Looking Back – Looking Forward
Confidence in the Cairns region has been growing over the past 12 months. There has been a change of government, significant investments by corporations in various sectors, which include Gerry Harvey’s purchase of the Hypermarket, Lawrence Lancini building the Homemakers Centre, Bunnings who have purchased the site across the road and who are planning to build a larger Bunnings Centre. In addition there was the Chinese purchase of Acacia Court Hotel and Novotel Palm Cove Resort purchase by Overseas Investors.
There has been mostly a positive outlook for the proposed 4.2 billion Aquis Casino development, and whilst nothing has been finalised it appears to be moving in a positive direction and should the development go ahead it will provide the much needed boost to our hospitality and tourism industry. Investors are coming back into the market despite the increased body corporate levies as Cairns prices still represent good value compared to other locations in Australia. With fewer properties coming onto the market buyers are realising the market is turning. Buyer enquiries and numbers visiting open homes have shown a significant increase which we expect will continue to flow into the New Year.
We expect that 2014 will see the start of significant growth for the whole region. The property market will continue on its recovery and properties will be in short supply which will see residential developments appear.
If you are considering selling and would like a complimentary market appraisal on your property or alternatively if you would like me to prepare and email you a market report for your suburb please contact me.Posted by