Property For Sale Mackay
Property For Sale – Mackay
When it comes to property for sale in Mackay, the market has bounced back from the slump we saw during the past decade. Mackay was previously one of the casualties of the downturn in the resources sector, but now there are signs that the worst is over.
Good news for buyers and sellers
For those looking for a bargain, the quarterly median house price remained around a half-million dollars in Ipswich ($515,000). Regional centres fared differently, Rockhampton dropped nearly $100k to ($225,000), Townsville rose to ($430,000), Bundaberg added $6k to ($406,000), Gladstone dropped $70k to ($327,000), Mackay lost $18k ($407,000), and Toowoomba added $60k to reach ($538,000).
Even as we face more interest rate rises, we expect this will take time to noticeably impact buyer’s pockets and sales prices, and in the meantime, the clear supply shortage will continue to tip the scales in favour of sellers, as buyers compete to secure a property in the region.
We still see certain suburbs outperforming the regional median average is most regional areas, so take the values shown here with a grain of salt.
Mackay Market Report – 2023
Mackay has 78 houses available for sale. The median property price for a house is currently 350,000 with annual capital growth of 2.94 . There were 67 house sales in the past 12 months. On average, houses spend 45 days on market.
If you’re thinking about buying an investment property in Mackay, consider that rental yields for houses are currently 6.98 with an average median rent of 410 weekly. Houses have seen 0.00 growth in the past quarter, and 2.94 growth in the past 12 months.
The size of Mackay is approximately 4.4 square kilometres. It has 12 parks covering nearly 5.3% of total area. The population of Mackay in 2011 was 4,070 people. By 2016 the population was 3,642 showing a population decline of 10.5% in the area during that time. The predominant age group in Mackay is 20-29 years.
Households in Mackay are primarily childless couples and are likely to be repaying $1400 – $1799 per month on mortgage repayments. In general, people in Mackay work in a professional occupation. In 2011, 31.8% of the homes in Mackay were owner-occupied compared with 31.8% in 2016.
Real Estate For Sale in Mackay
Mackay has become a popular Queensland town of late, with real estate for sale in Mackay becoming tough to come by. In saying that, you can still find a great seaside property on 700m2 blocks for under $400,000. In general house sales in Mackay have increased over the past 2 years. We feel that we are just past the bottom of the cycle, and therefore investors are starting to make their presence felt in the region.
What houses are for sale in Mackay?
You’ll find old Queenslander style homes and a range of new builds across the region. The old Queenslanders have lots of street appeal. Suburbs like West Mackay and South Mackay have seen investors and homeowners purchase property and renovate. North Mackay has bigger blocks if space is important to you.
Companies like PointGlen have introduced some great parcels of land in Shoal Point, Glenella, and Richmond Hills Estate. A new seaside development has begun near the Mackay Marina, called the Dunes Estate.
Blocks facing the ocean are around $400,000 and represent great value for money as this is a suburb on the rise.
Should I buy a property in Mackay?
If you are seeking a family home with a great lifestyle, Mackay is a great place to live. If you are a property investor and want to secure good rental returns for years to come, Mackay is also a good region to invest in.
The work/life balance in Mackay suits many people. With 70% of the region’s demographic consisting of young couples and families between the ages of 18-55, it’s no wonder it’s becoming a vibrant and exciting place to move to.
If you are researching houses for sale in Mackay and need more information, please contact our team at the Mackay Real Estate Guide.
House Sales - Mackay Update 2021
In 2021 House Sales – Mackay have seen a slight increase in value. Houses for Sale – Mackay rose by 2% indicating that the Covid-19 pandemic has had little effect on the Mackay Property Market. There has been a slight increase in the population as people move away from Brisbane, and the Southern States into regional townships like Mackay. There is a lack of stock at the moment and agents are seeking properties to sell. The time is right to sell your Mackay property.