Now’s the right time for sell­ing

The Weekend Post - Real Estate - - Front Page -

THE Cairns prop­erty mar­ket is go­ing through a very in­ter­est­ing stage at the mo­ment. With the fed­eral elec­tion over and with in­ter­est rates at an all time low, Cairns is look­ing very at­trac­tive again. Fur­ther­more, we are see­ing more and more Asian buy­ers en­ter­ing the mar­ket hop­ing of buy­ing safe and “cheap” hous­ing. How­ever, with buy­ers still de­mand­ing value, the choice of avail­able prop­er­ties has dropped. Agents say the num­ber of houses for sale is ac­tu­ally 25 per cent be­low the lev­els that were avail­able in July last year. What could cause this? One the­ory thrown around was that we are sell­ing more than we are list­ing at the mo­ment. An­other the­ory was that a lot of peo­ple are wait­ing for next year to place their house on the mar­ket. If this is your sit­u­a­tion, we would be quick to of­fer the fol­low­ing ad­vice – do it now. The con­cern with this the­ory is that the Cairns mar­ket will get swamped with new houses for sale later in the year. Al­though this cre­ates a wind­fall for the buyer, this has se­ri­ous con­se­quences for the sell­ers. Not only will it be tougher to com­pete against more houses for sale but ex­cess sup­ply with­out added de­mand will again put pres­sure on prices. The ad­di­tional prob­lem is that the days it takes to sell a prop­erty will also blow out. Tony Wil­liamson, Bro­ker/ owner RE/MAX Cairns

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