The Cairns real estate market has seen another dynamic week, with auction and sales results for the period ending April 25 showcasing strong buyer activity and a resilient property sector. Agents report a clearance rate of 68%, reflecting sustained demand across residential properties, particularly in the suburbs of Edge Hill, Manunda, and Trinity Beach. The median house price in the region now sits at $520,000, up 3.2% from the same time last year.
Top Sales of the Week
Leading the sales chart was a four-bedroom home at 12 Ocean View Drive, Trinity Beach, which sold under the hammer for $1.35 million. The property, featuring modern renovations and ocean views, attracted multiple bidders. Another standout was a three-bedroom unit at 45 Lake Street, Cairns City, fetching $480,000, well above the reserve price.
Auction Clearance Rates
According to local agency Ray White Cairns, the clearance rate for the week was 68%, with 22 out of 32 properties selling. This is slightly above the national average, indicating a healthy local market. Unit and townhouse auctions performed particularly well, with a clearance rate of 72%.
Market Trends
Real estate experts note that first-home buyers remain active, driven by government incentives and low interest rates. However, investor activity has slowed slightly due to rising rental yields and tighter lending criteria. The rental market remains tight, with vacancy rates below 1% in popular suburbs, pushing up rental prices.
Suburb Spotlight: Edge Hill
Edge Hill continues to be a hotspot, with a median house price of $590,000. A recent sale at 8 Hillcrest Street achieved $675,000, highlighting the suburb's appeal for families seeking proximity to schools and parks. The area has seen a 5% price growth over the past quarter.
Outlook
Looking ahead, agents expect the market to remain competitive through winter, with limited supply and steady demand. The upcoming federal budget and potential interest rate changes will be key factors to watch. For now, Cairns real estate remains a solid investment choice.
For a full list of auction and sales results, contact local agents or visit the Cairns Post real estate section.
