Cairns Market
- Thread starter paulz
- Start date
i think you should do a search
Here's one done for you:
http://somersoft.com/forums/search.php?searchid=6101263
But seriously, go the the forum area you are interested in (Where to Buy in this case) and use the search function.
Some returns will appear irrelevant, as Cairns has probably been metioned somewhere in the thread however in the link above there are plenty of actual thread titles addressing your question within the first two pages of search results.
http://somersoft.com/forums/search.php?searchid=6101263
But seriously, go the the forum area you are interested in (Where to Buy in this case) and use the search function.
Some returns will appear irrelevant, as Cairns has probably been metioned somewhere in the thread however in the link above there are plenty of actual thread titles addressing your question within the first two pages of search results.
There is incredibly high unemployment in Cairns, it's not a place I'd be considering without doing a lot of homework
Top deals to be done in Cairns ATM. Unemployment is down from last year. Population migration to area is up due to economy on the upswing and low, low prices compared to rest of country. Yes, BC fees are higher than other areas with increased insurance costs, but this is typical for most of QLD. Rental vacancy is almost 0% for houses and units under 3%. With interest rates tipped to hit 5% this year, most IPs for the area will be neutral geared or very close to it, and some cases positive.
There are some good deals to be had at the moment, at least at first glance. However it's not just that body corp is higher than other places, in some cases it has quadrupled since cyclone Yasi! Many of the large insurers pulled out of the region altogether, leaving some complexes no choice but to insure for ridiculous sums. It's a real issue for the local property market, and has helped drive unit prices way down.
Another thing to consider is that the town is pretty much based just on tourism, and although I've no doubt the market will improve, without economic diversity and jobs I don't think you'll see huge capital growth any time soon. If I was buying another property there, I'd look for an affordable 3 bedroom house to avoid strata issues, not too far from the city.
Another thing to consider is that the town is pretty much based just on tourism, and although I've no doubt the market will improve, without economic diversity and jobs I don't think you'll see huge capital growth any time soon. If I was buying another property there, I'd look for an affordable 3 bedroom house to avoid strata issues, not too far from the city.
Cairns is a tourist driven economy. With the Japanese and South Korean governments committed to weakening their currencies, I do not expect much joy for the local economy as there will be fewer tourists flying in. The high Aussie dollar is also a deterrent to US tourists.
With fewer jobs, one can expect Cairns prices to be sluggish at best.
Great if you are an Aussie retiree planning to move to Cairns to live out your life. Terrible if you are expecting capital gain.
With fewer jobs, one can expect Cairns prices to be sluggish at best.
Great if you are an Aussie retiree planning to move to Cairns to live out your life. Terrible if you are expecting capital gain.
I think not even as a retiree Cairns is good. Everything is pretty expensive here, if you go shopping for food or go to a restaurant, you pay big dollars. Bloody bananas from queensland nearly $3/kg, same bananas in melbourne $1.50. Also they just axed heaps of health jobs, exactly what you need when you are getting older. People wait for month here to get a simple operation done. Unless you have private insurance of course.
If you don't like, then move to somewhere else!!! Stop ya complaining & go elsewhere if you don't like it. I've lived in Cairns all my life and love it!
Thanks for the above everyone... Just and finally have an offer on a property that I hate for the council rates and strata levy fees.. My broker was talking about sales going for $125k waterfront..... I always purchased it as an emotional purchase to be on the beach but thinking of bringing the $$ to the US... Hmmmm. Very timely thoughts.... Thank you!
I love Cairns too... Fabulous spot..... : )
I love Cairns too... Fabulous spot..... : )
