Cairns Property News - July 2025

Happy New Financial Year! I'm excited to share some fresh real estate updates with you.

Aussie's are still strongly motivated to achieve home ownership. Rising trends such as the Bank of Mum and Dad, rent-vesting, city switching, co-ownership between friends and siblings, and multi-generational living are all examples of our creativity in finding ways to buy a home.
Economists are also predicting several more rate cuts in FY26, and the mortgage wars have restarted, with many banks offering highly competitive fixed and variable rates.

■  Cairns Locally - Our Council's $723.7 million budget.
Cairns Regional Council has adopted its 2025/26 Budget, setting a clear direction to meet the growing needs and expectations of the community and secure long-term financial sustainability.
A record $421.8 million capital works program is underpinned by a $260.1 million investment in the Cairns Water Security Stage 1, as well as targeted funding for water, roads, and sewage infrastructure, community facilities and parks. More.

■  Queensland Wide - Key takeaways from the State Budget for real estate in FNQ;
• $1 billion infrastructure investment to offset housing projects - easing the cost to rate payers on new council developments.
• $73 million on Social Housing construction
• 561 social and community houses in construction and contracted in Far North Queensland.
• New "Boost to Buy" scheme enabling home ownership into new builds as well as existing homes, to be more affordable, sooner.
• Increase first homeowners grant from $15k to $30k expires 30 June 2026
• $8.8 million over 2 years in the form of $5000 grants for Construction Business advancement grants to purchase business management software and training to improve productivity and bookkeeping. More.

■  Around Australia - Tough news for Buyers and Tenants.
The demand to buy property remains strong, and rents rose again throughout the whole market in FY25. PropTrack analysis predicts that the average Australian house price could rise by staggering 61 per cent over the next five years.
Domain is forecasting Australian property prices to jump to fresh record highs in 2025-26, creating more pain for first-home hopefuls. More.

■  Did you know? - About Sellers leaving items behind?
Any personal property or reserved items left by the seller after settlement can be considered abandoned—and the buyer has full control over what happens next.
The REIQ Contract clause states:
Clause 5.6(3): If reserved items (like furniture, tools, or equipment) aren’t removed by settlement, the buyer can either: Keep them, Dispose of them, Or charge the seller for any costs involved.
Clause 5.6(2) & (4): If removing the items causes damage, the seller is responsible for repairs. And if the buyer has to repair it themselves, the seller must cover the expense.

My advice: To avoid disputes, Sellers should remove all personal items before settlement. Anything left behind could end up costing them—and result in unhappy Buyers.

If you have any questions or need assistance with your property journey, please feel free to reach out.
Daniel Sheehan - 0409 265 326