Cairns Market Data
>>
Cairns
is located on Queensland’s far north coast and has long been regarded as the
'gateway' to the world heritage listed Great Barrier Reef and the Daintree
Rainforest.
Market Update – December quarter 2008*
|
Cairns |
Dec quarter median |
% change
Sep 08 – Dec 08 |
% change
Dec 07 – Dec 08
|
|
House Price |
$354,200 |
-5.6 |
-4.9 |
|
House Rent (3 b/r) |
$320 pw |
0.0 |
+6.7 |
|
Unit Price |
$245,000 |
+2.1 |
-2.9 |
|
Unit Rent (2 b/r) |
$255 pw |
-1.9 |
+6.3 |
|
Vacancy rate |
n/a |
n/a |
n/a |
*
This is the
most up to date available - property data is released 3 months after the end
of each quarter.
Source: Real Estate Institute of Australia
and REIQ.
Comment:
The rate of growth has slowed over the past year after a number of years of
consistently good annual increases in value. Rents have kept pace with price
growth which is
keeping yields at more than acceptable levels, particularly for medium density
dwellings.
We
continue to view Cairns positively from an investment standpoint given local
fundamentals; however it is no longer the bargain basement of a couple of
years ago.
Detailed
Market Information:
For more detailed property market information
click here,
or contact Quartile toll free on (02) 9499 4999.
Adelaide
| Brisbane | Canberra
| Cairns
| Gold Coast | Melbourne
| Perth | Sydney
