STRONG VALUE IN BRICKS AND MORTAR

THE southern migration to the Far North is pushing up prices in some of our most desirable suburbs and locations, despite a cooling of the property market in Australia’s capital cities.

Homeowners across the Cairns region are still enjoying steady price growth, with CoreLogic data revealing the average median house price across the city ballooned by 13 per cent over the past year alone.

That’s not a bad return considering the typical growth in recent times has been 2.7 per cent year on year, according to the company’s head of research Tim Lawless.

But the global pandemic, harsh lockdowns in Melbourne and Sydney last year and a shift to mobile working has seen buyers still aggressively target the tropics.

And why wouldn’t they? In sought-after suburbs like Trinity Beach and Redlynch there have been price rises of 4.6 and 4.2 per cent respectively in the last quarter, nudging their median to $651,773 and $645,023.

Craiglie, south of Port Douglas, has also increased to $622,000.

While that might sound expensive if you live in Cairns or haven’t entered the property market, consider the proposition for a Melbourne buyer.

Homeowners in the Victorian capital have seen a ridiculous price jump of 35 per cent since 2019, with the median now sitting at $1.1m.

Escaping the cold winter, selling up, cashing in and buying a bigger home for half the price next to the Great Barrier Reef, with 29C weather year round and swaying palms in your backyard is a tantalising option.

There’s huge lifestyle appeal for city dwellers keen on the tropical coast in Cairns, and homes are still affordable in comparison.

It should mean the great northern push continues for a while yet, which is good news for owners and sellers. Mark Murray

Reporter