January 28, 2012

Cairns Post Articles - Jetstar & Virgin Ramp Up Flights

Within the past week the Cairns Post has reported on two major developments concerning the largest industry in Far North Queensland - Tourism. In relative terms, Tourism produces double the annual revenue turnover of agriculture, the second largest industry in the Far North (let me know if you might like further information regarding Cairns' industries via the 'Contact' page).

On April 1 Jetstar plans to add four extra flights from Melbourne per week to their schedule and Virgin Australia have followed with the announcement that they will be adding six extra flights from Brisbane per week to their own schedule.

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Ten extra domestic flights per week have the potential to add up to 100,000 visitors to Cairns each year. It is important to understand what this number of added arrivals means to the region - the graph opposite shows the number of tourism arrivals in Cairns throughout the past 10 years.

The trend level for domestic tourism arrivals in Cairns currently sits at approximately 260,000 visitors per year. That means that the new flights planned by major airlines within the past week have the potential to increase this number by more than almost 140%.

International arrivals remain on an unpredictable trend caused by unstable global economic conditions and the high Australian dollar making Cairns and Far North Queensland an expensive destination. Any improvement in tourist numbers however, either domestic or international, will be welcomed by local businesses in particular hospitality, accommodation and tour service operators.

Cairns Post report of Jetstars additional flights on Jan 24:
Jetstar adds extra Cairns to Melbourne flights

LOW-cost carrier Jetstar has added four more flights a week from Melbourne with the potential to bring an extra 37,440 passengers a year into Cairns.

The airline said with the extra four A320 flights a week there would now be 25 services from Melbourne.

The new flights are due to start on April 1.

The route is one of the fastest growing in Australia.

Last year, Jetstar passengers spent an estimated $112 million in the Far North.

The increased flights come as Jetstar bases its 13th A320 aircraft in Victoria.

Jetstar Group chief executive officer Bruce Buchanan said the additional capacity was part of the airline’s commitment to affordable domestic and overseas travel.


Report of Virgin Australia’s additional flights on Jan 27:
Extra Cairns flights, potential for extra 100,000 visitors

VIRGIN Australia is adding six extra flights between Cairns and Brisbane each week with the potential to bring more than 56,000 additional travellers a year to the Far North.

It follows Jetstar’s decision earlier this week to increase its services from Melbourne by four weekly flights.

The additional flights by the two airlines add nearly 100,000 seats a year from the southern capitals.

The extra Virgin return flights, from February 13, will be every day except Saturday, arriving at 1.20pm and departing for Brisbane at 1.50pm.

It takes the total number of Virgin Australia flights between Brisbane and Cairns each week to 80. The route is the 10th busiest in Australia with nearly 100,000 passengers a year.

Virgin says demand has sparked the extra flights.

Virgin Australia alliances, network and yield group executive Merren McArthur said the additional flights were part of an accelerated capacity growth plan for major corporate, resources sector and leisure routes.


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

January 24, 2012

Ray White Smithfield - New Cairns Beaches Agency


An agency-specific item however important news to local buyers and sellers of real estate nonetheless. Ray White Cairns Beaches will soon be opening a new ‘sister’ office at Smithfield, to be named Ray White Smithfield.

Centrally located within Cairns' northern beach suburbs close to the Smithfield Shopping Centre, the office will receive high exposure in a position on the Captain Cook Highway.

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Personally I am looking forward to further expanding our reach to buyers within the northern Cairns region and beyond but also providing sellers with a new and central port on the beaches for all real estate needs as a member of the largest real estate network in Australasia.

It is an exciting time of growth for our business and I cannot help getting enthusiastic about it all - feel free to give me a call at any time, even if you might simply appreciate a quick chat regarding local market activity.

Peter

0425 713 700
peter.musso@raywhite.com
www.petermusso.raywhite.com

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

January 14, 2012

Strata Title Insurance Under Parliamentary Review

Cairns Post Article - January 13, 2012
'Call to Action in Cairns Over Strata Insurance'

THE chairman of a parliamentary committee looking into the increasing costs of strata title insurance in Far North Queensland is urging the industry to make as many submissions as possible before the deadline on Monday.

The committee is investigating reports that insurance costs for units and apartments have risen by up to 800 per cent after cyclone Yasi.

It will examine if the Federal Government should intervene.

Committee chairman Graham Perrett said he encouraged input from more people.

"We’re particularly interested in hearing from any law firms or people who run body corporate enterprises and there is the capacity because I know it’s a small market in Cairns, Townsville, Mackay, Port Douglas for people to put an inquiry in and we can make it as confidential as possible," he said.

Mr Perrett’s office said there had been 40 submissions but it was important to have more.

A spokesman said some of the industry groups and associations had yet to file submissions.

"It is important there are as many as possible so everyone is heard and that an impact is made," he said.

A spokeswoman for Archers Body Corporate Management said there was concern that if there were not enough submissions, the inquiry would not get an accurate picture of the situation.

After community forums in November, the Federal Government announced the Natural Disaster Insurance Review would be expanded to incorporate the issue of rising strata insurance premiums in the region.

Archers director Andrew Staehr said the inquiry was broad-ranging and asked for submissions from the public. "It is essential that unit owners have their say to ensure that the outcomes of the inquiry reflect the current price situation," he said.

Submissions in Word or PDF format can be sent to spla.reps@aph.gov.au and must include full contact details.

Public hearings are scheduled for Port Douglas on January 30 at the Community Hall, Mowbray St, from 9am-noon and in Cairns at the Sebel Hotel, 17 Abbott St, from 2.30pm-5.30pm.


Read full article here


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

January 11, 2012

Will the resources sector continue to 'boom'?

Although not directly associated with the unparalleled increase in value of the mining industry seen in many parts of Australia, Cairns' property markets have experienced an indirect benefit through a growing number of workers seeking housing in the region as a fly-in fly-out basis for their employment in those mining areas.

In this way, Cairns is set to benefit as the closest Australian port to Papua New Guinea and it's significant mining prospects, including current operations in central and northern Queensland and even in areas of the Northern Territory.



Tim Lawless, head of the research and analytics team at RP Data, recently reported on information concerning the mining industry in Australia and it's future for growth relevant to national property markets asking the specific question of "Will the resources sector continue to boom?" Article text:

Well, the experts certainly think so.  If you have any interest in the resources sector, arguably the best source for information is the Bureau of Resources and Energy Economics (BREE).  Their most recent forecast for the 2011/12 financial year is a 15% increase in the value of Australian energy minerals and metals over the previous year, bringing the total value to over $200 billion which is a record for export earnings.

The number and value of advanced resources projects is at an all time high with most of these projects located in Queensland (31) and Western Australia (40). Additionally there are a further 404 ‘less advanced’ projects that are either undergoing feasibility study, awaiting approval or awaiting final investment decisions.  These include 14 proposed LNG developments which have the potential to add 75 million tones to Australia’s annual LNG production capacity.  BREE also point out that there are 15 less advanced iron ore projects which have an estimated capital expenditure of $1 billion or more... Read Full Blog Article Here

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