Cairns City - February 2025

CAIRNS CITY February 2025

Property Trends & Insights Cairns City New Market Stats 2025 Forecast For Cairns + MORE

Karen Hartley - Representing homeowners and investors in the Cairns property market for 25 years Karen is committed to assisting her clients with her experienced market knowledge in residential sales, asset management and business development.

properties, looking after her clients and buyers, happily living the relaxed and perfect tropical lifestyle in beautiful Cairns!

Karen sees her role as agent to give unconditional support guiding her clients throughout the sales process with enthusiasm, confidence, experienced advice and exceptional service at all times.

Presentation, clear communication, professional and thorough, she will be alongside you every step of the way, making the process as easy as possible for you!

Karen has been an active member of the community involved in many committees and sporting/corporate events in the area over the years.

Enjoying what we all come to North Queensland for, Karen spends her days working amongst beautiful

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Cairns City Real Estate Report

Karen Hartley Twomey Schriber Property Group 0438 324 207 karen@tspropertygroup.com.au

WHY TWOMEY SCHRIBER? 2024 Statistics

568

Properties sold

$320.3m 13

Value of properties sold

Median days on market

18,310

Enquiries received

4,047

Active buyers

6,807

Open home attendees

17

Sales team members

250+ 13%

Combined years experience

Top market share in Cairns

Twomey Schriber Property Group

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PROPERTY TRENDS AND INSIGHTS Reflecting on Cairns in 2024 The expectation at the start of 2024 was that the market would continue to perform strongly throughout the year, and this was proven to be an accurate forecast. Underpinned in the main by a lack of stock, either to buy or to rent, and southern buyers seeking to relocate to Cairns or invest, most sectors of the market delivered value rises throughout 2024.

The emergence of the buyer’s agent in the Cairns market during 2024 has surprised our valuers and local real estate agents alike. Although they have long been active in most southern markets, they are a relatively new player in the Cairns market. Most buyers’ agents are based in southern capitals where their clients are located, however we are now starting to see some locally based agents. In the Cairns southern corridor, they are involved in a high percentage of deals sub $700,000 with their southern based investor clients the main driver of the continued strong market in these localities.

Our valuers on the ground advise that there are no signs of the market slowing and typical sub-$700,000 stock will continue to perform for as long as southern investors are active in the market. This price point represents a sweet spot in the market where investors see rental and return growth with manageable debt in a very tight rental market.

Source: Herron Todd White, Reflecting Cairns 2024, Danny Glasson, Director

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Cairns City Real Estate Report

CAIRNS CITY Unit Sales: 2024

130

Units sold

Highest Sale

Lowest Sale

$1.83m $120k

CAIRNS CITY NEW MARKET STATS

$518,000

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Median sales value

Median sale days on market

7.1%

11.3 years

12 month change

Average length of ownership

47.6%

$590pw

5 year change

Median asking rent

SALES ACTIVITY

Twomey Schriber Property Group

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POPULATION GROWTH OF CAIRNS Cairns is Queensland’s 5th most populated city with a population over 150,000. Two thirds of Tropical North Queensland’s population growth is accommodated within the Cairns Region.

Based on research, Cairns population will reach 160,779 by the end of June 2025. Looking back at the last 13 years of Cairns’ population, the growth rate is very consistent and strong, ranging from 0.56% to 1.74%, adding around 838 to 2,505 people each year to the overall population.

The reasons contributing to the population growth is that tourism is consistently strong over the years. Tourism creates a lot of job opportunities in Cairns. On the other hand, relaxed living style also attracts retirees living here.

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Source: Population Australia

2025 FORECAST FOR CAIRNS Growth Forecast: 7% to 11% Vacancy Rate: 0.9% Stock On Market 3 Year Change: -31% Propertyology’s Head of Research, Simon Pressley said…

“Cairns population grew faster than six of eight capital cities across the last two decades.

Over the last five years, the property market in tropical North Queensland produced 60% capital growth (the same as Sydney, and more than four other capital cities). Cairns real estate is expected to boom in 2025.

Rental accommodation is so tight that rent prices have increased $100 per week over the last two years.

Housing demand is underpinned by strong sectors such as Health, Construction, Defence (Navy) and Tourism.

The healthy project pipeline includes a $60 million airport upgrade and $91 million stadium development.”

Source: Propertyology

Twomey Schriber Property Group

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ANNUAL EVENTS & MAJOR PROJECTS Major sporting and cultural events inject $31 million into the Cairns economy Events such as Crankworx, Ironman and Shine on Gimuy helped inject more than $31 million into the local economy in the previous financial year.

A report tabled at 6th November 2024 Council ordinary meeting outlined the economic benefits of 11 events delivered with the support of $1.47 million from Council’s Major Events Sponsorship program.

Event supported in 2023/24 included 7 Cairns Marathon; Queensland Pool Rescue Championships; NRL Premiership match between South Sydney and St George; Reef to Reef; Cairns Amateurs; Cairns Tennis International; Port Douglas Gran Fondo; Shine on Gimuy; UCI Masters Mountain Bike World Championships; Crankworx Cairns; and Ironman Cairns.

The events delivered an estimated total economic impact of $31.2 million, achieved through attracting 22,721 visitors and over 108,000 visitor nights.

Source: Cairns Regional Council

Read The Full Article

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Other Major Events & Projects

CRUISE SHIP CALENDAR Discover when the beautiful cruise ships from all over the world are visiting the Port of Cairns and other regional ports.

The schedule provide each ship’s planned movements for each month, their length of stay and other details including passenger numbers and shipping agents.

Thinking of your next holiday, then maybe jump on board one of the departures out of Cairns!

View The 2025 Cruising Calendar Source: Cairns Port Authority

Twomey Schriber Property Group

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URBAN PLANNING On The Horizon: Cairns Economy Thrives With Billion Dollar Boost MEDIA RELEASE The Cairns economy is growing, with a $1.66 billion uplift since 2020.

Council today noted the progress on its 2022-2026 Economic Development Strategy, which has helped steer the region’s economic output to an impressive $11.46 billion.

The city’s job market is also thriving, with employment up to 88,563 jobs reflecting nearly an 8% increase in jobs from 2020.

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Cairns City Real Estate Report

The report highlighted the significant pipeline of major projects to be delivered in the Cairns region in coming years.

Councilors recently toured the Cairns Marine Precinct in Portsmith, where they saw firsthand how investments in the proposed Common User Facility, shipyards and defence sector are laying the groundwork for even more growth.

Mayor Amy Eden said a focus on diversifying the economy continued to drive growth.

“Cairns has always been more than just a gateway to the Great Barrier Reef,” she said.

• “Our aviation, marine, health, education and defence industries are showing just how essential diversification is to • the future growth and resilience of • our economy - creating skilled jobs, strengthening our supply chains, • and providing opportunities for small businesses.

“With plans to further tap into green industries and expand investment opportunities, Cairns is well on its way to hitting its $13 billion economic target.”

• •

During the reporting period, Council • sponsored 12 major events which delivered a $31 million economic impact through visitation to the region.

With $384 million - 88% of Council’s total expenditure - spent with local businesses, that’s a $46 million boost from last year.

• • •

Current major projects planned or under construction include: • • • • •

Cairns Water Security – Stage 1 Project Bruce Highway, Cairns Southern Access Corridor, (Stage 5) Foster Road Captain Cook Highway upgrade (Cairns Central Business District to Smithfield) Cairns Western Arterial Road, Redlynch Connector Road to Captain Cook Highway Kennedy Highway (Cairns to

• • • • • •

Mareeba) and Kennedy Highway (Mareeba to Ravenshoe) upgrade intersection Kennedy Highway (Cairns to Mareeba), Barron River bridge, preconstruction Cairns Southern Access Cycleway Cairns South State Development Area Aviation Precinct Expansion, including Eastern Precinct, Common User Facility and Composites Hangar Cairns Airport International Terminal Refresh Cairns Marine Precinct Expansion including HMAS Cairns Upgrades and Common User Facility Far North Queensland Health and Innovation Precinct, including James Cook University’s Cairns Tropical Enterprise Centre Cairns Hospital Mental Health Unit Cairns Hospital Emergency Department expansion Cairns Hospital expansion, including 96 additional beds and a new surgical centre and the planned Cairns Health and Innovation Centre Cairns Ambulance Station and Operations Redevelopment CQUniversity’s proposed new City Centre Campus Great Barrier Reef International Marine College Expansion Wangetti Trail The Palms Master Planned Estate Major Events Precinct development including Olympic Legacy Upgrades at Barlow Park.

Published: 11th September 2024 (Note information was correct at date of publication but may have since been changed or superseded).

Twomey Schriber Property Group

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UNLOCK YOUR PROPERTY’S POTENTIAL WITH KAREN Cairns City’s property market is seeing strong demand with many buyers actively searching for their dream home. Now is the ideal time to find out what your property might be worth.

CLICK HERE and enter your address for an instant Digital Property Report that highlights your market value including recent sales, rental history, suburb report and more.

karen@tspropertygroup.com.au 0438 324 207 320 Sheridan Street, Cairns North QLD 4870 www.tspropertygroup.com.au

Data taken from CoreLogic and other sources we assume to be reliable as at 12/02/2025. We assume no responsibility or liability for any errors or omissions in the content. The information contained in this document has no guarantees of completeness, accuracy, usefulness or timeliness. Clients should not act solely on the basis of the material contained in this newsletter. Items herein are general comments only and do not constitute or convey advice per se. The newsletter is issued as a helpful guide to clients and is for their private information. Every effort is made to ensure the contents are accurate at the time of publication. We take no responsibility for any subsequent action that may arise from the use of this newsletter.