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In December 2023 Cyclone Jasper drenched Cairns with unprecedented rainfall leading to record breaking Region wide flooding. 50-100 years flood records were broken across Far North Queensland and the aftermath has left a nasty scar across Cairns, Port Douglas and the Tableland Region.

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An aerial view shows flooding caused by heavy rains and water gushing through the Barron River, in Cairns, Queensland, Australia

Looking towards the future, it’s hard to anticipate how Jasper might affect the long-term property market, however the Braintrust at Tropical Life Buyers believe the Cairns property market will surge on in 2024 and expect several suburbs to boom.

The main reason we believe the market is likely to surge on is at a fundamental level there is still a significant imbalance between supply and demand.

New supply levels are almost at a new low and listing volumes have been contracting over the last 3 years. This contraction is caused by a sheer lack of options available for those in a position to sell and the overhanging construction crisis of long wait times and high build costs.

Gone are the days, where you could sell your home and rent another until you find something in Cairns or even renting a dwelling until your new home is constructed, unfortunately that’s just not possible anymore in Cairns with our vacancy rate trends.

Now, because of cyclone Jasper ripping through Cairns, we believe this is likely to impact buyer behaviour and shift buyers to certain non-flood affected suburbs in the immediate future causing these suburbs to boom.

The Tropical Life Team believe that many buyers that who had their hearts set on suburbs such as Clifton Beach, parts of Palm Cove, Caravonica, Holloways Beach, Machans Beach will now look towards buying in suburbs that weren’t flood affected.

Suburb: Machans Beach, during Cyclone Jasper

2024 and beyond, suburbs such Kanimbla, Whitfield, Brinsmead, Bayview Heights, Mount Sheridan, White Rock, Edge Hill and Bentley Park will be the beneficiaries of high demand stemming from both local home buyers and as well interstate homebuyers and investors looking to stay dry from future floods.

All of these suburbs have already recorded double digit house price growth in the last 2-3 years, and this is likely to continue leading into 2024 and beyond.

Most of these suburbs can cater for different buyer segments from the affordable sub $600,000 budget right up to the discerning high roller looking to spend a million dollars or more.

The team at Tropical Life Buyers Agency believe that due to low levels of supply in these suburbs buyers at almost every transaction will find themselves in multi-offer scenarios.

Suburb: Mount Sheridan $800,000 property for sale

So, its important now more than ever that buyers look to gain a competitive advantage in the marketplace and by utilising the services of the team at Tropical Life Buyers Agency that’s certainly one way to do so.

If you need help navigating the Cairns property market, contact us at [email protected] or call 1800 543 328

Buyers Agent Cairns | Cairns Buyers Agent
Troyson Bassani
Owner & Head of Research

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