Most Cairns buyers pick a side early. Up north, it’s the beaches and the resorts along the Captain Cook Highway. Down south, it’s bigger blocks and a growth corridor that keeps getting busier.
This fortnight we've done something a bit different. Three listings from the Northern Beaches, three from the southside, with similar budgets side by side where we could find them. You can see what the same money buys on the opposite sides of town.
But first, a quick update on the numbers. The Reserve Bank lifted the cash rate (the rate lenders follow) to 4.85% last Tuesday, and price growth in the north is slowing.
Two ends of town
Rents are still rising right across Cairns. The Cairns Economic Monitor has the median two-bed unit at $575 a week, up 11% on a year ago. Vacancy nudged up to 1.0% in September, so renters have a bit more choice than they did over winter.
Our rent rule, updated. After last week's rise, a property needs about $104 a week in rent for every $100,000 it costs just to cover the interest.
Last edition it was $100. That assumes an 80% loan at 6.75%, interest only, if lenders pass on the full rise. Body corporate, rates and insurance come on top.
Up north: three on the beaches
1131-1132/123-127 Williams Esplanade, Palm Cove
Offers over $1,195,000
3 bed · 2 bath · 2 car |
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A dual-key apartment at Peppers Beach Club on the Palm Cove Esplanade, set up for holiday letting from day one. You get a two-bed apartment plus a separate studio, a rooftop terrace with its own plunge pool, and it’s sold furnished.
At $1,195,000, our rent rule says it needs about $1,241 a week to cover the interest. The listing mentions a strong income history in the Peppers letting pool and invites buyers to ask for the details.
Listed by The Ray Murphy Team, Ray White Cairns Beaches.
A beachfront lifestyle buy that is set up to earn income from day one. Ask the agent for the letting statements to see how much.
14/32-36 Trinity Beach Road, Trinity Beach
Offers over $489,000
2 bed · 2 bath · 1 car |
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About 300m from the Trinity Beach Esplanade, you’ll find this dual-key apartment. It's a one-bed apartment plus a studio, each self-contained, so you could live in one and let the other.
The agent estimates permanent rent of $790 to $850 a week for both. That's a gross yield (the year's rent as a share of the price) of 8.4% to 9.0%. Our rule needs about $508 a week, so it clears it well.
The listing also quotes holiday-letting income of $53,000 a year, before body corporate and rates. Ask for those two costs so you can compare both options fairly. We also liked that the listing says plainly there's no pool view.
Listed by Ray White Cairns Beaches.
For a downsizer who wants to wake up to the beach, or anyone after a weekender out of town.
4/65-75 Vasey Esplanade, Trinity Beach
Expressions of interest
3 bed · 2 bath · 1 car |
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This renovated three-bed villa over two levels in Coral Sands Beachfront Resort is just steps from Trinity Beach. It's 167m² inside, which is big for a resort unit, and it comes furnished with ocean views.
There's no price guide, as it's selling by expressions of interest. The listing doesn't give body corporate or letting figures. Fees can vary a lot between resorts, so if you’re interested, ask for the levies early.
Considering this is a beachfront site, check council's storm-tide maps and get an insurance quote on the address before you make an offer. Also ask the agent how the property and resort have fared in previous weather events.
Listed by Claire Cocks, Belle Property Cairns.
The opportunities are endless. Whether you’re a downsizer who wants to wake up to the beach and never mow again or looking for a weekender out of town.
Down south: three on the southside
11 Whitewood Close, Mount Sheridan
Price guide $1,200,000 to $1,300,000
4 bed · 2 bath · 600m² |
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A modern four-bed home high on the hillside in Mount Sheridan, with mountain and valley views and no rear neighbours. There's an inground pool, solar panels and a workshop.
The guide is $1.2 million to $1.3 million, and a clear range like that helps buyers. The bottom of it is within $5,000 of the Peppers unit up north, so it's a fair look at what that money buys at each end of town.
On a hillside block, ask about the driveway, retaining walls and how much of the yard is flat.
Listed by Michelle Champion, Champions In Real Estate.
A view and a pool for the family, at Palm Cove money.
7 Wentworth Close, Bentley Park
Offers over $770,000
4 bed · 2 bath · 970m² |
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A fully fenced family home on 970m² in Bentley Park, with a pool, a big patio and a powered workshed. There's double-gate side access, so the boat or trailer can go down the side.
That's a lot of yard for offers over $770,000. If you ever rented it out, our rule says it would need about $800 a week. The listing has no rent figure, so ask the agent for an appraisal if that matters to you.
The listing mentions a converted double garage. As with any conversion, ask whether it was approved and where the cars go now.
Listed by John Ryland, Professionals Cairns South.
Room for the kids, the pool and the tinny.
5/5 Balaclava Road, Earlville
Offers over $379,000
2 bed · 1 bath · 1 car |
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A two-bed townhouse in a small complex of nine in Earlville. It's the southside answer to the Trinity Beach dual key, about $110,000 cheaper.
The guide has been updated to offers over $379,000, down from $399,000, which gives buyers a sharper number. The agent's rental appraisal is $520 to $540 a week. That's a gross yield of 7.1% to 7.4%. After the $5,000 body corporate, it's still about 5.8% to 6.1%.
Our rule needs about $394 a week, so there's room left for rates and insurance. Council rates aren't on the listing, so ask.
Listed by Natasha Whalley-Thompson, Ray White Cairns.
A southside starter where the agent's rent figure covers the interest from day one.
Also on our radar
4/109 Callaghan Street, Mooroobool. A three-bed unit going to auction this Tuesday, 10 November, at 5:30pm at Ray White's Moffat Street office. The rental appraisal is $580 to $620 a week.
17 Adonis Street, Mount Sheridan. A four-bed on 946m² with an inground pool, listed at $750,000. Open Tuesday 10 November at 5:15pm. Kayla Pennefather, LJ Hooker Cairns Edge Hill.
3 Bream Close, Kanimbla. An elevated four-bed with city and mountain views on 700m². Offers close Monday 16 November at 12pm. Scott Mitchell, Inspire Real Estate Cairns.
7 Konowna Close, Mooroobool. A four-bed with views over the city and Trinity Inlet. Auction on site Saturday 28 November at 11:30am. Nadine Edwards, LJ Hooker Cairns Edge Hill.
185-187 Panguna Street, Trinity Beach. Close to an acre with a DA approval for a second home at the rear. Offers over $1,359,000. Wayne Vowles, Ray White Cairns Beaches.
4/110-118 Moore Street, Trinity Beach. A two-bed courtyard unit one street back from the beach, pets allowed. Offers over $589,000. Rachel Blok, Twomey Schriber Property Group.
Last edition, what happened next
We haven't seen a public result yet for 7 Bellevue Crescent in Edge Hill, which went to auction on 24 October. The same applies for 6/44-50 Pease Street in Manoora, where offers closed on 21 October. We'll share them once they're out.
6/199 McLeod Street, Cairns North is still for sale at offers over $449,000, with David Hall at Explore Property Cairns City.
244/2 Keem Street, Trinity Beach is still on the market at offers over $499,000. Domain lists the agent as Simon Batt at Ray White Cairns and Cairns Beaches, and we didn't name him last time.
2206/2-22 Veivers Road, Palm Cove is still listed in the mid $300,000s.
That's edition four. Three from the beaches, three from the southside, and a few more worth a look. If there's a suburb you'd like us to cover next, hit reply.
See you in a fortnight.
— Cairns Listed
Cairns Listed is general information and opinion, not financial or property advice. Figures are sourced from third parties and current at the time of writing. Do your own research and speak to a licensed professional before making a decision.
