{"id":20513,"date":"2018-03-13T01:00:18","date_gmt":"2018-03-12T14:00:18","guid":{"rendered":"https:\/\/www.realestatetalk.com.au\/?p=20513"},"modified":"2018-03-13T01:00:18","modified_gmt":"2018-03-12T14:00:18","slug":"far-north-queensland-to-outperform-south-east","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/far-north-queensland-to-outperform-south-east\/","title":{"rendered":"Far North Queensland To Outperform South East"},"content":{"rendered":"

\u201cIf we were to draw a line in the sand at January 2018, I believe that the property market of Cairns will perform better than most locations in Australia over the next 3 years, including better than Queensland\u2019s capital city<\/em><\/strong>,\u201d said Propertyology\u2019s Head of Property Market Research, Simon Pressley.
\nAustralia\u2019s sixteenth largest city is home to the nation\u2019s fifth busiest airport (approximately 5 million passengers per year). Cairns is Australia\u2019s gateway to the Asian Century and the exciting opportunities that exist with the rise of Asia\u2019s middle class.
\nCairns\u2019 assets include an international airport, a major sea port, a number of unique tourism attractions (on land and offshore), world-class facilities for hosting major events and business conferences, recent investment in universities, and an abundance of agricultural assets in the region.
\nPropertyology\u2019s buyer\u2019s agents team are very familiar with the Cairns market<\/a>. We\u2019ve already purchased numerous properties there for our investor clients. I\u2019ve personally invested in Cairns!
\n\ufeff<\/span>
\nThe popular tourism mecca has added important economic diversity over the last decade. Education, health, and the construction sectors have evolved.
\nThe navy is Cairns\u2019 biggest employer. The federal government recently committed $120 million for new infrastructure and a major naval base expansion. Extra marine manufacturing and maintenance jobs are expected from the $200 billion fleet upgrade for Australia\u2019s Defence Force.
\nJames Cook university and, more recently, CQ university have expanded their infrastructure and are attracting more domestic and international students.
\nIn July 2016, Cairns became headquarters for a new federal government department, administering the $1 billion Northern Australia Infrastructure Fund.
\nThere\u2019s already been 11,700 new jobs created in Cairns over the last 2 years. This 11.2 per cent increase is well above the national (3.7 per cent) and state (3.4 per cent) average<\/a>.
\nA large pipeline of major projects means that an additional 10,000 new jobs is anticipated in the next 12 months. Commencing in 2018, Propertyology anticipates a jobs BOOM to drive employment growth, local confidence, and property prices for a few years.
\nAmong an extensive list of major projects are the $120 million port expansion, 3 new 5-star hotels, and a $650 million eco resort.
\n
\nA $175 million expansion of the Cairns Convention Centre will increase capacity for major events such as the Amway China Leadership Seminar for 8,000 delegates in 2019.
\n$475 million is to be invested on three major renewable energy projects (Mt Emerald wind farm, Lakeland solar farm, and MSF Sugar\u2019s bagasse-fuelled power station).
\nHousing supply has been quite tight in Cairns for several years. Residential vacancy rates have been consistently below 1.5 per cent for 5 years, easing even further over the last 18 months to currently be 1.3 per cent.
\n
\nSince 2010, only 450-700 new dwellings have been approved each year. This low volume of new housing supply combined with affordability and jobs-driven demand is the perfect combination for property price growth.
\nOur buyer\u2019s agents have focused on 3-4 bedroom houses within a few select pockets<\/a>. With the typical purchase price in the low $400,000\u2019s and rental yields of circa 5 per cent, the annual holding costs are so affordable that even those borrowing 90 per cent only have to find $3,000 per year. And, the potential for growth is as exciting as anything in Australia!
\nPropertyology<\/a> is a national property market researcher and buyer\u2019s agency. The multi-award-winning firm\u2019s success includes being a finalist in the 2017 Telstra Business Awards and 2016 winner of Small Residential Agency of the Year in REIQ Awards For Excellence. Managing Director Simon Pressley is a REIA Hall Of Fame Inductee and a three-time winner of the REIA and REIQ Buyers Agent of the Year award.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

\u201cIf we were to draw a line in the sand at January 2018, I believe that the property market of Cairns will perform better than most locations in Australia over the next 3 years, including better than Queensland\u2019s capital city,\u201d said Propertyology\u2019s Head of Property…<\/p>\n","protected":false},"author":176692471,"featured_media":20517,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13,20,25],"tags":[70],"class_list":["post-20513","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-story","category-propertyology","category-sponsored-channels","tag-featured"],"yoast_head":"\nFar North Queensland To Outperform South East - Realty Talk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/channels.realty.com.au\/realtytalk\/far-north-queensland-to-outperform-south-east\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Far North Queensland To Outperform South East - 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