Our Backyard – Lorne

‘Lorne – Market Roundup’
Over many years I have followed a specific set of indicators that assist me in forecasting the performance of the unique coastal leisure market within which I am lucky enough to work. One of these has been the performance of the Far North Queensland lifestyle market that sits anywhere within a two hour drive of Cairns, and specifically the resort town of Port Doulas. With a tourist season that extends from May to September, prior to the wet season, and less than 30% of the available residential beds permanently occupied the parallels to Lorne are amazingly similar.
Their commercial precinct over the past four years has seen many businesses disappear, others under financial pressure and surprisingly the odd vacant shop – sound familiar? The residential property market has seen values drop by 15-25% and volumes of transactions slump to unprecedented numbers, but I have picked up on a real positive. In my discussions with traders and business operators they are all reporting their most positive “season” in years. I hear visitors complaining how they have to book to get into restaurants, journey to the reef and visit the Daintree. These are all very positive signs for us “Southerners” as we look to prepare ourselves for our “Summer season”.

CC


‘Lorne – Weekly report’

The first quarter of the fiscal year is now behind us and our K.P.I’s have confirmed our earlier optimism in the market place with increased volumes of transactions than the corresponding period 12 months ago. Energy in the market place has certainly moved up a notch with both buyers and sellers looking to explore the opportunities that exist. Whilst buyers have been more prepared to “unlock their wallets” this year than last when value based buyer opportunities present. But the message continues to be clear for sellers in that they must be “sharply priced” to capture the eye of the buying market.
There is certainly a marked increase in the volumes of stock that are entering the market and some great opportunities to purchase at a time when it appears that a real estate cycle in preparing to launch.
The reinforcement of stability was further provided during the week as the Reserve Bank of Australia kept the cash rate on hold at 2.5%.

QM

Open houses
Sunday 6th October
12.00 – 12.30 50B Smith Street Lorne

‘Lorne – No better place in the world’.
Lorne Pier at dawn

‘Lorne – You must have a look at this’.
24 Normanby Terrace – Low maintenance, double story family beach home comprising of 4 bedrooms, 2 bathrooms and multi living zones. Large decks off both levels, capturing a majestic ocean aspect. Strong rental history. For more information please contact Karen Stribling on 0439 650 838

24 NORM

‘Lorne – Great Local Slang’
“I need that like a submarine needs a fly wire door!”

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See you in Our Backyard

Ian Stewart
0418 522 571

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