MOOROOBOOL
6 Monthly Property Report: July - December 2024
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Brought to
by Karl Latham
YOUR PROPERTY MARKET REPORT
“...Cairns is at 10 o’clock on the residential property cycle, indicating a rising market.”
Sold by Karl Latham
The Cairns property market showed strong recovery in 2024 following the floods, particularly in the southern corridor, where properties in the $500,000–$700,000 range have been highly sought after by investors. More than 50% of Cairns suburbs saw double-digit median price growth, especially in the 4870 postcode, while Palm Cove experienced an almost 20% decline.
Units performed exceptionally well, with some suburbs like Bungalow seeing up to 37% growth. The rental market remains tight, with vacancy rates as low as 0.2% at the beaches and 4% in Smithfield, well below the balanced market level of 3%.
Rental yields range from 4.6% to 6% for houses and 6% to 8% for units, attracting many investors.
Looking ahead to 2025, the Cairns economy is strengthening due to major infrastructure, healthcare, and commercial developments, leading to job growth and increasing population demand. The real estate market is expected to continue rising, with
Herron Todd White placing Cairns at 10 o’clock on the residential property cycle, indicating a rising market.
However, with the federal election expected around April–May, the market may experience a temporary slowdown. Sellers are advised to carefully consider timing when listing their properties.
For further insights or selling advice, I encourage you to reach out.
Karl Latham Twomey Schriber Property Group
0403 887 645
karl@tspropertygroup.com.au CLICK HERE to watch my full Cairns property market update on YouTube.
MARKET TRENDS: HOUSES
$622k
Median house value
117
13.2%
Number of sales 17 Median days on market $540pw Median rent for houses
SALES ACTIVITY: HOUSES
MARKET TRENDS: UNITS
$409k
Median unit value
49 Number of sales
21.8%
The above stats are calculated over a rolling 12 month period. The median values are then compared with the results from the same period 12 months ago. Data taken on 30/01/2025
2024 Statistics Properties sold 568 $320.3m
Value of properties sold
13
18,310
4,047 6,807
17
Median days on market
Enquiries received Active buyers
Open home attendees Sales team members
250+ 13%
Combined years experience Top market share in Cairns
WHAT
IS YOUR PROPERTY WORTH?
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Cathy Karl Andrea
I’m incredibly happy with the service I received from Karl and his entire team for the sale of my investment property. He was a great communicator through the process, has access to the best trades where needed and has a proven track record of success.
Wouldn’t hesitate to recommend him for the sale of your property.
320 Sheridan Street, Cairns North QLD 4870
Email: karl@tspropertygroup.com.au Mobile: 0403 887 645 Website: www.tspropertygroup.com.au