Optimism reigns for year anew
AS we welcome the start of the new fiscal year, many property owners may be wondering, “What changes may occur in the Cairns marketplace during the next 12 months?” A rise in the median price value of approximately 5 per cent was forecast for the Cairns marketplace for the calendar year of 2015. From current marketplace evidence, I believe we can be of the opinion that we are “on track”. A “shot of confidence” into this region – the commencement of one of the many mooted projects currently planned for our community – will reap enormous benefits. The recent fall in the value of the Australian dollar will have a flow-on affect for Cairns on two fronts: a) Australia (Cairns) becomes more of an affordable and therefore attractive destination for overseas tourists; b) We, as tourists, have less buying power for international destinations and therefore may holiday “at home” this and next year. So with expected increases in tourism numbers and better room rates, we should see this flow on into the community resulting in increased employment and spending. The fiscal year ahead will no doubt be exciting indeed.