Cairns property: Babinda home to cheapest real estate
ROLLING hills, a great community and sprawling properties which often come with their own crystal clear tropical stream aren’t Babinda’s only selling points.
Research by Aussie Home Loans and CoreLogic has revealed it also offers the most affordable homes in the Cairns region.
With a median price of just $206,310, Babinda has endured some hefty losses over the past decade, however.
At a median price of $138,634, Woree came out on top for bargain apartments.
Woree also made the national top 20 for most affordable units, placing ninth, while Manunda, at $146,857, took 12th position nationally.
“The Cairns region offers a diverse array of housing options and myriad price points and housing styles, with affordable options,” Aussie Home Loans chief executive James Symond said.
“Change in values over the last decade are hugely variable across the different suburbs, with Babinda recording the largest house value fall of -13.2 per cent, compared to Mount Peter’s 19.2 per cent gain over the past decade.
“Cairns’ unit market is equally inconsistent, with Woree recording losses of -21.4 per cent versus Westcourt’s 14.8 per cent growth.”
“Our report reveals some quality affordable housing in suburbs across Cairns, and with record low interest rates, buying a property could be more achievable than you know.”
Babinda Real Estate principal Segrid Hudson said first home buyers, prepared to commute to Cairns, were among those snapping up the town’s bargains.
“We had upgrades to roads and more overtaking lanes so the drive north will get shorter,” she said.
In Woree, Hillary Amore said the affordable prices and proximity to doctors and shops made the decision to buy her unit 15 years ago easy.
She is selling her Toogood Rd unit but hopes to rent nearby.
“I’ve always lived in the inner city, in Sydney too. I don’t have a car, so it suits me,” she said.