The Cairns Post


- Matthew Newton Reporter

WHILE down south cashed-up house flippers are making $2 million from the sale of property 11 months after buying it, up north the real estate is moving at a more realistic pace.

Here the market is still dealing with an influx of cashed-up buyers from southern states and a relative lack of supply, which means it's a good time for homeowners who want to make a dollar.

Less so if you’re only just saving up a deposit for your first home.

So it’s encouragin­g to read that there are in fact bargains to be had in the Far North property market.

A quick scan of 40 of the region’s cheapest house or land deals in today’s paper reveals those wanting to dip their toe in the waters of the property market have a number of options in the sub-$100,000 price bracket if they want to score themselves their own unit.

The other key factor driving up housing prices across the country is of course interest rates.

Just the other week we heard the average house price across Australia rose 20 per cent in the past year.

That’s partly as a result of Australia’s record low interest rates, encouragin­g people to borrow and park their money in the booming property market as opposed to earning a paltry amount of interest in their bank accounts.

But for those who are only starting out in the property game, it’s important to remember that it’s not about where you begin but where you finish.

News of multimilli­on-dollar sales and hundreds of thousands made from short-term investment­s might sound completely out of reach right now. But those property owners all would have started somewhere.

Investing wisely now could be a great way to set yourself up for the future.

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