However, Far North houses have been more resilient and escaped the list altogether. This also appears consistent with the comparative performance between the two sectors based on median prices in the HTW Cairnswatch report. The RP-Rismark data is based on their more sophisticated hedonic index.
Regional unit markets along the Queensland coast stand out among the hardest hit with RP Data commenting:
There has been a more optimistic tone recently to property market commentary around Cairns and Port Douglas. The Cairns Post has typically been trying to drum up business for advertisers and there was also a positive report yesterday from property analyst Terry Ryder.
While the outlook is more positive the HTW Cairnswatch property clock for Cairns residential remains at the bottom of the cycle where it has now been for some years. In real terms it is a long way back up for strata unit owners and investors.