First-home buyers jump in
First-home buyers have jumped on a competitively priced house and land package deal at a new development.
The Greens at City’s Edge at White Rock was launched last September with house and land packages from $399,000 on the 22-lot development at 52 Progress Rd
The median price of a house in White Rock is $428,500, a 14.3 per cent rise over 12 months with 76 homes sold.
By comparison, the median house price for Cairns is $560,000 – a 4.4 per cent dip over the most recent quarter, according to PropTrack data.
Indicative gross rental yield is 5.82 per cent and the median asking rent is $480 at White Rock.
There are blocks ranging from 524sq m to 670sq m still for sale.
New Level Real Estate agent Udo Jattke said he sold four lots last week.
“We’ve got about eight left, and building has started there, which is really cool,” he said.
“It is purpose-designed for first-home owners, a very affordable entry-level subdivision with two, three and four bedroom house and land packages,” Mr Jattke said.
Mr Jattke said those seeking to downsize and be close to the city were among the purchasers.
He said the aim was to build affordable two bedroom homes instead of units, and the blocks were freehold.
The developers, Bohemia Investments, whose directors are listed as Cairns residents Ilona and Vaclav Vosoba, have just applied for an operational works permit for a second
White Rock development.
They applied last March to build units and commercial tenancies on a 1.833ha block at the corner of Skull Rd and Kowinka St.
It replaced a previous proposal to build 36 identical units.
Cairns Regional Council approved the development in February.
It will be a mixed-use development including seven twobedroom units, one threebedroom unit and three commercial tenancies, with one pitched as a healthcare service provider.