THE median house price in Port Douglas is rising to levels not seen since before the global financial crisis.

Confidence has returned to the housing market on the back of booming domestic and international visitor numbers, and development activity.

Callum Jones, from The Pink Company in Port Douglas, said prices were gradually returning to ‘the strongest years’ of a decade ago.

“Confidence has returned and is key, not just in regards to real estate,” he told Newsport.

“I am finding people are generally in a much better place financially today than they were three years ago. Port Douglas, being a tourist town, thrives on numbers and the village has a great busy vibe about it as it did throughout last year.”

This has resulted in a surge across all areas of real estate in Port Douglas, be it residential sales and rentals, investments, lifestyle or commercial properties.

The current median house price is $504,000, which is expected to build toward the pre-GFC levels of around $570,000.

“People were missing out on properties, and this was driving demand and pricing,” Jones reflected on the 2006-2007 boom.

“We all know what happened in the later parts of the decade with the GFC. There was zero confidence and the first thing to go was the boat and the investment property.”

Multi-million projects, such as the Sheraton Mirage refurbishment and the proposed marina development, had also booted confidence.

Mark Flinn, from Ray White Port Douglas, said 2016 was a bumper year for selling and the market was showing no signs of slowing down.

“I have been selling for 15 years in Port Douglas and it was one of the best years in turnover of amount of sales which is a great sign,” he said.

“It’s looking as good as last year if not better. I think the thing that may back it down a little (from last year) is the housing stock levels are low, and the fact we don’t have any new land releases in Port Douglas.”

Jones said the greater Douglas Shire region would benefit directly from the improving strength of the Port Douglas market. The increased demand for land is also likely to continue to push prices up.

“In real estate all the outlying areas are fed directly off the Port Douglas prices, so as demand increases in town it will flow on to areas such as Mowbray, Mossman, Cooya, Newell, Wonga, and Oak Beaches.”

“There is only a few handfuls of vacant parcels of land left (in Port Douglas) and this is driving demand and confidence.

“This time around it will be a situation where the increased demand for land will ensure prices will continue to slowly build.” 

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