COVID-19 sees Cairns’ house prices soar

You wouldn’t think that during a worldwide pandemic, Cairns’ house prices would spike, but they have.

A new report from REA Group shows Cairns’ house prices have increased by 1.7 per cent.

Its 2021 outlook report shows a combination of low interest rates, government stimulus (such as the HomeBuilder grant), and increased consumer savings have all contributed to boosting the property market.

Real Estate Economist and author of the report Nerida Conisbee says that’s despite Australia experiencing its worst economic downturn, since the Great Depression.

“Queensland has really done well through the pandemic, primarily because COVID cases have remained low and the economy has done really well.”

“As a result there has been higher levels of…