Cairns sees Queensland's biggest regional rent increases: CoreLogic

Cairns sees Queensland's biggest regional rent increases: CoreLogic
Cairns sees Queensland's biggest regional rent increases: CoreLogic

There were 4,926 Cairns homes sold over the 12 months to February 2019, down 11% when compared to the previous 12 month period, according to the latest CoreLogic Regional Report. 

It suggest that dwelling values across the region fell year-on-year with house values down just -0.7% and unit values down 2.1% over the year to March 2019.

Cairns sees Queensland's biggest regional rent increases: CoreLogic

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Cairns sees Queensland's biggest regional rent increases: CoreLogic

Source: CoreLogic

Over the same period, renting became more expensive with advertised rental rates across the Cairns region increasing by $15/week for both houses and units.

Cairns sees Queensland's biggest regional rent increases: CoreLogic

Click here to enlarge: 

Cairns sees Queensland's biggest regional rent increases: CoreLogic

Source: CoreLogic

It is the biggest increase across all five regions in Queensland. 

The average time it took to secure a sale on a Cairns house increased by five days over the year to February, while the average Cairns unit was selling five days faster.

Vendor discounting levels increased over the year for both houses and units in order to secure a sale.

Click here to enlarge: 

Cairns sees Queensland's biggest regional rent increases: CoreLogic

Source: CoreLogic

Tags: 
Cairns Corelogic

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