Cairns real estate: Low supply, high demand fuels property market surge

first_imgMat Foley from ReMax Cairns at a Aeroglen property that is for sale. PICTURE: STEWART McLEANCAIRNS has recorded the third highest jump in house prices in the country in the 12 months to January 2020, according to the latest Quarterly Regional Market Update from CoreLogic.The city recorded an annual growth of 4.2 per cent, beaten only by Illawarra in NSW and the Gold Coast. The positive news came as the report showed property values increased in 23 out of 50 separate house and unit markets over the past year.The report analysed property market performance across Australia’s largest non-capital city regions.There were also 4915 property sales in Cairns during the year which was 4 per cent lower than a year ago and 7.5 per cent lower than the five-year region average.RE/MAX Cairns agent Mat Foley said there was still high demand for properties “right across the board” in the city.“Most properties we are selling are in multiple offer situations, so excluding external forces (the high sale figures), the trend should continue,” he said.“Fundamentally a lack of supply of properties to the market and an increase in buyer numbers have driven the price rise.More from newsCairns home ticks popular internet search terms2 days agoTen auction results from ‘active’ weekend in Cairns2 days ago“The increase in buyer activity is due to two things, a downturn in rental vacancies which has forced many tenants to consider purchasing as well as government regulators relaxing the banks’ benchmark servicing rate, which has resulted in a spike in investor activity.“There is really strong demand for homes up to $500,000 with a lot of buyers looking for larger blocks within 20 minutes of the city centre.”The CoreLogic report found houses outperformed apartments overall with house prices rising in 15 regions compared to unit value gains in only eight regions. “As housing affordability becomes a resurgent issue in 2020, capital city residents may once again seek relatively affordable housing in nearby regions, or regional areas with high levels of amenity,” CoreLogic head of residential research Eliza Owen said.last_img read more

What we learned from Syracuse’s 41-17 victory over Central Michigan

first_imgBacked by a strong offensive showing and a few big rushing plays, Syracuse (2-1) cruised to a 41-17 victory Saturday afternoon over Central Michigan (2-1). The Orange totaled 579 yards and held CMU to zero points over the final two and a half quarters.Here are three things we learned from the game.A special team(s)Brisly Estime led the country with a punt return average of 17.7 yards last year, but SU had only seven yards on six returns through two games this year. Sean Riley bumped the total by returning three punts for 20 total yards on Saturday. His 64-yard kickoff return set up SU’s game-tying touchdown in the second quarter. Syracuse went on to score three more unanswered.Aside from two Cole Murphy kickoffs that went out of bounds, SU thrived on special teams. Redshirt sophomore punter Sterling Hofrichter averaged 51 yards and landed three punts inside the 20. Murphy connected on two field goals, one for 41 yards and one for 25.AdvertisementThis is placeholder text“The special teams I thought was a drastic turnaround from the week before,” SU head coach Dino Babers said. “As much as a negative they were last week, I think they were an extremely positive in this game. That was one of the things greatly in our favor: the way our special teams played.”Third down? No problemSyracuse entered Saturday ranked fifth in the country in third-down defense. SU was no different against the Chippewas, holding them to 3-of-16 on third downs.On the season, SU has held opponents to 7-of-43 on third downs, a 16.3 percent success rate. A mix of varying blitzes and strong coverage on inside receivers forced CMU quarterback Shane Morris — who entered the game 12th in the country in passing — to get rid of the ball quicker, resulting in incompletions or feeble attempts to scramble.“We settled down and got into the flow of the game,” SU captain and senior linebacker Zaire Franklin said. “Third downs all about execution. It’s the most critical down. Guys were locked in on their assignments.”Riley’s returnRiley, a dynamic 5-foot-8, 155-pound sophomore who plays both offense and special teams, kick-started the Orange attack. Down seven, Riley darted for a 64-yard kickoff return. On the same possession, junior quarterback Eric Dungey found Dontae Strickland for a touchdown to tie the game at 17. Riley also made an over-the-shoulder catch on a 44-yard pass from Dungey. On the next play, Strickland snuck up the middle for a nine-yard touchdown.“Man, Sean is lightning fast,” Franklin said.Riley took over Estime’s role of second slot receiver and returns kickoffs last week, with a long of 48 yards. On Saturday, he returned a pair of kickoffs for 89 yards with a long of 64.“Just making big plays,” Riley said.Riley entered the game having returned only five punts for five yards. He muffed a punt against Middle Tennessee State and, three plays later, the Blue Raiders scored the game-tying touchdown. Against Central Michigan, he returned three punts for 20 yards. Comments Published on September 16, 2017 at 9:41 pm Contact Matthew: [email protected] | @MatthewGut21 Facebook Twitter Google+last_img read more