New year busy in property
THE arrival of a new year can be a busy period in real estate as people move in and out for work or study. Rental vacancies rise over the period, as a result of this transition and the end of many 12-month leases. Typically, however, vacancy rates return to normal levels in the first weeks of January. Many intending to sell will be using the Christmas and New Year period to make final touches to their properties. Sales volumes have been strong in Cairns of late. According to LJ Hooker’s Open Market report, the city’s median property price rose 6.7 per cent over the previous 12 months to $408,500. Further underlining the confidence in the city, Cairns properties took on average 37 days to sell over 2015 – comparable with the 35 days it’s taking to sell properties in the heated inner-Brisbane market. But buyers have discerning eyes and notice all defects or features that are outdated. Do peeling cornices need attention? Does the kitchen cabinetry look shabby? And are tiles missing in the kitchen or the vanity need sealing? Styling your property is also very important. A coat of paint, decluttering the house and weeding the garden can do a lot to attract a premium buyer.