Surprising job growth in regional Queensland city has topped the national charts

Data reveals which city is leading Australia’s job growth — and it’s not where you might expect. Discover which Queensland city has topped the national charts.

Data reveals which city is leading Australia’s job growth — and it’s not where you might expect. Discover which Queensland city has topped the national charts. Picture: Brendan Radke

While Cairns experiences job growth and a decrease in unemployment, the region’s chronic housing shortage remains unresolved, according to the latest data from peak body leaders in Far North Queensland.

The latest edition of the Cairns Economic Monitor, published by the Cairns Chamber of Commerce, highlights key economic indicators, including market trends, inflation, construction and tourism.

In March, 400 new jobs were secured locally, with the annual growth remaining strong at 2.6 per cent, outpacing both the state at 2.2 per cent and the national average of 2.3 per cent.

Which Queensland city is leading Australia’s job growth? Picture: NCA NewsWire / Max Mason-Hubers

WGC Lawyers managing director Rhiannon Saunders expressed optimism about the region’s economic trajectory.

“It was pleasing to read our region continues its positive trajectory with employment growth higher than the national and state rates of growth,” she said.

“Real estate prices also remain high, with our region continuing to perform as the fastest-growing region in Queensland and one of the fastest in the country.”

While building approvals in the region have shown some improvement, offering relief to the region’s chronic accommodation shortage, the level of approvals remains well below the peak since Covid-19, with an average of about 100 approvals per month.

“There is no sign that the supply of housing required in the region is increasing at a scale that will materially ease the impacts of the shortage,” the document outlines.

With global economic concerns dominated by the ongoing US tariff war, experts anticipate potential risks to the global economy.

Building approvals in Cairns have improved but remain below post-covid peaks, averaging 100 per month, still insufficient to fully ease the housing shortage. Picture: Supplied

These concerns could play out nationally, with the Reserve Bank of Australia expected to take swift action to cut rates.

The 28-page document outlines the futures market has fully priced a 25 basis point cut, which will take the cash rate to 3.85 per cent.

While a decision on rates is expected on May 20, additional cuts are anticipated later in the year, with a target of 3.10 per cent priced in by December.

This graph shows the level of building approvals remaining well below the peak since Covid-19, with an average of about 100 approvals per month.

LJ Hooker Cairns Edge Hill director Nadine Edwards said the Cairns real estate market was showing positive signs, with auctions remaining well received and clearance rates strong.

“We saw a notable increase in stock levels during the first week of May, offering more choice for buyers. With the election now behind us, we expect the market to return to business as usual, with activity likely to pick up,” she said.

“Queensland’s new rental reforms, effective May 1, include a 48-hour notice period for entry and a standardised application form.”

Ms Edwards said landlords seeking advice should speak with their property manager to understand what impacts these changes may have.

However, experts said further efforts were needed to comprehensively address the chronic lack of accommodation in regional towns like Cairns.

Building approvals in the region have shown some improvement, offering relief to the region’s chronic accommodation shortage.

Partner at PVW Partners, Michael Wilson, said the impact of increased land valuations wasn’t all “positive” news.

“Many of us received an email from the Valuer-General informing us that our land value has increased by around 20 to 40 per cent,” he said.

“While it might feel good to see your property value rise, it isn’t necessarily good news if you pay land tax and council rates, which are calculated based on your property’s land value.”

Mr Wilson said the council’s 2025–26 budget would soon be released, and he was interested to see whether council revenue increases were significantly above their usual CPI-based rate adjustments due to these rising valuations.

“If they do fully increase their revenue as a result of this change, I hope they’ll put that extra money to good use,” he said.

You can access the full May 2025 edition here.

Originally published as Surprising job growth in regional Queensland city has topped the national charts