Hi
I’m currently wanting to buy my first investment property and have been looking into Cairns abit.
Just wondering if anyone can share their recent experiences in the market. Is there still significant potenial for capital gain there and what would be the best areas? Any to avoid?
As i’m not a local, does anyone know of any planned developments projects or new industries heading there that may affect things? Or where could i research that?
Is it better to buy in Cairnes itself or head a little north to the beaches, eg Trinity,Clifton beach?Thanks, i’d appreciate any advice
Hi JOKOB
welcome to the forum, i encourage you to also do a “search” through past forum posts as i recall this being discussed recently. You may find something of value to you there.
regards westan
I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
Hi,
to get an idea of Cairns check out the local council web site. This will give you an idea of the direction in which this city is heading. There are a heap of developments (apartments) being built or on the drawing board. If you speak to the town planner, he/she will be able to give you an idea of the planning and development applications being processed now. I think the Northern Beaches is a good idea, although there has been substantial growth over the last 18 months. Where the market is heading is a little bit difficult to predict. Purchase the local paper — if you live interstate you can subscribe for $6.00 per issue — all you really need is Saturday’s paper.There seems to be an emerging view on this forum that property prices are starting to trend down and that opportunities are starting to open up. [biggrin] In terms of Cairns, I suggest you watch the paper and major real estate web sites to get a feel for the market in terms of price direction.
The Midwood report is (in my view) a useful publication giving a good overview of the Queensland market. Perhaps it might be worthwhile to invest $220 (I think this is the current price) and purchase a subscription (4 issues).
Recently I saw an article by the REIQ (prepared by their media department) extolling the virtues of investing in Cairns. Although the source is biased, it does provide some data to inform any purchase decision.[blink]
Hope this helps.[cap]
Regards,
HelenOriginally posted by JOKOB:Hi
I’m currently wanting to buy my first investment property and have been looking into Cairns abit.
Just wondering if anyone can share their recent experiences in the market. Is there still significant potenial for capital gain there and what would be the best areas? Any to avoid?
As i’m not a local, does anyone know of any planned developments projects or new industries heading there that may affect things? Or where could i research that?
Is it better to buy in Cairnes itself or head a little north to the beaches, eg Trinity,Clifton beach?Thanks, i’d appreciate any advice
My daughter built a new house on elevated land in upmarket Forest Gardens 10mins to Cairns CBD (its a Delfin Lend Lease Project), finished 5 months ago cost all up turnkey $275,000 just had it valued for equity purposes at $345,000.If rented out expect return of some 6%, Cairns has a very low vacancy rate of about 2%.
Its cheaper to buy land and build if you want new (rather than buy a spec home). You should be able to buy land and build house for $250K, think the depreciation is better for new homes too.
Look here http://www.cairnshomes.info
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