Cairns property news – December 2020
Cairns property market news and real estate view
Property news for Cairns real estate market Dec 2020
1. The recent HTW Valuer’s report indicates Cairns house prices are now moving upwards, the median trend price has increased by approx. 4.8% from Feb 2020 (pre-Covid19). The latest monthly data released by CoreLogic showed prices grew in every capital city rising by 0.8 per cent nationally.
2. Cairns is also seeing unprecedented demand for rental properties from people living interstate. The REIQ CEO Antonia Mercorella said they estimated interstate demand for buying property had increased by about 20 per cent on last year. The demand from interstate buyers – particularly New South Wales and Victoria – has grown even stronger. She said the lack of supply was also playing a major role.
3. INTERESTING FACT OF THE MONTH: The average duration Queenslanders were owning their properties was always around 7 years, now we’re getting closer to staying for 12 years, so we are holding onto our properties much longer than we ever have before.
4. If I don’t speak to you before Santa arrives, have a very-very, merry-merry Christmas and happy-happy New Year for 2021.
Daniel Sheehan
Selling real estate properly for you
0409 265 326
