Certainty prompts buyers
Real estate sales up after federal election
BUYERS and sellers have been active in Cairns since May’s federal election result fuelled an increase of offers and settlements in the real estate market.
LJ Hooker Cairns principal Ross Moller said buyers who were uncertain last year with an election looming were more active this year – especially in Edge Hill and Whitfield.
“We have an offer on something every day … whether it’s put to bed or not is another issue,” Mr Moller said.
“But the salespeople negotiating every day.”
CoreLogic data showed 50 houses were sold in Edge Hill in the past year to June and 63 in Whitfield.
Both suburbs proved profitable with the median sales price of the 50 Edge Hill homes $480,000 and $547,000 for the 63 in Whitfield. Both are considerably higher than the overall Cairns median sales price which was $415,000.
Of the combined 113 houses sold in these two suburbs over the past year, 22 went through are LJ Hooker between January and June this year.
“There were three houses in Whitfield that sold for more than $1 million,” Mr Moller said. “The most expensive was $1.225 million – a four-bedroom, four-bathroom home on a 2814sq m block.”
Meanwhile, the least expensive property sold by LJ Hooker in this inner-city area was a three-bedroom home for $390,000.
“It’s on a good 777sq m block of land with open-plan living and close the Edge Hill State School,” Mr Moller said.
“About 70 per cent of the sales in Edge Hill are owneroccupier. It’s very popular for families and professionals.”