Tablelands homes enjoyed a 10.5 per cent growth in equity in the last 12 months
Far North homebuyers considering a change of scenery are already looking to Cairns’ outer suburbs, but for those who don’t mind highway cruising, here is how real estate in the regional local government areas stacks up.
A common indicator of a strong real estate market is a region’s capital growth, and among the four main local government areas outside Cairns — Douglas, Mareeba, Tablelands and Cassowary Coast — there is one clear winner, according to realestate.com.au data.
In the past 12 months, property prices rose by 15.3 per cent in the Cassowary Coast, where 278 houses sold at a median price of $275,000.
Houses in this region tended to stay on the market for an average of 291 days, while investors collected a median rent of $315 at a 5.96 per cent yield rate.
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At Tablelands, homeowners also enjoyed gains in equity with a 10.5 per cent price rise to a median of $335,000 after 252 houses sold.
Investors were slightly worse off than the Cassowary Coast with a median rent of $350, yielding at 5.42 per cent.
Nearby, Mareeba homeowners suffered a -2 per cent change with 188 houses selling at a median price of $357,000.
However, those in the rental game enjoyed median returns of $375 at 5.45 per cent.
The Douglas Shire reported no change in median price in the past 12 months after 121 houses were sold in the region at a median of $480,000.
However, the popular holiday and tourist destination saw the bulk of its activity through the sales of units.
In the past 12 months, the median price of units rose 15.4 per cent to $285,000 after 157 were sold. Investors in Douglas Shire units were well off, collecting a median rent of $330 at 6.02 per cent.
The closest area for unit competition was the Cassowary Coast, where only 44 units sold but a 27.4 per cent change in median price occurred, and landlords collected $248 in rent at 6.16 per cent.
As a comparison, Cairns reported a 1.2 per cent increase in median price from 2052 house sales over the past year.
The median price was $420,000, and the median rent was $440 at 5.45 per cent.
The post Real Estate: FNQ regions compared for investment returns appeared first on realestate.com.au.