Demand for rental properties has risen in Cairns with reduced vacancy rates across the region and Queensland and median house sale prices have fallen in the same period, according to two separate reports.
The Real Estate Institute of Queensland (REIQ) released the March residential vacancy rates on April 30 that showed Cairns rental vacancies have dropped by 1.3 per cent since this time last year.
REIQ Cairns chairman Greg Clyde-Smith described the property market as “reasonably healthy”.
“Cairns has quite a different economy from the rest of the state but the figures revealed are not that different – from 3.8 (per cent) last year to 2.5 per cent this year, it’s a substantial drop,” Mr Clyde-Smith said.
“We are showing signs of growth as tourism is slowly starting to recover.”