Five affordable Cairns suburbs with outstanding rental yields

Cairns’ property market has proved resilient in the face of interest rate rises and a jittery national real estate mood, with negligible price falls in recent months – but there’s still plenty of scope to snap up a bargain. Find out where they are.

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Cairns’ property market has proved resilient in the face of interest rate rises and a jittery national real estate mood, with negligible price falls in recent months – but there’s still plenty of scope to snap up a bargain.

The median price of a house in Cairns is $530,000 and the market has gained 15.2 per cent over 12 months, with houses spending an average of just 33 days on the market.

Rising interest rates and inflation may have many trying to get a foot on the property ladder feeling jittery or reassessing buying plans – but there are five Cairns suburbs offering excellent value.

And many of them also offer excellent rental returns.

The most affordable suburb in Cairns is White Rock with a $385,000 house median.

White Rock resident Jodi Bjorksten sold her Aeroglen Queenslander and downsized to a stylish apartment in a gated community.

Jodi Bjorksten, pictured with her cat Jeanie, is among a growing number of Cairns residents downsizing their home. She moved from a house at Aeroglen to a unit in a gated apartment complex at White Rock in September last year. Picture: Brendan Radke

“I wanted to reduce my mortgage substantially, and I reduced it by two-thirds, and I feel like I have got my life back, I’m no longer a slave to an old house and a big yard,” Ms Bjorksten said.

“I love it because it used to take 25 to 30 minutes to get to work and now it is five minutes.

“I’m surrounded by beautiful gardens and pools, it’s safe and secure, super quiet with no airport noise,” she said.

Offers in the low to mid $500,000s are sought for this newly-listed three bedroom home at 17 Edge Court, Manoora, in the Edge Court development. The property was built in 2021. Picture: supplied.

“When you say you live in White Rock, people turn their noses up, but it’s well serviced, it is close to everything and the fitness trail is fantastic – there’s some lovely pockets.”

The next best value address is Manoora, with a $400,000 house median.

This three bedroom home on a 700sq m block at 13 Denver St, White Rock, is on the market with offers over $279,000 considered. Picture: supplied.

Twomey Schriber agent Karl Latham said perceptions of Manoora as less than desirable were outdated.

“It’s a thing of the past and quite frankly these days is bad real estate advice,” Mr Latham said.

“Manoora is on the city fringe and offers affordable living for investors and owner-occupiers in both houses and apartments.

This smart four bedroom home at Edmonton is on the market with offers over $649,000 considered. Picture: supplied.

“In most cities, what was once lower social economic suburbs on the city fringes quickly became sought after real estate hot spots to buy cheap homes and renovate, and ride the capital growth wave into the future as population grows and inner city living becomes more popular,” he said.

Investors would do well to focus on Woree, where the rental yield for units is a stellar 9.3 per cent.

The median house price at Woree is $405,000, with the suburb’s rising popularity underscored by a 27.6 per cent annual rise.

Champions in Real Estate director Michelle Champion said a big plus was that Woree was in the catchment area for top schools.

Offers over $499,000 are sought for this three bedroom home at 14 Hogan St, Westcourt. It has a newly renovated kitchen. Picture: supplied.

“It offers a wide range of properties to purchase from units, houses with big blocks and also elevated properties with amazing views,” Ms Champion said.

A house at Westcourt is affordable with a median of $417,500.

Inspire Cairns agent Daniel Gibbs said buyers were increasingly focused on living close to the city and Westcourt fit the bill.

“I find it’s a very diverse range of purchasers that are looking, but it certainly feels there are a lot of first home buyers and investors,” Mr Gibbs said.

House prices at Edmonton have risen from $365,000 to $420,000 over 12 months, a rise of 15.1 per cent, but the south side address comes in as the fifth most affordable.

Ray White Cairns South principal Therese Plath says Edmonton offers value for money. Picture: Brendan Radke.

Ray White Cairns South principal Therese Plath said Edmonton was family-oriented.

“Buyers have been impressed with the quality of homes and value for money compared to similar properties to the beaches on the northern side of Cairns,” Ms Plath said.

Originally published as Five affordable Cairns suburbs with outstanding rental yields