According to the latest data from CoreLogic RP Data, the median house price climbed 8% to $395,000 during the past 12 months ending April.
The REIQ Quarterly Queensland Market Monitor report also showed a recovery in Mackay’s property market with properties on market receiving multiple offers.
There is a real shortage of property for sale in Mackay as southern investors buy-up in one of Queenslands’ top performing property markets. With rental yields exceeding 6%, there has never been a better time to invest in Mackay.
Investment property in Mackay has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 17.54%
Taking the average capital gain, or increase in median house value, Mackay, 4740 has racked up an average of 17.54% over the period.
Over the last year, property investments in Mackay, 4740 have given investors a capital gain of 22.35%. This compares very favourably with the 8.80% for QLD as a whole.
Over the longer term, Mackay has seen property prices show investors a 7.66% return over the last 3 years. This is an improvement over the last 12 months.
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.
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.
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.
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.