Suburb Profile Report for Mackay QLD (4740)

Mackay House: Median price $250,000, Annual capital growth -2.33%, Number of sales 23, Weekly median advertised rent $250

Mackay Unit: Median price $290,000, Annual capital growth 1.85%, Number of sales 47, Weekly median advertised rent $230

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

At number 3567th in the list of Australian suburbs ordered by increase in median house value over the last year, Mackay, 4740 is in the BOTTOM 20% with a property value increase of -5.66% recorded in median house prices.

The five-year average increase in median property values for Mackay,4740 has given property investors a potential capital gain of -35.06% across each of those five years.

The most recent median price for Mackay is $250000, with sellers offering an average of -14.29% off the asking price.

With the median price for a house in Mackay being $250000 and the advertised rent reaching $250 the gross rental yield for property investors calculates out to be 5.20%

Mackay has had a very poor year for property investment returns compared to the rest of QLD, giving investors a capital gain of -6.45% to date .

Taking the average capital gain, or increase in median house value, Mackay,4740 has racked up an average of -6.45% over the period. This ranks it number 1700th in the whole country for real estate investors looking at median house price increases.

State is the 4th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.14% offered to property buyers. Sellers in Mackay itself are offering an average vendor discount of -12.98% to real estate investors.

YIP MAG Information supplied by:

YIP MAG
July 2015

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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.Full summary

Mackay has been one of the casualties of the downturn in the resources sector,but there are signs that the worst might be over.

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.”

Close
Metrics i HOUSE UNIT
$250,000 $290,000
-1.96% 0.00%
-5.66% -6.45%
-2.33% 1.85%
$250 $230
23 47
5.20% 4.12%
88.52 122.15

Source: CoreLogic

DSR Score for property investment : Below average (H), Poor (U)
Find a mortgage broker in Mackay QLD
Demographics
Total population 4070
Median household income ($/weekly) 1173
Median age of persons 34
Median housing loan repayment ($/monthly) 1950
Average household size 2.1
  • Census Count Percent(%)
    20-24 years 467 11.5
    25-34 years 754 18.5
    35-44 years 597 14.7
    45-54 years 604 14.8
    55-64 years 398 9.8
    Others 1251 30.7
    Age Group
    Census Count Percent(%)
    Not Married 1436 52.9
    Registered Married 854 31.5
    Defacto Relationship 424 15.6
    Social Marital Status
  • Census Count Percent(%)
    Australia 2606 72.7
    Papua New Guinea 143 4.0
    Philippines 248 6.9
    United Kingdom 129 3.6
    Other 144 4.0
    Others 315 8.8
    Country of Birth
    Census Count Percent(%)
    Buddhism 40 1.2
    Christianity 2414 70.2
    Hinduism 69 2.0
    Other Religious Groups 34 1.0
    No Religion 847 24.6
    Others 34 1.0
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 134 9.7
    $400-$599 127 9.1
    $600-$799 121 8.7
    $1,000-$1,249 142 10.2
    $1,500-$1,999 188 13.5
    Others 676 48.7
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1525 50.7
    Not in the labour force 833 27.7
    Employed, worked part-time 426 14.2
    Employed, away from work 120 4.0
    Unemployed, looking for work 104 3.5
    Person Characteristics
  • Census Count Percent(%)
    Professionals 328 15.9
    Technicians & trades workers 438 21.2
    Clerical & administrative workers 208 10.1
    Machinery operators & drivers 244 11.8
    Labourers 311 15.0
    Others 538 26.0
    Occupation
    Census Count Percent(%)
    Pre-school 31 5.3
    Infants/Primary 216 36.9
    Secondary 145 24.7
    Technical or Further Educational Institution 92 15.7
    University or other Tertiary Institutions 80 13.7
    Others 22 3.8
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 1323 39.6
    Flat, unit or apartment 1104 33.1
    Semi-detached, row or terrace house, townhouse 881 26.4
    House or flat attached to a shop, office 28 0.8
    Caravan, cabin, houseboat 4 0.1
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 1025 66.8
    Being purchased 263 17.1
    Fully owned 243 15.8
    Other tenure type 4 0.3
    Tenure Type
Census 2011, ABS
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