Belle Property

WELCOME. Hello again! I'm Joel from Belle Property Cairns, welcome to my Autumn 2022 Market Update for Palm Cove. The Palm Cove market is still performing well as we progress into 2022, I have certainly still been achieving record results in many of Palm Coves’ apartment buildings. I am still experiencing a high level of buyer enquiry which is leading to most properties selling very quickly. The median house price is $810,000 (up 9.8% in 12 months). An all-time high for the suburb. With 84 recorded home sales in Palm Cove for 2022 – nearly double the 46 in 2020. Autumn Market Report 2022 By Joel Cuman. The median apartment price is now $360,000 (up 3.9% in 12 months) A figure I feel is misrepresentative of the price increase of approximately 15% that I have been achieving for apartments. As an example, I recently sold a dual key apartment in “Mantra Amphora” for $515,000. Which I estimate would have sold for around $440,000 in the 2019/20 market, an approximate 17% increase. There has been 239 recorded apartment sales in Palm Cove over the last year, which is double that of 2021.