June 18
5 resolutions for home buyers this new financial year
Getting your affairs in order
Buying a co-owner out of a property
CoreLogic National housing Update June 2018
June Market Outlook
Adelaide June 2018
Brisbane June 2018
Cairns June 2018
Canberra June 2018
Darwin June 2018
Gold Coast June 2018
Melbourne June 2018
Newcastle June 2018
Perth June 2018
Regional NSW June 2018
Regional NT June 2018
Regional QLD June 2018
Regional VIC June 2018
Sydney June 2018
Tasmania June 2018
Wollongong June 2018
CoreLogic NSW housing Update June 2018
CoreLogic QLD housing Update June 2018
CoreLogic SA housing Update June 2018
CoreLogic VIC housing Update June 2018
CoreLogic WA housing Update June 2018
Winter warmers: hot tips to heat your house for less
Preparing your home for sale
What you need to know about commercial loans
Cairns June 2018
The month in review: Cairns
By Herron Todd White
June 2018
2018 thus far has proved to be a stodgy year for the Cairns property market. Residential property demand has remained constant, prices have remained flat and the market has remained stuck in a steady state position.
The latest trended median price readings in Cairns for sales during April 2018 stood at $405,000 for houses and $209,000 for units. Technically, these represent price changes during the past twelve months of -2.4% for houses and -5.5% for units.
Our own in-market assessment is that individual property value movements over the past 12 months have been varied by no more than plus or minus 5%. The upshot is that even though solid fundamentals are in place with low rental vacancy rates, no obvious oversupply in any market sector and continued economic improvement, the Cairns property market is still being hampered by a lack of confidence and a constrained fiscal environment.
We have been on record expecting demand for most residential property to revitalise during 2018 as a result of ongoing economic improvement. Sales volumes have been expected to come back to a slow but steady increase and flow through to modestly rising prices. So far it hasn’t happened. What’s more, if it doesn’t happen in 2018, it never will.
Share
DISCLAIMER: The information contained in this article is correct at the time of publishing and is subject to change. It is intended to be of a general nature only. It has been prepared without taking into account any person’s objectives, financial situation or needs. Before acting on this information, Smartline recommends that you consider whether it is appropriate for your circumstances. Smartline recommends that you seek independent legal, financial, and taxation advice before acting on any information in this article.