Edmonton (Cairns)
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I lived in Edmonton for two years. I liked it. We had beautiful views. The only issue ( if you can call it that ) is that Edmonton is about 14 km from the centre of the city, which can get busy during during 'peak hour'. When I was there, the new estate we lived in was selling 4 x 2 houses for 220-250k. Stupidly, I thought that was expensive at the time : )
Phil
Phil
Edmonton, once a sugar town, was once separate from Cairns, however the southern urban sprawl has basically made a Edmonton into a large southern suburb. I have houses on the other side of town, and hence never really looked in this area, other than to take my kids to the water slide park.
Good points. highway to Cairns, possibility of future infrastructure (need to check this out) good area for families, big high school
Bad points. same highway can be congested in peak hour, further than many other suburbs from city centre
I can't really say anything about possibilities of growth or rental returns, but I think it's worth a look. But size it up against other parts of Cairns based on what kind of property you are looking for.
Good points. highway to Cairns, possibility of future infrastructure (need to check this out) good area for families, big high school
Bad points. same highway can be congested in peak hour, further than many other suburbs from city centre
I can't really say anything about possibilities of growth or rental returns, but I think it's worth a look. But size it up against other parts of Cairns based on what kind of property you are looking for.
Vacancy rates in Cairns at the moment are very high
I have a townhouse at Yorkeys Knob, 3 bedroom, I have dropped the rent by $40pw and still no takers. I have never experienced such lack of tenants. I checked with agent who tells me unemployment is high, the floods have affected the population as well as dengue, so southeners are moving back home.
The only property I have been able to let has been one very close to Cairns.
Chris
I have a townhouse at Yorkeys Knob, 3 bedroom, I have dropped the rent by $40pw and still no takers. I have never experienced such lack of tenants. I checked with agent who tells me unemployment is high, the floods have affected the population as well as dengue, so southeners are moving back home.
The only property I have been able to let has been one very close to Cairns.
Chris
Yep, have to agree with Chrispy - vacancy rates are high - my PM tells me 7.8%in the Northern Beaches. My father has a mid-upper ring property (renting 550/wk last year) that he has had to drop significantly (and wait several weeks) to attract tenants. Many tenants are either moving on, or buying into their own properties..there are tons of FHO and mid-range properties on the market atm....especialy in the newer developments. I have had two tenants in the last year buy PPORs for ythe first time.
From what I have seen there are tons of properties for sale in the Edmonton area and plenty of rentals to choose from. As Chrispy has pointed out there have been a few factors adversly affecting the Cairns market, and I would add the GFC has impacted the major indusrty, tourism, up there significantly.
I have IPs in Cairns currently, and personally, I would be looking elsewhere....
Nadia
From what I have seen there are tons of properties for sale in the Edmonton area and plenty of rentals to choose from. As Chrispy has pointed out there have been a few factors adversly affecting the Cairns market, and I would add the GFC has impacted the major indusrty, tourism, up there significantly.
I have IPs in Cairns currently, and personally, I would be looking elsewhere....
Nadia
Pot calling the kettle black! I think they had NO cyclones up there at all this year, and didn't the recent bad weather we had in SE Qld & Nth NSW cause as much if not more damage than any northern Qld cyclone has?
I have a house in Edmonton that has been consistently let since I bought it a few years ago. There have been 3 different tenants, with only a week or so between, so not too bad.
However I agree with the Northern Beaches scenario - That area doesn't seem to be performing quite so well. Pricier suburbs to begin with maybe.
However I agree with the Northern Beaches scenario - That area doesn't seem to be performing quite so well. Pricier suburbs to begin with maybe.
I spoke to the Agent again this week. They have hit 10% vacancy rate. The Agency had a number of properties open for inspection for rent and no one turned up to any and these were across suburbs.
I believe it will improve toward the end of the year when JetStar go back in and start the new Hub, as there will be workers looking for property to rent. I am hoping the Northern beaches vacancy rate decreases, with the close proximity to the airport. However, my townhouse has been vacant 8 weeks now and I really don't want to wait a few more months!!!
The floods hit Cairns before SE Queensland, so are being overlooked but they were very bad, with the city itself flooded to quite a depth.
I am not sure what to do now, I can't rent it and I can't sell it, so maybe I will furnish it and use it myself for a few months while the weather is cold in Melbourne Not sure how my boss will take that...
Chris
I believe it will improve toward the end of the year when JetStar go back in and start the new Hub, as there will be workers looking for property to rent. I am hoping the Northern beaches vacancy rate decreases, with the close proximity to the airport. However, my townhouse has been vacant 8 weeks now and I really don't want to wait a few more months!!!
The floods hit Cairns before SE Queensland, so are being overlooked but they were very bad, with the city itself flooded to quite a depth.
I am not sure what to do now, I can't rent it and I can't sell it, so maybe I will furnish it and use it myself for a few months while the weather is cold in Melbourne
Not sure how my boss will take that...Chris
I was up there at the time of the "floods" - really just a normal wet season - and couldn't believe the exaggerations published by the media - even the local paper sensationalised it. The city itself did NOT flood - the end of Lake St near the water did (as it always does) but that's all. Yorkey's Knob & Holloways Beach (both northern beaches suburbs) are always bad spots in the wet season as their access roads get cut off, so I definitely wouldn't buy there! I have properties in the northern beaches that are not performing too well, but the ones I have in the city and southern suburbs (e.g. Edmonton) are fully let so performing well. I reckon if you can get anything under $300k snap it up, but make sure it's got 4 bedrooms as my agent says it's hard to let 3 bedders. Other points to look for are; tiled floors (better in that climate)and somewhere kids can play outside but not in the rain. Don't go for one with a pool as there are all sorts of hassles associated with that, and besides there's the only waterslide park in Cairns located in Edmonton.
As the market is down I think now's a good time to buy, before the tourist season kicks in again, which not only brings the tourists in but also the extra workers to service them!
As the market is down I think now's a good time to buy, before the tourist season kicks in again, which not only brings the tourists in but also the extra workers to service them!
I have two properties, one in Whitfield and the other in Freshwater. Tenant has moved out of Freshwater and a new tenant is moving in. PM wasn't initially certain if a new tenant would quickly move in. But from the 3 people who responded to the first advertisement, one made the move.
From memory, Yorkeys despite having a golf course, yacht marina, beach etc, (not to mention the old Innisfail court house on one side of the hill), has problems with tenancy from time to time. I think, like others have suggested, it's due to the flow of itinerant travellers, and the increase in supply of new units everywhere - city, Redlynch, beach suburbs, southside etc.
Bact to original topic of Edmonton, I think the best bet is to ask some of the local property managers which properties will rent, if that's what you're looking for.
I'm moving back to Cairns at the end of the year. I think I might rent in Yorkey's for a little while.
From memory, Yorkeys despite having a golf course, yacht marina, beach etc, (not to mention the old Innisfail court house on one side of the hill), has problems with tenancy from time to time. I think, like others have suggested, it's due to the flow of itinerant travellers, and the increase in supply of new units everywhere - city, Redlynch, beach suburbs, southside etc.
Bact to original topic of Edmonton, I think the best bet is to ask some of the local property managers which properties will rent, if that's what you're looking for.
I'm moving back to Cairns at the end of the year. I think I might rent in Yorkey's for a little while.
I just got myself another IP up there, contract last night.
Vacancy rates for the nth beechs is high, as also with P/Park, Woree, and the 3 M's. Where as Whitfield, Edge Hill and Cns Nth have low vacancy rates.
As with any town or city, other suburbs are good also, some suburbs have low vacancy rates, same goes with for sale signs. Look around the 3 M's now at how many there are and the price drops there have been from the vendors.
May I suggest to try another PM, there are differences up there, as with everywhere else to.
Vacancy rates for the nth beechs is high, as also with P/Park, Woree, and the 3 M's. Where as Whitfield, Edge Hill and Cns Nth have low vacancy rates.
As with any town or city, other suburbs are good also, some suburbs have low vacancy rates, same goes with for sale signs. Look around the 3 M's now at how many there are and the price drops there have been from the vendors.
May I suggest to try another PM, there are differences up there, as with everywhere else to.
