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Manoora homes snapped up quickly as investors see value for money


Manoora homes snapped up quickly as investors see value for money

Manoora homes snapped up quickly as investors see value for money

Queensland


01/04/2017, 6:00 am


01/04/2017, 6:00 am

Hayden Smith
Cairns Post Real Estate Reporter Hayden Smith is a long-term renter, and while his first mortgage is many moons away, he has a passion for real estate journalism and keeping an eye on local market trends. He thinks every Far North backyard can be fashioned into a cricket pitch – no matter how small or obscure it may be.

9 Silkwood Cl, Manoora

9 Silkwood Cl, Manoora.

A NEAT Manoora home that was snapped up in a fortnight for under $300,000 highlights growing investor interest in the western Cairns suburb.

Data released by realestate.com.au shows the fastest-selling suburbs nationwide during the six months to February 28.

Manoora tops the list for Cairns houses, with properties staying on the market for an average of 58 days.

The data is based on the number of days properties are advertised on realestate.com.au.

A three-bedroom home on Silkwood Cl, Manoora, was sold last December by RE/MAX Cairns for $293,000.

“We had it under contract within two weeks, it was picked up by a local investor,” said selling agent Ray Murphy.

“It all comes back to pricing; if properties are well priced they will be far more likely to sell.

“Manoora is a very affordable suburb close to the city; some of its areas are good while others don’t have the best reputation.

“The suburb caters for first homeowners, growing families and investors.

“There have been great turnouts at open homes and auctions in Manoora, mainly because it’s just so affordable and attractive for investors.”

Manoora is followed by Kanimbla (60 days), Redlynch (63) and Bayview Heights (65).

Mr Murphy said Kanimbla and Bayview Heights appealed to a “very different market”.

“These are areas that mainly cater for families, with a lot of the sales driven by emotion,” he said.

When it comes to unit sales, Parramatta Park tops the list with an average of 42 days on the market. Trailing the inner-city suburb are Edge Hill (43 days) and Bungalow (48).

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Source: real estate news and property market realestate.com.au