Cairns real estate: Unit market booming in Far North says Re/Max owner Ray Murphy and Champions in Real Estate Andrew Thornton
There has been a strong interest in the unit market with buyers swapping out homes for an easier lifestyle. FIND OUT WHAT’S AVAILABLE
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THERE has been a strong interest in the unit market with buyers swapping out homes for an easier lifestyle.
RE/MAX Cairns owner Ray Murphy said there was heaps of demand for units in the city.
“It’s certainly affordable and the lifestyle is what people are attracted to. It’s easier living in unit complexes than a home,” he said.
“Complexes such as Cairns One have different facilities.
“There are a number of pools so people like that, people are doing quite a lot of travelling at the moment so a unit is best with low maintenance.”
Mr Murphy said there was a huge demand for stock in the CBD and buyers were prepared to pay up to $1m.
“There’s been a demand with the unit market which is pushing the prices up but they are still affordable as compared to the housing market.”
One property in a prime location is Unit 703, 702/1 of the Harbour Lights complex in Marlin Parade which is one bedroom, one bathroom with an asking price in the mid to high $400,000s.
Cairns real estate: Cairns City Harbour Lights apartment sells for over $4m
Just like many of the sought after apartments it has an open plan living area, modern kitchen and ducted airconditioning.
Mr Murphy said these apartments were highly prized by investors as there is a lot of people renting in the city.
“We’ve just leased a property in Trilogy on the Esplanade,” he said.
“That rented within a matter of a week.”
Champions in Real Estate sales advisor Andrew Thornton said there was one range that had high demand.
“I am seeing strong interest from the $200,000 up to $400,000 range which are selling quite quickly,” he said.
“The high end market is selling quickly. But the high end is more geared towards locals.”
Mr Thornton said the areas proving popular were Parramatta Park, Cairns North and the Northern Beaches.
“Parramatta Park and Cairns North has been popular because of its proximity to city,” he said.
“As an investment but also to live in, it is a great location.
“The beaches has always been popular among the southern investors but with a shortage of good stock locals are not trying to get into those areas.”
Mr Thornton said this has been a real shift since late last year.
“We are seeing a strong interest from local buyers, coming into unit market. Traditionally it was investors from down south.
“They are still in the mix but (it’s) nice to see some locals,” he said.
UNITS ON THE MARKET:
– Two bedroom, two bathroom with two carparks apartment at 42/219-225 Abbott Street, Cairns North is looking for offers over $500,000
– Three bedroom, two bathroom with one carpark apartment at 15/1804 Captain Cook Highway, Clifton Beach. Offers over $339,000
– Two bedroom, two bathroom with one carpark at 31/249 Esplanade, Cairns North. Going for $490,000
– One bedroom, one bathroom apartment at U703, 702/1 Marlin Parade, Cairns City. Offers between the mid to high $400,000
– Two bedroom, two bathroom with one carpark at 7/1 Marlin Parade, Cairns City. Offers by private inspection only.
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Originally published as Cairns real estate: Unit market booming in Far North says Re/Max owner Ray Murphy and Champions in Real Estate Andrew Thornton
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