YIKES! Keep an eye on CAIRNS!!

Sounds very interesting! Being new to property I was curious as to the short term affects this would have on housing in Cairns if given the green light?

Do investors tend to purchase property immediately or do you believe you would only begin to see prices change closer to completion in 2018?
 
Hi Norwoodman

In response to your question about the Cairns unemployment rate, I would refer you to my previous response a few pages back on this thread.

Jen

The Cairns Watch report published by Herron Todd White does suggest that the Cairns Region unemployment is up. This data is based on a huge region that takes in Port Douglas, the Tablelands and the Cassowary Coast, as illustrated here.
View attachment 11895

If you have a look at some of the unemployment data I have attached/linked, which has been cut in different ways, you can see a few things going on.

1. According to this graph, the trend in unemployment for the Cairns Regional Council is actually steadily decreasing. Compare this with the Australia wide unemployment rate, which is increasing.
2. The Small Area Labour Markets publication gives a more fine-grained picture of what is going on in this large region, with Cairns (C) unemployment rates down across the board.

If you are interested in playing with the data cut in different ways, this is a brilliant website. http://statistics.oesr.qld.gov.au/qld-regional-profiles
I generated a number of reports from this site which I have attached below.
There is a clear difference between the Cairns North and Cairns South statistical areas in terms of unemployment, with Cairns North coming in pretty close to the State average. When you dig a little deeper, you can see the concentrated pockets of unemployment within these regions. This website is also great for looking at this: http://atlas.id.com.au/cairns.

Jen
 
Interesting to read your comments Chrispy about Yorkeys Knob. It just confirms that one of the strategies of investing is buy and hold!! I know people who bought in YK about 5 years ago, and then sold out about two years ago in disgust at the market. Shame - if they had held on they could have realized a nice tidy profit.
How long have you had your property there?
Cheers,
Fay
 
Cairns AQUIS development EIS released

The Environmental Impact Statement for the proposed AQUIS development has just been released. Should make for interesting reading for those of you following it!

http://www.dsdip.qld.gov.au/assessm...resort-at-the-great-barrier-reef-project.html

A couple of related articles in today's Cairns Post:

http://www.cairnspost.com.au/busine...nd-over-15-years/story-fnjpusdv-1226961904340

http://www.cairnspost.com.au/busine...p-sports-stadium/story-fnjpusdv-1226961896466


Cheers

Jen
 
The Environmental Impact Statement for the proposed AQUIS development has just been released. Should make for interesting reading for those of you following it!

http://www.dsdip.qld.gov.au/assessm...resort-at-the-great-barrier-reef-project.html

A couple of related articles in today's Cairns Post:

http://www.cairnspost.com.au/busine...nd-over-15-years/story-fnjpusdv-1226961904340

http://www.cairnspost.com.au/busine...p-sports-stadium/story-fnjpusdv-1226961896466


Cheers

Jen

If I read that article correctly then the staff accomm is not going to be built and accomm will be sourced from within the cairns area. With a vacancy rate around 1% and thousands of staff requiring accomm rents are going to go into the stratosphere!
 
If I read that article correctly then the staff accomm is not going to be built and accomm will be sourced from within the cairns area. With a vacancy rate around 1% and thousands of staff requiring accomm rents are going to go into the stratosphere!

Looking at the EIS gives a good picture of the magnitude of what's in store if it goes ahead. Have a look at the transport and infrastructure implications.
 
$8.15 billion AQUIS development proposal

Articles are appearing in the Cairns Post on an almost daily basis now. It's one massive countdown to decision day, which is expected in the next couple of months, and the people of Cairns are holding their breaths. If you want to follow it's progress more closely, the Aquis facebook page gives updates on behalf of the developers.

This article is in relation to infrastructure implications:

http://www.cairnspost.com.au/news/c...regional-council/story-fnjpusyw-1226978369395

Cheers

Jen
 
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