Interest in Cairns Real Estate Continues To Build

Interest in the Cairns residential housing market continues to build as we head towards the final countdown. It is just two weeks from the reintroduction of the Home Occupiers Stamp Duty Concessions in Queensland, on July 1st. Great to see crowds beginning to build at our advertised Open Homes and Auctions! I have just come from a Receivership Auction at Trinity Beach with a crowd in attendance of some 80+ people with several strong bidders, crowds not seen for some 4 years in Cairns. While there is plenty of interest, we are still dealing with the most educated buyers we have ever experienced. There are so many internet sites for buyers to learn and understand the market and property values. One to watch out for is www.onthehouse.com.au.

We are well and truly entrenched in a Buyers Market whereby, they call the shots and Sellers remain either wedded to prices that, in many instances, are simply unachievable in the present Cairns market. Or banks retain a strangle hold on Property owners who simply cannot sell for the prices that buyers want to pay due to negative equity.

There is no doubt that sales volumes are increasing and prices stabilising in a trend, that many say, could last for several years. The good news is that there is plenty of action going on in what is possibly the new “normal market” for our region.

Regards,

Debbie Aldred

Cairns Property Pulse

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Huge interest at todays Trinity Beach Auction 16-6-2012