QLD Cairns, QLD

Discussion in 'Where to Buy' started by B-Mac, 10th Nov, 2015.

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  1. Bran

    Bran Well-Known Member

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    I hope you are right. It's been a dog for a decade.
     
  2. bob shovel

    bob shovel Well-Known Member

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    @Bran are you sticking with holding?

    We're planning our next move and thinking heading back to Cairns towards the end of the year. Thinking of buying ppor and Reno rather than renting up there, plus then having the option of leaving our stuff and renting furnished.

    Surely it's got to get moving soon (next 12-24??). Once bris heats up more buyers will be looking for the "next area"
     
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  3. Bran

    Bran Well-Known Member

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    It's listed, but via my PM my tenants are very keen to stay, are excellent tenants, and have offered an extra long lease. I've listed it at a fairly unachievable price, so I think we might end up holding it a bit longer.
     
  4. bob shovel

    bob shovel Well-Known Member

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    Sounds like the signs point to hold, take advantage of a longer lease and reassess in 6-12 months
     
  5. Bran

    Bran Well-Known Member

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    I feel a bit bad now the agent has coughed up for re.com.au
     
  6. bob shovel

    bob shovel Well-Known Member

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    Buy them a box of chocolates. They get their PM commission.. Unless it's another agency :oops:. I'm sure they've had people pull out before, it's all include in their fees
     
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  7. Azazel

    Azazel Well-Known Member

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    A lesson in becoming one of those hardened investors.
    Hope it works out either way for you.
     
  8. Bran

    Bran Well-Known Member

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    Another agency
     
  9. 733

    733 Well-Known Member

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    What price range you looking at?
     
  10. bob shovel

    bob shovel Well-Known Member

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    I'll jump into that arena too, sub 350k possible?
     
  11. bob shovel

    bob shovel Well-Known Member

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    How's the unit market going? Any over supply issues on the horizon? There are Good yields around the CBD by the looks.
    I did enjoy renting on upward St... Next to the railway. But the short walk to the espy was great
     
  12. Bran

    Bran Well-Known Member

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    My 'excellent tenants' are now so keen to stay that they won't allow photographs or inspections.

    They are pleading with the selling agent that they are "excellent tenants", "please find an investor", but nevertheless are playing hard ball.

    Very soon, I will have no choice but to issue them with notice to leave (or whatever the PM will call it). They are destroying any good will I had towards them .

    Anyway, a couple of inspections tomorrow night. Fingers crossed!
     
  13. Bran

    Bran Well-Known Member

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    What's the word on the street?

    Literally ran into some old Cairns colleagues at lunch, and they tell me the market is ticking along quite nicely thank you.

    Selling agent tells the opposite story.

    @JenJen ? @Kinnon Bell
     
  14. Kesse

    Kesse Well-Known Member

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    I think it's picking up a bit. I usually attend opens of a saturday with REA friend of mine and days on market seem to be going down and numbers to opens seem to be going up. Majority to opens seem to be investors too around the $300k-$700k price point. Some local and some out of area buyers. Also towards the top end price is out of area people moving to the area. Cashed up buyers where Cairns prices seem cheap to them. Local home buyers are still a bit scared I think but certainly don't get the feeling of doom and gloom.

    But as a whole I think the confidence is there both north, south and west of the CBD and there seems to be quite a bit of small scale developments happening too.

    A little birdie told me Smithfield shopping centre is getting a makeover with a cinema (yay!) complex going in too - they're currently putting to tender the different aspects of the job.

    I won't say it's all happening but it's getting there.

    Maybe the REA is trying to condition you to accept a lower price on your property?
     
  15. Bran

    Bran Well-Known Member

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    This is exactly what is happening.
     
  16. Bran

    Bran Well-Known Member

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    I've just spent an hour reading various sources from the draft amendment scheme, through news outlets, mayor reports etc etc etc

    I am not seeing doom and gloom at all. I am seeing frustration that things are not happening fast enough. I see a very bright future if and when Cairns gets it right, particularly with the Asian influx and increasing short term arrivals. The draft amendment might be particularly exciting with increasing height limits. A few new hotels and the city is off and away.

    Furthermore, its counter-cyclical behaviour with the economy/low dollar promoting tourism might just make it more of a keeper.

    I'm waiting for the tenants to answer their phone. If they offer a rental increase, I might take it off the market and lie low for another 10 years.

    Last years 15K holding costs were a shocker - this year, my interest bill should be 3K lower, my insurance IS 4k lower, I should avoid 4K of deliberate damage. This gets me closer to neutral. Forty/fifty bucks a week rent more over the coming years and it will be positive forever more. Not a massive imposition when its offsetting a 48c in the dollar taxable income.
     
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  17. Bran

    Bran Well-Known Member

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  18. bob shovel

    bob shovel Well-Known Member

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    The shopping centre is for sale to. Stocklands I think it is
     
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  19. Andrew H

    Andrew H Well-Known Member

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    Its moving alright. I've put offers in on 3 different properties in the last 3 weeks and lost all of them! All of them have only been on the market for 24 hours!! and taken off just as quick. If i stop watching for a couple of days i know i'll miss these deals which is rather annoying. I'm only looking at the CBD and South suburbs <400k. Lost 2 of them to cash buyers (terms on finance) and another on price by 10k.
     
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  20. bob shovel

    bob shovel Well-Known Member

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    How does Cairns area like dual occ? 2 story house on a big block. South side.

    Or do tenants prefer standard house or unit?
    I understand water and electricity will be on the LL. The pm got back to me with a rent review but wasn't too forthcoming with the dual occ idea