Market Report
Cairns Market Report
At present in the Cairns market the volume of sales has slowed, but there is no oversupply of property. Generally, the local "property-for-sale" papers contain the same amount of pages now as they did this time last year. These papers currently contain several pages dedicated to property developers offering deals to first time home buyers on existing/near finished stock. It is said, at the current rate of sales, this stock will dry up in around six months time.
The Cairns economy is strong and the amount of people moving this way is still on the increase. However, the amount of land being released has slowed over the past year and the cost of building houses has risen. This is due to an increase in government infrastructure costs, increases in building materials and the cost of compliance with new energy efficiency and water efficiency standards.
This means that once the current stock of new property has been sold, developers will not have the capacity to build property and sell it at the prices we are now seeing.
When this happens the existing stock of property on the market will not have to compete with the deals the developers are currently offering and their prices will start to go back up to fair market value and beyond.
With the lower Aussie Dollar, now is a good time for Australians living overseas to buy property here; as the exchange rate, coupled with the present climate, is presenting many good deals.
Caution still needs to be the key word, especially when it comes to investment property. Although the vacancy rate is generally low across Cairns, certain suburbs do have an oversupply of property.
In a nut shell, if you are looking to buy property in and around Cairns now is the time to act, because the current overview of property prices is pointing in one direction: up!
Author: Gary Burke, Cairns and Co, 08/11/08
|
Being true buyer's agents Cairns and Co do not have property listings, nor do we have any association with property developers or sales agents. But once in a while a Hot Property does present itself and we feel it is our duty to highlight it. So, listed below are some recent Hot Properties we have uncovered.
If you would like more information on these Hot Properties, under Queensland regulations governing our industry, you would need to become a client of ours by appointing us as your agent, there is no charge or catch; it is just a legal requirement to protect all parities – you and us.
It is easy to become a client, just click on the link below and complete the Personal Request Form telling us what type of property you are looking to buy. Once you have forwarded this form to us, we will then send you, by email, an Appointment of Agent Form (PAMD Form 22a) for you to print, complete and return to us by email or post. We can then source property for you that will meet with your needs. All information you provide is held in strict confidence.
As our client we will not charge any up-front fees for our service, nor will we impose any time limits, and our service to you is guaranteed - if we cannot introduce you to a property that you want to buy, there is no charge.
Details on our fees and services can be found on our Home Buyers or Investors page
Become a Cairns and Co Client
Hot Property |
| First Home Buyers |
|
Currently, there are many homes for sale around the $300,000 mark in various configurations of 3 to 4 bedrooms, 1 to 2 bathrooms located in and around Cairns. With the first time home buyer's grant and the fact that Queensland does not charge any stamp duty to first time home buyer's on property up to the value of $500,000, Cairns should be high on your list of possible places to set up home. Become one of our clients by filling in a Personal Request Form - to let us know what you require - and we can start to find you your perfect home. You have nothing to loose. If we cannot find you a property you want to buy, then there is no fee! |
| |
| Unit, 2 Bedrooms 1 Bathroom, Asking Price $229,000, Ref: 11293036-1 |
|
Property Description: A modern large complex with lifts and a beautiful pool.
City: 1 km
Airport: 3 km
Shops: less than 1 km
Schools: 7 within 2 km
First Home Buyer (who qualify for the grant):
Stamp Duty: $2,290
First Home Owners Grant: $14,000
Rates: $1,800
Body Corp: $3,220 (including 20% discount offered to early payments)
Estimated Purchase Price: $223,290
Owner Occupier:
Stamp Duty: $2,290
Rates: $1,800
Body Corp: $3,220 (including 20% discount offered to early payments)
Estimated Purchase Price: $237,290
Investor:
Stamp Duty: $6,542.50
Rates: $1,800
Body Corp: $3,220 (including 20% discount offered to early payments)
Tenanted: Yes until February 2009
Rental: $300 p/w
Gross Rental Yield: 6.5%
Net Rental Yield: 3.8%
Estimated Purchase Price: $241,542.50
Our Calculations are approximate and based upon the asking price using the following formulas:
Purchase Price = Asking Price, plus Agency Fee, plus Stamp Duty, plus Conveyancing Fee of $1,000 (minus First Home Buyers Grant, where applicable)
Gross Rental Yield = Annual Rent divided by Purchase Price
Net Rental Yield = (Annual Rent, minus 8.5% Management Fee, minus Body Corporate levies, minus Rates) divided by Purchase Price
Please Note:
The details above are presented as a general indication only. Figures and distances are approximate. Stamp Duty must be verified by a qualified accountant/conveyancer. The Conveyancing fee used is for example only
|
| |
| Unit, 2 Bedrooms 1 Bathroom, Asking Price $175,000, Ref: 11293017 |
|
Property Description: Older style complex with swimming pool, in popular rental area with good tenant in place who would like to stay on. This unit has front and rear access and is fully air conditioned.
City: 4km
Airport: 4km
Shops: 1 km
Schools: 2 within 2 km
First Home Buyer (who qualify for the grant):
Stamp Duty: $1,750
First Home Owners Grant: $14,000
Rates: $1,800
Body Corp: $2,516
Estimated Purchase Price: $168,750
Owner Occupier:
Stamp Duty: $1,750
Rates: $1,800
Body Corp: $2,516
Estimated Purchase Price: $182,750
Investor:
Stamp Duty: $4,787.50
Rates: $1,800
Body Corp: $2,516
Tenanted: yes until January 2009
Rental: $210 p/w
Gross Rental Yield: 5.9%
Net Rental Yield: 3.1%
Estimated Purchase Price: $185,287.50
Our Calculations are approximate and based upon the asking price using the following formulas:
Purchase Price = Asking Price, plus Agency Fee, plus Stamp Duty, plus Conveyancing Fee of $1,000 (minus First Home Buyers Grant, where applicable)
Gross Rental Yield = Annual Rent divided by Purchase Price
Net Rental Yield = (Annual Rent, minus 8.5% Management Fee, minus Body Corporate levies, minus Rates) divided by Purchase Price
Please Note:
The details above are presented as a general indication only. Figures and distances are approximate. Stamp Duty must be verified by a qualified accountant/conveyancer. The Conveyancing fee used is for example only
|
| |
| Unit, 2 Bedrooms 1 Bathroom, Asking Price $165,000, Ref: 11293036-2 |
|
Property Description: Older style complex with a small swimming pool, in a sought after rentals area. The complex has just had a new roof fitted. Unit is basic and needs some work to tidy it up. The Committee is looking to lower body corp levies at next AGM.
City: 4 km
Airport: 4 km
Shops: less than 1 km
Schools: 7 within 2 km
First Home Buyer (who qualify for the grant):
Stamp Duty: $1,650
First Home Owners Grant: $14,000
Rates: $1,670
Body Corp: $2,384 (including 20% discount for early payment)
Estimated Purchase Price: $158,650
Owner Occupier:
Stamp Duty: $1,650
Rates: $1,670
Body Corp: $2,384 (including 20% discount for early payment)
Estimated Purchase Price: $172,650
Investor:
Stamp Duty: $4,462.50
Rates: $1,670
Body Corp: $2,384 (including 20% discount for early payment)
Tenanted: No
Rental: $200 p/w (estimate depending on work performed)
Gross Rental Yield: 5.9%
Net Rental Yield: 3.1% ($5,462)
Estimated Purchase Price: $175,462.50
Our Calculations are approximate and based upon the asking price using the following formulas:
Purchase Price = Asking Price, plus Agency Fee, plus Stamp Duty, plus Conveyancing Fee of $1,000 (minus First Home Buyers Grant, where applicable)
Gross Rental Yield = Annual Rent divided by Purchase Price
Net Rental Yield = (Annual Rent, minus 8.5% Management Fee, minus Body Corporate levies, minus Rates) divided by Purchase Price
Please Note:
The details above are presented as a general indication only. Figures and distances are approximate. Stamp Duty must be verified by a qualified accountant/conveyancer. The Conveyancing fee used is for example only
|
| |
| House, 4 Bedrooms 2 Bathrooms, Asking Price $650,000, Ref: REL4 |
|
Property Description: This property does not fit into the category for the First Home Buyers grant. The property is over 7,000 M2; it's private, has views out to the Coral Sea and has great potential. It has a 4 bedrooms, 2 bathrooms, single storey home that could easily be extended out under the existing roof or have another storey added. There is a pool, a shed, a three bay insulated garage with 3-phase power and ceiling fans, and a double fenced paddock which covers about half the property. This property is located in a Northern suburb of Cairns. Useable land this size, in this area, with views of the sea, is hard to find. This property has good capital growth prospects.
City: 25 km
Airport: 23 km
Shops: less than 1 km
Schools: 4 within 2 km
First Home Buyer (who qualify for the grant):
Stamp Duty:
First Home Owners Grant:
Rates:
Body Corp:
Estimated Purchase Price:
Owner Occupier:
Stamp Duty: $ $15,125
Rates: $1,800
Body Corp: $ N/A
Estimated Purchase Price: $671,125
Investor:
Stamp Duty: $21,975
Rates: $1,800
Body Corp: $ N/A
Tenanted: No
Rental: $650 (estimate)
Gross Rental Yield: 4.9%
Net Rental Yield: 4.2% ($29,127)
Estimated Purchase Price: $677,975
Our Calculations are approximate and based upon the asking price using the following formulas:
Purchase Price = Asking Price, plus Agency Fee, plus Stamp Duty, plus Conveyancing Fee of $1,000 (minus First Home Buyers Grant, where applicable)
Gross Rental Yield = Annual Rent divided by Purchase Price
|
| |
| House, 3 Bedrooms 1 Bathroom, Asking Price $399,000, Ref: 11293012 |
|
Property Description: This house is situated on a 1044 m2 block and is priced at around land cost only. It would suit renovation or total redevelopment. With a few small touches and some air conditioning it would make a good rental property returning a weekly rent of around $360 to $400, depending on upgrade. The area is quite and the land backs onto rainforest, which is zoned as Parks and Gardens, and is close to the beach.
City: 25 km
Airport: 23 km
Shops: 1 km
Schools: 4 within 2 km
First Home Buyer (who qualify for the grant):
Stamp Duty: $5,956
First Home Owners Grant: $14,000
Rates: $1,800
Body Corp: $ N/A
Estimated Purchase Price: $396,965
Owner Occupier:
Stamp Duty: $5,656
Rates: $1,800
Body Corp: $ N/A
Estimated Purchase Price: $410,965
Investor:
Stamp Duty: $12,440
Rates: $1,800
Body Corp: $ N/A
Tenanted: No
Rental: $370 p/w (taken from previous rental)
Gross Rental Yield: 4.6%
Net Rental Yield: 2.3%
Estimated Purchase Price: $417,440
Our Calculations are approximate and based upon the asking price using the following formulas:
Purchase Price = Asking Price, plus Agency Fee, plus Stamp Duty, plus Conveyancing Fee of $1,000 (minus First Home Buyers Grant, where applicable)
Gross Rental Yield = Annual Rent divided by Purchase Price
Net Rental Yield = (Annual Rent, minus 8.5% Management Fee, minus Body Corporate levies, minus Rates) divided by Purchase Price
Please Note:
The details above are presented as a general indication only. Figures and distances are approximate. Stamp Duty must be verified by a qualified accountant/conveyancer. The Conveyancing fee used is for example only |
| |
| House, 3 Bedrooms 1 Bathroom, Asking Price $329,000, Ref: 12060707 |
|
Property Description: This 4 year old, compact house is situated in a good neighbourhood on a small block with easy-care gardens - ideal for renting or as a lock-and-leave. There is air conditioning in the lounge area and master bedroom. It has a nice kitchen with good appliances.
City: 22 km
Airport: 20 km
Shops: Less than 1 km
Schools: 4 within 2 km
First Home Buyer (who qualify for the grant):
Stamp Duty: $3,515
First Home Owners Grant: $14,000
Rates: $1,800
Body Corp: $ N/A
Estimated Purchase Price: $324,515
Owner Occupier:
Stamp Duty: $3,515
Rates: $1,800
Body Corp: $ N/A
Estimated Purchase Price: $338,515
Investor:
Stamp Duty: $9,990
Rates: $1,800
Body Corp: $ N/A
Tenanted: No
Rental: $340 p/w
Gross Rental Yield: 5.1%
Net Rental Yield: 4.1%
Estimated Purchase Price: $344,990
Our Calculations are approximate and based upon the asking price using the following formulas:
Purchase Price = Asking Price, plus Agency Fee, plus Stamp Duty, plus Conveyancing Fee of $1,000 (minus First Home Buyers Grant, where applicable)
Gross Rental Yield = Annual Rent divided by Purchase Price
Net Rental Yield = (Annual Rent, minus 8.5% Management Fee, minus Body Corporate levies, minus Rates) divided by Purchase Price
Please Note:
The details above are presented as a general indication only. Figures and distances are approximate. Stamp Duty must be verified by a qualified accountant/conveyancer. The Conveyancing fee used is for example only
|
| |
| House, 4 Bedrooms 2 Bathrooms, Asking Price $392,000, Ref: 12060709 |
|
Property Description: (This property is currently rented until Dec 2009, so it is only suitable for Investment). This is a new house in quite area close to shops and schools. Fully fenced grassed yard; patio; drive-through double lock up garage; plenty of cupboard space in house; air conditioned.
City: 15 km
Airport: 13 km
Shops: less than 1 km
Schools: 5 within 2 km
First Home Buyers (who qualify for the grant):
Stamp Duty:
First Home Owners Grant:
Rates:
Body Corp:
Estimated Purchase Price:
Owner Occupier:
Stamp Duty:
Rates:
Body Corp:
Estimated Purchase Price:
Investor:
Stamp Duty: $12,195
Rates: $1,800
Body Corp: $ N/A
Tenanted: Yes – until December 2009
Rental: $380 p/w
Gross Rental Yield: 4.8%
Net Rental Yield: 3.9% (Approximately $16,280)
Estimated Purchase Price: $410,195
Our Calculations are approximate and based upon the asking price using the following formulas:
Purchase Price = Asking Price, plus Agency Fee, plus Stamp Duty, plus Conveyancing Fee of $1,000
Gross Rental Yield = Annual Rent divided by Purchase Price
Net Rental Yield = (Annual Rent, minus 8.5% Management Fee, minus Body Corporate levies, minus Rates) divided by Purchase Price
Please Note:
The details above are presented as a general indication only. Figures and distances are approximate. Stamp Duty must be verified by a qualified accountant/conveyancer. The Conveyancing fee used is for example only
|
| |
 |
|
This page will be updated on a regular basis,
so save it on your Favourites list and come back again soon!
|
|
|
|
