2024 Mackay house prices

When discussing 2024 Mackay house prices, the first real estate question I get asked is, “Are house prices going up in Mackay?” As a general rule, over the past 20 years, the Mackay property market has had steady median house price growth.

In fact, the latest news over the past week has indicated that it is an investor’s playground among Queensland properties, with rental yields achieving between 5% and 7%, making it a better choice than the Gold Coast.

2024 Mackay House Prices – For sale by owner

We are not seeing many Mackay houses for sale by owner, as agents are getting above-market prices a greater percentage of the time. Buyers and sellers are transitioning quickly in the local real estate market.

Mackay housing hot spot

Some of the best suburbs to invest in include West Mackay according to a recent Mackay housing market forecast that showed this suburb’s median price hovering at $500,000. Unit prices were $320,000 at the same time.

Property prices remained stable even during the 12 rate rises by the RBA. In fact, Mackay property prices over the last 10 years have been stable, or recovered quickly after any economic impact.

Cheap houses for sale in Mackay

This depends on your definition of ‘cheap.’ Yes, some properties can be valued under $300k. However, they will require severe renovation or be in a flood-risk zone.

A safe starting point would be $450k. For this amount, you will find modern homes in Blacks Beach Cove or perhaps Royal Sands near Bucasia. Both are investor estates.

Houses for Sale Mackay under $500,000

There are dozens of properties that fall into this category. You can find houses in the CBD suburbs in this property price range. Generally, South Mackay holds most of the sub $500k properties, with East and North Mackay making up the balance.

Just be aware of the flood zones. Check with Mackay Regional Council on their flood maps. Pay close attention to rivers, creeks, and coastal flooding.

At $500k plus, you’ll find better homes in more sought-after suburbs, like Glenella, Rural View, and Beaconsfield.