Douglas house and unit sales down on previous 12 months
PROPERTY SALES
The volumes of house and unit sales in Douglas Shire have dropped significantly over the past 12 months, according to latest figures from leading property researcher CoreLogic.
In its Regional Market Update, released quarterly, CoreLogic says 245 houses were sold in Douglas in the 12 months to April, down 40.3 per cent from the previous 12 months. There were 413 unit sales over the period, dropping by 20.3 per cent.
The nearby areas of Cairns Council recorded lesser percentage drops in sales, of 2,939 houses (-21.4%) and units, 2,068 (-14.7%).
In the ‘Cairns Statistical Area Level 4 region’ (SA4) – which covers from parts of Cook Shire to the north, Douglas Shire, the Tablelands, all of Cairns and the Cassowary Coast region to the south – the overall sales of both houses and units was down 21.9 per cent. The median values over the entire SA4 area in the 12 months were $520,811 for houses, and $326,664 for units.
CoreLogic said that across Australia’s largest 25 non-capital city regions, seven recorded an increase in house values over the year to April 2023, down from 13 over the year to January.
All 25 regions recorded an annual decrease in the number of house sales over the year to February 2023, with the three smallest decreases occurring in Queensland. Annual house sales across Townsville decreased by -1.5% over the year to February, followed by Central Queensland (-6.4%) and Mackay–Isaac–Whitsunday (-11.0%).
In contrast, NSW recorded the three largest decreases in the number of house sales, including Richmond-Tweed (-39.9%), followed closely by Southern Highlands and Shoalhaven (-39.1%), and Mid North Coast (-33.3%).
Houses sold fastest in Toowoomba, Qld over the three months to April, with a median time on market of 21 days, followed by WA’s Bunbury region (27 days).
Units across Cairns (SA4) continued to sell quicker than any other region, recording a median time on market of 20 days over the three months to April 2023, down from 32 days over three months to January. In Douglas Shire, the median number of days on the market was 53 for houses (figure for units unavailable).
CoreLogic – Regional Market Update
Douglas Shire
| Property Sales | No. of Sales | 12 month change | ||
|---|---|---|---|---|
| Median Value | ||||
| Houses | 245 | -40.8% | ||
| $643K | ||||
| Units | 413 | -20.3% | ||
| $405K |
| |||
| Cairns Council Area | ||||
| Houses | 2,939 | -21.4% | ||
| $558K | ||||
| Units | 2,068 | -14.7% | ||
| $326K | ||||
| Tablelands | ||||
| Houses | 538 | -27.5% | ||
| $449K | ||||
| Units | 40 | -11.1% | ||
| $316K |
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