Manoora: the fastest-selling Cairns suburb for 2015
NVESTORS can’t get enough of Manoora as it becomes one of the quickest-selling suburbs in Queensland.

Cairns was the on average, homes there sell within 33
days of being listed which is the third-fastest suburb for sales in Queensland,
after Teneriffe (28 days) and Nudgee (32 days) in Brisbane. Affordability and
proximity to Cairns City appears to be driving the speedy sales. Lena Ogilvie
and her husband Matthew bought their quirky Queenslander on Reservoir Rd in
2008 and are now selling to buy a larger house.

Despite being warned about buying in an “M” suburb
because of crime rates, Mrs Ogilvie said she was unfazed by the arguable
reputation.“You hear a
lot of bad things about Manoora, but we’ve never had any drama,” she said. “We’ve
never been broken into .“It has been a really happy house for us. We love
living here because it’s close to the city and it doesn’t take long to get to
the southern suburbs or to go north.”

The new parents have been investing in the suburb in the
past two years amid a steadily growing median house price. “We are happy with
what price we should get,” she said. “This house was a Queenslander that was
relocated here and they raised it and built underneath .“The old owner was a
builder and he put a lot of stainless steel and wood throughout the property.”

Agent Karl Latham said the house was “cool and quirky”,
low-maintenance and had a lot of character. He said Manoora was rapidly
becoming known among investor circles for its “cheap real estate”. “I think
it’s the affordability of it. You are in a suburb which is very close to the
city,” Mr Latham said. “There are plenty of homes there under the $300,000 mark
and there are not many homes under that mark in Cairns. And with the rents at
the moment ... investors are buying into it.”

Mr Latham said another house on Reservoir Rd sold in 35
days and a property in Silkwood Close was recently put under contract within 23
days. “It was marketed for $310,000 and we sold it for $307,000. It took 23
days and we had five offers,” he said. “It was renting for $350 a week. The
returns are pretty good – a local investor bought it.”

There are about 17 houses in the suburb currently for
sale ranging from $235,000 to $520,000.

According to the December RP Data Market Trends ­report,
Freshwater ranked ­second in the selling stakes with a turnover of 39 days,
followed by Caravonica and Edge Hill houses at 42 days