Cairns - Far North, Queensland
The Cairns property market has been underscored by affordability and low vacancies for the last few years and now, as its economy regains strength, it is preparing itself for growth.
The Cairns economy, once centred around tourism and sugar, is gaining breadth and depth as it builds on the diverse range of other sectors, including healthcare, agriculture, education, defence, construction, mining and information technology.
Driven by both public and private investment, around $1.3 billion in major infrastructure is either under construction or due to start this year. Of particular note is the unemployment rate which is well below the state average.
Five priority projects, when completed, will facilitate growth in most sectors of the economy while the Queensland Government has declared an 856ha site at Wrights Creek a State Development Area.
All this activity is providing Cairns with a promising future as an economy and from this arises prospects for real estate consumers.
A solid economy, affordable properties, good rental returns and prospects for future growth are encouraging aspects for investors.
This report covers the Cairns LGA including the towns / suburbs of Bayview Heights, Bentley Park, Brinsmead, Cairns City, Cairns North, Edge Hill, Gordonvale, Kewerra Beach, Manoora, Manunda, Mooroobool, Mt Sheridan, Smithfield, Palm Cove, Parramatta Park, Trinity Beach and Whitfield.