Fortnightly Update (10/02/2022) – Ray White Cairns Beaches

Welcome to this fortnight’s edition of our Newsletter.

The momentum of the market has certainly raced in 2022 with the month of January yielding a 28% increase in the sales volume and a 37% increase in the sales numbers. Property prices remain on an upward trend. This trend is being fuelled by increased demand, a lack of supply for new and second-hand property and an increase in building costs. I expect this momentum to continue throughout the year ahead.

I received a call this week from a Cairns investment property owner who is based in South Australia, who had been referred to our office as a source of future information about what is occurring in the local market now and into the future. I am unsure if the referring friend is a recipient of this Newsletter and recommended his friend to subscribe. The gentleman said they hear a lot about Brisbane and surrounding areas but little about Far North Queensland. The information enclosed in these Newsletters is always based on local content and I ask our Readers, if they know a friend who could also benefit from this information, to please pass on our details.

In the past week, the Government has released details of the $10 billion Insurance Support Scheme which has been created to subsidise the hugely increased building insurance costs, especially in North Queensland, making Body Corporate fees more affordable for all owners. We wait to see the benefit level per property.

Another $300 million has also just been announced to complete the Western Arterial road from Redlynch, including the building of another bridge across the Barron River at Caravonica. This is very (long overdue) welcome news on a traffic bottleneck problem that has existed for over a decade.

Within this Edition we will provide information on the following:

– Insurance Support for FNQ Property Owners

– High Demand For Cairns Land

– The Rise of Online Auctions

– Ray White Now Report – February 2022

– Paul Stirling’s Property Market Update – February 2022

While we are pleased to report sunny, 31 degrees Celsius days at present, it is no secret Far North Queensland weather can be rather tumultuous at the best of times. As a result, many homeowners residing or investing in FNQ are swift to recognise the rather exorbitant insurance costs that come with the territory.

The Federal Government has released more details this week on the $10 billion Reinsurance pool to assist in reducing insurance premiums for North Queensland homeowners by July this year. It is claimed that the Reinsurance Scheme will reduce premiums for up to 880,000 households and businesses by $2.9 billion over a 10-year time frame, with claimed savings for owners predicted to be up to 10 per cent. Effectively, this will also reduce current Body Corporate fees, making investing in Units or Duplexes more affordable. The proposed savings will no doubt be welcomed news to homeowners permitted the Scheme comes to fruition by the July 2022 deadline.

The rising popularity to reside in Far North Queensland over recent months has left almost no location, whether regional or suburban, untouched by the trend. Sourcing available vacant blocks, particularly close to the Cairns CBD, are at an absolute premium and often, swiftly snapped up once announced on the market.

As a result, those looking to build their abode have alternatively set their sights on the Cairns Northern Beaches. Bluewater Estate located in Trinity Beach has witnessed extraordinary enquiry (and consequent sales) throughout 2021. The latest residential neighbourhood announced to Bluewater Estate, The Reserve, offers their final land parcels for sale with final Lots selling fast.

If you require any more information on land available For Sale within Bluewater Estate, do not hesitate to contact Jackson James on 0401 628 007.

In light of recent times, the option to bid via an online Auction platform has become something of the norm. With various lockdowns and the ever-present increase in Southern migration witnessed throughout 2020 and 2021, the rise in popularity of online Auctions in recent years has increased, and it looks like it’s here to stay!

The online Auction experience is both clear and transparent; which for sellers, buyers and spectators, is an attractive element to a typically daunting process. Buyers have the flexibility to bid via the online bidding function from the comfort of their homes or from virtually any external location permitting they have an internet connection available. The benefit, therefore, means that Investors no longer need to attend an on-site or in-room Auction located a significant distance from their primary residence. It provides an attractive element of choice and flexibility to an investor when making one of the biggest financial decisions they may ever encounter.

If you are interested in learning more about our online Auction method of sale or if you’d like to tune into an upcoming auction visitWatch our Auctions Live or alternatively, contact our office for more information on (07) 4057 1800.

The pandemic rolls on, as does house price growth. While there’s been a lot of talk of a slowdown, there’s still very little evidence that it’s actually happening. In this edition of Ray White Now, we go around the country and provide an outlook for 2022, investigating whether now is a good time to sell. See the latest real-time market insights 👉 https://bit.ly/35WVVZc

For a comprehensive take on current market conditions, watch the video below for an update on what’s been happening in recent weeks within the region.

87 Mount Lewis Road, Julatten

4 Bed 2 Bath

Auction – Tuesday 1st March, 6:30pm

Ray White Cairns Beaches, Shop 1/1 Rabaul Street, Trinity Beach

PERFECT TROPICAL RETREAT

This designer home was purpose-built for entertaining with an emphasis on a relaxed, easy-living lifestyle and an effortless flow of indoor-outdoor, year-round living. The stunning 3.7acre block offers complete privacy, mature fruit trees, immaculate park-like gardens, gorgeous rainforest, and permanent running creeks.

The possibilities for a property like this are endless. Whether you are looking for the perfect hideaway or a commercial opportunity in an amazing location, an inspection will definitely impress you!

This home provides all the elements for an enviable, relaxing, comfortable lifestyle while being quietly tucked away with the added bonus of a slice of paradise in your own backyard, you will not find another like this one.

Call Sonia Poole on 0407 028 388 for further information or to arrange an inspection.

* To view the Live Auction on the 1st March, register your interest or for Online Bidder Registration, please follow this link to our Auctions Live platform – https://auctionslive.com/app/bidder-registration/N0Le

“Please note, as per current QLD restrictions in place – Masks must be worn indoors everywhere in Queensland”.