Cairns

The Smartline Report – October Edition

The month in review: Cairns

By Herron Todd White
October 2016

The Cairns market has slowed in terms of numbers of sales, with sale numbers during 2015 to 2016 as a whole down by about 7% on 2014 to 2015. In addition price growth during the year has been minimal.

Our chart shows the price breakdown for houses sold in Cairns in each price category in 2015 to 2016 compared to 2014 to 2015. It highlights that the majority of house sales remains clustered in the $300,000 to $450,000 price bracket and is relative to a Cairns median house price of precisely $400,000 during the 2015 to 2016 year.

cairns

Cairns House Sale Volumes

House sales during 2015 to 2016 have slowed noticeably in each of the sub $450,000 price brackets and most noticeably in the sub $350,000 price bracket. This is most likely due to a lack of first home buyers and low end investors in the market. However sales overall have increased in the $450,000 plus price brackets as confidence has continued to slowly build in this segment. Sales in the $1 million plus category occurred during 2015 to 2016 across a variety of suburbs, with the highest numbers being observed in Redlynch, Trinity Park, Whitfield and Holloways Beach.

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Please note that information in this publication is subject to change without notice. Smartline assumes no responsibility for any errors, omissions or mistakes in this document. © Smartline Home Loans P/L 1999 – 2016. Australian Credit Licence Number 385325

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