Property value increases in Cairns North have tracked just lower than the QLD average of 3.74% over the last 12 months.
Over the longer term, Cairns North has seen property prices show investors a 20.86% return over the last 3 years. This is worse than over the last 12 months
State is the 2nd most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -7.16% offered to property buyers. Sellers in Cairns North itself are offering an average vendor discount of -5.88% to real estate investors.
Advertised rents are around the $360 mark per week – giving a return of 4.46% based on the median price in Suburb
At number 849th in the list of Australian suburbs ordered by increase in median house value over the last year, Cairns North, 4870 is in the top half with a property value increase of 4.65% recorded in median house prices.
Taking the average capital gain, or increase in median house value, Cairns North,4870 has racked up an average of 4.65% over the period. This ranks it number 1297th in the whole country for real estate investors looking at median house price increases.
LACK OF BUYER INTEREST may well be the reason that Cairns North is offering property investors an average of -5.86. This rate of discount on properties puts Suburb at number 29th in terms of most discounted suburbs in QLD
With the median price for a house in Cairns North being $225000 and the advertised rent reaching $320 the gross rental yield for property investors calculates out to be 7.40%