QLD Cairns, QLD

Good to hear. But I just sold out. It hasn't settled yet, so I'm not counting my chickens

 

Well nothing certain. Still issues relating to insurance remain though the premiums are coming down. I do think having houses for under 300,000 near a city centre where there is growth is starting to look a bargain in any language.

 

The $2500 premium for a 400k house was ridiculous.
I wouldn't discount it, but the unemployment is terrible, and even the major employers (Cairns Base Hospital) are making forced cuts.

 

Unemployment may improve slightly but for real growth, I can only see the expansion of HMAS Cairns having a significant impact and although that has been pencilled in by the Federal Government, it is a long term commitment. Memory suggests 2025? Other positives are the CQ university in the CBD and I think JCU are also doing a central campus. Although nothing boomy it may be more sustainable growth being soooo slow so not a bad thing, if frustrating.

 

I'd like to buy in Cairns as that's my family's hometown. I had a look a while back but insurance was hard to get on units due to cyclonic weather. What areas are looking up @Verdie?

 

Hi Andrew H, interesting post I'm looking at cairns as well , just out of interest why did you advise to keep away from units?

 

Normally body corp is quite high and can eat into your cash flow though I do know of 3 separate instances where someone on the BC committee was able to negotiate lower premiums and reduce BC fees as a result. Capital growth can be very limited too so (IMO) a unit purchase would be purely a CF play (if you're not flipping) if you can find the right one.

 

HI All,

Looking for my First Interstate IP and looking In around $400K mark.
Noticed that Rent around $420-450 in Trinity Park and Smithfield areas.
Which suburb is more better with renting?

MI

 

Just my 2 sense:
I have an IP in Trinity Park area, in the Marina Estate, renting for $460 with large scope to increase into the future once the estate is completely finalised. Benefit is, in that northern part of the region there shouldn't be anymore land being developed that close to the water.

From what i could tell, the yields were similar over most of Cairns, Smithfeild and Trinity Park, however the Trinity park area had a much lower time on market (rental wise) due to its popularity.

Hope that helps!