Port Douglas / Mossman Blog

The  greater Port Douglas Real Estate property market over the past year has been very interesting to say the least. Basically, the wheels fell off when Corona Virus hit in March of this year. Buyers were no longer, and vendors were very worried. Then over the next few months we slowly saw things start to change. Once the greater population started to understand the world that we now lived in. Obviously international travel had ceased to exist, and domestic travel (once the borders open) would become the new trend. Hot spots were always going to be the warmer climates such as ours for our southern cousins to escape from the cold. They also learnt that you no longer have to live in the city to work. This then sparked a lot of inquiry from people who have been thinking of moving to places like our beautiful region. What will happen in the coming months and over the next year or so will be that tourist accommodation will fill, therefore giving investors a greater return on their investments and show greater yields. Higher yields will obviously show an increase in sale prices. Following on from our Air BnB and Stayz blitz over the past few years which saw a lot of residential property taken out of the marketplace which brings supply and demand into play. Although these properties have certainly been hit hard they will be back in force when the borders open. At this stage the inquiry level on property has certainly increased and we have not seen any dramatic growth yet slow and steady. Port Douglas’ newest land sub-division  New Port Estate was released this month with 17 of the first 32 lots having expressions of interest placed on them. As more and more people realize that you don’t have to live in the city’s with the increased exposure to the virus and you can live in paradise, we will see a fairly large southern migration take place.