Up $88k in one year: Cairns’ houses defy rate pressure

13 hours ago 3

Sophie Foster

Updated 1 May 2026, 9:42am

First published 1 May 2026, 9:41am

Cairns house values have jumped 12.54 per cent to $741,000, while unit prices climbed a massive 14.28 per cent – a $57,000 spike – to $441,000.

Cairns house prices have surged $88,000 in a year, with units soaring more than 14 per cent as the market defies rising interest rate pressure.

This as the PropTrack Home Price Index, released Friday, saw house values rise 12.54 per cent to $741,000, while unit prices climbed a massive 14.28 per cent – a $57,000 spike – to $441,000.

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Big sales are coming in including 1001/25 Wharf Street, Cairns City – a 2 bed, 2 bath apartment that sold for $1,250,000 on April 29.

PropTrack senior economist Eleanor Creagh.

Overall, Cairns’ dwelling values increased 12.91 per cent, or $78,000, to a median of $658,000 in the past 12 months, which PropTrack senior economist Eleanor Creagh said put the market well ahead of year-ago levels despite recent rate pressure.

“Over the month, Cairns prices fell slightly but that’s obviously following a period of very strong growth, and prices are well above year-ago levels,” she said.

Mr Creagh said there was a chance Cairns could be cushioned from price falls that are expected ahead across the country, with a strong floor under prices supported by buyer demand and relative affordability.

“Its comparative affordability does continue to bolster prices there,” she said, but warned there would be headwinds ahead, especially off any policy changes that impact investors.

“The region has seen a significant lift in home prices in recent years, and we’re seeing potential policy changes at the moment denting investor sentiment, which could also be a factor weighing on homebuying demand in Cairns,” she said.

Lot 89 Tana Heights, Mount Sheridan, sold for $965,000 on April 30.

This house at 12 Olive Street, Manoora, sold for $756,000 on April 29.

“I think it could definitely be vulnerable, particularly with interest rates set to rise as much as they may do this year.”

Ms Creagh warned there could be “around a 10 per cent reduction in borrowing capacity” off interest rates alone depending on how international headwinds impact the country.

Across the state, the strongest gains were recorded in SA4 regions surrounding Greater Brisbane, led by Ipswich, where median home values surged 21.5 per cent to $913,000.

Logan–Beaudesert followed with a 20.7 per cent rise to $942,000, while Darling Downs–Maranoa climbed 20.4 per cent to $557,000. Toowoomba rose 19.9 per cent to $813,000, and Moreton Bay South jumped 18.8 per cent to $1.073 million.

Across regional Queensland overall, dwelling values rose 13.9 per cent over the past year to $832,000, while Brisbane dwelling values surged 17.5 per cent to a median of $1.08 million, highlighting the affordability advantage still supporting markets like Cairns.

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