Blog Posts

Cairns Convention Centre gets $176m in 2017-18 State Budget
June 14, 2017
TREASURER Curtis Pitt has announced $176 million in the State Budget for the “catalytic” expansion and upgrade of the Cairns Convention Centre.Only $1 million will be spent in 2017-18 to develop a business case, but the State Government says it is setting aside $176 million to com...
Cairns couple shares love of Queenslanders with social media following
June 14, 2017
CAIRNS couple Andrew Cox and Katie Fulton have used social media to share their renovation journey with like-minded Queenslander enthusiasts.In late 2015, they bought an attractive three-bedroom home at 17 Denbeigh St, Parramatta Park, with the intention of throwing themselves headfirst into a new D...
Cairns ‘castle’ on the market after 10 years as family-friendly wonderland
June 14, 2017
Written By Hayden Smith - Cairns Post.WITH its European architecture and fruit tree-lined gardens, this “castle-like” Smithfield manor resembles something from a fairytale.And for the first time in a decade, the unique home at 2 Mangosteen Cl is on the market, listed for offers above $68...
Free Ebook. SMSFs and Property: A guide to investing
May 24, 2017
With so many Australians seeking to invest part of their hard-earned superannuation into property, it is apparent that there is significant earning potential to be found in real estate for savvy investors.
Download The Free eBook Here
Since July 2016 We Have Sold More Property Than Anyone Else
March 30, 2017
$49,000 per property than our nearest competitor.
"Grandfathering" Won't Prevent Negative Gearing Woes
June 16, 2016
Shane's New Blog Page
May 28, 2012
I have moved my blog page to a different location
Please click on the link below to view my new blog page. Cheers Shane
The Pacific International Gets A Revamp
May 17, 2012
THE owners of the first international hotel in Cairns have shaken off the tourism blues and will today reveal a $10 million upgrade to its conference centre.
The upgraded centre and events facility occupies the entire third floor of the Pacific International Hotel on the Esplanade. Executive director Paul Kamsler jr said the refurbishment, started in 2008 and done in five stages, was a significant commitment by the family owned hotel. "For us the global ...
Far North Included in HIA awards
May 17, 2012
Seven hundred people are attending the awards at the Cairns Convention Centre, with three Far Northern builders in the finals.
HIA communications national director Greg Weller said yesterday the awards would generate $1.2 million in accommodation, food and beverages, meeting venue hire and other expenses. He said the awards were held at various parts of Australia each year. "Cairns has been chosen this year because it is a ...
Carnivale 2012 Hits Port
May 17, 2012
Prepare to taste, watch, dance and play in the tropical seaside village of Port Douglas.
A smorgasbord of tropical delights awaits in Port Douglas this weekend, as the resort town prepares to host the 2012 instalment of its biggest party of the year. Port Douglas Carnivale 2012 is one of the Far North’s biggest and best-attended festival events, featuring a huge selection of live musi...
Suncorp assures policy holders
May 17, 2012
SUNCORP has reassured its Far Northern customers their insurance policies are safe, despite a decision to cap coverage in two other highrisk Queensland centres.
The company says it will not take on any new policies in the flood-prone towns of Roma or Emerald, but will continue to cover existing customers.
New Mayor Outlines Plans
May 17, 2012
WHEN Bob Manning officially takes the mayoral reins, he will have more than rates, roads and rubbish on his mind.
The seasoned businessman knows the modern-day mayor needs to think beyond the traditional duties of a council.
Westpac, HSBC and ME Bank cut fixed rates
May 17, 2012
Following on from May 1 RBA decision to cut the cash rate by 0.5 percentage points, Westpac has cut its headline three year-fixed mortgage by 20 basis points to 6.19%.
HSBC has cut its three year fixed-rate product to 6.09% or 5.99% for those investors who take up the interest-in-advance offering ME Bank has also cut its three-year fixed rate mortgage product to 5.99%. Currently the cheapest three-year fixed rate offering appears to be the 5.89% rate offered by ...
The Home Of Pooh & Stones.........
May 15, 2012
Delightful Cotchford Farm enjoys a fascinating provenance with both literary and musical connections.
In 1925, the house was bought by the renowned author, dramatist and poet A.A Milne as a country retreat for himself, his wife and son, Christopher Robin. It was here, amidst the beautiful Sussex countryside and surrounding woodland where the wonderful stories of Christopher Robin and Winnie-the-Poo...
From Shane's "Watchin Cairns" eNewsletter
May 11, 2012
Well, it has been a while since my last “Watchin Cairns” has gone out, I have been extremely busy and have had two of my better months in a while, already 5 properties under contract this month.
During the week I (and just about every agent in Cairns) went along to a presentation by John McGrath, he is the leading real estate expert in Australia, and one I always try and see. John McGrath said; "You’ll never know that the market has turned until after it’s turned," Mr McGrath said. "In my o...
HTW Property Snapshot
May 11, 2012
Whilst the Cairns property market remains soft, the median house price has now stabilised.
In February 2012, the Cairns median house price trend came in at $343,000, which is down only 0.6% on the $345,000 median house price recorded in July 2011. Meanwhile the median established unit price trend came in at $174,000, a reduction of 7.3% since July 2011. N.B. The median property price ...
Vendor Discounting Is Falling
May 11, 2012
Vendors no longer have to offer as deep discounts as last year to secure sales of their properties, new data released by Australian Property Monitors reveals.
The amount of discounting required peaked in winter and/or spring in mid- to late 2011, according to APM, with the most discounting required between June and November last year in all capitals. In Sydney, Brisbane, Perth, Darwin and Hobart discounting has reached its lowest level in a year in early...
Cairns Airport Numbers RISE
May 11, 2012
THE number of scheduled domestic flights and seat capacity to and from Cairns airport are at record highs. Are you jetting off anywhere this weekend?
There are now 38,384 seats available each week on 235 flights operated by Qantas, Jetstar, Virgin Australia and Tiger Airways, according to Tourism Queensland figures for May. Cairns Airport chief executive Kevin Brown said capacity was up 3 per cent on May 2011, or nearly 1200 passengers a week. "D...
Cairns Rental Market Is Getting Better
May 11, 2012
Demand for rental properties has risen in Cairns with reduced vacancy rates across the region and Queensland and median house sale prices have fallen in the same period, according to two separate reports.
The Real Estate Institute of Queensland (REIQ) released the March residential vacancy rates on April 30 that showed Cairns rental vacancies have dropped by 1.3 per cent since this time last year. REIQ Cairns chairman Greg Clyde-Smith described the property market as “reasonably healthy”. “Cairns has...
The RBA is in a real bind on interest rate movements
April 19, 2012
Following a raft of economic data that has come out recently I felt it was important to reflect on this data. It is obvious that the Reserve Bank is currently in a very tough predicament.
While much of the data is proving to be quite negative and providing a clear case for interest rate cuts, every now and then other pieces of data highlight that perhaps things aren’t so bad. Most notable of these data releases was the labour force data. Despite most economists expecting an increase...
PNG Investors Top Of The List
April 19, 2012
PAPUA New Guinea residents are the largest foreign investors in the Far North, according to the latest figures from the Registrar of Titles.
They bought commercial, residential and other property worth $4.5 million out of $16 million of foreign purchases in the last financial year. Next on the list was the UK ($3.5 million), NZ ($2 million) and Japan ($1.9 million). Other notable buyers were from the Czech Republic ($680,000), Greece ($5...
Hoppens Carpets On The Hop
April 19, 2012
CONFIDENCE in the future of Cairns has led to Hoppen's Carpets building new $1.5 million premises at Manunda.
Work has started on the Anderson St site by Keir Constructions and is expected to take six months. Director Wayne Hoppen said it was time for the 38-year-old business to have its own premises after leasing properties in Sheridan St, Spence St and McLeod St since 1974. "We believe in the future of Ca...
New housing approvals nearly doubled
April 19, 2012
NEW housing approvals have nearly doubled in the Far North, surprising industry leaders. Has the tide finally turned? Is this the year Far North Queensland's economy finally gets back on track?
In the latest figures released by the Australian Bureau of Statistics, new housing approvals for the region jumped from 57 in January to 102 in February, a 79 per cent increase. Master Builders Cairns regional manager Ron Bannah said he was delighted and pleased by the rise. "This news is quite plea...
Hard times take toll on Cairns Courthouse Hotel
April 19, 2012
ONE of the city's landmark pubs has been placed in receivership but will continue trading in a bid for survival.
What can be done to save the Courthouse? Glen Miller of BRI Ferrier was appointed receiver for the Courthouse Hotel on Monday. He said the historic venue, on Abbott St, would remain open in an attempt to trade it out of a yet-to-be-determined debt. "Our intention is to trade as normal and offer the ...
Cazaly's Expands By $6 Million
April 4, 2012
THE region's biggest sporting club is defying a bleak economy to launch a $6.5 million expansion that will generate up to 80 local jobs. After being named Queensland’s Best Club 2012 last week, Cazalys has announced it will extend its premises by more than 1800sq m.
The club will take over the existing Beaurepaires site, with the work expected to generate up to 70 jobs. Cazalys general manager Jason Salecich said the club would hire up to 10 more staff to cope with the expansion. He said the city's economic climate was precarious but he was confident the invest...
Will The RBA Cut The Rates Next Week?
March 30, 2012
Will The RBA give us a rate cut….??? The expectations are that next week the Reserve Bank could award us with an ¼% interest rate cut. We all know that we need this to help the market to pick up..
Most of the pundits are saying that the RBA will start cutting rates from the middle of the year. Retail sales growth had softened since mid 2011, and the rising growth in employment. Now with the prospect of a slowing Chinese economy, the rest of Australia will feel the slow down, the time is right...
Mud mania swamps Redlynch State College
March 29, 2012
MUD mania took hold of hundreds of Redlynch State College students yesterday in one of their largest fundraiser events of the year. A change of clothes was a must for about 870 students, from prep to Grade 6, who joined the annual obstathon yesterday. The children climbed, dodged and slid across a number of challenges, with every lap helping to raise money for the school.
An expected $12,000 was raised and will support campus projects, including playground upgrades. Deputy Principal Sam Molloy said the annual event had been held for the past 15 years and always made for some mud-splattered fun. "The kids love it, they get so excited – you have to drag some of them of...
Incoming LNP members promise to make sure Far North's voice is heard
March 27, 2012
GAVIN King, David Kempton and Michael Trout will unite as a force for the Far North when they take their seats in State Parliament, insisting the region's voice will not be drowned out in the huge Campbell Newman-led LNP government.
The newly elected LNP members in Cairns, Cook and Barron River will make the region’s languishing economy among their top priorities after clinching clear victories in the long-held Labor seats. Cairns.com.au: Live coverage of the State Election, from the moment the polls opened until the last resul...
Charge More, Property Managers Told
March 27, 2012
Property managers should start charging clients more, a leading property manager has said.
At the recent Real Estate Institute of Queensland (REIQ) North Queensland Convention, held in Townsville, Malcom Riley, of MR Presentations, told principals and agents it was time to start charging more for all the services they offer, no matter how small. “We are doing too much for free,” he told ...
HIA Calls For Rate Cuts
March 26, 2012
The Housing Industry Association (HIA) is calling on the Reserve Bank to cut the official cash rate yet again in a bid to curb the decline in residential construction activity.
“The residential building industry is a key barometer of Australia’s economic health, but regrettably there is unequivocal evidence of a further deterioration in conditions following a very weak 2011," HIA managing director Shane Goodwin said. "Business closures and job losses are mounting and thou...
Trout, Horses what some neighbours are doing next door.....
March 22, 2012
THERE was a gaggle of geese living in an apartment. A vindictive owner who regularly ran all the taps in his unit to deliberately push up the water bill for the rest of the block. And a horse that was kept in a Glebe townhouse.
The number of complaints about strata schemes has been steadily increasing over the past decade, rising from 945 requests for strata mediation lodged with NSW Fair Trading in 2003 to 1405 in 2009 and 1474 last year.
Strata Insurance Update
March 22, 2012
SCA has taken the lead in finding a solution to the crisis in strata insurance in cyclone-prone areas of northern Queensland and Western Australia. There has been a Federal Government review and parliamentary inquiry. Natural Disaster Insurance Review In November 2011 the Federal Government released the report of the Natural Disaster Insurance Review. The Review, originally set up after the Brisbane floods to look at the lack of flood coverage, endorsed SCA's position that assistance to households in high risk areas should also be available to body corporates.
Also in line with SCA's submission, it recommended the creation of a government reinsurance facility to help insurers provide affordable flood cover. More importantly, it also accepted SCA's arguments that the same issues of insurance market failure were causing a crisis in affordability and coverag...
Capital City vacancy rates tighten
March 21, 2012
We know it's happening in Cairns and the figures in the capital cities are doing it too, this means the prices will start to slowly get better.
Residential vacancy rates in most capital cities slipped for the second month in a row in February, with Hobart the only capital recording an increase in available rental properties of 0.2 per cent. New data from SQM Research shows the national average fell to 1.7 per cent in February, down from 1....
1st Home Owners Move and Negative Equity Starts To Rise
March 20, 2012
The share of homes with mortgages worth more than the property's value increased at the end of last year as the housing market stalled and prices turned lower. New home buyers saw the biggest jump in so-called negative equity.
Property information group RP Data said that 6.4 per cent of homes were valued at less than their purchase price in the December 2011 quarter, rising from 4.9 per cent of the market in the September quarter.
Inflation not a threat and another interest rate cut needed: CommSec’s Craig James
March 15, 2012
On the back of yesterday’s news that consumer confidence has fallen to levels last seen before the November and December rate cuts CommSec chief economist Craig James says Australians “risk talking ourselves into a growth recession”.
“[This is] a period of sub-trend economic growth, which feels in many respects like a recession but doesn’t involve the economy actually going backwards,” says James. The March Westpac–Melbourne Institute Index of Consumer Sentiment showed a slight increase in housing sentiment but an overall five-...
This Is How Real Estate Agents Get A Bad Name
March 15, 2012
An alleged 'death-knock' type incident in Queensland, where an agent was caught taking photos of a lady's house the day after the death of her husband, has drawn a strong rebuke from the Real Estate Institute of Queensland (REIQ).
The alleged incident, which was reported on ABC Radio Brisbane, involved the claim that the information about the death came from within the hospital where the man passed away. ABC Radio Brisbane breakfast host Spencer Howson said the lady in question – Gail Thomsom – sent him a letter about the in...
How the Market Changes
March 15, 2012
Up until the 10th of this month, our office had put under contract 16 properties, there is a buzz in the air that the property market is looking a little more positive in Cairns.
Although last weekend we also had a lot of rain during the open for inspection times and the numbers were very low. That’s the good thing about real estate it conditions can change in an instant. Some people don’t believe me when I say that it seems to change nearly day to day. We all noticed that t...
Advance Cairns details five key wishes ahead of Queensland state election
March 8, 2012
THE Far North's peak economic body is making it clear to state election candidates what needs to be done to help bring resilience to the region's troubled economy. Advance Cairns has handed over a five-point wish list to local candidates, identifying increased air services, trade with Papua New Guinea, public sector jobs, the defence force and the marine industry as top economic priorities
The organisation says hundreds of millions of dollars and countless jobs would continue to be lost in the Far North unless action was taken by the next state government to seize emerging opportunities. Chief executive Stewart Christie said both major parties had made some promising announcements on ...
Please Return My Call..........
March 7, 2012
Often you hear about real estate agents that don’t return phone calls. This is not directed at anyone in particular, but more often than not buyers are the ones that don’t return phone calls.
This is a problem that upon talking to other agents in and out of our office, seems to be becoming more common place. Take for example setting up a private inspection on a property, you ring the owners and see if the time that the buyer has picked is suitable for them, they agree, then you ring or t...
Agents Feel The Brunt Of The Economy
March 7, 2012
The RBA has starkly highlighted a dramatic drop in property sales turnover as a key occurrence when it comes to recent economic structural change.
“In the early 2000s, when the property boom was in full swing and investors were busy buying properties to rent out, around one in 12 dwellings in Australia was changing hands each year,” RBA deputy governor Philip Lowe said. “Today, the rate of turnover is only about half of this, with around one ...
Cairns convention centre revamp brings in dollars
March 7, 2012
MORE than 12,000 delegates attending 22 conferences at the Cairns Convention Centre will inject $65 million into the region's economy this year.
Centre general manager Ross Steele said after the completion of a $6.3 million refurbishment at the end of next month, there would be 22 conferences, including 13 international, during the next six months. He said one of the larger conferences would be the International Coral Reef Symposium in July ...
Cairns to get new $85m shopping centre
March 7, 2012
A NEW $85 million shopping centre, including a full size Woolworths supermarket, is to be built in the heart of Cairns. The 17,000 sq m Central Park Market will be built in Spence St, opposite Cairns Central shopping centre, on vacant land behind the city’s police station and courthouse.
A consortium of three leading property developers – the HS Vision Group, the Gasparin Group and MV Design – expect to start construction of the centre early next year. HS Vision director and chief executive officer Rose-Marie Dash said a national construction company based in Cairns would be chosen ...
John McGrath Says The Market Is Improving
March 5, 2012
We’re in a state of flux with ongoing uncertainty over the European debt crisis, job losses here at home and the banks signalling that the days of routinely following the Reserve Bank’s moves on interest rates may be over.
We are seeing buying enquiry up significantly. The under $1M market is still the strongest segment but there’s new interest up to $2M and even beyond in Sydney and Melbourne where higher end buyers weren’t around as much in 2011. While it’s too early to tell whether this new enquiry will translate ...
Prices Look Like They Are Improving
February 23, 2012
FROM Shane's Watchin' Cairns Enewsletter. Fill the form out to subscribe to Watchin' Cairns. I have noticed over the years that the lead up to an election some how puts a majority of the buyers off. For what reason I am not sure,
the charge of government doesn’t really affect buyers or sellers of residential property, unless they make some announcement about changing stamp duties on the day they get elected, one has said “we vow to reinstate the principal place of residence concessional rate for stamp duty”. Although when an...
Cairns Days On Market Low Compared To Other Areas
February 23, 2012
As the housing market has transitioned out of a growth cycle and hit rock bottom in many regions, vendors have found it increasingly difficult to sell their properties. Subsequently, the average time on the market has risen in many areas, the RP Data report stated.
The report looked at council areas across the capital cities and regional markets that have recorded the largest increase in their average time on the market over the 12 months to October 2011. Across the capital city markets, the premium housing suburb of Mosman Park on the shores of the Swan Rive...
RBA Says House Prices Stabilising
February 23, 2012
The RBA has revealed that stabilising house prices were a factor in its surprise decision to keep the official cash interest rate on hold this month.
Recently released minutes from the monetary policy meeting of the Reserve Bank Board reveal a generally upbeat assessment of the challenges facing the Australian economy, including the observation that housing prices showed some stabilisation around the end of 2011, “after having declined for most o...
Cairns positions itself as hub for fly-in/fly-out mine workers
February 23, 2012
CAIRNS is being showcased as a one-stop shop for the multi-billion dollar fly-in/fly-out mining workforce sector. Central to this is Cairns becoming the home of a federally-funded FIFO centre of excellence. The proposal was outlined by Advance Cairns in a submission to yesterday’s hearing of the House of Representatives Standing Committee on Regional Australia into the use of FIFO and drive-in/drive-out workforce practices.
Advance Cairns chief executive officer Stewart Christie told the hearing that Cairns, which was the first city to employ a FIFO co-ordinator, was ideally placed to "co-ordinate, measure, assess and share the experiences gained in this region with other areas across Australia, who are just beginning ...
Infamous Snowtown Bank For Sale
February 20, 2012
The infamous Snowtown bank has been listed for sale. Convicted murderers John Justin Bunting and Robert Joe Wagner used the former bank's vault to store their victims’ bodies in barrels in 1999. The bank has more recently been used to shoot scenes for the film Snowtown.
The infamous Snowtown bank has been listed for sale. Hale Real Estate director Nigel Christie says the Snowtown property has a $200,000 price guide. It’s located about 150 kilometres north of Adelaide. Convicted murderers John Justin Bunting and Robert Joe Wagner used the former bank's vault to st...
Whew…. What a week.
February 16, 2012
One of my opens I got over 49 groups through it. The strange thing is not one offer, although a couple of people are thinking about putting an offer in, they haven’t move forward yet.
I also received an award at a recent Cairns Property Office awards function for the “best lister for 2011”. This means I listed more properties onto the market than anyone else in the office. Also we have started a rental department at our Redlynch Office, This is being run by Samantha and Debra, a...
Far North building industry on slow road to recovery
February 16, 2012
FAR Northern building approvals continue to rise but industry leaders say there is still a long road to recovery. Residential approvals rose 45 per cent to 77 in December 2011, up from 54 for the same period in 2010, according to the Australian Bureau of Statistics.
The total number of houses approved in December in the Far North included 14 on the Cassowary Coast, 15 on the Tableland, 11 at Weipa, three at Port Douglas and 26 in Cairns. Resource boom towns continued to lead the way in Queensland for building approvals with Mackay recording 128 and 127 for the ...
Shane Trimby Wins "Top Lister Of The Year" Award
February 14, 2012
Shane was awarded the "Top Lister" award at a recent Cairns Property Office function.
This award is for the agent that puts the most properties on the market. Recently Cairns Property Office achieved the Number position in the Redlynch area on Realestate.com.au for both SALES and LISTED PROPERTIES.....
Less "Red Tape" On Contracts
February 14, 2012
PLANS to fix the "dog's breakfast" of residential real estate contracts could mean more information for buyers. The State Government has announced plans to simplify the selling and buying process by reducing the number of forms homeowners need, from as many as six, to one contract.
Current requirements in a house contract may include a sustainability declaration, a pool safety declaration, a warning statement, an information sheet, disclosure statement and, of course, the contract of sale. The Government is looking at ditching the sustainability declaration and including floo...
Agent Numbers Are Declining
February 14, 2012
Queensland and Western Australian estate agent numbers have slumped as a consequence of a nationwide drop in transaction volumes and property prices.
Last year’s volumes were about 13% lower than volumes in 2010 across Australia, according to RP Data head of research Tim Lawless. The figure was 26% lower than 2009 and 33% lower than the recent highs of 2007. “The real estate industry is doing it tough,” Lawless concludes. David Airey, presiden...
Redlynch Central Expansion On Hold
February 10, 2012
APPEALS against the $15 million expansion of the Redlynch Central shopping centre will delay its construction by up to two years and put 350 jobs on hold.
The owners of the Cairns Central and Smithfield shopping centres have lodged appeals in the Planning and Environmental Court against the Cairns Regional Council’s approval of the centre’s extension. The delay has frustrated the Marino family who were hoping to start construction later this year. "Th...
Facts About The Banks
February 9, 2012
Remember before the great GFC, we have a lot of little “banks” willing to fight for your business, they have since closed or have been purchased by one of the big four banks, did the ACCC look the other way?
The big four banks have got it all over us…… They are too big to fail and there is too little of them to be competitive to us customers. Remember before the great GFC, we have a lot of little “banks” willing to fight for your business, they have since closed or have been purchased by one of the big ...
THE Carlyle Group Is Getting Into Australia
February 9, 2012
THE Carlyle Group is getting a foot on the Aussie property ladder.
The private equity firm and Leighton Holdings’s 100 per cent owned Leighton Properties -- through a joint venture -- acquired a 3752 square metre site from the Brisbane Housing Company for its Mosaic project. The $150 million Mosaic precinct, in Brisbane’s Fortitutde Valley, will feature an 18-stor...
Our Banks Are Too Big
February 9, 2012
Before the global financial crisis, Australia had a diverse and highly competitive financial system. The four major banks went head-to-head with the likes of St George, Bankwest, Bendigo Bank, Aussie, Adelaide Bank, RAMS, Wizard and Challenger.
Today every single one of these entities has disappeared as a genuinely independent concern, wholly or partly acquired by the majors (with competition concerns waived by the ACCC), or merged with one another. Before the crisis, Australia's banks were not explicitly government-backed. And taxpayers ...
Rate Cuts Are Working
February 6, 2012
Experts are hopeful that interest cuts will restore faith to a cautious market in 2012.
This weekend marks the start of Sydney's auction season, and the new property year has brought with it a wave of cautious optimism from both buyers and sellers. About 80 auctions are scheduled across the city, compared with 118 for the equivalent weekend last year. The drop in early auction listing...
New Rules To Protect Kids On Balconies
February 3, 2012
Apartments and multi-storey homes are about to get a little safer for children thanks to a rule change around windows in new buildings.
The Australian Building Codes Board has ruled that all windows in new homes and apartments that are more than two metres off the ground must be either fitted with window locks that stop the window being opened more than 125mm (12.5 cm), or must have reinforced screens to prevent children from fallin...
The Volume Is Going UP
February 2, 2012
Well, glad to say that the numbers are up, I have been talking to a couple of agents in our office and not in our office as well and they are saying the same thing…….. the volume has increased.
What does that statement mean? Well the numbers of buyers has increased, but not the prices. The volume of properties being sold is increasing; this is a “coal face” statement, from talking to other agents, valuers and also building and pest inspectors. They are both saying that they are getting bus...
House prices may have bottomed out
February 2, 2012
Australia's house prices fell in every quarter last year but they may have hit bottom, new figures show.
Australia's house prices fell in every quarter last year but they may have hit bottom, new figures show. Housing data released by RP Data-Rismark today shows that the rate of decline in house prices across the nation slowed towards the end of last year. "The December quarter was the year's smalles...
Insurers have defended price rises
January 31, 2012
Insurers have defended price rises for residential strata title insurance in north Queensland at a federal parliamentary inquiry.
Insurers have defended price rises for residential strata title insurance in north Queensland at a federal parliamentary inquiry. A House of Representatives Committee began hearing evidence in Cairns yesterday and will head to Townsville tomorrow. It is due to report in April on what has led to si...
Building to brighter days in FNQ
January 31, 2012
THE housing industry continues to gain confidence with a spike in building approvals as the Far North recorded the second highest approval increase in the state.
THE housing industry continues to gain confidence with a spike in building approvals as the Far North recorded the second highest approval increase in the state. The number of building approvals, which includes Cardwell, the Tableland, Cairns and the Torres Strait, rose 30 per cent to 73 in November...
Experts Slam Property Crash Forecast
January 31, 2012
Australian property commentators have lined up to slam predictions made by a US real estate analyst that property prices here are set to dive by as much as 60%.
Australian property commentators have lined up to slam predictions made by a US real estate analyst that property prices here are set to dive by as much as 60%. Jordan Wirsz, who has been promoting a webinar on Australian property, has predicted that rising interest rates, peaking commodity prices ...
Mark Bouris tips three rate cuts in 2012
January 27, 2012
The Reserve Bank is likely to cut interest rates a further three times this year, Yellow Brick Road executive chairman Mark Bouris has forecast.
The Reserve Bank is likely to cut interest rates a further three times this year, Yellow Brick Road executive chairman Mark Bouris has forecast. Three rate cuts of 25 basis points each would take the cash rate to 3.5%, with the RBA’s monetary policy committee next scheduled to meet on February 7.
Strong January sales point to housing rebound
January 24, 2012
Although This story cover Sydney we are seeing the same in Cairns I have written three contracts so far this month, there are buyers around, I have spoken to other agents in Cairns and we feel that there is good volumes but the prices are not going up. It is better than this time last year that's for sure. HOME buyers in Sydney's east and inner west are out in force, with agents reporting a surprising number of early sales. Traditionally January is a quiet month for sales, but some believe the two interest rate cuts in November and December could be encouraging buyers.
Along with many of last year's unsold properties finding buyers, there have been cases of freshly listed homes selling within a week. ''We have rarely seen so many truly qualified and cashed-up buyers,'' said Di Jones director Gary Sands. His agency has recorded six sales this year already, with se...
Finance approvals increase along with values in November…
January 20, 2012
The volume of housing finance commitments to owner occupiers increased for the eighth consecutive month in November, up 1.4% over the month and 4.6% over the year.
Of course, from a housing market perspective it is important to separate owner occupier commitments for refinances and non-refinances. Refinances create business for banks and mortgage brokers whereas for real estate agents and those in the construction industry non-refinance commitments are most i...
Three Reasons Why We Have No Property Bubble
January 20, 2012
There is little chance of a housing market crash this year, says HSBC chief economist Paul Bloxham as part of his macro-economic outlook for 2012.
Bloxham says there are three main reasons why prices won’t plummet: the majority of households can service their debt; the undersupply of housing is growing at a greater rate than the decline in population growth; and there is strong demand for housing close to major urban areas.
Boost for Cairns apartment industry
January 20, 2012
A BOUTIQUE accommodation house at North Cairns is undergoing a $3 million expansion and refurbishment. The new-look Cairns Queenslander Apartments and Restaurant in Digger St are due to open in mid May.
Company director Mike Spaulding said it was a vote of confidence in the tourism industry and the region. "I’m putting my money where my mouth is," he said. "There aren’t many accommodation properties or tourism businesses in the Cairns city area taking the initiative to redevelop in our current ec...
NSW Tenants' groups push for renters to have a greater say
January 20, 2012
TENANTS should be allowed to attend owners' corporation meetings to give renters a much greater say in how their strata buildings are managed and maintained, tenants' groups and strata experts have said.
There should also be changes to the legislation to stop the misuse of bylaws, such as banning pets from buildings, as part of the state government's review of the strata laws, a leading strata law expert, Cathy Sherry, said.
Vet pleads for landlords to allow pets
January 17, 2012
Brisbane vet Michael O'Donoghue has seen too many people have to give up, or put down, their pets because they could not find a rental property that welcomed animals.
Brisbane vet Michael O'Donoghue has seen too many people have to give up, or put down, their pets because they could not find a rental property that welcomed animals. "It's very heart-breaking, people euthanising their beloved pet because they can't find accommodation," he said. The People and Pet...
Runaway Goat Hoofs It 20km To Redlynch
January 16, 2012
An escaped goat that was destined for the Christmas dinner plate has been caught after spending two weeks on the run trotting across 20km of rainforest from Kuranda to Redlynch. Cairns Regional Council workers spent two hours trying to corner the gruff goat at a Redlynch property yesterday where it ...
Strata Title Insurance Inquiry Meetings
January 16, 2012
The House of Representatives Standing Committee on Social Policy and Legal Affairs.
The House of Representatives Standing Committee on Social Policy and Legal Affairs will be holding the following public hearings relating to its inquiry into the affordability of residential strata title insurance. Monday 30 January 2012, 9am-12pm, Port Douglas Community Hall, Mowbray Street, Port ...
How Housing Bubbles are Triggered
November 2, 2011
The problem comes about when Local Governments in particular lose control of their costs. It plays out in three steps
The commercial / industrial sector is the first to be “hit”, as it is more politically feasible for Local Authorities to overcharge this sector. It is not uncommon now for around a quarter of Local Authorities actual costs being attributable to the commercial / industrial sector, but the rates take ...
The IMF Warns Of Doom Ahead
September 21, 2011
THE International Monetary Fund has slashed its economic forecasts for Australia, warning of a new global recession that would hit commodity prices and drive millions worldwide into unemployment.
Hours before the fund published its unexpectedly gloomy update in Washington, the Reserve Bank of Australia released a statement expressing concern about the global outlook and opening the way for interest rate cuts should things deteriorate.
Central banks signal: Australia is a safe haven
September 21, 2011
While Europe and Washington fiddle around fires of varying intensity, foreign central banks buying increasing amounts of commonwealth government bonds are sending a message: Australia is a safe haven.
The Reserve Bank board minutes fingered foreign central bank buying as a key factor in plunging commonwealth bond yields, but that was only part of a message of cautious confidence the RBA is seeking to impart.