Agents dispute bleak city report

ces. “When you look at the city overall there isn’t much residential accommodation available.”

Ms Anderson said one city apartment received 263 hits on realestate.com.au in 12 hours.

LJ Hooker Edge Hill principal Ross Moller said Cairns was starting to emerge from the doldrums.

“We have had nothing built for 10 years.

“We need some new product which will drive prices up. Someone has to have the money and the optimism to do that,” he said.

“I think it is starting to improve. The new hotels are helping and there is a lot of road works about to start which should drive employment and therefore property sales.

“We need new stock to drive up the price of the old stock. The return on investment right now is very good. There are plenty of units for sale.

“The other thing that is starting is the number of mortgagee appraisals is increasing. There could be more coming on the market. Our sales have been fantastic the last 30 days. It is the time of the year when that happens.”