Page 17 - Tropic Magazine Issue 28

TROPIC • REAL ESTATE

Real estate wrap 5 Planchonella Close, Edge Hill

SOLD $2,000,000 in October 2020
COLUMN by Nadine
Nadine Edwards from 2021 market
LJ Hooker Edge Hill with her Navigating the abundance of literature,
take on the local property online property valuations – driven predictions
by algorithms that don’t reflect a
market. property’s improvements since its last • Strong demand for vacant
purchase – and conflicting advice can be residential land with little supply
Welcome 2021! We are so pleased (and overwhelming for a buyer. and prices increasing.
relieved) to meet you. We commence this • Many home builders having
year with revised goals and a positive a significant amount of work
outlook on the real estate horizon – and booked.
probably more gusto than previous years! In our agency’s experience,
The Cairns property market finished • Activity and upward pressure
2020 strongly. With an under supply last year our strongest on prices in the lower end unit
of properties for sale and rent, our listing months were June market from both investors and
some owner-occupiers.
prices remained buoyant with some
suburbs flipping into “seller’s market” and July, with October and • Strong demand for well-located
conditions, while most others were December our strongest owner-occupier units with limited
“balanced markets”. stock.
From February last year, there was a selling months. • Reports of an increase in demand
continuous barrage of emails from emerging for upper end and
economists opining that property prices prestige properties.
would sadly decline. However, Cairns – • Very low residential vacancy rates
and it appears most of Australia – defied While information is important and in most locations in Far North
this downward trajectory. powerful, purchasing a property (even an Queensland.
We’re now equipped to handle whatever investment) is still a very personal and in
restrictions come our way and can adapt some instances, an emotional experience. • A healthy established home
with the use of phone video functions. This one transaction is the largest most market with limited stock and
We’ve even learnt how to use a Gimbal people will ever do. upward pressure on prices.
to hold smartphones – although I did I’ve been working as a real estate • An active rural residential market
conduct my first video open home walk- salesperson in Cairns continuously for constrained by limited stock with
through visually sideways, much to the seventeen years, and one thing I can say increasing prices.
amusement of some. is, when a buyer walks into a property • A positive shift in sentiment to
Technology has come to the forefront in they pretty much know instantly if it’s regional locations where demand
most industries and real estate is “the one”. I’ve sold properties to buyers has been weak for years.
not immune. who have seen only two homes and I’ve • Record low interest rates,
Buyers are armed with more information sold to those who have viewed over 60. relatively easy access to finance
than ever, and agents need to be skilled On each occasion, the buyers connected and the possible softening of the
like never before. Proving our worth to a with their chosen properties instantly. responsible lending guidelines.
property owner is one thing, but proving While the trend is to automate sales
it to a buyer is another. processes, nothing defeats personal Source: Craig Myers, Herron Todd White,
Month in Review December 2020
This can be challenging as an agent may interaction in a real estate transaction.
only meet a buyer at a property briefly I do believe the value of this interaction
before launching into negotiations, will continue – we aren’t robots. The MORE: cairnsedgehill.ljhooker.com.au
whereas with property owners, there’s importance of connection and trust Nadine Edwards: 0423 602 606
usually ample opportunity to build trust between a seller, buyer and agent remains
and rapport. relevant and vital.

17 • tropicnow.com.au