Reef Casino: black to red

Reef Casino Trust (RCT) went for the Friday dump with half yearly results posted to ASX at 6:49pm last Friday, or maybe it was just a very long board meeting. The headline result of a $23.7 million loss included non cash impairment charges for property, plant and equipment: Due to the continuing uncertainty of COVID-19,…

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Intra-State Airport Recovery

Following the last post on recovery in traffic through Cairns Airport there has been commentary from Qantas on intra-state routes: Ballina, Broome and Cairns emerge as Qantas’ top destinations “We have routes like Brisbane to Cairns, which is actually the top route in Qantas’ network, and the traffic on that is bigger than the traffic…

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Airport Trivia

Cairns Airport numbers for July showed a bounce following eased restrictions on July 3. Whether that will continue as a V-shaped recovery maybe something else with subsequent re-imposed border restrictions on NSW and Victoria. Airport passenger number totals are presented as arrivals + departures. Despite low numbers arrivals outnumbered departures by a significant proportion (@10%)…

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Refugees & Rental Vacancies

SQM have updated rental vacancy rates for July with some surprisingly strong downward moves particularly in the 4879 beaches postcode. Previous issues remain that the implied rental stock derived in the SQM data from the vacancy rate and vacant properties is well above current bonds lodged at RTA by about 6,000 in Cairns: What is…

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Building Approvals FY20

Regional building approvals for June 2020 showed a weak trend: Trend building approvals hit record low in Cairns in June. I think we need to look at this related to trends in population growth: I have taken the liberty here to derive an annual average from the Conus Trend as the most appropriate representation on…

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Payrolls Update

ABS has now updated their Covid Weekly Payrolls series for SA4 regional areas. This regional data had previously only been updated to May 30 prior to easing of lockdowns and borders. The first thing to note is that there have been some significant upward revisions to prior numbers in this new experimental series. The May…

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AirBnB listings decline

Another data source where I can’t vouch for the robustness of the data but was twitter referenced by a prominent and reputable real estate identity: This indicates that active AirBnB properties in Australia may have declined by around 50,000 or 25% so far in 2020. To think only last year Gerry Harvey was radio advertising…

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