Page 15 - Tropic Magazine Issue 10

Industry
Real estate

We think 2018 is set to be a stronger
year than 2017, with an increased
Cairns on top demand in construction employment
Real estate guru names as the major projects get under way
Cairns as the nation’s and require more and varied trade
property hot spot for 2018. services. The start of new projects
will also support jobs in early stage
Analyst Simon Pressley wasn’t all talk tropical attractions and laidback lifestyle trades. With increased job prospects
when he named Cairns as one of the as key factors in the city’s top ranking. for locals and new arrivals there will
nation’s property hot spots for 2018 While the “affordability driver” is the top
during a recent interview with Sky News. reason for the number one ranking, only be further pressure on vacancy
Mr Pressley put his money where his Pressley also noted our region’s clean rates, which drives investor activity
prediction is by purchasing an environment, food experiences, beautiful in new and existing housing stock.
investment property in our city. He beaches, agriculture and major projects This will put pressure on values and
believes “you would be flat-out getting a as additional drawcards.
pantry in Sydney or a carport in He also said you can expect a “big bang rentals alike.
Melbourne” for the median purchase for your buck” in Cairns with My tip: Buy or build now as it will
price of a three-bedroom house in Cairns. 600-800sqm blocks, low maintenance only grow in price from the second
In a much-circulated video clip from Sky homes with pools, and, with tight quarter of 2018.
News aired in December, the vacancy rates, a 5% yield on your
Propertyology managing director and investment.
Real Estate Institute Hall of Famer said Pressley says the trend of more people Nickoli Obersky
investing in the Cairns region was a “no leaving capital cities is expected to One Stop Property
brainer”. continue, with 20,000+ leaving Sydney onestopproperty.net.au
He cited our affordable housing market, each year for tree and sea changes.

Healthy yields Port Douglas leads the way in 2017 with Rental yields ranked by location in Tropical North Queensland
9.3% gross rental yield, closely followed
Time to invest in a by Manunda, Bungalow and Edmonton. LOCATION MEDIAN VALUE GROSS YIELD
unit? The latest According to the CoreLogic report
research by called “Best of the Best in 2017”, Port Douglas $256,024 9.3%
Manunda
$153,919
9.0%
Manunda, Edmonton and Woree
CoreLogic found the featured some of the nation’s lowest Bungalow $160,812 8.9%
Tropical North is median unit values. Edmonton $152,917 8.9%
home to Australia’s Despite the attractive nation-leading Westcourt $211,390 8.7%
highest grossing yields, Cairns unit prices have been Manoora $164,431 8.4%
rental yields. doggedly stagnant for years. But that Edge Hill $185,089 8.2%
flat line could soon tick upwards as
strong levels of investment and job Holloways Beach $186,552 8.0%
creation drives population growth, Cairns North $240,453 7.6%
creating higher demand for rentals and Parramatta Park $235,248 7.5%
new housing construction.
Source: CoreLogic