Cairns, Port Douglas, Atherton Tablelands Innisfail and Mareeba

NORTH QUEENSLAND

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The Cairns property market has been full steam ahead from August to November 2022. Our analysis has seen the median house price grow by a total of 1.2% at $674,000 up from $665,000 in August 2022.

Low levels of listing volumes and new supply has been met with high demand despite consecutive interest rate rises and sentiment changes as portrayed in the mainstream media. It’s been well documented that there has been a slow down or retraction in our Capital City markets but in Cairns we have seen the opposite happen over the last 4 months.

The Cairns Northern Beaches continues to drag up the overall median price with Trinity Beach, Kewarra Beach, Clifton Beach and Palm Cove doing a bulk of the heavy lifting. It’s almost impossible now to get a free-standing property in these suburbs for less than $550,000. If you are lucky enough you’ve hit the jackpot or would certainly need to be a handyman or prepared for a renovation project.

Our office is now starting to see a ripple affect across many of the neighbouring Northern Suburbs with home buyers and investors now looking in more affordable locations such as Trinity Park, Smithfield, Yorkeys Knob, Redlynch and Caravonica.

We are also anticipating a spike in demand and rapid house price growth across the inner South as those suburbs present great value for money when benchmarked against the Northern Beaches and Inner North.

At the current rate of new supply and the low listing volumes the Cairns market looks all but set to surge on.

For a full breakdown of what’s been happening in the Cairns Property Market, watch our Market Update for November. Click on the link below to watch our 35-minute market breakdown covering the supply and demand metrics.

https://fb.watch/hROJuQAJOu/

Troyson Bassani

Founder & Head of Research

Tropical Life Buyers Agency 

 

 

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