Up­mar­ket prop­erty ac­tiv­ity bucks up

The Weekend Post - Real Estate - - Front Page -

AC­TIV­ITY in the mil­lion dol­lar mar­ket is slowly be­gin­ning again af­ter what has been an ex­tended GFC-hang­over. Since Easter, LJ Hooker Cairns Edge Hill has sold three prop­er­ties in this up­per-end mar­ket as both ven­dors and sellers recog­nise the mar­ket is meet­ing to of­fer op­por­tu­ni­ties for both sec­tors. A Bayview Heights prop­erty re­cently changed hands for in ex­cess of $1 mil­lion, while a cou­ple from Western Aus­tralia pur­chased a Red­lynch home in the high $900,000s. An­other on the north­ern beaches sold for a sim­i­lar price. Ac­tiv­ity in the up­per-end of the mar­ket is tra­di­tion­ally slower than the en­try and mid­dle lev­els, so this run of qual­ity sales could be the start of an emerg­ing trend. Else­where, the healthy tourism mar­ket is play­ing a ma­jor role in lur­ing owner-oc­cu­piers and in­vestors to Cairns. Con­fi­dence is cen­tral to life­style mar­kets such as ours. With the re­cent news that Aquis is mov­ing closer to break­ing ground, we’re go­ing to see much more in­vest­ment in Cairns as rental prop­er­ties are taken up by trades­peo­ple and con­struc­tion teams. SELLERS are los­ing out on top dol­lars if their house lacks “street ap­peal”, re­search shows.

A re­port com­piled by com­par­i­son web­site finder.com.au has re­vealed sellers could risk los­ing up to 25 per cent on their ask­ing price be­cause po­ten­tial

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