Port Douglas Property Update

 

Thanks to Herron Todd White for the below report. Whilst it does not refer directly to Port Douglas, Cairns is our closest statistical indicator of Month to Month property trends.
The Cairns property market has been experiencing stronger levels of sales activity for some time, but the increasing volumes are only just starting to translate through to higher prices.

Prices have been increasing by up to 5% over the last twelve months inthe more popular suburbs but the overall median has been generally steady.

The overall April 2013 Cairns median house price trend stood at $353,300, which is 1.8% higher than it was in April 2012.

Cairns is over the hump of the forced property sales which inundated the market and kept prices depressed during 2012.
The incidence of Mortgagee-in-Possession (MIP) and Receiver property sales has reduced by 70%, from a peak of 15% of the market in May 2012 to 4.5% of the market in March 2013.
The cleanout of MIP and receiver stock is another positive sign for the Cairns property.

Source: Herron Todd White – Independent Property Valuers

Bottom of the Cycle for Cairns and Port Douglas

 

About Port Douglas

Port Douglas real estate - Real estate in Port Douglas is now sought after the world over. Our passion for where we live stems from Port Douglas being the only place in the world where two natural, world heritage listed sites (the Great Barrier Reef & Daintree Rainforest) exist side by side. If you would like buy or live in your own piece of paradise, please browse our real estate listings http://www.realestateportdouglas.com.au The views expressed in the Port Douglas blogs are not those of Century 21 Port Douglas Real Estate nor the Century 21 franchise.
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