Mackay House Prices – 2024 Guide
Last month, Mackay had 38 properties available for rent and 88 for sale. Median property prices over the year range from $455,000 for houses to $317,000 for units. If you are looking for an investment property, consider houses in Mackay rented out for $540 PW with an annual rental yield of 6.2% and units rented for $400 PW with a rental yield of 7.4%. Prices are slowly rising, particularly in affluent estates, with some properties selling over-market value.
The Moranbah Property Market
Last month Moranbah had 101 properties available for rent and 151 properties for sale. Median property prices over the last year range from $355,000 for houses to $316,250 for units. If you are looking for an investment property, consider houses in Moranbah rent out for $650 PW with an annual rental yield of 9.8% and units rent for $680 PW with a rental yield of 11%. Based on the last years of sales, Moranbah has seen a compound growth rate of 8.4% for houses and 28% for units.
West Mackay Property Market
Last month West Mackay had 13 properties available for rent and 29 properties for sale. Median property prices over the last year range from $500,000 for houses to $320,00 for units. If you are looking for an investment property, houses in West Mackay rent out for $550 PW with an annual rental yield of 6.3% and units rent for $445 PW with a rental yield of 8%. Based on the last years of sales, West Mackay has seen a compound growth rate of 19% for houses and 4.9% for units.
Average time on Market
Mackay House Prices during Covid-19
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.
Mackay Property Market
Last month Mackay had 29 properties available for rent and 29 properties for sale. The Median property prices over the last year range from $455,000 for houses and $317,00 for units.
If you are looking for an investment property, houses in Mackay generally rent out for $540 PW with an annual rental yield of 6.2% and units rent for $400 PW with a rental yield of 7.4%. Based on the last years of sales, Mackay has seen a compound growth rate of 19.7% for houses and 15.3% for units.
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Recent Mackay Property Sales
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 $700k 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 early $400k range. Just check the body corporate fees though.
