Monthly

Market

Report

PARRAMATTA

PARK

June/ July 2014 Shaun Craike

Fusing 26 years of market knowledge and experience with fresh innovative ideas Professionals Edge Hill is changing how property is sold in the Cairns area. At the forefront of this change Shaun Craike is breaking the mould of what a real estate agent can do for you. To discuss the Professionals Edge Hill difference give me a call today!

Shaun Craike

Shaun Craike 0466 090 016

E. shaun@professionalseh.com.au W. www.professionalseh.com.au facebook.com/salescairns

Cairns Market

Overview

House prices in Cairns have been slowly rising

over the last three years, with the median price rising by 6.1% over the period from May 2011 to May 2014. The median unit price has also shown substantial strength, increasing by 7.2% over the period from May 2012 to May 2014.

General market confidence seems to be driving this growth and understandably so. The Cairns Region is predicted to see some serious growth over the coming years. This is mainly contributed to a series of new developments proposed to start in the near future, including:

• Aquis Casino- $8 billion project

• Spence Street 7 tower project- $200 million project

• Cairns Aquarium- $35 million project

• Adventure Waters, water park- $41 million project.

The increase in market confidence is having a doubled effect on property prices. Not only is this confidence driving demand up but it is also drying up supply. Supply should start to replenish once prices start to hit levels of the previous peak of 2008.

How long this market confidence will last in Cairns is hard to predict. I believe that property prices in Cairns will continue to rise throughout the year; however, are extremely vulnerable to extreme volatility caused by the Aquis Casino project.

If the Aquis Casino project hits any major delays or

is cancelled for any reason we are likely to see the market flooded with people wanting to sell. For the conservative seller now is the time to capitalize on market conditions with many properties seeing multiple offers and extremely quick sale times.

Parramatta Park Market Overview

Type Of Property

June/ July 2013

April/ May 2014

June/July 2014

House Average Price =$393,500 # of Sales

=10

Average Price =$436,200 # of Sales

=5

Average Price =$392,00 # of Sales

=4

Unit Average Price =$212,100 # of Sales

=5

Average Price =$201,333 # of Sales

=6

Average Price =$238,500 # of Sales

=4

Total # of Sales = 15

# of Sales = 11

# of Sales =8

Comparing sales numbers from this year to the same time period last year we can see that the number of sales has drastically dropped , however, average price has remained steady. This is very much a reflection of what is happening in the entire Cairns region. Continued shortage of supply in Parramatta Park will see buyers push property prices up over the coming months.

Parramatta Park Statistics

$0

$100,000

$200,000

$300,000

$400,000

$500,000

House's Unit's

Highest

Lowest

Median

Number of Sales in June-July

Sold prices for June-July

Sales for June-July Properties that have settled during June-July

356 Severin Street Parramatta Park Sold Price: $340,000 Sold Date: 30/6/2014

Area: 415m Bed: 3 Bath: 1 Car: 1

16 Clare Street Parramatta Park Sold Price: $380,000 Sold Date: 14/6/2014

Area: 445m Bed: 2 Bath: 1 Car: 3

140 Martyn Street Parramatta Park Sold Price: $455,000 Sold Date: 17/06/2014

Area: 607m Bed: 3 Bath: 2 Car: 4

49-51 Gatton Street Parramatta Park Sold Price: $415,000 Sold Date: 19/05/2014

Area: 820m Bed: 3 Bath: 1 Car: 2

8/7 Pembroke Street Parramatta Park Sold Price: $255,000 Sold Date: 18/5/2014

Area: 103m Bed: 2 Bath: 2 Car: 1

Sales for June-July Properties that have settled during June-July

3/60-66 Martyn Street Parramatta Park Sold Price: $173,000 Sold Date: 14/5/2014

Area: 108m Bed: 2 Bath: 2 Car: 1

27/376-384 Severin Street Parramatta Park Sold Price: $222,000 Sold Date: 14/5/2014

Area: 119m Bed: 2 Bath: 2 Car: 1

78 Mulgrave Road Parramatta Park Sold Price: $3,000,000 Sold Date: 4/6/2014

Area: - Bed: - Bath: - Car: -

2/281 Severin Street Parramatta Park Sold Price: NA Sold Date: 30/6/2014

Area: 415m Bed: 2 Bath: 1 Car: 1

Currently on the market

Number currently for sale

$0

$200,000

$400,000

$600,000

$800,000

House's Unit's

Highest Lowest Median

Current asking prices

Information about this report.

This report has been put together using data from various sources. Whilst care has been taken in the preparation, no representation has been made and no responsibility is accepted for the accuracy of the whole or any part of this document by the author. Please disregard this publication if your property is exclusively listed with another agent.

Selling your home can be a difficult and

confusing time, however when you enlist the services of Shaun Craike you can rest easy. Fusing good old fashion customer service with the latest “social proof” marketing systems Shaun Craike takes away any concerns you have about selling your home. Better yet he understands what it takes to proactively market your home to get the most profitable outcome for you.

Shaun Craike

Shaun Craike 0466 090 016

E. shaun@professionalseh.com.au W. www.professionalseh.com.au facebook.com/salescairns

Call for a FREE appraisal today.