As our economy bounces back after what can only be described as unprecedented times, in the past 18 months. No doubt we are still in uncertain times right across Australia, with again shutdowns in Victoria, and the virus flouting itself with small cases in NSW.
Without the International flights bringing those much anticipated and welcomed visits to the Cairns region, we have certainly seen a huge, and much welcomed increase in our domestic tourists. This in turn has bought a little more optimism and hope to our floundering tourism sector. I feel it’s only going to get better with the dry season now upon us, bringing our much loved milder, warmer winter weather. For those looking to escape the cold winters of the south, Cairns has become the number one destination for our southern visitors and a very busy tourist season ahead.
As for our much-loved Real Estate market, we have certainly seen a huge volume of buyers taking interest in the Cairns region of late. I have been asked by many local residents of late: What’s bringing the buyers to Cairns, and why is the market so hot?
Well, there are a few factors that we can contribute to our good Real Estate market. I have outlined a few of the more obvious reasons to help us understand why.
•Our interest rates are at an all-time low.
•Our median house price in Cairns is at a very low $405,000 and represents great value.
•Our rental market is super strong with record low vacancy rates of around 1 to 1.2%.
•People are looking to move out of the Cities as they look to the regional areas of Australia where they feel it’s much safer and more affordable living for the family.
•We have also seen a huge shift in our working environment, as more and more people take to working from home and feel they can carry out their job sufficiently from anywhere in Australia. This in turn has seen a big influx of interstate buyers.
•Government stimulus packages across the building sector have seen a flurry of first home buyers entering the market for the first time in many years.
And obviously, the list goes on and on. So, yes, it’s a great time to sell if you have been considering this for some time!
If you would like one of our very experienced sales staff to give you an idea of what your home may be worth in the current market, then please don’t hesitate to call Cairns Leading Real Estate where our team are “Leading with results”.