9 Best Investment Suburbs in Cairns for 2023

Cairns is a vibrant tropical city in North Queensland renowned for its natural beauty, proximity to the Great Barrier Reef, and growing industrial economy.

There's no doubt about it, Cairns is the perfect city for real estate investment. Its growing economy and constant development mean there will be plenty of new properties over the coming years. So, where is it worth investing? And how do you know which areas are going to provide the best rental yield? Within this article, our local team have put together a list of the best investment suburbs in Cairns for 2023:

1. Edge Hill

Edge Hill is one of Cairns’ most in-demand suburbs for property investors. Surrounded by tranquil rainforest environments, this location perfectly blends natural beauty and charming suburbia. From classic Queenslander homes to modern houses, Edgehill is a great suburb that already has plenty of housing opportunities.

Median property price: $780,000 for houses and $237,500 for units (Real Estate, 2022-2023).
Median weekly rent: $310 (ABS, 2021)
Median weekly household income: $1,674 (ABS, 2021)

2. Freshwater

Freshwater is ideal for investors looking for a conveniently located property. This suburb has excellent transport links and is close to the airport and Cairns CBD. Charming, green, and family-friendly, Freshwater is the perfect village-like suburb to invest in Cairns in 2023.

Median property price: $775,000 for houses and $337,500 for units (Real Estate, 2022-2023).
Median weekly rent: $350 (ABS, 2021)
Median weekly household income: $1,867 (ABS, 2021)

3. Trinity Beach

With beachside villas, modern family homes, and low-rise apartment buildings, Trinity Beach is one of the best coastal suburbs for property investors. For investors looking for the perfect coastal property, this quiet seaside village is home to the titular beach and family-friendly restaurants and cafes. It is located only 15 minutes away from the Cairns CBD.

Median property price: $650,000 for houses and $360,000 for units (Real Estate, 2022-2023).
Median weekly rent: $380 (ABS, 2021)
Median weekly household income: $1,681 (ABS, 2021)

4. Kewarra Beach

A family-friendly beachside suburb in Cairns, Kewarra Beach is located beside the popular Trinity and Clifton beaches. With sandy shores, coastal parks, and a range of affordable housing options, Kewarra Beach is a promising investment option for investors seeking long-term growth potential and steady rental returns.

Median property price: $637,772 for houses and $449,000 for units (Real Estate, 2022-2023).
Median weekly rent: $400 (ABS, 2021)
Median weekly household income: $1,638 (ABS, 2021)

5. Redlynch

Redlynch is a popular Cairns suburb with great amenities and facilities. With spacious homes, large apartment blocks, and abundant parks, it’s the perfect blend of natural beauty and semi-rural living. Conveniently located near the city centre, Redlynch’s property market has been growing fast, making it a worthwhile investment area.

Median property price: $675,000 for houses and $310,500 for units (Real Estate, 2022-2023).
Median weekly rent: $420 (ABS, 2021)
Median weekly household income: $2,193 (ABS, 2021)

6. Machans Beach

Populated with quaint beachside cottages and modern family homes, Machans Beach is a charming coastal suburb just a short distance from Cairns’ CBD. With property prices steadily rising, Machans Beach is teeming with opportunities.

Median property price: $657,500 (Real Estate, 2022-2023).
Median weekly rent: $370 (ABS, 2021)
Median weekly household income: $1,610 (ABS, 2021)

7. Smithfield

Smithfield is just a short distance from Cairns’ CBD and offers excellent amenities and access to natural areas and the northern beaches. Boasting a thriving retail hub, a vast public transport network, and proximity to James Cook University, Smithfield is the perfect investment suburb for those looking for an affordable and convenient property in Cairns.

Median property price: $590,000 for houses and $325,000 for units (Real Estate, 2022-2023).
Median weekly rent: $420 (ABS, 2021)
Median weekly household income: $1,840 (ABS, 2021)

8. Woree

An affordable suburb not far from Cairns’ central business district, Woree has excellent amenities and transport links. The suburb is experiencing gradual growth, so now is the perfect time to buy an affordable house or unit and watch it grow.

Median property price: $475,000 for houses and $202,500 for units (Real Estate, 2022-2023).
Median weekly rent: $280 (ABS, 2021)
Median weekly household income: $1,152 (ABS, 2021)

9. Manoora

Manoora is a convenient area for those looking to buy an investment property without breaking the bank. With affordable townhouses, houses, and apartments, Manoora has experienced steady growth and development, making it an ideal suburb for property investors in Cairns.

Median property price: $411,250 for houses and $235,000 for units (Real Estate, 2022-2023).
Median weekly rent: $270 (ABS, 2021)
Median weekly household income: $1,054 (ABS, 2021)

Which Suburb is Best?

The property market in Cairns offers many opportunities for property investors, whether you’re looking for a quiet coastal suburb or a central commercial hub. The best way to tap into the market's potential and obtain a property in one of the best investment suburbs in Cairns is to partner with a trusted builder like Cougar Homes. We can provide you with the perfect property for sale or work with you to build a custom investment property. Contact us today to make the most of your 2023 property journey in Cairns.