Corelogic issue a quarterly Regional Market Report that focuses on some of the larger regions outside of the Australian capitals. Here are the latest stat’s on the Cairns region through to March 2018:
Cairns home values have seen little change over the year to March 2018, with the current median value for houses across the region increasing by just 1.2 per cent, while the median unit value fell by -1.2 per cent. Sales activity fell -2.6 per cent over the year, with 5,402 dwellings transacting across the region over the 12 months to February 2018. The median advertised rental rate for houses across Cairns increased by $15/week over the year to March, while rental rates for units have increased by just $5/week over the same period. Houses across the region are selling 4 days faster on average for houses while a typical Cairns units is selling 3 days faster when compared to one year ago. Average vendor discounting levels have fallen over the same period.
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