Palm Cove Real Estate - Palm Cove Queensland - The Official Palm Cove Region Guide
For the latest information on Palm Cove, Cairns Beaches and Port Douglas real estate contact Grant Freeman
Do you like the idea of being independent and having your indoor outdoor space to share with only your own family and friends whilst on holidays? If the answer is yes then the Cairns Holiday Specialists have the largest selection of holiday houses in Palm Cove for you to view on line.
On the beachside of the highway there is a great selection of three and four bedroom holiday homes on offer all year round. Renting a holiday home is perfect for a destination wedding, a family get together or just a place you can call your own home whilst on holidays in Tropical North Queensland.
Each of these holiday homes have private swimming pools, barbeques and great outdoor entertainment areas.
The kitchens are fitted out with all the cooking facilities you could want for independent catering and the rooms have fresh towels and lined provided for the week and should you require a service during your stay just let the reservations staff know when you make your booking and they can add this charge to your account.Palm Cove Holiday Homes
Palm Cove Car Rental
All of the Palm Cove holiday houses are within a five to ten minute walking distance to the beach and the restaurants and shops in beautiful Palm Cove so it is highly likely the rental car will just sit in the driveway most of the time.
If you do require a rent a car at all take a look at this page here for the live availability of all car rental types such as a four wheel drive a pop top cabriolet or a small little economical car to get you around Palm Cove Transportation.
It is best to book your rental car at the same time as booking your holiday house so that you can be assured that the type of car you require will be available at the Cairns airport when you land as they are always in very high demand during the school holidays.
Palm Cove Real Estate Investment April 2013
Market Brief Update - Palm Cove - courtesy of Premium Property Specialists
93 properties have sold in the last 12 months to March 2013 in the Palm Cove region which includes Buchan Point to Argentea.
The breakdown is as follows :
- 49 Apartments
- 26 Houses
- 17 Land
- 1 Commercial shop
The sales volume was approximately $33m for the 93 property sales.
The sales volume for the 12 month period prior was $62m for 127 property sales.
The price ranges for the categories are approximately as follows :
Palm Cove Real Estate March 2013
Growth trend continues with capital city dwelling values rising 0.3% in February
1 March 2013 - Information courtesy of RP Data
RP Data – Rismark Home Value Index Release
With Australia's housing market experiencing a mild recovery over the past twelve months, five of the country's eight capital cities have recorded growth <p.according to the February RP Data and Rismark home value index results.
To the end of February 2013, the index results revealed that capital city dwelling values rose by 0.3 per cent, following a 1.2 per cent rise in January. The strength in the monthly result was largely driven by Australia's second largest housing market, Melbourne, where dwelling values were up 1.5 per cent. Values also appreciated across Sydney (+0.1 per cent), Canberra (+1.9 per cent) and Darwin (+2.3 per cent), while the remaining capital cities recorded a fall in values.
Brisbane recorded the largest month-on-month fall where dwelling values were down -1.1 per cent after rising 2.0 per cent in January.
On a quarterly basis, every capital city of Australia, apart from Adelaide and Darwin, has recorded a rise in dwelling values. The largest increase over the past three months has been in Hobart where dwelling values are up 4.2 per cent. Canberra (2.3 per cent) and Melbourne (2.2 per cent) also stand out as showing a solid jump over the past three months.
RP Data research director Tim Lawless said, "The February results are not as broad-based as what was recorded in January with half of Australia's capital cities recording a lift in dwelling values over the month, while the other half recorded a drop. The trend for most cities remains positive however, with six out of the eight capital cities showing growth over the past quarter and five of the eight capitals over the past twelve months."
Rismark International's Ben Skilbeck said, "In an environment of significantly improved consumer confidence, the housing market is responding positively to almost record low monetary policy settings. A recent statement by the RBA Governor and the House of Representatives noted that lending rates have fallen to levels not far from their historic lows and the share of household income devoted to interest payments has declined considerably while housing affordability, as conventionally measured, has improved a lot over the past two years. Consistent with the RP Data-Rismark indices, the RBA Governor also noted housing prices have been rising since may last year."
According to RP Data's Tim Lawless, most housing markets bottomed out around May last year and since that time the combined capital cities index has recorded a 3.3 per cent improvement in values.
"While the housing market is staging a demonstrable recovery, we need to see values rise a further 4.3 per cent before we can say that a technical recovery has been achieved. That amount of value appreciation is likely to be at least six months away," he said.
Unit markets are generally showing a stronger performance compared to detached houses. Over the past year, unit values across the combined capital cities index have increased by 2.3 per cent compared with 1.2 per cent gain in house values.
According to Mr Lawless, there are several other factors which are also reflecting a more positive housing market; auction clearance rates have been at 55 per cent or higher so far this year where last week they recorded a clearance rate of 64 per cent which was the highest since May 2010. The number of homes being advertised for sale has also seen a reduction with RP Data tracking 2.2 per cent fewer listings than at the same time last year. In addition, the level of vendor discounting has also improved consistently which suggests that buyer and seller expectations are becoming more evenly balanced. The rate of vendor discount across the combined capital cities is now recorded at -6.4 per cent, the strongest reading since October 2010.
Rismark International managing director Ben Skilbeck said, "Auction clearance rates of 70 per cent in Melbourne and 63 per cent in Sydney, combined with housing credit growth of 0.4 per cent in January, indicates that home buyers are moving away from the sidelines and back into the market."
From an interest rate perspective, the February results from the RP Data and Rismark International index are likely to provide further reason for the Reserve Bank of Australia to keep interest rates on hold when they meet next week.
According to Tim Lawless, the RBA will be keen to see the housing market remain reasonably stable.
"The quarterly trend rate of housing value growth is slightly higher than inflation and pretty much in line with wages growth, which is arguably exactly what the RBA is hoping for," Mr Lawless said.
Palm Cove Real Estate Investments 2011
Palm Cove is a popular destination for real estate investors who like to have the luxury of owning their own holiday unit, self contained apartment or holiday home in the ever popular tropical paradise location of Palm Cove in Queensland Australia.
Real Estate investors have always had a love affair with Palm Cove due to its beachfront location, its unique features of cobble stoned streets, colourful shopping village, swaying palms, beachfront restaurants, low rise holiday hotels, resorts and self contained apartments that offer tourists and real estate investors a balmy tropical paradise within Australia to escape the southern winters to relax with their friends and family.
Prior to the world wide financial crisis real estate investors had made big gains on the growth in value of their investment property but since then a decline has become evident in real estate values and borrowing money from banks has tightened up making it difficult for investors to borrow to purchase some of the great investment opportunities that a down market offers.
Recently banks have been releasing mortgagee in possesion properties and Palm Cove real estate agents are selling forced sales at great bargain basement prices for cashed up investors who are happy to wait for the good times to roll again and real estate prices to climb once more.
Now is the prime time to be getting into a flat market at prices that may not be ever be seen again.
The beauty of purchasing an investment unit, apartment or holiday house in Palm Cove is that you as the owner can use it for your own use during the year. In the larger holiday apartments or houses owners sometimes have a lockable cupboard where they store their own personal items for their use when they come on holidays.
Your investment in such a popular tourist destination such as Palm Cove offers the purchaser the opportunity to either holiday let the apartment or holiday house or put in a permanent tenant to pay of the balance of the mortgage and to maintain the investment.
See the local Palm Cove Real Estate Agents for some advise on investing in Palm Cove Queensland Australia today for some great bargains.
Palm Cove Real Estate Investments 2009
The combined RP Data.Rismark International National Property Indices report confirmed that Australian property values have demonstrated exceptional resilience to the global financial crisis with overall property values falling by only 2.6 per cent during the 2008 calendar year. Including rents, the total returns to residential property were actually positive in 2008.
A local bank panel valuer recently advised at a workshop that 2008 was an interesting year with prices falling between 5% and 10% in various sectors of the market, with an average of 8%.
In certain market segments we have noticed the market has fallen up to 20 per cent, however the majority of owners are well off due to the overall growth in the past five years as compared to the last fifteen year period in Cairns. There has been increased enquiry since the turn of 2009. Granted that the sellers will not be able to get 2007 prices in the Cairns region, however we will be able to sell your property!
Interest rates are again on the way down and will continue to do so over the 2009 year. It is a great time to buy with the holding costs being the lowest in the last 50 years. Some clients who were selling have recently withdrawn their properties from market, as it has now and will become more affordable in the near future to hold a property in a rental situation until the market recovers.
Unemployment has been raised as a concern however with unemployment at under 5% this has previously been regarded as unattainable and the situation may not appear to be as grim as it is being portrayed, if it was to rise to 8%.
The Australian market has a shortage of housing, with buyers waiting for better circumstances; lower interest rates or rising incomes to facilitate their entry to the market. This latent underlying demand for housing is a factor that will support the market. This is encouraging as it does differentiate us from the United States market.
However, while monetary policy is easing, without question the banks' panel valuers are conservatively valuing properties. In some cases this has prevented contracts from proceeding due to the valuation price and bank lending value ratios.
Foreign investors are also looking to Cairns to purchase, being the third most popular city in Queensland for foreign purchasers. New Foreign Investment Reivew Board changes have relaxed conditions to stimulate further interest in our markets as of December 2008.
- Apartments from $165,000 up to $1.3m with the average price of over $300,000 and median of over $250,000
- Houses from $360,000 to $850,000 with a median and average of $480,000
- Land from $200,000 to $380,000 with a median and average of $210,000