Cairns Property News – August 2022

This month I’ll start with my current favourite Dad-joke  🙂

Q. What happened to the dog that ate all the Scrabble tiles?
A. For days later he kept leaving little messages around the house.

According to CoreLogic’s Research Director, Tim Lawless “Although the housing market is only three months into a decline, the national Home Value Index shows that the rate of decline is comparable with the onset of the global financial crisis (GFC) in 2008, and the sharp downswing of the early 1980s”.

Australia’s housing downturn accelerated in July, with national home values falling -1.3%. The country’s five eastern capital cities each recorded month-on-month declines. Overall, regional markets are still outperforming their capital city counterparts, but this month’s figures show major regional centres are not immune to falling home values. Dwelling values were down in Regional Queensland (-0.7%)

Rental markets are still extremely tight, with vacancy rates around 1% or lower across many parts of Australia. (Source: CoreLogic Aug report)

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Daniel Sheehan
Selling real estate properly for you

0409 265 326