Cairns Property Prices ready to Climb
According to the latest Cairns Watch report, the property market has reached the bottom of the cycle and is now getting ready to lift off from the bottom to the beginning of the recovery phase.
The monthly publication, produced by Herron Todd White Cairns, provides commentary and insights into key local economic indicators for Cairns.
Commenting on the latest property market indicators, Herron Todd White research director, Rick Carr, pointed out that property prices were starting to move modestly in the more popular suburbs like Edge Hill, Whitfield, Upper Mooroobool and Freshwater.
Carr said that the Cairns property market was seeing stronger sales activity which had persisted for some time, but he emphasised that the upward movement in price was still patchy, and that the recovery was not yet widespread.
He also noted that property prices in general had typically risen by up to 5% in the last 12 months.