Cairns Report - September 2024

For the first time in a long time, building approvals in Cairns have recorded positive growth on annual basis - up 13% from a year ago. 

That's much stronger than state and national growth rates, but still the issue of housing availability and constraints remains as an ever-present threat to our local economy.

The property market is keeping the business community somewhat optimistic. The outlook for commodities is of interest at the moment.
A strong US dollar is good for Cairns but the US Dollar seems to be weakening.

A strong mining sector is good for business but it also seems to be weakening. Interest rates are anticipated to decline but potentially the US Dollar and commodity price outlooks will have a more significant influence on the Cairns economy in the coming years. Some new projects to refresh the region’s tourism offering and a few election promises would be welcomed…..just in case.

Cairns Report - September 2024