QLD has seen average median house prices change by 2.06% which means that Mackay, 4740 has done well for property investors by showing a capital gain of -5.66% over the last year
Across a shorter period, Mackay, 4740 has seen a median price increase of -0.99% over the last quarter.
LACK OF BUYER INTEREST may well be the reason that Mackay is offering property investors an average of -7.32. This rate of discount on properties puts Suburb at number 10th in terms of most discounted suburbs in QLD
QLD has seen average median house prices change by 0.98% which means that Mackay, 4740 has done well for property investors by showing a capital gain of -1.90% over the last year
If we look at median property appreciation over just the last three months, Mackay has given property investors a paper return of 4.87%. This puts Suburb as 28 on a list of fastest fasting appreciating suburbs in QLD
Our latest figures would indicate that property sellers in Mackay are currently offering property investors an average price cut of -13.15% below the asking price at the moment.
With the median price for a house in Mackay being $304125 and the advertised rent reaching $230 the gross rental yield for property investors calculates out to be 3.93%
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.”