Cairns property news – October 2020
Property news for Cairns real estate market.
- The Cairns property market has held it’s ground over the past few months according to the latest REIQ report. With median house prices up slightly from the same period last year. Sales volumes are down 53% from the previous quarter causing strong buyer demand.
- The lack of tourists in our area have affected units as prices have softened in the past few months, they are also taking longer to sell in this climate.
- Cairns investors are currently enjoying healthy rental yields – houses average 5.1% and units at 7.5%. Vacancy rates are lower than the last quarter now sitting at 2.4%.
- Property owners contemplating selling are wise to gear up now for the end-of-year selling season by preparing their homes for sale. De-cluttering, renovating, landscaping and painting are just a few suggestions.
For the complete REIQ Market Monitor Report for Cairns click here.
Daniel Sheehan – selling real estate properly for you.
0409 265 326
