THE flames may have slowed slightly, but there's still plenty of fire in the Cairns housing market with the median price rising to $377,500.

THE flames may have slowed slightly, but there's still plenty of fire in the Cairns housing market with the median price rising to $377,500.

Even with interest rate rises, there is nothing to suggest any widespread slowdown in the market, according to independent property advisers Herron Todd White.

The company's research director Rick Carr yesterday said the new median price taken at the end of November 2007 was a jump of 14 per cent from the $331,000 for the same month in 2006.

Mr Carr said while interest rate rises had not dented the market, they were impacting on the affordability criteria.

"People are being forced to revise their expectations when they look at buying a house," Mr Carr said.

He said the percentage increase was down on previous years but there was obviously still plenty of strength in the market.

"In percentage terms, the price growth is coming back.

"In the past couple of years the price growth has typically been in the 15-20 per cent range. Now it's 10-15 per cent."

Mr Carr said while there was a 14 per cent change in the median price, the growth in the second half of the year had been slower.

The Cairns market compared favourably with its northern neighbour Townsville where the median price in November was $364,000 and still growing at a comparative rate.

While the rises may be good news for sellers, times are getting tougher for buyers.

Mr Carr said agents had reported a slowing of stock coming onto the market.

It was with largely people with genuine reasons for selling, such as relocation, that were making up the bulk of new sellers, he said.

Ray White Central selling principal Angela Capitanio said supply was tight in the median price bracket.

"A lot of people are looking for newer homes and there is a lack of supply in that range, particularly in the suburbs regarded as more desirable," Ms Capitanio said.

In the $400,000-$450,000 range there was still good value and good houses available.