And the three hottest suburbs in Cairns real estate are...
One Stop Property’s Nickoli Obersky considers himself lucky. He gets to work with people as they’re making one of the biggest decisions of their lives, and he gets to do it in some of the best-selling suburbs in Cairns.
Data from real estate websites like Domain and Real Estate.com.au suggests Redlynch, Bentley Park and Smithfield are leading the way when it comes to sales volumes in the past couple of years. Nickoli specialises in Redlynch and Bentley Park, selling hundreds of homes in those suburbs (among others) over the past eight years.
“We’re continuing to see positive results in Redlynch sub-divisions like The Pocket, and inquiries on land and house packages there have never wavered,” Nickoli said.
“We’re getting a good response and good prices at Springbrook at Redlynch and first home buys continue to drive sales at Bentley Park.
“In the $420,000 to $650,000 range there’s solid turnover, and there’s no secret Smithfield, Redlynch and Bentley Park have been leading suburbs over the last 8 to 10 quarters.”
While the regulatory handbrake was pulled on the investor market by a Federal Government keen to cool down capital city markets, Nickoli says the desired result has been achieved. That means the banks should start lending again.
“The Australian Prudential Regulation Authority placed limits on interest-only loans to just 30% of new residential mortgage loans, but with that target in sight we can expect lending to resume at a higher level, which will be great news for the Cairns investor market.”