By Herron Todd White
November 2020

The prestige market in Cairns can roughly be defined as properties with a value of over $2 million. There has been very little activity in this sector during late 2019 and 2020. The stand out sale is a property at the northern end of Vasey Esplanade which sold for $5.5 million in October 2019 (settled February 2020). It comprises a 7,585 square metre absolute beachfront site with a north-easterly aspect, developed with a very large, single level dwelling with five bedrooms and six bathrooms with approximately 900 square metres of floor area. The property is considered one of the best blocks of land in Cairns with an amazing view and position

Port Douglas is typically a hot spot for prestige property although there have been few sales in 2020. Buyers typically originate from Sydney, Melbourne or overseas and with COVID-19 restrictions, buyers have not been able to make it to Port Douglas. A sale of note is an impressive home in Beachfront Mirage which sold for $2.21 million in July 2020 (settled August 2020). Situated in a gated beachfront estate with a view over the adjacent golf course, the property is a great example of how far your money goes in far north Queensland in comparison to south-east Queensland.

Mission Beach has been on a bit of a roller coaster ride in recent times with the Mayfair 101 investment and subsequent issues. One sale of note which was 66 one of the homes purchased by Mayfair is this rural lifestyle property just north of the Mission Beach village which sold for $2.53 million in September 2019 (settled December 2019). This is an executive quality lowset home in a very elevated position with fantastic views of Dunk Island.

Once the Queensland state border reopens, it is possible that buyers currently focusing on northern New South Wales and south-east Queensland might consider far north Queensland. The relative value on offer is easy to see. Those who want to escape the conjestion in capital cities can enjoy the superior lifestyle far north Queensland has to offer.

Craig Myers
Director

Speak with a Cairns Mortgage Broker today.