With a capital gain of 0.94% for the last 12 months, Mackay, 4740 has performed for property investments than its average annual -1.69% property growth over the last 5 years.
Comparing Mackay,4740 ‘s 5year and quarterly average capital gain offered to property investors, it performed better across the longer period
With the median price for a house in Mackay being $267500 and the advertised rent reaching $270 the gross rental yield for property investors calculates out to be 5.25%
QLD has seen average median house prices change by 1.23% which means that Mackay, 4740 has done well for property investors by showing a capital gain of -25.56% over the last year
Mackay,4740 has offered an average of -25.56% return per annum in house price rises to property investors over the last three years.
At number 1st 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.
Using the current median advertised rental of $240 and the average annual increase in value of a median property of 2.80%, investors should hope to achieve an overall return of 4.20%
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.”