Perfect time to get your foot in the property market before prices rise
A family-friendly suburb on the Cairns northern beaches has rocketed up the list of areas poised for major price growth and potential buyers should take note.
A FAMILY-FRIENDLY suburb on the Cairns northern beaches has rocketed up the list of areas poised for major price growth and potential buyers should take note.
Trinity Beach has come in fifth out of the top 20 suburbs in Queensland to watch as prices are predicted to rise according to the Well Home Loans Green Shoots quarterly report.
In the past year, houses have been selling fast in the northern beaches suburbs with southern buyers considering their lifestyle options during the pandemic.
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REIQ Far North zone chairman Tom Quaid said Trinity Beach was growing in popularity.
“A few factors combine here to make Trinity Beach one to watch,” he said.
“One, it’s been one of the strongest markets for houses in the past 12 months, with detached houses seeing significant price increases all the way through the range, from your fixer-uppers right to beachfront homes.’
This price hike has not yet reached units at Trinity Beach.
“As people latch on to an area but find themselves priced out of houses, they will often look to units,” he said.
According to the report the median prices for a unit at Trinity Beach is an affordable $265,000.
“The second factor is the unit market in Trinity is remains quite affordable for those looking to relocate to the northern beaches – cheaper than Palm Cove for the most part, and with more choice than is typically found in either Clifton Beach or Kewarra Beach,” Mr Quaid said.
Unit supply at Trinity Beach had fallen 34.5 per cent and the properties were being snapped up quickly.
It is one of the reasons that Cairns father-of-one Samuel Hartvigsen ended up buying his first apartment in the nearby suburb of Yorkeys Knob.
“Proximity to the beach and multiple parks in the area plus still it’s close to Palm Cove and town,” Mr Hartvigsen said.
Another selling point was the low maintenance lifestyle of apartment living.
“We will be able to spend less time doing things like cleaning a pool and mowing,” Mr Hartvigsen said.
Cairns Beaches Realty principal director David Jaunzems said Trinity Beach offered the ideal tropical lifestyle.
“Trinity Beach has always been popular as a holiday destination with its family-friendly beachfront, cafes and restaurants and, now with people looking to escape cities, it is high on their shopping list,” he said.
Interest in beachfront units had come from a wide array of people, Mr Jaunzems said.
“We are currently seeing a mix of buyers with many looking to occupy, but also investors are starting to snap them up which is no surprise with the great rental returns on offer.
“We currently have a dual key unit on Trinity Beach road for sale achieving up to a 9 per cent return,” he said.
It will be interesting to see what other Cairns suburbs are highlighted in the months to come, Mr Quaid said.
Originally published as Perfect time to get your foot in the property market before prices rise
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