Cairns home prices have shot up more than 10 per cent in the past year with new data revealing units were leading the surge in price growth.

The latest PropTrack Home Price Index revealed Cairns home prices increased 2.23 per cent in the October quarter and 11.12 per cent in the past 12 months to a median of $613,000.

The median house price was up 2.02 per cent quarter-on-quarter and 10.02 per cent year-on-year to $689,000.

While unit prices surged 3.39 per cent in the last quarter and 15.59 per cent in the past year to a median of $414,000.

Ray White Cairns Beaches selling principal, Ray Murphy said activity had increased in the local property market, particularly in the past month.

“With the introduction of the Government’s Home Guarantee Scheme, there is certainly a lot more buyers entering the market, which is putting a lot more pressure on the market,” he said.

“We’re seeing multiple offers on properties after the first inspection.

“You’ve got to be quick.”

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Mr Murphy said the Cairns unit market in particular was experiencing strong interest.

“Although buyers often start looking for a house, when they realise the cost of houses versus units, they see they can get more bang for their buck with a unit,” he said.

“And some buyers are just priced out of the house market.

“We’re seeing a mix of owner occupiers and investors buying units, and a lot of first homebuyers.”

Mr Murphy said while Cairns was experiencing rapid property price growth, the region still offered good value, especially compared to Australia’s capital city markets.

“Cairns is still a great place to buy, a great place to live and the bang for your buck is certainly there,” he said.

“However, I don’t envision (the rise in property prices) changing anytime soon.

“There are no signs of the market slowing or the cost of building coming down.

“If you’re in a position to buy and you have the serviceability, I’d be encouraging you to enter the market.”

The HPI showed the regional Queensland median home price peaked at $764,000 in October, up 0.6 per cent month-on-month and 11.2 per cent, or $84,200, year-on-year.

Regional Queensland house prices rose 0.6 per cent last month and 10.9 per cent in the past year to $774,000, while unit prices increased 0.7 per cent month-on-month and 11.7 per cent, or $80,500, year-on-year to $744,000.

The PropTrack report showed national home prices were up 0.6 per cent in October to a new median of $858,000.

REA Group senior economist and report author Eleanor Creagh said this extended the upswing to a 10th straight month and lifted values 7.5 per cent higher than a year ago, the strongest annual pace since May 2024.

“Increased borrowing capacities, lower mortgage rates and improving sentiment are fuelling renewed competition, but the pattern of growth is shifting,” she said.

“Over the past year, Darwin, Hobart, Melbourne and Sydney have seen the fastest acceleration in annual gains with these previously softer markets regaining momentum.

“In contrast, the pace of annual growth is easing from earlier highs in Brisbane, Adelaide and

Perth, though prices are still at record levels and continue to rise briskly.

“All regional markets have slowed, except regional Victoria, narrowing regional market outperformance.”

Ms Creagh said nationally, annual growth had lifted above the 30-year average, yet stretched affordability is a handbrake on growth, which remains well below the 20-30 per cent pace of past booms.

“Looking ahead, this year’s series of rate cuts, population inflows and the expanded Home Guarantee Scheme will continue to bolster demand,” she said.

“With stock on market constrained and new supply challenged, conditions remain tilted toward sellers.

“The market appears set for further price gains throughout spring and into summer.”

In Brisbane, the median home price rose 0.9 per cent last month to a new peak of $976,000.

This was the second largest climbs of all markets in October behind Adelaide (1.2%).

Brisbane home prices were also up 12.6 per cent, or $112,700, annually – the largest dollar value rise of all markets.

House prices were up 0.9 per cent in October, to a median of $1.126m, lifting the annual increase to 11.1 per cent, or $117,400.

In the unit market, buyers are paying 0.9 per cent more month-on-month and 16.8 per cent, or $109,700, year-on-year, as the median unit price hits $770,000.

Elsewhere in Queensland, Townsville had the top performing market with home prices up 15.94 per cent in the past year to a median of $586,000.

This was followed by Mackay, where the median dwelling price shot up 15.5 per cent year-on-year in October to $587,000, and Darling Downs – Maranoa, where home prices increased 14.75 per cent to a median of $494,000.

Home prices on the Gold Coast, home prices were up 10.06 per cent in the past year to $1.107m, while in Cairns the median home price rose 11.12 per cent to $613,000.

OCTOBER PROPTRACK HOME PRICE INDEX

(SOURCE: PropTrack)

The post Unit market leads Cairns property price surge appeared first on realestate.com.au.

Townsville was Queensland’s top performing property market in October with new data revealing price surges of almost 20 per cent in the past year.

The October PropTrack Home Price Index revealed the unit market was leading the price growth charge in Townsville with a 19.27 per cent increase in the past 12 months.

The median unit price hit $452,000 in October, up 3.79 per cent for the quarter.

The median Townsville house price was up 15.27 per cent year-on-year and 3.84 per cent quarter-on-quarter to $626,000.

These results helped push combined unit and house prices up 3.86 per cent for quarter and 15.94 per cent for the year to a median home price of $586,000.

Keyes and Co Property principal, Damien Keyes said Townsville’s strong price growth was driven by high demand outstripping stock levels.

“The population is still growing and employment is really strong,” he said.

“A lot of people are arriving here and looking for good quality homes.

“Rental demand is still insane – vacancies are low and that is putting pressure on that space.

“Some tenants are moving into the housing market just to improve housing security.”

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Mr Keyes said a shift in investor buying had put upwards pressure on unit prices.

“With houses pushing beyond that $650,000 to $700,000, investors are turning their focus to the apartment market where they are finding more room for growth at a lower price point.”

Mr Keyes said the cost and time associated with buying a new build was also pushing up demand in the established home market.

“The cost to deliver new home and land is still really high … and blocks are selling well ahead of title registration, so there is a big lag in delivery,” he said.

“While that housing cost remains high and people are having to rely on vacant land to be produced, the established market is still more attractive.”

In regional Queensland, median home prices peaked at $764,000 in October, up 0.6 per cent month-on-month and 11.2 per cent, or $84,200, year-on-year.

Regional Queensland house prices rose 0.6 per cent last month and 10.9 per cent in the past year to $774,000, while unit prices increased 0.7 per cent month-on-month and 11.7 per cent, or $80,500, year-on-year to $744,000.

The PropTrack report showed national home prices were up 0.6 per cent in October to a new median of $858,000.

REA Group senior economist and report author Eleanor Creagh said this extended the upswing to a 10th straight month and lifted values 7.5 per cent higher than a year ago, the strongest annual pace since May 2024.

“Increased borrowing capacities, lower mortgage rates and improving sentiment are fuelling renewed competition, but the pattern of growth is shifting,” she said.

“Over the past year, Darwin, Hobart, Melbourne and Sydney have seen the fastest acceleration in annual gains with these previously softer markets regaining momentum.

“In contrast, the pace of annual growth is easing from earlier highs in Brisbane, Adelaide and

Perth, though prices are still at record levels and continue to rise briskly.

“All regional markets have slowed, except regional Victoria, narrowing regional market outperformance.”

Ms Creagh said nationally, annual growth had lifted above the 30-year average, yet stretched affordability is a handbrake on growth, which remains well below the 20-30 per cent pace of past booms.

“Looking ahead, this year’s series of rate cuts, population inflows and the expanded Home Guarantee Scheme will continue to bolster demand,” she said.

“With stock on market constrained and new supply challenged, conditions remain tilted toward sellers.

“The market appears set for further price gains throughout spring and into summer.”

In Brisbane, the median home price rose 0.9 per cent last month to a new peak of $976,000.

This was the second largest climbs of all markets in October behind Adelaide (1.2%).

Brisbane home prices were also up 12.6 per cent, or $112,700, annually – the largest dollar value rise of all markets.

Brisbane house prices were up 0.9 per cent in October, to a median of $1.126m, lifting the annual increase to 11.1 per cent, or $117,400.

In the unit market, buyers were paying 0.9 per cent more month-on-month and 16.8 per cent, or $109,700, year-on-year, as the median unit price hit $770,000.

Elsewhere in Queensland, Mackay was the second best performing market in the state behind Townsville with the median dwelling price up 15.5 per cent year-on-year in October to $587,000.

In Darling Downs – Maranoa, home prices increased 14.75 per cent to a median of $494,000.

On the Gold Coast, home prices were up 10.06 per cent in the past year to $1.107m, while in Cairns the median home price rose 11.12 per cent to $613,000.

OCTOBER PROPTRACK HOME PRICE INDEX

(SOURCE: PropTrack)

The post Townsville property prices surge up to 20pc appeared first on realestate.com.au.

It was a smash-hit that was virtually guaranteed. Spinning off from one of the most adored ‘80s shows, Frasier went on to become an equally beloved fixture of the ‘90s.

Audiences couldn’t get enough of Kelsey Grammer as Dr. Frasier Crane during his time on Cheers, leading NBC to give the psychiatrist his own series.

The gamble paid off: Frasier ran for a massive 11 seasons from 1993 to 2004.

However, the laughter finally ended, reportedly due to the cast’s soaring pay packets.

According to media reports, the stars’ salaries became so high that NBC could no longer justify the expense, forcing the cancellation of the iconic show.

From record-breaking paycheques to multimillion-dollar real estate transactions, here’s a look at the net worths and property moves of the Frasier cast.

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Kelsey Grammer (Dr. Frasier Crane)

Estimated Net Worth: $US80 million ($A122 million)

Kelsey Grammer quickly became one of the highest-paid actors on television.

By the final two seasons of Frasier, the X-Men 3 star’s salary reportedly reached $US1.6 million ($A2.5 million) per episode, setting a record for TV actors at the time.

The Emmy-winner made around $US2 million ($A3.1 million) per episode on the show’s reboot.

Grammar’s shrewd real estate investments outside of acting have only added to his fortune.

In 2002, The Boss actor purchased a ski-in-ski-out mansion in Avon, Colorado for $US5.3 million ($A8 million). He later sold this property in 2013 for $US6.6 million ($A10 million).

Grammer snapped up a $US13.7 million ($A21 million) California. A year later, he listed the Holmby Hills property for sale for $19.9 million ($A30.3 million).

In 2017, the TV star sold his New York City condo for $US7.95 million ($A12.1 million) after initially listing it for $9.75 million ($A14.8 million).

Grammer purchased a Beverly Hills mansion for $US6.5 million ($A9.9 million) in 2012, selling it a year later for $6.6 million ($A10 million).

The Cheers alum previously owned a large mansion in Kailua, Hawaii on a golf course within a gated community. He sold this property in 2014 for $US10.2 million ($A15.5 million).

When The Expendables 3 star and third ex-wife Camille Grammer finalised their divorce in 201, she received an estimated $US30 million ($A45 million) worth of cash and real estate assets, including a house in Malibu.

The former Real Housewives of Beverly Hills later sold the sprawling estate for $US13 million ($A19 million).

Grammer’s Hollywood success stands in stark contrast to a deeply tragic personal life.

In a string of tragedies Grammer faced his first loss when he was aged 13 following the sudden death of his father, who was shot and killed.

By the time he was 19, he faced another horrific incident after his 18-year-old sister Karen, was raped and murdered, according to US Weekly. Then in 1980, Grammer faced two more family deaths, losing his younger half-brothers in a scuba diving incident, the publication reported.

“My dad was gunned down at his home at the age of 38,” he said in a public announcement.

“[The assailant] lit a ring of fire around his house and as my father came down to investigate what was going on, he shot him … several times and Dad died,” Grammer told New York Post in 2001.

“I miss her in my bones,” Grammer told his sister’s killer at his parole hearing in 2014. “I was her big brother. I was supposed to protect her. I could not — it very nearly destroyed me.”

Grammer’s life hasn’t been total tragedy, however, with the star welcoming his eighth child at age 70 in October 2025.

David Hyde Pierce (Niles Crane)

Estimated Net Worth: $40 Million ($A60 million)

David Hyde Pierce has built a considerable fortune, thanks to his role on Frasier.

During the last two seasons of the sitcom, the actor earned $US1 million ($A1.5 million) per episode of the show.

The award-winning star has also made savvy property investments.

In 2003, Pierce forked out $US3.6 million ($A5.4 million) for a mansion in the Los Feliz area of Los Angeles. He sold the seven-bedroom estate for $US7 million ($A10.6 million) in 2012.

The property features a library, theatre, gym, swimming pool and guesthouse.

That same year he offloaded his Los Angeles pad, Pierce and his husband, David Hargrove snapped up a $US1.9 million ($A2.8 million) apartment in New York.

Jane Leeves (Daphne Moon)

Estimated Net Worth: $25 Million ($A38 million)

Jane Leeves inked a lucrative $US30 million ($A45 million) contract that would turn out to be Frasier’s last three seasons.

The three-year deal turned the Seinfeld alum into the highest-earning British actress at the time.

In 1998, Leeves and her husband, Marshall Coben, bought a $US875,000 ($A1.3 million) Malibu mansion. The four-bedroom home is said to be worth $US10 million ($A15 million).

Peri Gilpin (Roz Doyle)

Estimated Net Worth: $25 Million ($A38 million)

Peri Gilpin’s pay rose significantly over the years. For the last two seasons of Frasier, she negotiated a contract that paid her $US500,000 ($A750,000) per episode.

It was a huge increase from the estimated $US150,000 ($A227,000) the actress earned per episode for the previous several seasons.

Gilpin and her husband Christian Vincent have an extensive real estate portfolio.

In 2003, the couple sold a West Hollywood property for $US1.3 million ($A1.9 million).

The pair unloaded another property in Beverly Hills for $US5.6 million ($A8.4 million) in 2007.

Gilpin reportedly snapped up a Malibu cottage in 2010 for $US3.5 million ($A5.3 million). The home was sold in 2013 for $US4.25 million ($A6.4 million).

That same year, the TV bought a $2.5 million ($A3.7 million) Malibu residence. It was last listed for sale in 2017 for $US3.8 million ($A5.7 million).

John Mahoney (Martin Crane)

Estimated Net Worth at time of passing: $US16 million ($A24 million)

Like Gilpin, the late John Mahoney negotiated a deal that paid him $US500,000 ($A750,000) per episode for the last two seasons of Frasier

The actor earned an estimated $US150,000 ($A227,000) per episode for the previous several seasons.

Despite his wealth, the English-American star was reportedly frugal. He lived in a modest Santa Monica apartment while filming Frasier.

At the time of his 2018 death, Mahoney lived in a Chicago condo worth around $US300,000 ($A450,000).

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Acre Hill, the Southern Highlands acreage listed by social media influencer Phoebe Burgess, sold at its weekend auction.

It was the Burradoo property bought after she separated from her former husband, rugby league champion turned coach, Sam Burgess, who’d quit their matrimonial Maroubra home in late 2019. 

The private Moss Vale Rd acreage was originally listed with a $2.25m price guide in May, which was subsequently tweaked to $2m to $2.2m.

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Just ahead of the onsite auction on Saturday, it was advised at $1.9m by its listing agents Erica Chapman and Sarah Burke of Atlas. There were two bidders after auctioneer David Scholes took a $1.9m opening bid. The top bidder at $2,075,000 raised their offer to $2,090,000 and it was knocked down amid the sunshine and light showers.

Burgess, a mother of two, purchased the Tuscan-style four-bedroom, three-bathroom house for $1,725,000 in 2021 but reportedly has never resided there, instead living at her parents, Sarah and Mitch Hooke’s nearby Daffodil Downs estate.

Before the auction, Burgess was spotted having an early breakfast at The Press Shop cafe with her father, but their bowls, which looked like acai, were too much so they took the remainder with them. She nervously vaped on a golden vape when spotted before the auction.

The house on 6949sq m was last listed as a rental at $995 a week last year.

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The sales listing garnered 2759 page views on realestate.com.au during its latest marketing campaign, after 1695 page views during its initial six months on the market, suggesting a spring pick-up in buyer activity.

Burgess recently said it was amid the pandemic and following the end of her marriage that the Highlands proved to be “a sanctuary” every time she drove down the highway with her children. She recently advised that the Highlands was “a soothing place where there was no one looking in”.

“We are a single-income family, completely, which is why I’m selling, which does break my heart,” Burgess told CoStar.

“We couldn’t have it all at once, and that’s OK. That dream will have to be realised in the future.”

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No word yet, but Sydney Confidential reported mid-year that with both children at local schools, there’s a good chance she won’t be going far.

Proptrack calculates the median four-bedroom house is $2,452,000, across 33 sales over the past year with an average 84 days time on market.

The median is up 5 per cent annually, and down 21 per cent from the all time high of $3,075,000 in August 2021.

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When maths teacher Trevor Kloprogge and his wife Jackie set out to buy in Melbourne’s East, there was only one way the numbers added up: a knockdown rebuild.

“We realised to afford the house we wanted, we’d be better off buying, knocking down and rebuilding,” Trevor said. 

“I did the sums, and it worked out better that way – and increased our equity from day one.”

The Kloprogges are among a growing number of families choosing to knockdown rebuild, Simonds chief of sales and marketing Shaun Patterson said.

“For many, it’s not just about a new house – it’s about staying connected to the community, schools and lifestyle they already love, while finally getting a home that fits the way they live today,” Mr Patterson said. 

So, what did Trevor and Jackie learn along the way? Here are their top tips.

1. Do your research – but expect surprises

Trevor’s first piece of advice is to talk to an expert knockdown rebuild specialist like Simonds and understand and check council rules and overlays before you buy.

In Blackburn, the couple ran into strict tree protections under Whitehorse Council.

“We should have met with an arborist before buying,” Trevor admitted.  

“We thought boundary trees wouldn’t affect us much – but council said we had to account for the roots.”

The impact? A single-storey plan became a two-storey build, with design changes before the approval was granted. 

“The process took some time– but Simonds only asked us to put down $2000 during that time, which was a lifesaver.”

2. Set a realistic budget 

The Kloprogges entered the process with a clear budget – and it paid off. 

“The only extras we paid were for changes we chose. Simonds didn’t charge for the time or reworking plans,” Trevor said. 

For them, the financial logic was clear: “We noticed new builds often sold for around $300,000 more than renovated homes. It’s your life savings, so you want to maximise your return and minimise risk.” 

Mr Patterson said rebuilds often come out ahead financially: 

“A clean slate means fewer hidden issues, and everything is covered by warranties – which is often more cost-effective than renovations in the long run.”

3. Prioritise your must-haves 

For the Kloprogges, accommodating the trees on site was non-negotiable. 

Simonds customised a standard design to fit the block. “It was architecturally tailored to the landscape,” Trevor said. 

Because it was their own home – not an investment – they also chose bespoke elements to match their lifestyle. 

4. Work with trusted experts 

When demolition revealed asbestos under the old house, the couple were relieved Simonds had recommended a reliable team.

“If we’d gone cheap, we could have had a massive headache, thank goodness the demolition safely disposed of it” Trevor said.

5. Build for the future 

Unlike their previous renovation, a new build gave the Kloprogges confidence in quality and sustainability.

“Our new home has Lifetime Structural Guarantee – you don’t get that with a reno,” Trevor said. 

Mr Patterson agreed: “A knockdown rebuild gives people modern, energy-efficient inclusions and a home designed for today’s lifestyle, without the compromises of an old structure.”

The payoff 

For Trevor and Jackie, the result has exceeded expectations. 

“We didn’t realise how spacious it was until we moved in. Once you’ve got your own furniture inside, you go ‘oooh – this is even more luxe than we expected’.”

The post Inside knowledge: Top tips from my knockdown rebuild appeared first on realestate.com.au.