In 2015 the coal towns on the outskirts of Mackay, like Dysart and Moranbah held properties in the mid $700,000’s during the peak mining boom. Once the crash came values dropped by 66% and those properties valued in the $700,000 range dropped to $250,000.
On average, in 2021, property prices in Moranbah sit around the $350,000 range, and some even go over $500,000. In 2021, the market has levelled and there is more mining work in and around the Mackay region. We don’t expect a big bust anytime soon.
The volatility came from the low coal prices and red tape associated within the mining industry. There is a lot more stability in the region due to a diversification of industry sectors, like transport, logistics, healthcare, construction, and civil engineering.
Mackay was totally unaffected during the Covid-19 pandemic. The resources industry and our geographic location meant that the region was isolated from the exposure sites in the big cities.
Work and life continues as normal and as such, we have seen many people move away from the densely populated suburbs of South East Queensland, to live a healthier lifestyle in Mackay.
According to our research team, recent Mackay Property Sales data shows a slight upturn for homes, while units remain static. An entry level home within the CBD of Mackay will average $350-$400k, while affluent areas like Erakala and Richmond Hills still offer small acreage homes in the low $600k upwards range. If you go further afield like Sarina to the south, or Calen to the north, you’ll find acreage property in the $400k range.
If you want to sit on a balcony overlooking the magnificent Mackay Marina, an apartment can be found in the mid $300k range. Just check the body corporate fees though.