McGrath has strategically earmarked Cairns as a region on the rise, supported by evidence of a strong growth trajectory that sees population growth projected to reach 72,000 by 2050.
Chris Mourd, Head of Franchise for McGrath, said Cairns is a rare regional market that blends lifestyle with genuine investment fundamentals.
“It is attracting south-coast sea-changers chasing beachfront living as well as local families wanting to benefit from the growing infrastructure and lifestyle attractions.”
“The region’s climate, lifestyle amenities and tourism appeal continue to be a major draw for interstate buyers and holiday-home purchasers,” Mr Mourd said.
As one of the largest cities in Queensland, Cairns is a key centre for healthcare, construction, education and transport in the Far North Queensland region.
Principal of McGrath Cairns, Mark Turnbull, said that while the city provides essential services to the region, it also offers a relaxed coastal culture attracting sea-changers, retirees and families.
“Cairns provides a genuine tropical lifestyle with easy access to the Great Barrier Reef, Daintree and wet-tropics hinterland,” said Mr Turnbull, a long-term resident of the city.
“There’s a relaxed coastal culture and a healthy outdoor sporting scene that attracts residents choosing lifestyle over big-city living, and proving to be a drawcard for interstate migration.”
“Cairns is a high-momentum regional market with strong price growth, very tight rental vacancy and above-average yields,” added Mr Turnbull.
“This is an attractive mix for a premium brand like McGrath that can capture both investor and lifestyle buyers.”
“Low vacancy rates and continued infrastructure investment means we’re seeing strong buyer competition across the board,” said Mr Turnbull.
“For our vendors, that translates to fast-moving campaigns and excellent buyer depth while for investors, the combination of yield and capital growth makes Cairns an appealing play.”
In the past 12 months, Cairns has experienced a 10 per cent increase in property values taking the median house price to $689,000.
Units have seen an even stronger growth in median price to 11.2 per cent.**
In September, REA reported Cairns experienced one of the strongest gains in the country this year, rising faster than Brisbane while in November, the ABC described Cairns as a “red hot” property market.
“There is a clear opportunity for us to leverage McGrath’s offering to our clients with its differentiated, full-service approach to transacting real estate,” said Mr Turnbull who brings to the company 28 years’ experience and expertise in both residential and commercial finance, and property development.
“My experience gives a unique perspective in real estate, allowing me to provide clients with insights into property investment and loan structuring alongside premium real estate advice,” said Mr Turnbull.
McGrath Cairns will cover the area from Palm Cove in the north to Edmonton in the south, Cairns CBD on the coast, to Redlynch in the west.
Mr Turnbull said McGrath Cairns is focused on premium marketing, targeted interstate campaigns, and partnerships with local property managers to ensure vendors and investors receive the best outcomes.
The office has a sales team of four.
