Cairns real estate: Cassowary Coast property growth as people escape Covid cities

Flexible working arrangements combined with a desire to flee from city living have given dramatic impetus to regional property sectors across the Far North.

AS the highly contagious Omicron strain of Covid makes its presence felt, the Far North has never looked like a better option for families fleeing southern states and the real estate boom is extending throughout the whole region.

Options as diverse as a country village lifestyle at Yungaburra on the Atherton Tablelands or beachside living at Mission Beach have never looked better.

Flexible working arrangements have become the norm, giving people freedom to move out of the suburbs and fulfil dreams.

A gorgeous five-bedroom Queenslander surrounded by trees on 3,061sq m at 233 New Harbourline Rd, New Harbourline, south of Innisfail, is on the market with offers of more than $270,000 sought. Picture: supplied

Two-thirds of Australians were working from home in June this year, a federal government survey found.

Some 67 per cent were sometimes or always working from home, compared with 42 per cent pre-Covid.

Nowhere has the property boom been more pronounced than the Cassowary Coast, where a home is comparatively cheap – yet offering outstanding capital growth.

Data produced by CoreLogic exclusively for the Cairns Post showed the median at East Innisfail had jumped by 21.2 per cent this year to $213,714.

The median increase for a house at Innisfail was 17 per cent, to $261,031.

That’s compared with Cairns on a $502,000 median price.

At Innisfail Estate, the median rose by 18.5 per cent and at Babinda it rose by 16.9 per cent.

With many first homeowners struggling to purchase an affordable property, there are some great options at Innisfail.

A gorgeous five-bedroom Queenslander surrounded by trees on 3,061sq m at 233 New Harbourline Rd, New Harbourline, south of Innisfail, is on the market with offers of more than $270,000 sought.

It has striking features typical of a Queenslander.

A cute, renovated three bedroom home at 39 Bunda St is priced at $315,000.

And 21 Martin St, East Innisfail, is brimming with character with high ceilings and gorgeous arches along with airconditioning throughout and it is $310,000.

Cassowary Coast Mayor Mark Nolan said growth was unprecedented with council receiving record development applications for new homes.

21 Martin St, East Innisfail is brimming with character with high ceilings and gorgeous arches along with airconditioning throughout and it is $310,000. Picture: supplied

“People from all over are coming to our region, we are swamped by people wanting to acquire property, sight unseen in many cases,” Cr Nolan said.

“It is real estate on steroids – in 16 years as a councillor, I have never seen this in my time.

“More than anything it is people escaping Covid and they can sell their house in a capital city for $2m and buy a beautiful home here for $500,000.”

“At Mission Beach, an owner sold to Mayfair 101 for $500,000 and was disappointed when the sale fell through, but a Sydney couple bought it for $670,000,” Cr Nolan said.

“But there’s two sides of the coin – we need more affordable housing for people who are struggling, and we need housing for professionals like teachers, police, health – we can’t keep professionals here,” he said.

This modern three bedroom, two bathroom home at 16 Reid St, Innisfail Estate was listed at $450,000, spent 54 days on the market and sold for $410,000 – it rents for $430 per week. Picture: supplied

RE/MAX agent Billy Clarke said five acre lifestyle blocks were sought after by those who could now work from home.

“Those lifestyle blocks have become extremely popular as people continue to relocate,” he said.

In Cardwell the median jumped from $250,000 to $370,000 and in Mission Beach it rose from $378,000 to $410,000.

Atherton increased from $340,000 to $362,000.

The median property price at Port Douglas is $780,000.

Originally published as Cairns real estate: Cassowary Coast property growth as people escape Covid cities