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Listing volumes have fallen off a cliff in Cairns which is proving difficult for active property buyers. Many active property buyers would of thought with the recent interest rate rises and the COVID buying frenzy over it’d be a easy time to buy property in Tropical North Queensland.

Image: Redlynch Cairns, listing volumes low

However, this couldn’t be further from the truth right now and it’s leaving many families scratching their heads in disarray.

Online search interest for Cairns on remains very high, days on market still sitting under 50 days, vendor discounting under 3 percent and many listings selling under multiple offers.

The team at Tropical Life Buyers Agency believe this is all attributed to the extreme change in listing volumes and it’s this lack of supply that’s creating agony for home buyers and investors alike.

Image: Palmcove, Cairns listing volumes low 

In 2022, the listing volume from January to March were strong sitting at 820. Now in 2023 it appears to be a different story sitting around 582 a whopping 40% decrease in listing volumes.

Real Estate Agents across Cairns have been struggling with new stock and the team at Tropical Life Buyers Agency know why.

Due to the extremely low vacancy rates still sitting under 1%, many homeowners across Tropical North Queensland are opting not to sell their properties in fear of having nowhere to potentially rent.

In addition, due to the lack of listing volumes many are also fearful of not being able to purchase a new home therefore by default are choosing not to sell.

Lastly, we are seeing many homeowners waiting to see what’s happening with the market and are scared that they may no longer get top dollar for the property so are opting to hold off on selling.

With the lack of stock not able to sustain current demand Cairns and Tropical North Queensland looks likely to surge a head for the remainder of 2023.

Buyers Agent Cairns | Cairns Buyers Agent.

Troyson Bassani

Owner & Head of Research

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