RPIS Group in Chatswood

From: Alan Hill

A friend of mine has had the above Group trying to sell him a new furnished apartment OTP in Cairns. It's his first adventure into IP land.

He just gave me the package and I'll have a good look through it and direct him to as many other sources of information as possible before/if he signs.

However, I'd be interested in getting current feedback on this Group and Apartments in Cairns generally.

And yes, I'll also do a search of the Archives :)

Thanks as usual guys. Much appreciated.

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Reply: 1
From: Michael Yardney

have a look at this week's issue of BRW and the article on Queensland property.
It makes interesting reading
Michael Yardney
Metropole Properties
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Reply: 1.1.1
From: Alan Hill

A little bit of extra research for my friend's Cairns investigation.....

Last night I jumped across to the AHL Website and grabbed a copy of their Residex Summary for Units in Postcode 4870(Cairns).

The results for the Middle 50%(Median Prices) were:

1997 $115,000
1998 $86,500
1999 $82,000
2000 $83,000
2001 $79,000

Cripes! I thought I'd read it upside down for a minute.

Another source, for Units in the same Postcode(I think it was Domain), showed a 22% drop in the last 12 months!

Obviously other research needs to be done and specifics of the individual property need to be looked at, but not the rosiest looking trend from initial findings.

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