A DIP in the residential property sector has apparently failed to dent the top end of the market. 

Real estate agents say there is a slowdown in demand for properties priced at the median to lower end of the scale, but luxury homes are still attracting plenty of interest.

"The market changes haven’t affected the top end of the market, it’s a sector where there’s always demand," Vista Realty agent Pauline Halsall said.

"Things like interest rates have hit people more like mums and dads and people on middle incomes.''

Ms Halsall said a luxury Port Douglas apartment, in exclusive Murphy St, had already attracted several inquiries from prospective buyers just days after being listed for sale at $1.8 million.

The three-level residence is in The Hill Apartments complex and has extensive views to Four Mile Beach and beyond to the Coral Sea.

"It is one of few apartments to have its own lawn. The owners are Port Douglas people who want to expand into other areas,'' Ms Halsall said.

Herron Todd White property analyst Rick Carr said demand for properties above $400,000 was good, as buyers were less interest rate sensitive.

"The economy is going well and there’s still a lot of money out there," he told The Cairns Post this week.

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