CHINA: CAIRNS’ FASTEST GROWING MARKET

China has now become the Tropical Norths’ fourth largest source for international visitors and is now the fastest growing segment with an average annual growth of 62%.

Tourism Tropical North Queensland chief executive officer Rob Giason said the growth in visitors from the region of China is "very encouraging". The Chinese market shows interest in nature tourism and as such Cairns is seen as one of the most attractive destinations within Australia.

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Cairns international airport passenger numbers are currently rising strongly as a result of the extra flights which commenced in March/April 2010, and have regained more than half the drop that occurred at the end of 2008. This is an excellent result for the region which has experienced slow economic recovery since the beginning of the GFC due to its high dependence on tourism conditions.

Cairns median house prices have always shown distinct cycles relative to international and domestic tourism conditions. Setbacks for the industry have included the threat of cyclones, and more notably, the Pilot’s Strike in 1989 during which median property values within the region saw a sharp decline of almost 20%.

The Global Financial Crisis coupled with the Bird and Swine Flu epidemics during 2008 were the cause for the most recent downturn in tourism arrivals, however the evidence is now showing that stronger tourist numbers this season are generating a significant improvement in industry conditions compared to last year.

With an increase in international arrivals and tourist expenditure within the region, real estate markets in Cairns can hope for improved housing affordability and foreign investment in turn placing upward pressure on median values once again.

Peter Musso - Ray White Cairns Beaches - Property agent selling real estate in Trinity Beach, Kewarra Beach, Clifton Beach, Palm Cove, Trinity Park, Smithfield, Yorkeys Knob, Holloways Beach, Machans Beach

Images of $446 Million Upgrade to Cairns Hospital Revealed

Images of the $446 million dollar redevelopment scheduled for completion in 2014 were released recently.

For doctors and patients at Cairns Base Hospital, the exclusively modern facility can't come soon enough. Although the real estate market in Cairns will not be directly affected by a hospital upgrade, this in addition to any other government funded projects in the region will assist in making the region more appealing to those looking to relocate to Cairns and surrounds.

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Peter Musso - Ray White Cairns Beaches - Property agent selling real estate in Trinity Beach, Kewarra Beach, Clifton Beach, Palm Cove, Trinity Park, Smithfield, Yorkeys Knob, Holloways Beach, Machans Beach

JCU's Bid to Triple Student Numbers

James Cook University has revealed plans to triple the size of its Cairns campus to 10,000 students in 15 years after record high enrolments.

Business leaders have welcomed the goal and said the university will be a major driver for the region’s economy and will help retain and attract professionals. The University’s value to the Cairns economy is already $86 million.

About $100 million worth of investment was on the way or soon to start, with designs for the $25 million signature Cairns Institute building to be shortlisted soon.
Cairns Chamber of Commerce president Jeremy Blockey said the university had come “an awful long way” and further expansion would fuel jobs such as in construction for accommodation.

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Peter Musso - Ray White Cairns Beaches - Property agent selling real estate in Trinity Beach, Kewarra Beach, Clifton Beach, Palm Cove, Trinity Park, Smithfield, Yorkeys Knob, Holloways Beach, Machans Beach

Jetstar Invests a Further $100m in Region

Low-cost carrier Jetstar has backed its confidence in Cairns by investing another $100 million in the destination with an extra 25 new weekly domestic flights, an extra 460,200 seats a year to Cairns.

With the reinstatement of services to western Japan, future direct flights to Auckland next year and more weekly services to Perth, Adelaide, Melbourne and Sydney earlier this year the airline has also revealed that it will be targeting flights to China.

They also come as Singapore Airlines subsidiary Tiger Airways starts daily late night flights between Cairns and Melbourne next month, Cathay Pacific adding daily flights to Hong Kong and QantasLink starting direct flights to Port Moresby.

The Cairns Post - 26th August 2010

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Peter Musso - Ray White Cairns Beaches - Property agent selling real estate in Trinity Beach, Kewarra Beach, Clifton Beach, Palm Cove, Trinity Park, Smithfield, Yorkeys Knob, Holloways Beach, Machans Beach