Mackay House Prices – 2023 Guide
Last month Mackay had 50 properties available for rent and 83 properties for sale. Median property prices over the last year range from $359,000 for houses to $255,000 for units. If you are looking for an investment property, consider houses in Mackay rent out for $430 PW with an annual rental yield of 6.3% and units rent for $350 PW with a rental yield of 7.8%. Prices are slowly continuing to rise, particularly in affluent estates with some properties fetching over market value.
The Moranbah Property Market
Last month Moranbah had 70 properties available for rent and 156 properties for sale. Median property prices over the last year range from \$330,000 for houses to \$250,000 for units. If you are looking for an investment property, consider houses in Moranbah rent out for $500 PW with an annual rental yield of 8.1% and units rent for $520 PW with a rental yield of 9.2%. Based on five years of sales, Moranbah has seen a compound growth rate of 7.3% for houses and -3.8% for units.
Property investors enjoyed capital gains of 10% over the last 12 months in MORANBAH, translating to lower returns compared with its peers in QLD.
A survey of average capital gains or median home price increase in suburbs across the country shows that the QLD suburb obtained a -4.46% decrease over a ten-year period. It ranks 1st on our list of suburbs that property investors should look into.
MORANBAH, 4744 has a capital gain of 10% for the past year, which is lower than average compared to its 83.33% growth within a five-year period.
With the median home price in MORANBAH sitting at $330,000, and the average rent at $475, property owners could potentially earn a 7.48% increase in gross rental yield.
A 10% increase in median property prices in MORANBAH, 4744 has allowed this suburb to join the ranks of best performing suburbs in QLD, settling at number 1st.
Figures from the previous quarter show that capital gains for real estate buyers in MORANBAH are low, as opposed to average gains per annum over the past five years.
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 $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.
