The Port Douglas property market has experienced some significant change over the past 12 months. As the country is slowly returning to normal after Covid and interest rates have increased over the past few months, the state of the Douglas Shire market has shifted quite a bit since we last provided our Port Douglas property outlook for 2022.  

At Property Shop Port Douglas & Mossman, we pride ourselves on providing expert insight into how the local property environment currently looks, and what trends we expect to impact the market in the near future. Our team of property experts, led by our Principal Alan Crossman, are here to help you make informed choices about buying, selling, investing, or renting in the Port Douglas real estate market.  

Port Douglas’ Current Property Market Outlook  

We are now well and truly into the second half of 2022, and there has been a lot of movement in the Port Douglas property market in that time. Here is the current real estate markets outlook for the Douglas Shire.  

Properties Sold  

There have been a lot of properties sold in Port Douglas over the past 12 months, as owners have taken advantage of their properties’ increased value to sell with a very healthy capital gain. Sales in the town of Port Douglas have been particularly strong, with many houses selling for a good price after only a short time on the market.  

Port Douglas PropertyProperties for Sale  

All of this sales activity has reduced the number of Port Douglas real estate houses for sale by up to 30% as compared to a year ago. Despite this drop, there are still dozens of listings in Port Douglas, and well over a hundred when including the towns of Mossman, Cooya, Newell, Wonga, Daintree, and Julatten.  

Properties for Leasing  

Long term rental properties in Port Douglas have increased in price due to the limited supply and demand factors. This increase in net yield for rentals has attracted more and more buyers to the region. Tenants who aren’t on long-term leases are also looking to buy property to avoid the skyrocketing rental prices and uncertainty around living in a property that may be sold in the near future.  

The Impact of Tourism  

Tourism has returned to Port Douglas in a big way since Queensland has re-opened its borders to both interstate and international tourists. This has affected local businesses who are facing problems recruiting the necessary level of staff to meet this increased demand. A lot of the time, a lack of nearby accommodation is the biggest hurdle that Port Douglas businesses face when trying to hire new employees. To solve this problem, more and more business owners are buying their own residential properties to house new staff.  

Port Douglas Property Market Outlook 2022 – 2023. 

When looking ahead for the rest of 2022 and into 2023, the Port Douglas property market will experience some slowdown from the recent increases in interest rates. This development has already had an impact on house prices across the southern states, and these trends typically make their way up to Far North Queensland after a year or so.  

The Queensland State Government has also introduced new legislation which will require some interstate buyers to pay more stamp duty when purchasing property in this state. Understandably, this will deter some interstate buyers from investing in Queensland.  

Finally, there is currently some resistance from buyers to purchase high-end properties in Port Douglas. This is very much dependent on the quality of the properties within this top bracket, but some adjustments to pricing may be required in certain circumstances.  

Get in Touch  

Overall, the real estate market for Port Douglas, Mossman, and the surrounding region is expected to tick over steadily across the next 12 months. If you are looking to buy, sell, or rent in this market, then you can trust the local property experts at Property Shop Port Douglas & Mossman. Contact our friendly team today on 07 4099 5355.