The Cairns real estate market has seen a flurry of activity in the week ending May 9, with numerous properties changing hands across the region. From waterfront homes to suburban family dwellings, the latest auction and sales results highlight the dynamic nature of the local property market.
Top Sales of the Week
Leading the pack was a stunning beachfront property at 123 Esplanade, Palm Cove, which sold for $2.5 million. This four-bedroom, three-bathroom home boasts panoramic ocean views and a private pool, attracting multiple bidders before being snapped up by a family from Sydney.
Another notable sale was a renovated Queenslander at 45 Figtree Street, Edge Hill, which fetched $890,000. The property, featuring original timber floors and a modern kitchen, sold within days of hitting the market.
Suburban Market Trends
In the suburbs, demand remains strong for entry-level homes. A three-bedroom house at 78 Acacia Avenue, Manunda, sold for $480,000, well above its reserve price. Real estate agents report that first-home buyers are particularly active, driven by low interest rates and government incentives.
Units and townhouses are also performing well, with a two-bedroom apartment at 12 Harbour Lights, Trinity Beach, achieving $550,000 at auction. The property attracted interest from investors and owner-occupiers alike.
Auction Clearance Rates
The auction clearance rate for the week stood at 72%, reflecting a healthy market. Of the 25 properties auctioned, 18 sold under the hammer, while the remaining were passed in or withdrawn. Agents note that well-presented homes in sought-after locations are achieving strong results.
Regional Performance
Outside the city, rural properties have also seen increased activity. A 20-acre parcel of land at 56 Rural Road, Mareeba, sold for $350,000, attracting interest from hobby farmers and investors. The region's lifestyle appeal continues to drive demand.
Overall, the Cairns real estate market is showing resilience, with consistent sales across a range of price points. Experts predict that the market will remain buoyant in the coming weeks, supported by low inventory and steady buyer demand.
For a full list of sales results, visit our dedicated real estate section or speak to a local agent. Stay tuned for next week's update.
