Page 18 - Tropic Magazine Issue 16

INDUSTRY • REAL ESTATE

Million dollar club
HIGH END WHAT $2 MILLION WILL
The high-end Cairns real estate market is prospering, with BUY YOU ELSEWHERE IN
continued growth in the number of $1 million+ properties sold. AUSTRALIA
Words Renee Cluff

The blue chip market in Cairns of locals and people from interstate.
continues to hold its worth, following “The majority of buyers still continue
a steep rise two years ago. According to be local but we have seen buyers
to Australian Property Monitors, 52 from southern states who have sold
homes changed hands for more than up and taken advantage of the great
$1 million in the greater Cairns region value available in our region,” he said. SYDNEY
last year, with 25 of those sales valued “Obviously if an inner city terrace in 1504/101 Bathurst Street, Sydney.
at over $2 million. Sydney sells for $1.5 million - probably Sale price: $1.975 million.
Principal of Belle Property Cairns, in a poor state of repair - and that A 2 bedroom, 15th floor apartment in
Nicholas Slatyer, told Tropic the market same dollar value buys you a beautiful the heart of the city.
is strong, compared to other Australian beachfront home in Cairns, the value is
cities, which have seen a decline. easy to see.”
“The market for homes in Cairns priced The million dollar question now is: ‘will
in excess of $1 million has continued to the high-end market remain strong in
be very steady since the 75% increase we 2019?’.
had in 2016,” he said. “The total value of According to Mr Slatyer, indications
sales was almost $68 million.” are that it will. “We’ve got low
The biggest price paid for a property unemployment, a Cairns city
was $2.65-million for 22-24 Brindabella experiencing rejuvenation and a strong
Quay at Blue Water Harbour in Trinity tourism environment,” he said. “All of MELBOURNE
Park. The same canal estate notched up these factors will help maintain a slow 271/299 Queen Street, Melbourne
the three most expensive house sales and steady upward trend.” Sale price: $1.9 million
of 2017. On average, though, homes in A 2 bedroom, recently refurbished
this market sold for $1.229 million and dual level CBD apartment.
spent 125 days on the market. MORE: belleproperty.com/cairns
Nicholas Slatyer said buyers were a mix

Selection of sales over $2 million

BRISBANE
5 Nindethana Street Indooroopilly
Sale price: $2 million
Architect-designed 4 bedroom house
and pool on 703sq/m block.

ADELAIDE
66 Lambert Road Royston Park
Sale price: $1.8 million
Double brick Tudor-style, three
bedrooms + study on 826 sq/m block.

22-24 Brindabella Quay, Trinity Park PERTH
$2,650,000
2 Grenville Avenue, Sorrento
Sale price: $1.9 million
3 bedrooms with ocean and park views,
plus self-contained granny flat.

DARWIN
38 East Point Road, Fannie Bay
Sold Price: $1.9 million in 2017
57 - 59 Figtree Dr, Caravonica 1402 “Centrepoint”, Cairns City Six bedrooms, wine cellar and pool
$2,100,000 $2,350,000
on 1120 sq/m block.

18 • Tropic • Issue 16