PPOR Cairns

O

outbackjack

Sorry Moderators if this post is in the wrong spot. Wasn't sure where it goes, please move if you like.

OK now to the post.

We are in a mining town and my wife wants to move to Cairns. I would like to buy a PPOR in Cairns. We are not concerned the lack of employment or anything in Cairns as I will be FIFO to the West Coast

Our budget is 350k tops. If possible we would like 4 bedrooms, close to school and shops, as wife doesn't like to drive.

For people in Cairns, where would you suggest??
We are currently considering a few properties in Bentley Park.

Any advice would be much appreicated.
 
Hi There, what made you pick that suburb...?


Have you thought of the northern beaches?

You might want to take a look at the Cairns Post property liftout every saturday, it gives a good cross section of available properties.

Cheers
Pango.
 
I would definitely go Northern beaches for PPOR or Whitfield, with the prices so low now is an ideal time to buy in one of the best areas at a low price. Buying around Yorkeys Knob, where I have a townhouse, is ideal location for the airport for FIFO. Not far from Smithfield Shopping Centre, fantastic beach, great yacht club and a shopping strip

Look for scarcity, a house that is unique, to give you the basis for good capital gains in the future.

Chris
 
I thought there was good value in some properties south, havent looked north much.

We dont have a lot to spend and seen what I thought was good value in Bentley Park.

Just I want the impossible.

4 bedrooms and a pool. Although at the moment we might get our wish.

We lived in Darwin before, but prices in Darwin are off the radar for us.

Cairns looks a little better value for us.
 
Well seems the bank has dashed my hopes.

I applied for a loan.

I have been in same job for a year, earn good coin and have equity in property etc.

But because I have started a small business 9 or 10 months ago and currently show a 23k loss, they wont give me a loan. Even though I have over 30k in stock, turned over 150k odd, have brought tools, fitted out a shop etc etc.

The banks has told me NO


B****** Banks
 
How many banks did you try?

Might I suggest you run your situation past a decent Mortgage Broker?

Ignore any that might be messaging you asking to help - get a decent one that comes with a recommendation from someone you trust.

Cheers,
 
Simon,

I have given up on my broker, as things was always a little hard for him.

I hope no body minds me naming names, but I am going to give this guy a crack. He is in Cairns and thats where I want to buy.

Steve Meath
Loan Market

Never heard of Loan Market or Steve, but when I spoke to him, he told me he was like a bulldog and doesnt give up.

Lets hope he`s true to his word. Time will tell
 
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Cairns looks absolutely beautiful and very good value at the moment to me too.
Better value than Newcastle for what you get and how beautiful the scenery is. I know it's not the most crime-free town etc but there are definitely good areas.
I have been keeping an eye on it also and would love to live up that way for a while. Having geckos and tree snakes in your yard would be the best.
 
Hey Outbackjack,
Keep us posted on the progress with your MB in Cairns.

For what its worth, Rolf Latham is often offering his advice on this forum and comes highly recommended. You might want to give him a call if you dont have any luck.

On the Cairns market, places like Trinity beach, Holloways beach and even Kewarra beach have 4x2+pool for very attractive prices.
Caravonica is not on the beach, but only minutes away and is very well priced. It would probably be a better pick than Bently Park. Less tyre screeching and doof doofing going on and is right at the foot of the ranges.

Overall, Cairns is very very affordable if you have the work to pay your mortgage. So much property here is at or below replacement cost. When things pick up and prices correct, there will be some good returns for those that could afford to hold through this down period. There are some Govt types starting to mention the words FNQ and Regional in their rhetoric which suggests that some stimulus money might even end up getting spent in this region over the next couple of years. Unemployment is still over 10% here, which is getting very little airtime from Govt, and I expect that Banks would have this in mind when lending to someone living in this part of the world?

Good luck
Pango.
 
There are native gekkos which are shy and more coloured and there are the exotic ones which are noisy, invade your house and are a pain in the bum.

They control german cockroaches though.

Our maroons could be called the gekkos. :D
 
Any word on the street from people who have recently made deals in Cairns?

I am thinking of stopping through there on the way back to Sydney later in the year and trying to scope out a good deal maybe for a cheap unit.
 
outbackjack said:
Sorry Moderators if this post is in the wrong spot. Wasn't sure where it goes, please move if you like.

OK now to the post.

We are in a mining town and my wife wants to move to Cairns. I would like to buy a PPOR in Cairns. We are not concerned the lack of employment or anything in Cairns as I will be FIFO to the West Coast

Our budget is 350k tops. If possible we would like 4 bedrooms, close to school and shops, as wife doesn't like to drive.

For people in Cairns, where would you suggest??
We are currently considering a few properties in Bentley Park.

Any advice would be much appreicated.
Click to expand...

Hi,
I have an investment property in Cairns and lived there for a few years. I would stay away from Bentley and anywhere south or near the city. Redlynch Rise/ Redlynch Village is a great spot which is where I bought and it's lovely, with good schools, shops, transport links, walking distance to freshwater swimming holes and a short bus trip to the city or beaches. Directly west from Cairns airport, nestled in the foothills. 10 minute drive to/from airport but no air traffic noise. You can easily pick up a 1970 -1980's house near Redlynch village that ticks your boxes in the mid 300k range if you are prepared to give it a bit of a facelift. Avoid Redlynch Valley which can be a bit far out if you don't drive.
Go North!!!:)
 
Well after waiting a few weeks with MB,I have been declined :mad:

I have a small business and cashflow has been a issue as we have been trading for only several months. Although I work elsewhere and earn a good quid from another full time job.

I have been late with mortgages over the last few months, normally only a few days and mostly to me not transferring funds to the direct debit account fast enough.

There has been money in other accounts to cover the mortgage when due.

Although I can understand, I have been with the same lender for 4 years, always been on time to just recently and as mentioned they can see I have the funds.
Also the LMI group have their share of money over the last 4 years(more than 20K). Never defaulted and they never had to pay out.
 
Bugger, that’s a big rental list. Lucky I am not looking at Cairns as an investment.

Not sure if the market will drop more. I think it has bottomed out. But this is my unqualified opinion.


Cheers
 
Sunfish, I am sure your self and others will know better than me.

I hope your right, that will mean I will get more for my buck in 6 mths or so.
 
I was in Cairns this week for a quick break. Every real estate agent we walked past had huge signs advertising 'cut price' property. Cost of living was pretty high too I thought.
 
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