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Viewing 6 posts - 1 through 6 (of 6 total)
  • Profile photo of FREDDIE2SHOESFREDDIE2SHOES
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    @freddie2shoes
    Join Date: 2005
    Post Count: 9
    April 12, 2005 - 1:12 pm

    HI ALL DOES ANYBODY HAVE AN INSITE INTO THE CAIRNS PROPERTY MARKET HAVE SEEN POSITIVE CASH FLOW PROPERTY UP THERE WONDERING WEATHER ITS WORTH THE TRIP UP NORTH FOR A LOOK?

    Profile photo of Tim_3Tim_3
    Member
    @tim_3
    Join Date: 2004
    Post Count: 35
    April 12, 2005 - 10:12 pm

    Freddi,

    have just been looking at the unit market, 2bdr brick units (older style) selling for $110-120 renting for $150 per week.
    Vacancy rate is very low (under 2%) across Cairns, sales and growth appear to be levelling.

    Speak to Chris Gay from Oconnor and Gay real estate.

    Tim

    Profile photo of Still in SchoolStill in School
    Member
    @still-in-school
    Join Date: 2003
    Post Count: 1,844
    April 13, 2005 - 2:26 am

    its too late with Cairns, i was up there last week for a weekender, did look at some property, but your paying premium prices now.. and to be honest.. i didnt see any positive cashflow property there..

    though.. still i will say Cairns is a nice place.. but the property market has already really taken a move..

    Cheers,
    sis

    Wanna Talk About Stocks

    Profile photo of psbone21366psbone21366
    Member
    @psbone21366
    Join Date: 2005
    Post Count: 1
    May 3, 2005 - 11:38 am

    I know of people who are very active in the Cairns and Far North Qld area, reports are that there is not so much interest now and its getting more difficult to get a tennant quickly into the property.
    Scan the online Real Estate sites, keeping an eye on how long rental properties are staying advertised for, and ensure that the agent you are enquiring through doesn’t have an issue with “cashed up Southerners”, some are not happy with them buying up there.

    Profile photo of Fast LaneFast Lane
    Member
    @fast-lane
    Join Date: 2004
    Post Count: 527
    May 3, 2005 - 1:35 pm

    I’ve been wanting to buy an apartment or townhouse in Cairns for a while but even the decently priced ones are just so fundamentally over-valued that it’s just not worth even thinking about. Maybe in a few years though.

    Profile photo of mk2rmk2r
    Member
    @mk2r
    Join Date: 2004
    Post Count: 35
    May 8, 2005 - 9:45 am

    Hey guy’s,

    I don’t know where each of you have been looking but it’s not the same place as I. I have had a lot of success in Cairns in the last 6 months.

    For example.

    Nov 04
    $83,000 one bedder,full furnished
    currently rented @ $150 p/w

    Jan 05
    $85,000 one bedder,fully furnished
    currently rented @ $140 p/w

    And I am currently settling on two others at the moment,

    $94,000 one bedder,expected rent $170 p/w after spending another $10,000 on repaint,new carpet and fittings, bathroom and furniture.

    $93,000 one bedder,fully furnished expected rent $145 p/w.

    All of which were built after Jul 85

    Not meeting the 11 second rule but not far from. Give it a couple of years

    By the way, I just moved from Cairns after living there for 16 months.

    Regards,

    Guy[biggrin]

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