Investment property in Mackay has done poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -21.21%
The most recent median price for Mackay is $260000, with sellers offering an average of -24.37% off the asking price.
Property investors should expect to get $270 weekly from the median priced house in this suburb.
Property value increases in Mackay have tracked lower than the QLD average of 1.47% over the last 12 months.
While Mackay,4740 ranked number 67th in QLD for increase in median house value (annualised) increase, it is ranked 248th over the last 5 years.
Mackay, 4740 is offering QLD ‘s most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 10% of discounts offered by this QLD.
Situated 801.91km from the CBD, Mackay is one of Mackay localities in the postcode 4740.
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.”