Mackay House Prices
Mackay House Prices – 2022 Guide
As a general rule, the last two years has seen Mackay House Prices remain stable. Recent and upcoming infrastructure projects will see prices continue to climb in the next few years. Local, state and federal governments have slowly invested into the region as it sees the economic value Mackay brings to the GDP within its resources sector.
Why have Mackay House Prices traditionally been volatile?
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.
Moranbah has 61 properties available for rent and 179 properties for sale. Median property prices over the last year range from $300,000 for houses to $305,000 for units.
If you are looking for an investment property, consider houses in Moranbah rent out for $435 PW with an annual rental yield of 7.5% and units rent for $480 PW with a rental yield of 8.2%. Based on five years of sales, Moranbah has seen a compound growth rate of 16.5% for houses and 21.5% for units.
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 has 27 properties available for rent and 87 properties for sale. Median property prices over the last year range from $367,500 for houses to $255,000 for units.
If you are looking for an investment property, consider houses in Mackay rent out for $375 PW with an annual rental yield of 5.3% and units rent for $335 PW with a rental yield of 6.8%. Based on five years of sales, Mackay has seen a compound growth rate of 9.4% for houses and -1.9% 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.
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 $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.