Victorian-based investors in North Queensland property have been reassured that the residential real estate market in the Cairns region “will come back”.Ray White Cairns Beaches Director Paul Stirling has held seminars in Melbourne this week with existing property owner clients to update them on the current state of the market.
Mr Stirling said Victorian investors were crucial to the long term future of residential property in North Queensland as they made up approximately 30 per cent of the investor market.
“Our meetings here in Melbourne with North Queensland property investors have been well received,” he said. “We have held three presentations with mostly existing investors. We provided them with facts and figures on where the market was from 1990, its growth patterns since then, where it is now on the ‘Property Clock’ and what the current economic indicators are pointing to in the near future.
“Many of these people are long term investors who have owned property in the Cairns region for between three and 10 years. They appreciated that we made a 4,000km journey to meet them face to face and bring them up to speed. Favourable comments were received regarding the content and factual nature of the seminar information – in particular the figures on vacancy factors in a rental market that is beginning to tighten from a balanced status."
“Our advice is that we feel the market has bottomed and there is growing confidence that the market will come back. “We’ve just given them the clear cut information to make a decision they’re comfortable with. If you don’t have to sell then don’t sell, unless you can use the yield for better purposes or investment elsewhere.”
Mr Stirling said he and the office’s business development manager Rachel Blok were breaking new ground by meeting with more than 60 investors during their Melbourne visit. “We held investor seminars last year in Perth and early next year we will be holding them in Sydney,” he said."
“It’s a good opportunity to provide an update on the residential market and information from a property management perspective to our long term investment property owners. But we also take the opportunity to meet potential new clients and we host a small function where owners can meet in a relaxed atmosphere.”
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
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