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Cairns Property Market Forecast Top 7 Luxury Suburbs

Last updated January 2024.

Cairns, a gem in Far North Queensland, is increasingly catching the eye of investors and homebuyers alike, as its continuous migration growth and limited building areas hint at a future-ready for investment growth. This tropical paradise, once eyed by a Chinese billionaire for a gigantic grand casino project, is no longer Australia’s best-kept secret. The southern part of its region is expected to boom, with many more housing and commercial projects already underway.

Cairns photo

Cairns’s appeal is a vibrant mix of natural splendour and economic promise, especially being the international gateway to many southeastern Asian countries. As a result of its growing appeal, a significant increase in house costs has been seen between 2020 and 2024. That trend is likely to continue until the end of the decade.

In this article, we explore the top seven luxury suburbs of Cairns, from Edge Hill to the tranquil shores of Clifton Beach, each suburb offering a unique set of attractions and living benefits. Like every place, Cairns has its pros and cons, but the future of this little city is looking brighter than most rural towns in Australia.

Cairns Population Forecast

In the past 30 years, our population has nearly doubled – growing from 89,000 residents in 1992, to 172,272 in 2022. By 2050, it’s predicted to reach up to 241,000 (based on Queensland Government information released in June 2023). That’s nearly 70,000 more people than the population living here today.

1. Edge Hill

Noted as the most expensive suburb in Cairns, Edge Hill is known for its lush greenery and fantastic amenities. This suburb also features an array of trendy cafes and art galleries, adding to its upscale and cultured ambience. Based on the last 10 years average, the suburb’s expected yearly growth is estimated to be 10.67%.

Median house price: $710,750

Apartment: $275,000

Rental Yield: 4.7-7.9%

Distance to city centre: 3.5 km

Edge hill

2. Trinity Beach

A beautiful and quiet suburb near the city center, known for its local facilities and peaceful setting. Apart from its natural beauty, the area is renowned for friendly neighbourhood vibes and local community events. Based on the last 10 years average, the suburb’s expected yearly growth is estimated to be 6.03%.

Median house price: $679,500

Apartment: $385,000

Rental Yield: 6.0-7.9%.

Distance to city centre: 17.1 km

trinity beach

3. Redlynch

Popular for families, located alongside Freshwater Creek, and known for its natural beauty and walking trails. In addition to its scenic attractions, Redlynch offers excellent schools and community facilities, making it a top choice for families. Based on the last 10 years average, the suburb’s expected yearly growth is estimated to be 5.55%.

Median house price: $675,500

Apartment: $360,000

Rental Yield: 5.2-7.0%

Distance to city centre: 8.9 km

Redlynch

4. Freshwater

Freshwater offers close proximity to the airport, city centre, and train station and is home to Barron Gorge National Park. Besides its proximity to key locations, Freshwater is also celebrated for its charming village feel and local markets. Based on the last 10 years average, the suburb’s expected yearly growth is estimated to be 6.34%.

Median house price: $760,000

Apartment: $342,500

Rental Yield: 6.0-7.9%

Distance to city centre: 7.8 km

Freshwater

5. Clifton Beach

A scenic beachside suburb/village, ideal for family living, with safety ensured by coast guard patrols. Beyond its serene shores, Clifton Beach is appreciated for its close-knit community and local shopping options. Based on the last 10 years average, the suburb’s expected yearly growth is estimated to be 5.65%.

Median house price: $910,000

Apartment: $358,750

Rental Yield: 5.5-7.5%

Distance to city centre: 21.4 km

Clifton Beach

6. Palm Cove

A beachside suburb known for its beautiful beach, luxury resorts, and relaxed tropical lifestyle. Alongside its scenic beaches and resorts, Palm Cove stands out for its vibrant dining scene and boutique shopping. Based on the last 10 years average, the suburb’s expected yearly growth is estimated to be 10.93%.

Median house price: $1,110,000

Apartment: –

Rental Yield: 4.7-11.3%

Distance to city centre: 22.9 km

Palm Cove
Palm Cove

7. Stevens St at Clifton Beach

This specific street is noted for its high property values, with a median street value of $1.475 million. Exclusive to this area, Stevens Street is also known for its quiet, leafy environment, offering a serene retreat from the hustle and bustle. Based on the last 10 years average, the suburb’s expected yearly growth is estimated to be 9.7%.

Median house price: $1,420,900

Apartment: $275,000

Rental Yield: 6.5-11.1%

Distance to city centre: 21.5 km

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      CAIRNS LATEST PROPERTY GROWTH BY SUBURB

      CAIRNS LATEST PROPERTY GROWTH BY SUBURB

      Find out the latest price action in the Cairns property market by suburb. Get the full list today.