For all you FNQ investors - I have just returned from 2 weeks of bliss in FNQ
Headline in the Cairns Post was that Cairns was the fastest growing area in Queensland over the past year, the population grew by 3,000.
Today's paper stated Herron White giving the rental vacancy rate as 2.3%. There are still plenty of people wanting to rent good quality units in the closer suburbs.
My inner suburban and beachside units are doing well but I wouldn't say the same for those in Woree. The rent gets paid on time every time but the way the property is treated by the tenants leaves a lot to be desired.
Properties have increased substantially in the 18 months I have been investing there. When I first purchased in January 2003 you could buy a 2 br flat for mid 50s, low 60s. Starting price now is 95k. Rents, of course, have risen accordingly. Tenants appear to be not moving as it is difficult to obtain reasonable price accommodation.
Talking to the locals they see the Edmonton/Gordonvale area as being a growth potential with the advent of a 6 lane highway due to be completed to Gordonvale by the end of the year. I still felt Edmonton had a way to go as you have to drive past new areas still being developed to get there (Bentley Park, White Rock, Mt Sheridan).
There is a dual highway planned to Kuranda, although the locals are opposing this. If this goes ahead this would open up easy access to Kuranda and Atherton/Mareeba.
The Juniper development at Yorkeys has now been all fenced off and sales have commenced. Sewerage scheme had commenced at Machams. The reclaiming of the beach at Holloways, following the recent storms, had also started with the Cairns Post reporting that some owners had to pay up to $90k each toward the work.
Chris
Headline in the Cairns Post was that Cairns was the fastest growing area in Queensland over the past year, the population grew by 3,000.
Today's paper stated Herron White giving the rental vacancy rate as 2.3%. There are still plenty of people wanting to rent good quality units in the closer suburbs.
My inner suburban and beachside units are doing well but I wouldn't say the same for those in Woree. The rent gets paid on time every time but the way the property is treated by the tenants leaves a lot to be desired.
Properties have increased substantially in the 18 months I have been investing there. When I first purchased in January 2003 you could buy a 2 br flat for mid 50s, low 60s. Starting price now is 95k. Rents, of course, have risen accordingly. Tenants appear to be not moving as it is difficult to obtain reasonable price accommodation.
Talking to the locals they see the Edmonton/Gordonvale area as being a growth potential with the advent of a 6 lane highway due to be completed to Gordonvale by the end of the year. I still felt Edmonton had a way to go as you have to drive past new areas still being developed to get there (Bentley Park, White Rock, Mt Sheridan).
There is a dual highway planned to Kuranda, although the locals are opposing this. If this goes ahead this would open up easy access to Kuranda and Atherton/Mareeba.
The Juniper development at Yorkeys has now been all fenced off and sales have commenced. Sewerage scheme had commenced at Machams. The reclaiming of the beach at Holloways, following the recent storms, had also started with the Cairns Post reporting that some owners had to pay up to $90k each toward the work.
Chris
