Investment property in Mackay has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 4.90%
Across a shorter period, Mackay, 4740 has seen a median price increase of 2.88% over the last quarter.
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Mackay, 4740. Typically our figures indicate that -11.08% is being offered, which puts this QLD suburb at 207th most discounted overall in Australia.
Advertised rents are around the $250 mark per week – giving a return of 4.86% based on the median price in Suburb
Property investors who have had real estate in Mackay, 4740 should be unhappy with this QLD suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -10.59%
While Mackay,4740 ranked number 315th in QLD for increase in median house value (annualised) increase, it is ranked 269th over the last 5 years.
At number 6th of QLD’s most discounted properties, Mackay is in the bottom 10% of the state/territory when listing in order of most discounted to least.
Mackay, 4740’s gross rental yield is 4.47%
Mackay has been one of the casualties of the downturn in the resources sector,but there are signs that the worst might be over.Full summary
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Mackay has been one of the casualties of the downturn in the resources sector,but there are signs that the worst might be over.Close
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.
Rental properties are also getting multiple applications according to Peter McFarlane, REIQ zone chairman for the Mackay district.
“There is increased confidence in the region due to local employment in the Bowen Basin mining sector becoming more secure as operations move from construction phase to production,” McFarlane said.
“Mackay is a different region because it has such diversified markets within the tourism, agriculture and mining industries, being the service hub for all three sectors.”