Page 20 - Tropic Magazine Issue 25

TROPIC • REAL ESTATE

Slatyer’s view

REAL ESTATE WRAP
Nicholas Slatyer from Belle
Property Cairns with his take on
local real estate.

FY20 didn’t quite pan out the way we
would have hoped but as a business,
we have nothing to complain about. By
February we had already bettered our
result from the previous year. We could
dwell on “what could have been”, but as
is often the case with a small business,
we need to be prepared for obstacles - 1
and this last five months has certainly
provided some pretty significant ones. the number of properties for sale across know how else to name it). Mardi is
Market conditions continue to be Cairns. We started monitoring the an experienced agent both in Cairns
unusual. It seems there are a few, quite numbers on March 25th, and as at July and Port Douglas, where she worked
clear, buyer profiles in the market. Most 20th there are almost 100 less properties for Sotheby’s International. She joins
obviously - first home buyers who have for sale, and even more significantly 128 Renae, Ashlie and I to help us provide
stable employment, along with “cashed less available for rent. The rental number even better service and help us do more
up” purchasers that need somewhere actually peaked some 300 properties and do it faster. In the few weeks she
to live. We had a run of sales that were higher in May! has been with us we can already feel
very quick (to sell, meet conditions and the difference of having an extra pair of
settle), including a piece of beachfront hands.
land at $1.165 million (a record price). Having Mardi on board highlighted
The land has sub-division approval an interesting fact… we now have 17
which makes it more valuable, but on We are facing in our team and of those just four are
a direct comparison “price per m2” the market conditions men! I don’t how or why that happened,
result still doesn’t surpass a 600m2 block but I do know that I am feeling out-
we sold in 2018 for $975,000 ($1,600/m2 that we have never numbered.
vs $709/m2). experienced before For the second time in my nearly 20
I think anyone who is a bit 50/50 on years in Cairns (the first being the GFC),
buying or selling is in a holding pattern Nicholas Slatyer, we are facing market conditions that we
Belle Property
at the moment, and we are seeing that Cairns have never experienced before. It may
translate into a significant reduction in seem obvious, but at times like these
We have also been watching the number you need advice that you can rely on and
of buyers who have been investors trust. Do not hesitate to contact me if
versus owner-occupiers and the you want to discuss any aspect of the
numbers are pretty astounding. Since market, my phone is always on.
January this year, we have sold just
three properties to a buyer that was Chat to Nicholas Slatyer
not intending to occupy. Now before
you ask if we sell in investor markets; on 0409 00 22 33 or
we do more transactions in Palm Cove belleproperty.com/cairns
and Cairns City / Cairns North than any
other agency - markets expected to be 1. 74 Kewarra Street, Kewarra Beach
dominated by investors. 2. Mardi Rae has joined Belle Property Cairns
This month we welcomed Mardi Rae
2 to “Team Slatyer” (cringe, but I don’t

20 • Tropic • Issue 25