Cairns Property View – May 2020

While Australia (and the rest of the world for that matter) continues to shake off the financial, health and social effects that the covid-19 pandemic has bestowed upon us, I have found the property market has not been as hard hit as I’d imagined.

I have had one contract fall over because the Banks refused finance based on the pandemic, yet I was able to get that same property under contract within a week later anyway. Whilst there are less buyers around, they are the more serious ones, and usually buying with cash.

Preparation works are already under way as next month’s construction start date draws near for the $176 million Cairns Convention Centre expansion project. There is a lot riding on the schedule staying on track – both to prop up the construction industry and to allow business tourism to bounce back after corona virus travel bans have been lifted.

There is light at the end of the tunnel for the pandemic upset as we’re starting to see some social bans being lifted plus more on the way. The effects will take a while to get over, like 1 million Australians being laid off since the restrictions late March, lets be patient and plan for normality in the next few months.

Daniel Sheehan – selling real estate properly for you.
0409 265 326