Employment Rate Improving

Recently released ABS figures showed that the Far Northern unemployment rate fell to 10.4 per cent in April; down from 12.4 per cent in March.

The national unemployment rate also dropped to 5.5 per cent from 5.7 per cent throughout the same period.

Far Northern employment coordinator Peter Doutre attributed the Cairns region’s drop in unemployment to factors including new flights to the city which started last month.

“I’m optimistic it’s the start of the trend that could spell improving times for our Cairns economy,” Mr Doutre said.

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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

Steady Activity Expected in Local Property Markets

New figures released from Herron Todd White indicate that rents are likely to remain stable throughout the remainder of 2010.

Cairns overall rental vacancy rate now stands at 4.6%; about double that of a two years ago before the global financial crisis.

Also in HTW's CairnsWatch report, residential property sales were reported to have slowed as the last of the effects of government first home buyer grants wore off.

"While there is a lot more confidence in the market than what there was 18 months ago, the difference is that interest rates are now in a rising cycle,’’ he said.

"For this reason we expect the Cairns real estate market to only build slowly in activity during 2010.’’

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$35m Smithfield Water Park to Go Ahead

An agreement between proposed 'Adventure Waters' water theme park and Mulgrave Central Mill was reached yesterday which will see construction of the $35 million dollar development begin in July.

Mulgrave Central Mill's appeal against the development with concerns for traffic and flooding was all that stood in front of construction beginning this year.

The development will employ over 300 people in the construction phase, and another 200 in it's general operations.

Cairns Deputy Mayor Margaret Cochrane, whose division includes the water park site, said it was "fabulous news".

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Cairns Linked to Fast-Growing Taiwanese Tourism

Jetstar has announced it will operate a daily flight from Taipei to Osaka with connections to Cairns.

Airline communications head Simon Westaway said the connections had “great potential” for the Far North’s tourism industry. He said it would also make it easier for visitors from China to get to Cairns.

Taiwan is Australia’s 14th largest inbound market which grew 18 per cent last year, the second fastest among the top 20 inbound markets, with just under 100,000 visitors.

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