Following the last post a quick browse at RTA bond data for Cairns Regional Council area postcodes but also including Douglas. This is the change in number of bonds held by the RTA over five years to December 31.
Postcode 2013 2018 Change # Change %
4861 116 135 19 16.4%
4865 528 534 6 1.1%
4868 2683 2829 146 5.4%
4869 2002 2013 11 0.5%
4870 11724 11592 -132 -1.1%
4878 1999 2062 63 3.2%
4879 2971 2900 -71 -2.4%
4873 672 665 -7 -1.0%
4877 1066 907 -159 -14.9%
Go Babinda! The bulk of rentals are in the central 4870 postcode which includes the City and is among the largest population postcodes in Queensland. What stands out here though is postcodes where we have seen declines all have a significant tourism accommodation component. Which means they are also attractive lifestyle locations. Port Douglas 4877 stands out.
We should probably expect some shift in tenure from rental to home ownership in parts of these areas such as 4879 around the beaches which would also be consistent with census data for Cairns with a shift to higher home ownership. There has also been negligible new strata unit capacity in these locations. Tenure in strata buildings with management rights can be very fluid between owners, renters and holiday accommodation. An Airbnb effect can’t be discounted.
I went looking elsewhere for something similar to what we are seeing in Cairns such as the Whitsundays but it wasn’t there at all …….
