Cairns July 2018

The month in review: Cairns

By Herron Todd White
July 2018

A $500,000 property investment in Cairns will secure a well located modern executive style suburban dwelling, or alternatively an above average quality apartment in the Cairns CBD, located on the mid to upper levels of a high rise unit development. Indeed the purchaser or investor at this price level would find a large range of sectors, styles and locations available to choose from. However it remains difficult to spend $500,000 on a new apartment due to the absence of new unit construction at that level.

The $500,000 mark in the Cairns market is relative to the current (May 2018) median price trend levels of approximately $403,000 for houses and $216,000 for apartments. Median price trends are continuing to demonstrate flat market conditions. Over the latest twelve months, 75% of houses and 93% of apartments sold in Cairns have transacted for $500,000 or less.

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DISCLAIMER: The information contained in this article is correct at the time of publishing and is subject to change. It is intended to be of a general nature only. It has been prepared without taking into account any person’s objectives, financial situation or needs. Before acting on this information, Smartline recommends that you consider whether it is appropriate for your circumstances. Smartline recommends that you seek independent legal, financial, and taxation advice before acting on any information in this article.