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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