Holloways is popular and well located, but I do recommend that you check the flood maps. As Kesse points out, even if it doesn't go under, it can be an issue for insurers.
Cheers
Jen
Cairns market maybe slightly improving is some areas?
- Thread starter Jenko
- Start date
Holloways is popular and well located, but I do recommend that you check the flood maps. As Kesse points out, even if it doesn't go under, it can be an issue for insurers.
Cheers
Jen
Thanks again Kesse, the flood zone map is a big help, we were looking to spend a max 450k as this would mean my partner could leave work within a couple years but we are realising we may need to spend 500k to get what we want. Will go back to researching. Also we are considering waiting for the wet season to truly hit before we start making offers with the logic being less buyer interest, do you think this is a good strategy or irrelevant? Your thoughts on this would also be appreciated JenJen.
There's some pretty decent places out there in the $450k bracket. Quick squiz on RE.com.au and found these:
http://www.realestate.com.au/property-house-qld-trinity+park-118457575
http://www.realestate.com.au/property-house-qld-trinity+park-118211279
http://www.realestate.com.au/property-house-qld-trinity+park-118353811 (you could really be my almost neighbour in this place!)
http://www.realestate.com.au/property-house-qld-trinity+park-117874375 - this has me really intrigued as looking at the description it would have to be in the Bluewater estate (ie Harbour Drive) and there's a few houses currently being built in the estate but can't pick which one/s it would be. If it really is for around $430k then that would be pretty good value. Think I'll have to give the RE Agent a call as it has me curious now.
I think as far as buying during the wet season goes the holiday season would have more impact. There's not a lot of stock on market at the moment and from reports I've heard there are some people holding off to wait and see what the Aquis announcement is and some that are waiting till the new year to sell. If there was going to be a definite yay or nay on Aquis in the very near future (and you're a betting person) it could be worth waiting till then because if it doesn't go ahead (which a lot seem to think is the case) then there will be a lot of stock go on the market which will quickly change the market and even bring prices down. But, if it does go ahead I think there would be a mini boom over people trying to capitalise on the announcement. Though, in the scheme of things, it will probably still be a while yet before there's anything definite with Aquis and in the meantime prices are steadily rising.
What is on the market at the moment appears to be going fairly quickly which would suggest a sellers market though as a whole it still is most certainly a buyers market. As always, just need to buy well!
Hey again Guys,
Im in a bit of a dilemma, I have put an offer in this morning for 500K on a nice house in Smithfield ( not far from the proposed aquis) and RE is meeting with owners tonight to discuss, im confident they will accept, now for the dilemma.
http://www.theage.com.au/business/t...tel-in-cairns-put-on-ice-20141124-11smcb.html
This is just posted online.....
Now im worried this may cause house prices to drop considerably and am seriously concidering withdrawing my offer.
The house i believe is perfect for me and if offer accepted would be at a good price in todays market.
What would you do?
Im in a bit of a dilemma, I have put an offer in this morning for 500K on a nice house in Smithfield ( not far from the proposed aquis) and RE is meeting with owners tonight to discuss, im confident they will accept, now for the dilemma.
http://www.theage.com.au/business/t...tel-in-cairns-put-on-ice-20141124-11smcb.html
This is just posted online.....
Now im worried this may cause house prices to drop considerably and am seriously concidering withdrawing my offer.
The house i believe is perfect for me and if offer accepted would be at a good price in todays market.
What would you do?
I was talking to a client today before I heard the news and my comments were if Aquis goes ahead there will be a mini boom and if it doesn't then there will be a mini glut as I've heard quite a bit of anecdotal evidence that people wanting to sell having been holding off until there's an announcement thinking it will go ahead and taking advantage of the renewed interest.
One of the re agents I was speaking to seems to have been on the mark - he was saying that Fung was using the proposed Aquis as a bargaining tool with the casino in town. Apparently Fung is trying to acquire one of the major hotels (The Pullman?) and revamp and expand the reef casino.
Be interesting to see if there's more stock on the market in the new year that were the people holding on till an outcome.
In your situation new2this I would look at the big picture as purchasing a PPoR is a bit different to an IP with what is taken into consideration - why are you wanting to buy in Cairns? Are you time sensitive as far as purchasing goes? How long are you looking to be in the market? What are your options if you don't proceed?
I think there may be a very slight softening in the market with the announcement but I don't think it will be all that big as there are other fundamentals there which is making Cairns a market in recovery. Medium term I think the prices will still go up, perhaps just not as quickly if Aquis was a definite goer.
One of the re agents I was speaking to seems to have been on the mark - he was saying that Fung was using the proposed Aquis as a bargaining tool with the casino in town. Apparently Fung is trying to acquire one of the major hotels (The Pullman?) and revamp and expand the reef casino.
Be interesting to see if there's more stock on the market in the new year that were the people holding on till an outcome.
In your situation new2this I would look at the big picture as purchasing a PPoR is a bit different to an IP with what is taken into consideration - why are you wanting to buy in Cairns? Are you time sensitive as far as purchasing goes? How long are you looking to be in the market? What are your options if you don't proceed?
I think there may be a very slight softening in the market with the announcement but I don't think it will be all that big as there are other fundamentals there which is making Cairns a market in recovery. Medium term I think the prices will still go up, perhaps just not as quickly if Aquis was a definite goer.
This is why I prefer big capital cities. If packer pulled out from his casino venture in Sydney, would anyone care? even a year back? no not really...and it wouldn't have a big impact at all on prices.
Regarding your question, if you think its perfect as you say, then id go for it - casino/hotel complex or not. Of course, you need to hold onto it for as long as you can. Time in the market [ not timing the market] will ensure capital gains.
I agree Kesse.
I had also been wondering whether Fung was playing games. Just like on Django where he pretends to be negotiating a big price on a Mandingo fighter, when he really wanted the maid.
I had also been wondering whether Fung was playing games. Just like on Django where he pretends to be negotiating a big price on a Mandingo fighter, when he really wanted the maid.
I doubt he will end up with reef hotel casino buy the sound of it. Rubbish though looks like he will get a casino in canberra I dont know how that works there is something dodgy going on and I am not holding my breathe for aquis. But cairns is not dead in the water if these things dont happen there is more stuff to go ahead in cairns planned in the next 5 years than I have seen in the last 10.
Well they accepted offer and we are going to buy property number 3 in as many yrs, maybe I can change my name now to NotSoNew2This, This property will become Ppor within next few yrs and if Cairns market goes stagnant then will mean no more investing for a few yrs aswell but is the risk we are willing to take to have the house we want in the area we want.
Fingers crossed Aquis mega resort goes ahead and hopefully these other projects go ahead if Aquis doesnt and they werent reliant on that.
Cheers for your help again guys.
Fingers crossed Aquis mega resort goes ahead and hopefully these other projects go ahead if Aquis doesnt and they werent reliant on that.
Cheers for your help again guys.
I was speaking to someone who had seen some plans, although possibly just initial ones, for the Singaporean syndicate project (I think that's the "Seven Towers" one?) and they said the room sizes were tailored more towards the Asian market, ie not overly large. The reasoning was that they were expecting a lot of Asian students at the new CQU campus - which is also to be built in the city centre - and that the parents of the students would be a target market for the towers. Makes some sense.
The city uni campus itself is another fairly major project for Cairns, too.
The city uni campus itself is another fairly major project for Cairns, too.
Probably the smart money knowing that tourism will go well from now on with the lower $A dollar.
See ya's.
For those interested in the REIQ perspective, this is the Cairns snapshot from the Queensland Market Monitor for the September quarter 2014. View attachment Cairns - Queensland Market Monitor Issue24.pdf
Jen
Jen
