PROPERTY. Median Property Prices Median Sale Price (Log Scale) $450,000. Houses. Units. Vacant Land

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1 Median Property Prices Median Sale Price (Log Scale) $45, $3, $2, $14, $1, Houses Vacant Land Units Herron Todd White does Tax Depreciation Schedules Do you have an up-to-date tax depreciation schedule? You could be missing out on thousands of dollars each year in allowable depreciation for your investment property. Depreciation is an important part of maximising your investment returns from an income generating property. Contact us on for an obligation-free quote. $7, May-3 May-4 May-5 May-6 May-7 May-8 May-9 May-1 May-11 May-12 May-13 Nov-3 Nov-4 Nov-5 Nov-6 Nov-7 Nov-8 Nov-9 Nov-1 Nov-11 Nov-12 * All sales are classified to date of contract (not date of settlement) ** Recent months are provisional and subject to revision Source: HTW Analysis of RPData 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 in the more popular suburbs but the overall median has been slower. The May 213 Cairns median house price trend stood at $36,4, which is 4.5% higher than it was in May 212. N.B. The median property price is the actual sale price of the middle-priced property from the list of properties sold each month. Movements in median prices do not necessarily equate to movements in individual property values.. CairnsWatch July 213 6

2 Rental Vacancy Rates Percentage Vacancy 8% Houses Units Total Median Rents $ per week $45 $4 6% 4BR House 4% 'Balanced ' Range $35 $3 2BR House 3BR Flat 3BR House 2% $25 $2 1BR Flat 2BR Flat % Jun-3 Jun-4 Jun-5 Jun-6 Jun-7 Jun-8 Jun-9 Jun-1 Jun-11 Jun-12 Jun-13 Source: HTW Rentroll Survey Rental vacancy rates increased a notch during the early part of this year, moving the market from ultra-tight to simply tight, but vacancies have now started to tighten again. The trend vacancy rate for houses stood at 1.9% in June 213, while units recorded a trend vacancy rate of 2.3%. The market vacancy trend overall stood at 2.1%. $15 Jun-7 Dec-7 Jun-8 Dec-8 Jun-9 Dec-9 Jun-1 Dec-1 Jun-11 Dec-11 Jun-12 Dec-12 Jun-13 Sep-7 Mar-8 Sep-8 Mar-9 Sep-9 Mar-1 Sep-1 Mar-11 Sep-11 Mar-12 Sep-12 Mar-13 Quarter ended Source: Queensland Residential Tenancies Authority Despite some downward drift in the last quarter, median residential rent levels in Cairns have been increasing over the last twelve months for most categories of housing. The weighted average median rent has increased by $5 per week over the year to June 213, up from $35 to $355 per week for houses and $25 to $255 per week for units. N.B. The median rent is the middle-priced rental from the list of properties rented during the quarter. Movements in median rents do not necessarily equate to movements in individual property rents. CairnsWatch July 213 7

3 Building Approvals Number of New Dwellings Approved in Cairns Urban Area 15 Houses Units Total (Trend) Herron Todd White does Socio-Economic Research Herron Todd White Cairns carries out project consulting assignments in all areas of socioeconomic research, including demographic studies, statistical surveys, market research, strategy planning, cost benefit studies, and socio-economic impact assessment Contact us today to discuss your requirements. 25 Jun-9 Dec-9 Jun-1 Dec-1 Jun-11 Dec-11 Jun-12 Dec-12 Jun-13 Sep-9 Mar-1 Sep-1 Mar-11 Sep-11 Mar-12 Sep-12 Mar-13 Source: Derived from ABS data The building approvals trend for Cairns has picked up significantly over the last six months, having lifted by 43.1% over the period from December 212 to June 213, albeit from a very low base. Building approvals for as a whole, at 414 dwellings approved, were still down on the 467 building approvals recorded in CairnsWatch July 213 8

4 Special Topic Residential Land Developer Lots 2, Annual Sales Rate Supply Special Topic Residential Apartments Number of Units (New Developer Stock) 1,4 Annual Sales Supply 1,2 1,5 1, 8 1, Jun-3 Jun-4 Jun-5 Jun-6 Jun-7 Jun-8 Jun-9 Jun-1 Jun-11 Jun-12 Jun-13 Jun-3 Jun-4 Jun-5 Jun-6 Jun-7 Jun-8 Jun-9 Jun-1 Jun-11 Jun-12 Jun-13 Source: HTW Land Survey The new residential land market is stirring again with the number of new residential lots sold increasing from 287 in to 418 in a 45.6% increase albeit from a very low base. Current sales rates remain well below the 1, lots per annum normally needed to satisfy our population growth requirements. Residential land supplies have reduced to 657 new lots available as at 3 June 213. However supplies are expected to rebuild again as land production restarts in anticipation of continuing higher sales rates. Source: HTW Unit Survey The Cairns new unit market remains in the doldrums, with just 71 sales of new residential units occurring in the past year, mostly of leftover stock from long since completed developments. Unsold residential new unit stock has fallen to 174 units at the end of June 213, due to progressive slow absorption and an almost complete lack of new construction. CairnsWatch July 213 9

5 National Property Clock Orange Tamworth Herron Todd White does Townsville Information Bathurst Bendigo Darwin Dubbo Echuca Mudgee Perth Approaching Peak of Rising Peak of Starting to Decline Declining Alice Springs Canberra Burnie-Devonport Emerald Gladstone Gold Coast Hobart Launceston Shepparton Wagga Wagga Herron Todd White produces a quarterly publication of Townsville Information entitled Townsville in Focus. Like CairnsWatch, it is free of charge. For further enquiries or to subscribe, contact admin.townsville@ or call (7) Brisbane Griffith Hervey Bay Mackay Melbourne Newcastle South West WA Sydney Toowoomba Whitsunday Wollongong Starting to Rise Approaching Bottom of Bottom of Adelaide Adelaide Hills Albury Ballarat Barossa Valley Bundaberg Cairns Coffs Harbour Gippsland Ipswich Latrobe Valley Mildura Mount Gambier NSW Central Coast Rockhampton SA Iron Triangle SA Riverland Shepparton Sunshine Coast Townsville Tweed Coast Wodonga Entries coloured dark blue indicate positional changes from last month Source: Residential Property Ratings Compiled by Herron Todd White, June 213 Herron Todd White s National Property Clock is prepared each month based on the local market perceptions of its Australia-wide network of offices. Cairns is on the cusp of a recovery phase, but is not quite there yet. CairnsWatch July 213 1