Bal­anced mar­ket to re­main

The Weekend Post - Real Estate - - Front Page -

AS WE wel­come in 2016, I have been reg­u­larly asked about what the prop­erty and land de­vel­op­ment mar­ket will do this year. I cer­tainly don’t have a bet­ter crys­tal ball than any­one else, but I do get to see more facts and fig­ures than most. It has been well re­ported that Cairns is do­ing pretty well. We have had a very good tourist sea­son and look to be back­ing that up with growth in our pas­sen­ger num­bers through the air­port. We have had a pretty good cane sea­son and retail has just been hold­ing its own. No ques­tion we would like more jobs and more sig­nif­i­cant projects. It is on record that we have been over­looked in favour of other re­gions by our politi­cians and we need them to de­liver in­fra­struc­ture projects that will help cre­ate con­fi­dence. Prop­er­ties for sale has gen­er­ally de­creased a lit­tle from pre­vi­ous years’ highs, new land is be­ing de­vel­oped. Cairns ap­pears to be in a pretty bal­anced mar­ket – not a sellers’ nor buy­ers’ mar­ket; and no real risk of a boom or bub­ble on the hori­zon. Our build­ing ap­provals are im­prov­ing. My view is that 2016 will build on the gen­tle im­prove­ments we saw in 2015, and that with low, sta­ble in­ter­est rates and lots of op­tions, it’s a good time to be buy­ing, build­ing or sell­ing real es­tate. Adam Gowlett gen­eral man­ager, David McCoy Homes THE com­mer­cial hub of Port­smith, idyl­lic Ke­warra Beach and busy Cairns City have topped the list for the most ex­pen­sive places to buy a unit in Cairns.

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