WHO HAS BEEN BUYING CAIRNS?

This is a joke. A month and a half ago I identified and purchased two small units in Cairns.(Major cashflow positive). Now I look at the internet and similar units have jumped $20 000. What the hell is going on and who out there is responsible? Tell me if any of you have bought Cairns. This is one huge boom we are in. The budget Cairns market increased 40% in three weeks.

Wasnt me,... dammit!

Yep, Harold.

It's Queensland's turn finally.

Milo

Hi Harold

I'm still looking to buy my first IP and am looking at Cairns coz I want a positve cashflow property.

If you don't mind answering a few questions ... What area did you buy in? House/Unit/Villa? How much did you pay?

Thanks

EnuffIsEnuff

Hello, EnoughisEnough

I picked up a shitty unit in Westcourt, strictly designed for mall rats and transition divorced people. It listed in the early 40's and I got around a 10% discount for cash. I didn't see capital gains in its future but then I don't want to sell it either.

I also picked up a reasonable two bedroom unit in same suburb for close to listing price of 65. It shall be more positive geared as soon as I hike the rent up

I envisaged an orgy of positive geared buying but now they are jacking up the prices unfortunately.

Hey people,

I have been to Cairns a few times of late for work and am going up again this week. Is it possible that the reason prices are going up in Cairns at the moment is due to Joe Hockeys comments about Sydney not being a popular tourist destination for the Asian market anymore, and places like Cairns are starting to take over as "the gateway to Australia". I believe Jo mentioned Cairns specifically. I have always viewed Cairns as being tourism based and in competition with Townsville - Townsville having more industry plus the army barracks I would have thought it would boom first. Goes to show what I know.

I've heard Townsville is booming as well.

Basically everywhere is booming. Who knows when it will end and where prices will go down to

Hi there,

Hmmm...maybe I shouldn't have wasted those Cameron Bird advertising letters...

Cheers
Sooshie

"small steps make the journey" (SAS)

SARS - contagious desease.

SARS - small steps make the real journey

Chan$

Thanks for the info Harold. My sister lives up there so I will get her to do some research for me.

Gotta get a property soon.

EnuffIsEnuff

Mcdeyess,

If Townsville has the army and army baracks, it has a good chance to BOOOOOOM, ofcourse.

Sorry, just couldn't resist posting this silly joke.

Isn't this how herd mentality works.
Prices are booming and everyone wants in.
What about the fundamentals. What does Cairns have supporting the increasing prices?
i.e. is tourism dramatically increasing? other industries moving there????

Don't want to sound negative, but why does everyone suddenly think nth QLD is a good place to buy?

I would also be keen to hear from people who have done wrap business or lease options up there.
Any success????

...Mika

Hi Harold

Try Jan Somers web site. I think an investor from Singapore made a posting about how much property he had bought in Cairns.
Certainly a cunning way of making a very quick buck now that everyone wants to buy there and prices have gone up.

Regards

CAIRNS BUYERS BEWARE - I have been travelling regularly to Cairns and other areas in North Queensland for about 10 years and can remember other booms in Cairns unfortunately followed by big busts which last for many years. In addition to the capital losses, rental incomes have fallen as well. Remember the last days of the telco boom of a few years back.

Bribie