in a number of areas.

View attachment 4879.pdf
View attachment 4878.pdf
View attachment 4868.pdf
View attachment 4870.pdf
View attachment 4869.pdf

 

[jameso]

You should start your own seminars Jen.

 

[JenJen]

Flooding: Can't remember any a time even with Cyclones Yasi and Ita where multiple properties sustained significant flood damage. Cairns probably has the best water drainage infrastructure in the country.

I would suggest investors do their own due diligence. The attached was accessed from the draft Cairns Regional Council Planning Scheme online mapping today via this link: https://stratus.pbondemand.com.au/c...council/?mapcfg=Cairns Region Planning Scheme

View attachment flooding.pdf

 

[doozer]

Cairns is one of the wettest parts of Australia. However I standby my comment that because of this fact, it has some of the best water management infrastructure in the country.

Will it ever flood where properties would be under threat? Who knows. It would though have to be a catastrophic event where a storm surge and king tide surge combined.

But anyways, again I'm failing to see the point of these links. They are selected to support JenJen's argument. And I have selected material to support my argument which says employment issues and insurance costs are more influential drivers of a property market than flood zones, school zones, land sizes and termite inundations.

Which ones are more valid? Up the individual to decide that. But nonetheless I find it bizarre that a FNQ Buyers Agent would post a link saying vendor sentiment is up and then post a link showing most of Cairns inner suburbs are in flood zones.

JenJen again is doing a disservice to her business, all to make a point. Funnily enough which is in her opinion that the Cairns Property market is surging ahead. It's simply not.

What it is doing is improving in some areas and some well placed, well priced property is getting snapped up. However when you have units in some complexes going for $35k to $50k, you know that other areas of Cairns are struggling and may continue to do so for some time.

 

[JenJen]

Flooding: Can't remember any a time even with Cyclones Yasi and Ita where multiple properties sustained significant flood damage. Cairns probably has the best water drainage infrastructure in the country.

Crime hotspots: Hasn't affected high crime areas in NSW such as Mount Druitt and western Sydney generally.

House size: Not really sure what the argument is here?

School zones: Is this a joke?

Termites: Yes they are HUGE. Chomping their way through each suburb since 2006 when the slump started.

Yes the property market isn't affected at all by high insurance costs but don't tell Far North Queensland Law Association President Julian Brown who said "that his home's insurance premium had doubled to $3200 a year on a mid- range Cairns home without previous losses." Cairns Post Nov 2013

And Rick Carr of Herron Todd White is right off the mark suggesting employment has anything to do with the property market: ?There isn?t a lot of confidence out there. Businesses seem to be more concerned about staying afloat than hiring for the next boom.? Cairns Post April 2014. I mean honestly as if 1 in 5 young people in Cairns being out of work has anything to do with being a driver of demand for property.

Sheesh Jenko, you're off with the fairies suggesting employment or insurance costs has anything to with property prices. My recommendation is to look out for suburbs where termites can ride surfboards down flooded streets right into school zones in high crime areas. Termites will mix the criminals who congregate on small land blocks and plot property slumps.

Sarcasm, ridicule, and personal attacks don't exactly add to the discussion about the state of the Cairns property market. I would recommend that investors look at actual property market indicators and trends, such as:

Days on the market
Sales
Stock on the market
Demand
Asking prices
Vacancy rates

 

[JenJen]

But anyways, again I'm failing to see the point of these links. They are selected to support JenJen's argument. And I have selected material to support my argument which says employment issues and insurance costs are more influential drivers of a property market than flood zones, school zones, land sizes and termite inundations.

Doozer, the irony of this is that you are not actually providing or sharing material to support your argument, which consists mainly of strongly held opinions and below the belt tactics directed entirely at me. You are trying to argue a case about what drives the property market, rather than the state of the market, or the rate at which might be improving, which is what I thought this thread was about.

 

[doozer]

Once again JenJen, you mustn't read my posts because I posted material from your favourite source of information the Cairns Post and Herron Tood White.

But if that's not enough for you here;s material for unemployment in Cairns which shows the area's unemployment rate is significantly worse than in 2006.

http://profile.id.com.au/cairns/employment-status

As an investor I am looking to invest in areas where there is a low unemployment rate which over the long term will give an area high capital growth.

I'm also looking for yield and for one important sector of the market in Cairns (units) the insurance costs put a huge dent in the net yield.

Here's a link from Cairns Post outlining the massive issue of insurance costs and how it affects the property market:

http://www.cairnspost.com.au/lifestyle/skyrocketing-insurance-costs-in-cairns-and-far-north-force-homeowners-to-dump-policies-and-violate-mortgage-contracts/story-fnjuflgv-1226761409227


There's my supporting material.

 

[JenJen]

Once again JenJen, you mustn't read my posts because I posted material from your favourite source of information the Cairns Post and Herron Tood White.

But if that's not enough for you here;s material for unemployment in Cairns which shows the area's unemployment rate is significantly worse than in 2006.

http://profile.id.com.au/cairns/employment-status

As an investor I am looking to invest in areas where there is a low unemployment rate which over the long term will give an area high capital growth.

I'm also looking for yield and for one important sector of the market in Cairns (units) the insurance costs put a huge dent in the net yield.

Here's a link from Cairns Post outlining the massive issue of insurance costs and how it affects the property market:

http://www.cairnspost.com.au/lifestyle/skyrocketing-insurance-costs-in-cairns-and-far-north-force-homeowners-to-dump-policies-and-violate-mortgage-contracts/story-fnjuflgv-1226761409227


There's my supporting material.

The economic profile data is from the 2011 census, and does little to describe the current state of the property market.

The Cairns Post article you refer to is nearly a year old. It doesn't give an accurate picture of current insurance costs associated with a property located out of the flood zone. Nor does it add any insight into the current state of the Cairns property market, or the rate at which it is improving. Also, the Cairns property market is not dependent on what you are looking for, or where you are looking for it. Neither is it entirely dependent on investors for that matter.

 

[Azazel]

Honestly JenJen you must suffer from 'posting amnesia'. You commented that Redlynch and Mount Sheridan were sellers markets. Therefore buyers should look elsewhere and I don't recommend the crap suburbs of Cairns.

Calm down, she just posted links to some actual data, unlike your anecdotal negativity.

 

[beachy]

The Cairns real estate market has been on the way up since the start of the year - actually since about November 2013 - house prices have increased, unit prices not so much, if any (only in the most sought-after suburbs they have).

I have just purchased and settled on a 4x2x2 house + pool backing onto a reserve high in Mt Sheridan for $360,000 and I bought now because the market has risen and I didn't want to have to pay more for the type of house with features I bought if I waited another 12 months, I certainly would have been paying more. I expect I have paid around 5-10% more now, than I would've 12 months ago.

The Aquis project speculation has put Cairns back on the national limelight (and lot of people are still wondering if and when it will get the green light to proceed) - this speculation IMO has given the Cairns RE market a slight push along.

Cairns is still very cheap as we are coming off a very low base (the bottom of the market was 2012/2013). Yes, there are still good buys around (I reckon I made about $20,000 when I bought the house I got), compared to what has sold recently.

 

[kingchevy]

Bloody hell doozer.

Anyone want some real figures?

3 bedder adam drive in brinsmead bought 2013 early from memory for $320000
got valued at $350000 (note it was valued 4 weeks before at $3400000 due to bank swap needed revaluing also the same valuer)

3 bedder with Pool & Shed in Woree lower bayview purchased 5/11/2012 for $285000 valued august this year for $320000 I would guess if it was valued again now I would hope to see $340000-$350000 considering there is nothing else like it for sale in that area.

These are just 2 properties I know off I have 2 others that haven't been valued lately. but I would think they have increased by at least the same amount I don't care if you buy in cairns but the market hit a low in 2012-2013 and its coming out of it now I don't know if we will get the big jumps we have had in previous cycles but I will sit here making money while you guys argue.

 

[new2this]

Hey Guys,
Looking at IP3 that will become PPoR in a few yrs time. Have narrowed our search to Redlynch in cairns, From what i can gather its about 15 mins out of town nestled in a valley surrounded by hills, Would love some opinions about the area by those who know in regards to livability and of course future CG potential.
Thanks

 

[kingchevy]

Hey Guys,
Looking at IP3 that will become PPoR in a few yrs time. Have narrowed our search to Redlynch in cairns, From what i can gather its about 15 mins out of town nestled in a valley surrounded by hills, Would love some opinions about the area by those who know in regards to livability and of course future CG potential.
Thanks

Nice little area for a PPOR no real major issue's crime etc. close to brinsmead I have a house there and the market is good there. the red beret pub is an icon great meals and a great place for a beer and not to far from redlynch perhaps a little to far from town and the traffic can get a little bit annoying but resovior road runs straight down to aumuller rd. so if you work in the industrial estate its an easy commute.

 

[JenJen]

Hey Guys,
Looking at IP3 that will become PPoR in a few yrs time. Have narrowed our search to Redlynch in cairns, From what i can gather its about 15 mins out of town nestled in a valley surrounded by hills, Would love some opinions about the area by those who know in regards to livability and of course future CG potential.
Thanks

Hi new2this

Redlynch itself is very central. A growing, family oriented suburb, with a decent school, and heaps of development (Bunnings etc). However, it is also geographically constrained. In my view, Redlynch Valley is a stretch; one way in and one way out, with a flood prone road and no chance of another exit - you would need to be pretty keen. The traffic alone, particularly around the Redlynch College zone is something to be aware of. Also consider the terrain. The high side is considered more desirable and therefore more expensive, while the low side is cheaper and has more housing commission. My recommendation would be to stick to the West of the main road, and err on the side of elevation, and good proximity to a petrol station (nearest petrol station at the time of posting being Brinsmead).

Good luck!

Cheers

Jen