Propertyology has found Cairns on track for stellar returns

first_img11 Ferntree Close, Brinsmead.A NEW report is adding to the stream of good news for the Far North property market.Market research firm and award-winning buyers’ agency Propertyology has found Cairns, as well as five other Queensland locations are among 39 places with the right ingredients for “stellar” returns on property.The criteria used included median house prices below $400,000, economic diversity, essential infrastructure, lifestyle, increased demand for housing and expected improvement in economic conditions. Real Estate Institute of Queensland Far North region zone chair Tom Quaid said the data backed what local experts had been saying for the past two years.“We’ve seen the fundamentals in place to support growth for some time now, so it’s great to see external agencies now supporting that view,” Mr Quaid said.“There aren’t too many guarantees in real estate but it was good to see Cairns come up in this report – as it has begun to across a range of studies.More from newsCairns home ticks popular internet search terms3 days agoTen auction results from ‘active’ weekend in Cairns3 days agoPropertyology head Simon Pressley who is is also a three-time winner of the REIA and REIQ Buyers Agent of the Year award. Propertyology is a national property market researcher as well as buyers’ agency specialising in investment property and was a Queensland finalist in the 2017 Telstra business Awards. Picture: Supplied“The market remains affordable for most buyers but poised for growth. If you are serious about getting into the market now is the time to start getting your ducks in a row.”Propertyology managing director Simon Pressley (pictured) said each of the 39 locations had a superior three-year outlook compared to Sydney and Melbourne.“Some homeowners, particularly in the big cities, think nothing of spending $400,000 on a renovation or $800,000 to $1 million to buy a single property,” he said.“However, for the same amount, you can buy two or more affordable properties in locations with considerable upside growth potential and rental returns that generate positive or near-positive cash flow.”Mr Pressley said smart investors look beyond high-priced capital city real estate when building a portfolio.He said based on the total return of capital gains plus rental income, many affordable locations outperformed capital city markets over the long-term.last_img

Leave a Reply

Your email address will not be published. Required fields are marked *