Another record month for properties sold at Powe Property has eclipsed the existing record set earlier in the year. Locals can tell by the extra sold signs around that there has been an increase in sales activity. Although it began at the budget end of the market, this activity has been gradually washing up into higher valued properties.

We are seeing many buyers now taking advantage of price reductions and there seems to be more interest in the prestige end of the property market.

An interesting guide to the performance of prestige property sales could be a penthouse auction in the Royal Harbour complex on The Esplanade which sold under the hammer in October for $1,080,000. It was one of the highest auction sales results for an apartment in Cairns' history.

A combination of historically low interest rates, increased expat activity and the promise of good buying opportunities are contributing to increasing numbers of buyers across Cairns.

The smart money seems to be saying this is the time to buy quality real estate at good prices, reinforcing our long term belief that late 2009 and early 2010 is the time to secure quality investments.

Cairns’ growing population and severe shortage of new residential construction will mean that the competition for the best property will intensify during 2010 and beyond.

Summer is a wonderful time of year that often brings with it an increase in activity in the Cairns real estate market. So if you are considering selling and want the special attention your property deserves, please contact us in confidence for quality advice.