Sales demonstrate demand for quality apartments in Cairns
March 16, 2010
While property markets around Australia are still recovering from the GFC, the sale of 65 apartments since September 2009 in four of Cairns ‘ most desirable developments demonstrates the ongoing demand for quality apartments in Cairns .
While January and February are typically considered slow months in the Cairns Real Estate market, Peter Shervey, Sales Manager of Which Property? believes interest in the developments, Vision, Citi Edge, Vue and Trinity Cove demonstrates quality properties representing good value for money are still highly sought after.
“With Cairns already pin-pointed as a major growth market requiring 1,919 dwellings every year until 2024*, we are seeing shrewd investors entering the market to take advantage of the anticipated capital growth,” he said.
The Long Term Forecast Report released by BIS Shrapnel in February, has senior economist, Richard Robinson, stating that “The Australian economy is on the threshold of a major cyclical upswing. Growth will pick up speed over the next two years and build into a boom later this decade, driven by rolling investment cycles.”
“With the upturn in the economy, it is anticipated that quality accommodation in the sought after holiday and lifestyle regions such as Cairns will benefit from the effects of this growth,” said Mr Shervey.
“These four developments satisfy the most important buyer criteria including quality, location, tenantability and return on investment and the combination of spacious floor plans and great locations in the CBD and on Trinity Beach represent outstanding value.”
Australian Property Monitors data identified Cairns City as seventh on the list of Australian Top Rental Growth Suburbs in 2009 making it an attractive option for investors as well as owner-occupiers and first-time homeowners.
Prices start from $310,000 in Trinity Cove, $330,000 in Citi Edge, $440,000 in Vision and $635,000 in Vue. For more information, please contact Which Property? on 07 3505 6000 or email info@whichproperty.com.au .
*Residential Development Council , Australia on the move report, 2nd July 2009
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