Century 21 Port Douglas Blog

Back In Business – Port Douglas

What a beautiful day we are having today!

The sun is shining and the Coral Sea is so calm you would not even know the predicament we were in last Thursday.  The region sustained minor damage and fortunately no loss of life or property – we in Port Douglas dodged a bullet.

Restaurants and retailers re-opened on Sunday in Port Douglas and reef operations and Skyrail  started up again on Monday.

According to Calypso, it’s a fantastic day on the reef.  We have also received reports from operators in the Daintree that they have not sustained any structural damage to tour operations and will be ready to welcome visitors as soon as the ferry is running.

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Douglas Disaster Management Group well prepared for Cyclone Ita

The Douglas Local Disaster Management Group met this morning and is well
prepared for Tropical Cyclone Ita.
The DLDMG – made up of representatives from Douglas Shire Council,
Queensland Police, the State Emergency Service, Queensland Fire and
Rescue Service, the Queensland Ambulance Service, Emergency
Management Queensland and Tourism Port Douglas Daintree – has activated
preparations for the expected widespread heavy rainfall and possible
destructive winds in the Douglas Shire as a result of Cyclone Ita.
Cyclone Ita is presently located in the Coral Sea and tracking west towards
Cape Melville. The Bureau of Meteorology predicts Cyclone Ita will cross
landfall as a Category 4 system just south of Cape Melville late on Friday
evening.
The Douglas Local Government Area is the most southerly point of the current
Cyclone Watch and residents and visitors in the Douglas Shire should start
preparing for a cyclone event.
Chairperson of the DLDMG, Mayor Julia Leu, said preparations are in place to
respond as soon as possible to any incidents caused by the cyclone.
“A Disaster Coordination Centre will be established at Council’s Mossman
Administration Building if required so all the agencies will be able to
coordinate a response to the clean-up operation,” Mayor Leu said.
“Our community is very resilient when it comes to major weather events and
we will be offering all the support possible.
“North of the Daintree River we have Council staff and contractors on standby
with chainsaws and access to a backhoe to assist clearing the road if required
as soon as it is safe to do so.
“Our Mossman and Port Douglas crews are also ready to go with vegetation
road clearing activities if required.
“From 9am tomorrow morning the SES will be providing sandbags and a
supply of sand will be available at Council’s Mossman Administration Centre
and the Port Douglas Community Centre for anyone who wants to bring a
shovel.
“The SES has more than 300 tarps and plenty of rope for residents and
businesses in the event of any damage caused by the cyclone and anyone
who requires assistance from the SES can call 132 500.
“The SES also has two floadboats ready to go in the case of an emergency.”
The Port Douglas Storm Tide Shelter located at the Port Douglas State
School will only be activated when there is an imminent threat of storm tide
inundation as a result of a cyclone.
The Storm Tide Cyclone Shelter is only for people who are at immediate risk
of storm tide inundation and have been evacuated from their location by
police.
Residents and visitors are urged to check the Bureau of Meteorology website
www.bom.gov.au for regular updates of the anticipated cyclone path.
The Douglas Shire is expected to experience widespread significant rainfall
from Friday as a result of Cyclone Ita.
Council’s website www.douglas.qld.gov.au has a range of information to help
prepare for a cyclone as well as storm tide surge maps and Council’s
Facebook site will have regular updates.
Residents can contact Council anytime on 4099 9444 to report cyclone
damage or call the SES on 132 500 to request assistance for damaged
property.
The Douglas Local Disaster Management Group will meet again at 2pm
tomorrow and further updates will follow.
Greg McLean Communications and Events Officer
greg.mclean@douglas.qld.gov.au
4099 9443

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RBA DECISION LIKELY TO BOLSTER CONFIDENCE IN PROPERTY

Century 21, the largest real estate sales organisation in the Asia Pacific region, believes the Reserve Bank’s decision to leave the cash rate on hold at 2.5 per cent will bolster confidence in the Australian property market

 

“A ninth consecutive month of rates being on hold at 2.5 per cent is positive news for the Australian property market,” said Chairman and Owner of Century 21 Australasia, Charles Tarbey.

 

“This will likely ensure that interest in property increases over the coming months and may encourage more buyers to enter the market.”

 

The Reserve Bank reasoned that it was appropriate to leave the cash rate on hold in light of information suggesting slightly firmer consumer demand over the past summer and foreshadowing of a solid expansion in housing construction.

 

“Despite high auction clearance rates being reported in some capital cities, the Australian property market shouldn’t be regarded as in a ‘boom’ phase,” said Charles Tarbey.

 

“Century 21 believes that it would only be accurate to call the market as being in a ‘boom’ phase when auction clearance rates consistently hit 80 per cent nationally.

 

“With increasing numbers of properties entering the market we may be entering a new and more healthy phase where there is increased negotiation between buyers and sellers,” concluded Charles Tarbey.

 

Posted in Australia, Australian Home Buyers, Australian Homes, Banks, Century 21 Port Douglas, Interest Rates, Interest Rates Australia, Property, Property Investor, RBA, Real Estate | Leave a comment

Cooya Beach 10 minutes from Port Douglas

If investing in property is about having some insight as to what areas are going to see significant capital growth then the latest RP Data report on Coastal Australian locations has Cooya Beach firmly on the map.

Across the suburbs adjacent to the Great Barrier Reef, house values are generally much higher around Port Douglas than they are in Cairns. Port Douglas has the highest median house value across the region at $534,545 and Cooya Beach has the most affordable at $307,792.

I don’t think anyone needs a crystal ball to see where the future growth is going to be in FNQ.

COOYA BEACH - GEARED FOR GROWTH

Posted in Australia, Australian Home Buyers, Cairns, Century 21, Century 21 Port Douglas, Great Barrier Reef, Hot Spots, Housing Affordability, Port Douglas, Property Investor, Property Port Douglas, Property Tips, Property Values, Queensland, Real Estate, Rp Data | Tagged , , , , , | Leave a comment

Red Tape Disadvantaging 1st Home Buyers

Century 21, the largest real estate sales organisation in the Asia Pacific region, believes the regulatory burden placed on developers attempting to create new housing stock is disadvantaging first home buyers trying to enter the property market.

 

“Red and green tape is stifling developments across many parts of Australia which is reducing supply and making it more difficult for first homebuyers to access affordable housing,” said Charles Tarbey, Chairman and Owner of Century 21 Australasia.

 

“While regulations are necessary, they must be reasonable and balance different interests.

 

“First home buyers will continue to be at a disadvantage if this regulatory burden is not examined and reduced by the relevant legislative bodies,” said Charles Tarbey.

 

The recently released RP Data-Rismark’s Hedonic Home Value Index saw home values finish the 2013 calendar year 9.8 per cent higher, the largest calendar year increase in values since 2009.

 

The Housing Industry Association’s (HIA) analysis of data from the Australian Bureau of Statistics reveals that to house Australia’s forecast population of 29 million people in 2030, a considerably higher average build rate will be required than the historical average of the past 20 years.

 

According to the HIA, there has been no commensurate boost to the supply of new housing in line with these demographic changes and it is time for policy makers to acknowledge the imminent policy challenge that this situation poses.

 

Posted in Australia, Australian Home Buyers, Australian Homes, Banks, Century 21, Century 21 Port Douglas, First Home Buyers, Home Building, Home Loans, Property, Property Insurance, Property Investor, Property Management, Property Port Douglas, Property Tips | Tagged , , , , | Leave a comment

Market Is Not In A Boom

Century 21, the largest real estate sales organisation in the Asia Pacific region, believes recent speculation that the property market is in a boom phase is unfounded and the market could be seen more as in a recovery, and only in selected areas.
“Despite the combined capital city index recording its fastest rate of annual growth since October 2010, Sydney and Perth are the only markets where values now sit higher than they were at their previous peak,” said Chairman and Owner of Century 21 Australasia, Charles Tarbey.“Claims that the Australian property market is in a boom or a bubble will likely prove to be incorrect.”

The recently released RP Data-Rismark Hedonic Home Value Index results saw capital city dwelling values increase by 0.1 per cent during November and 8.3 per cent so far this year, slowing after a period of rapid growth.

“The recovery has been driven by sellers who are listing their properties at high prices and buyers who appear to be willing to meeting their marks,” said Charles Tarbey. “The recovery that the market has experienced over spring is just that – a recovery, not a boom,” concluded Charles Tarbey.
“In Port Douglas, the residential market, including houses, vacant land and units which can be owner occupied have been selling. Residential property that was previously sitting on the market for long periods of time has since been moving at a faster rate. The average time on the market for a house in Port Douglas was 320 days,  this statistic quickly changed in the later half of 2013 to 140 days.,” said Century 21 Port Douglas Franchise Owner Ian Johnson.
“Our conversations with Sellers have changed from “how to sell” to “how much will we get”, we are in the transition period from a buyer’s market to a seller’s market. If you are thinking about selling your Port Douglas residential property now is a good time, as we are bracing for a busy 2014.,” continued Century 21 Port Douglas Franchise Owner Ian Johnson.

Century 21 Port Douglas encourages potential buyers that are looking to purchase real estate to ensure they have obtained the appropriate professional property and finance advice before doing so.
With over 3,000 offices, Century 21 is the largest real estate sales organisation in the Asia Pacific region, a region vital to Australia’s continued economic success.

 

Posted in Australia, Australian Home Buyers, Australian Homes, Century 21, Century 21 Port Douglas, Port Douglas, Property, Property Investor, Property Port Douglas, Property Tips, Property Values, Propety Prices, Real Estate | Tagged , , , , , , , | Leave a comment

Benefits of Building a Granny Flat

Working in the building industry, I often see trends in home design come and go, yet one trend that has really caught my attention and offers a lot of benefits is building a granny flat.

 

The benefits of a granny flat are numerous, including providing accommodation for your extended family or for generating rental income. Building for accommodation can provide you with some much needed privacy and space, while renting the flat out will significantly assist and reduce the loan repayments on your property.

 

When building a granny flat, the primary requirement beyond building and planning regulations, is to ensure that there is sufficient space. The most common conversions that I have come across in the industry includes garages and garden sheds, which often become one or two bedroom units with bathrooms.

 

Granny flats can also provide a favourable return on investment, assisting in increasing the value of your property and pay off your mortgage faster.

 

I find the that granny flats are most popular option for singles and couples who don’t need a lot of space and are most likely under financial stress. I find young adults are also living at home loner and granny flats are a great option to provide extra space for them, and also a lifesaver for baby boomers who were hoping to empty their nests sometime soon.

 

If you are thinking of building a granny flat, there are regulations to abide by, particularly in relation to their size and where they can be built. You are generally free to build a granny flat in any area but it is essential to run this by your local council. It needs to be noted that you can only build one granny flat per block and these flats are generally not allowed to be built on a dual occupancy block. Also, you cannot subdivide plots in the process of constructing a granny flat.

 

Granny flats have a lot to offer, but if you are considering building a granny flat, I advise you seek information from your local council or from an accredited builder to ensure you pertain to regulations.

 

 

Source: Brad Trethowan, BuildBits.

 

 

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HOPE YOU DIDN’T MISS THE BOAT – THE YEAR THAT WAS 2013 – CENTURY 21 PORT DOUGLAS REAL ESTATE MARKET UPDATE

In late 2008 it was clear that the days of large volumes of sales in Port Douglas was over.
During the period 2009 – 2011 seller’s chased the Port Douglas property market down not knowing how far it would fall.

 

The volume of Mortgagee In Possession properties shocked even the most long standing real estate agents in town.
Buyers were thin on the ground and all types of properties were challenging to sell.
Sellers and Buyers rarely saw “eye to eye” during this period. The Port Douglas property market experienced 30% up to 50% decline across the marketplace.

The high Australian Dollar and the dramatic decline in international and domestic tourists immediately impacted all sectors of the Port Douglas economy. Property development came to a standstill and an exodus of the workforce saw rental vacancy levels skyrocket and weekly rents falling.
The Port Douglas property market in 2012 was stable. We knew prices had pretty much bottomed out. Repossession sales declined and we generally knew where the market was at. Buyers and Sellers were almost on the same page. We saw a slight increase in buyer activity levels.

Clients who had just sold knew they could re-enter the market and buy back into the same market they had just sold in.
The first half of 2013 there was consistant momentum in sales, however prices being achieved were nothing to rave about . We knew something was happening but after such an extended downturn it was difficult to acknowledge the shift.
In the last six months of 2013, the residential market, including houses, vacant land and units which can be owner occupied have been selling.
The flood gates opened, and residential property that was previously sitting idle on the market has since been snapped up. The average time on the market for a house in Port Douglas was 320 days,  this statistic quickly changed in the later half of 2013 to 140 days.
The same however, can not be said for units that are zoned for holiday use only. Unfortunatley holiday unit sales have remained in the doldrums due to higher Body Corporate costs and insurance “hikes”. Despite 2013 having shown some extraordinary growth in tourist numbers, net returns to most holiday unit owners remain low and offer little incentive to potential buyers.

Perhaps the low interest rates have finally had an effect on buyers and investors, perhaps it is the fact that Douglas is finally de-amalagamating from Cairns after 5 years of being their cash cow. Whatever the reason, the later half of 2013 has been one of our busiest years.
Our conversations with Sellers have changed from “how to sell” to “how much will we get”, we are in the transition period from a buyer’s market to a seller’s market. If you are thinking about selling your Port Douglas residential property now is a good time, as we are bracing for a busy 2014.


We wish all our clients, friend and lovers of the Douglas Shire a fabulous festive season and prosperous 2014.

Posted in Australia, Australian Home Buyers, Australian Homes, Banks, Century 21, Century 21 Port Douglas, Cooya Beach, Port Douglas, Property Insurance, Property Investor, Property Management, Property Port Douglas, Property Tips, Property Values, Propety Prices, Queensland | Tagged , , , , , , | Leave a comment

RBA Decision

The Reserve Bank of Australia today decided to hold the official cash rate at 2.50 per cent – a decision that is expected to continue to support the strengthening of the Australian real estate market.

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Housing Bubble Unlikely – Australian Property

Century 21, the largest real estate sales organisation in the Asia Pacific region, believes that it is unlikely that the Australian residential market is in, or developing, a housing bubble.

 

“Recent growth in national dwelling values could more be seen as a correction rather than a bubble,” said Chairman and Owner of Century 21 Australasia, Charles Tarbey.

 

“While property values nationally have grown by 8.7 per cent since June 2012, commentators often overlook the fact that values have dropped in several regions recently, and sit only 0.7 per cent higher than their October 2010 peak.”

 

According to Century 21 Australasia, the Australian market has a number of unique characteristics and drivers that by and large keep the market safe, resilient and strong.

 

“Projected shortages in housing stock, a stable government, a strong economy, centralised society, coastal living, and the fact that Australians tend to live in larger houses than other people around the world – are all factors that bode well for resilient ongoing house prices,” continued Charles Tarbey.

 

Last month the Reserve Bank’s Assistant Governor, Dr Malcolm Edey, described talk of a housing bubble as ‘‘unrealistically alarmist.”

 

While a projected shortage of housing stock in certain areas means that prices are likely to grow with demand, Century 21 Australasia believes that developers will also be working to capitalise on this shortage by developing more housing.

 

“While dwelling value growth and a low interest rate environment has started to encourage activity, Century 21 believes that any bubble talk is premature at best and alarmist at worst,” concluded Charles Tarbey.

 

 

Posted in Australia, Australian Home Buyers, Australian Homes, Banks, Century 21, Century 21 Port Douglas, Far North Queensland, First Home Buyers, Interest Rates, Interest Rates Australia, Port Douglas, Property Investor, Property Management, Property Port Douglas, Property Tips, Property Values, Propety Prices | Tagged , , , , , , , | Leave a comment
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