Parramatta Park, Cairns North homes likened to booming inner-city Brisbane

first_imgReal estate agent Cheyenne Morrison believes that Cairns’ inner suburbs will see a surge in prices for Queenslander style residences, like this one he sold on Archie Street in Parramatta Park. PICTURE: BRENDAN RADKEA CAIRNS real estate agent has drawn striking parallels to property in the Far North’s biggest metropolitan centre and that of Brisbane’s most affluent suburbs.LJ Hooker Cairns South sales representative Cheyenne Morrison said Spring Hill, Red Hill, Kelvin Grove, Ashgrove and West End in Brisbane have experienced phenomenal price increases over the past five years.“Even small homes on tiny plots of land are fetching great prices because buyers are attracted to proximity to the city and the cafe lifestyle of these inner-city suburbs,” he said.“Prior to this resurgence the suburbs were not seen as desirable as the houses were mostly Queenslanders, which were seen as requiring too much upkeep. “Now the trend in decorator magazines and among architects is to renovate and modernise these homes, and that style of home is seen as highly desirable. “Kelvin Grove most closely approximates what can be expected to happen in Cairns. “Most of the homes in the suburb are renovated post-war workers’ cottages and Queenslander-style homes. “Hip younger buyers are particularly attracted to Kelvin Grove’s inner-city cafe lifestyle, with its trendy shops, restaurants and cafes.”Mr Morrison said like Kelvin Grove, the majority of blocks in Parramatta Park and Cairns North were 405sq m with 10m frontages.“Because of the size of the block, the houses are invariably two-bedroom, one-bathroom properties which occasionally have an enclosed veranda or sunroom which can function as extra accommodation,” he said. “There are some blocks between 405sq m to 600sq m, but most of these still have two bedroom homes. Just 119 properties in the area are more than 800sq m, which have larger three to four- bedroom homes – roughly 10 per cent of the total houses in the suburbs. More from newsCairns home ticks popular internet search terms3 days agoTen auction results from ‘active’ weekend in Cairns3 days agoBigger homes on larger blocks, which have been raised, renovated and built in underneath usually sold for a premium.“Over recent weeks we have seen increasing interest from southern investors looking for properties close to the Cairns CBD,” Mr Morrison said. “An investors group from Melbourne called me looking to buy several investment properties, particularly in Parramatta Park and Cairns North. “This is a good indicator that there will be increased activity in the market. Having sold 8 Archie St recently, I have cash buyers looking for other houses in the area to purchase.”The best streets in Parramatta Park are Archie, Clare, Denbeigh, Pembroke, and Queen -smaller; quieter streets with lots of character. In Cairns North there is: Law, Cairns, Charles, Lily, and Thomas streets. Mr Morrison said houses on those streets would increase considerably in value compared to houses on busy roads. “Street appeal goes hand-in-hand with that, and a house that has kerb appeal will sell for a lot more than an ordinary house,” he said. “I got more for 39 Grove St than its neighbour 37, which was much bigger, because 39 was so pretty from the street.“Over this year it has become harder and harder to find any property for less than $400,000. There have been properties sold under the $450,000 mark, but they sell quickly.“The great majority of properties fall into the $450,000 -$550,000 mark, with larger homes on the top end of that spectrum.”last_img read more