Cairns home prices fall as cost of living fears end six-year growth streak

Home prices in Cairns have dropped for the first time since April 2020, with cost of living fears breaking a staggering six-year growth streak. PropTrack’s Home Price Index for July 2026 found the regional town’s median dwelling value fell 0.16 per cent, a month after values in Brisbane and the Gold Coast decreased. Cairns joins the downturn seen throughout the country, with Brisbane and national medians both falling 0.3 per cent over the month. The median home price in Cairns fell for the first time in more than six years, dropping 0.16 per cent after a growth streak since April 2020. Ray White Cairns selling principal Ray Murphy said buyers and sellers had grown nervous after interest rate rises and international instability affected the nation’s home values. “When others aren’t confident, you’re not confident as well,” he said. “If fuel prices are going up and war in Iran continues to go on, it’s pretty common sense that they’ll raise interest rates, which affects buyer confidence.” The month of June saw home prices fall for the first time in more than three years for Brisbane and the Gold Coast, while growth continued at a slower rate for many of Queensland’s regional hotspots....