Cairns Market Report - June 2009

Since the global financial crisis began early last year most cashed up buyers have been holding back and watching the Cairns property market closely for the right time to buy. Little was selling, but that was until recently. The market dynamics have been moving in the right direction for those looking to put their name on a slice of Cairns real estate. The number of our sales has jumped, demonstrating that many buyers are deciding with their cheque book that now is the time to buy.

Borrowing is cheaper with mortgage rates 4% off their peaks with more cuts likely, and those with cash in the bank are becoming more real estate focussed as their returns shrink. The rental yields on investment properties have been rising too, narrowing the gap between income return and mortgage costs.

In the past, Cairns property prices have reflected its special attributes. Right now, the current financial climate has delivered some attractive opportunities to buy at prices not seen for years. It is a second chance for those who felt they missed the Cairns boat before, however these unique opportunities won’t last.

The PowerSale method of sale is proving to be effective for our clients with strong clearance rates for properties sold using this method, and our clients are delighted with its superior results. The combination of a powerful database, premium quality marketing, and extensive staff training are making the removal trucks appear at our clients properties as short as 30 days later.

If you are considering selling and want the special attention your property deserves, please contact us in confidence for quality advice.