September 28

Drop in Cairns house prices nothing to worry about

first_img25 Manilla Cl, Mt Sheridan“Buyers are looking for all types of properties – from units to houses, from the cheaper end to the more expensive,” he said.“If sellers want to sell, they will meet the market. If they are looking for a premium, that will be more difficult.”The median asking rent for both houses and units has risen by $10 over the past year to $390 and $290 per week respectively. 6 Brian St, BrinsmeadUNIT prices have remained steady while houses in Cairns have recorded a slight drop over the past year, but it is nothing to get too worried about.The latest Core Logic data showed the median sale price of houses in the city over the 12 months to May 2019 came in at $370,000, $5000 less than 2018 figures.But, the market had lifted significantly since 2009 when the median sale price was $327,750.In 2014, buyers paid $345,000 and in 2016 the median price had risen about $20,000 to $364,000. More from newsCairns home ticks popular internet search terms2 days agoTen auction results from ‘active’ weekend in Cairns2 days ago11 Noble Cl, EdmontonThere was no change to the $215,000 median price between the 12 months to May 2019 and 2018.The cost of buying a unit has jumped just $3000 compared to 2016 and $15,000 since 2014. In 2009 however, those selling a unit got a median price of $225,000 for their property, well above today’s prices.LJ Hooker Cairns Edge Hill principal Ross Moller said while buyers were returning to the Cairns property market, conditions showed it was not a sellers’ market. last_img read more