Cairns Update
- Thread starter chrispy
- Start date
Manoora
Kidders
Some parts of Manoora have commission housing which keeps the prices down.
The price sounds good, fairly low, so close to town. To be on the safe side ring Chris Gay on 07 4031 3913, tell him you are from the forum and I told you to ring and he will tell you whether the area and even the block is OK. He is down to earth and tells it like it is.
Chris
Kidders
Some parts of Manoora have commission housing which keeps the prices down.
The price sounds good, fairly low, so close to town. To be on the safe side ring Chris Gay on 07 4031 3913, tell him you are from the forum and I told you to ring and he will tell you whether the area and even the block is OK. He is down to earth and tells it like it is.
Chris
Manoora Property
Hi Kidders!
I have a 2 bedroom townhouse in Manoora, on Whitfield Crs. It is quite a nice area, but there is a lot of competition. I believe the locals nickname for the area is something like "Lego Land".
I have had my place for a few years now and the value has only just started going up (hope it keeps doing that for a while longer!). I get $160 per week rent for my townhouse.
The area of concern I would suggest checking out is to do with the body corporate. I have mentioned this in other posts on the forum. I pay about $1850 per annum. There are only 6 in the block and there is a pool, so the costs are quite high and are spread across a small number of towhouses. If you believe that the body corporate fees are reasonable, then check to see if the sinking fund looks healthy and whether the other owners in the complex are paid up, otherwise further down the track it could get messy.
Specifically check that the current owner is paid up otherwise you may be liable for any outstanding amounts and will then have to chase the current owner. The body corporate managers should be able to supply this information to you quite readily - don't rely on the conveyancer/solicitor to do this for you as I know that it can be "overlooked".
Good luck!
Regards,
ChrisOs.
Hi Kidders!
I have a 2 bedroom townhouse in Manoora, on Whitfield Crs. It is quite a nice area, but there is a lot of competition. I believe the locals nickname for the area is something like "Lego Land".
I have had my place for a few years now and the value has only just started going up (hope it keeps doing that for a while longer!). I get $160 per week rent for my townhouse.
The area of concern I would suggest checking out is to do with the body corporate. I have mentioned this in other posts on the forum. I pay about $1850 per annum. There are only 6 in the block and there is a pool, so the costs are quite high and are spread across a small number of towhouses. If you believe that the body corporate fees are reasonable, then check to see if the sinking fund looks healthy and whether the other owners in the complex are paid up, otherwise further down the track it could get messy.
Specifically check that the current owner is paid up otherwise you may be liable for any outstanding amounts and will then have to chase the current owner. The body corporate managers should be able to supply this information to you quite readily - don't rely on the conveyancer/solicitor to do this for you as I know that it can be "overlooked".
Good luck!
Regards,
ChrisOs.
Hi Kylie,
I am looking only on the web (and from recommendations from other members). I only know information about Cairns from what I have read as I have never been there. The purchase will be a sight unseen purchase as I am from chilly Canberra.
I will have a look at those areas but I think I have a good property - just getting the necessary checks carried out prior to purchasing.
Thanks for the info,
Cheers,
Kidders
I am looking only on the web (and from recommendations from other members). I only know information about Cairns from what I have read as I have never been there. The purchase will be a sight unseen purchase as I am from chilly Canberra.
I will have a look at those areas but I think I have a good property - just getting the necessary checks carried out prior to purchasing.
Thanks for the info,
Cheers,
Kidders
These towns are not really "further out". That term, to me, indicates the edges of a market. The only thing the rural Tablelands has in common with the tourist Cairns is that they can be found in the same glossy brochures.poscash said:
Don't get me wrong; I'd prefer to live on the Tablelands than the coast. They are just not the same market.
Thommo
Atherton Tablelands
Hi Kylie
We did all the tourist bits this time as all 8 places were let and we had to pay to stay in an apartment and were forced into having a holiday!!!
We drove up to Kuranda and spoke to locals around the market, mainly stall holders. There is a proposal for a major upgrade to the highway to go up to Kuranda, the current road although good is very winding. If this does go ahead then I can see a lot more people working in Cairns and living in the cool higher areas.
We went on to the Coffee Works at Mareeba, what a great place, all the coffee you want for the $5.50 tasting fee. You get to taste the different coffees and can then buy it and have it freshly ground. We bought some, put it in the boot and OD'd on it for the rest of the day.
Then we went on to Atherton, Yungaburra - very cute place - the two big lakes, then down the nightmare road to Gordonvale.
On another day we drove to Innisfail, then down to Paronella Park, and across to Mission Beach. Saw some very cheap real estate at Silkwood, but I am not sure who you would rent it out to with the sugar cane on the wane.
There is further widening of the road out to Gordonvale, which goes right past the new areas of Forest Gardens, and through Edmonton. Using the Southern Access Road you can drive into Cairns from Woree in 8 minutes without speeding.
Living in Melbourne the traffic in Cairns is a joke, you keep wondering when the peak hour is going to start, then you realise you are in it.
Hope this has helped
Chris
Hi Kylie
We did all the tourist bits this time as all 8 places were let and we had to pay to stay in an apartment and were forced into having a holiday!!!
We drove up to Kuranda and spoke to locals around the market, mainly stall holders. There is a proposal for a major upgrade to the highway to go up to Kuranda, the current road although good is very winding. If this does go ahead then I can see a lot more people working in Cairns and living in the cool higher areas.
We went on to the Coffee Works at Mareeba, what a great place, all the coffee you want for the $5.50 tasting fee. You get to taste the different coffees and can then buy it and have it freshly ground. We bought some, put it in the boot and OD'd on it for the rest of the day.
Then we went on to Atherton, Yungaburra - very cute place - the two big lakes, then down the nightmare road to Gordonvale.
On another day we drove to Innisfail, then down to Paronella Park, and across to Mission Beach. Saw some very cheap real estate at Silkwood, but I am not sure who you would rent it out to with the sugar cane on the wane.
There is further widening of the road out to Gordonvale, which goes right past the new areas of Forest Gardens, and through Edmonton. Using the Southern Access Road you can drive into Cairns from Woree in 8 minutes without speeding.
Living in Melbourne the traffic in Cairns is a joke, you keep wondering when the peak hour is going to start, then you realise you are in it.
Hope this has helped
Chris
Thanks for that guys I will take a drive out there and have a look around. I have been to Cairns many times before but that was when I was a Travel Agent not property investor so you look at things differently.
I am incorporating my trip to Cairns as a holiday as well Chris. We will probably stay at Novotel Palm Beach because they have a kids club.
I will definately give Chris at O'Connor and Gay a call and a few of the other agents recommended.
Kylie
I am incorporating my trip to Cairns as a holiday as well Chris. We will probably stay at Novotel Palm Beach because they have a kids club.
I will definately give Chris at O'Connor and Gay a call and a few of the other agents recommended.
Kylie
Does anyone have any info on Manoora as I have heard that the suburb is one to stay away from? Is this still correct or a myth?
Looks as though we will be purchasing our second investment property.
Hopefully it will be a smooth transaction.
I have heard that the demand for rental properties in the Cairns region are in high demand. Is anyone able to confirm / deny this?
Thanks for the info previously posted.
Cheers,
Kidders
Looks as though we will be purchasing our second investment property.
Hopefully it will be a smooth transaction.
I have heard that the demand for rental properties in the Cairns region are in high demand. Is anyone able to confirm / deny this?
Thanks for the info previously posted.
Cheers,
Kidders
geoffw said:
You are right Geoff, the growth is generally less however I don't think you need to worry when going to Atherton or other small towns if you stick to high yielding, +ve cashflow IP's close to town.
If they are cashflow +ve, who cares about slow CG? If I had 10 of these, I'd have a half decent income. If I had 30 then I'd be raking it in.
Didn't Brenda start her empire this way?
I'm more concerned about the effect of the speculative residential property investment bandwagon on the fate of the communities themselves. ie locals priced out of the market.
Triplex
Poscash
For your information the triplex I told you about at post #30 was auctioned this morning. Quoted price was $320-350k. Sold to a Sydney buyer on a phone bid for $321k. Gross rental will be $450 pw
I rang Chris Gay after the auction to find out the result. He thought it was a fair price.
Chris
Poscash
For your information the triplex I told you about at post #30 was auctioned this morning. Quoted price was $320-350k. Sold to a Sydney buyer on a phone bid for $321k. Gross rental will be $450 pw
I rang Chris Gay after the auction to find out the result. He thought it was a fair price.
Chris
Kidders,
the old myth about staying away from the three m's being manoora, mereeba and manunda are no longer valid.
these places still attract tenants and crime is not like it used to be. I have a 1 bedder in manunda fetching $145 per week and since I purchased it 4 yrs ago, it's been empty only 3 weeks.
cheers,
oz
Oztexs said:
Hi Oztexs!
I have had a 2BR townhouse in Manoora for 7 years and in the first 18 months the rent went from $170 to $135, then has very, very, slowly crept up to $160, as of 6 months ago. How does this compare with your experience? Does $160 for a 2BR sound like market rate? My townhouse is in Springfield Crs.
Regards,
Chris.
ChrisOS,
hmm it seems there is quite a difference here.
My place was build in 1999 and is very very well maintained and looks very smart. It is ideally located on Little Street only 5min from the CBD.
Is your property older then 15+ yrs ?
It seems my place attracts single professionals and D.I.N.K's
hmm it seems there is quite a difference here.
My place was build in 1999 and is very very well maintained and looks very smart. It is ideally located on Little Street only 5min from the CBD.
Is your property older then 15+ yrs ?
It seems my place attracts single professionals and D.I.N.K's
Oztexs said:
Oztexs,
My place was built some time in 1989, if I recall correctly, so it is now about 15 years old. I have had some D.I.N.K's, but also Single Income One Child and currently 2 single females. Some tenancies have been for only 6 months, te more common is 18 months to 2 years. It is in a small group of 6, with a pool and is quite an attractive place.
Regards,
Chris.
