Mackay has had a pretty average year for property investment returns compared to the rest of QLD, giving investors a capital gain of 2.88% to date .
When looking at the potential capital gains offered to property investors over the last 3 years, Mackay comes in at number 841th in QLD.
Mackay4740 is located in QLD which offers an average discount of -7.10% to property investors. Mackay itself is showing figures that indicate -11.25% is the average achievable by property buyers investing in the suburb.
Situated 801.11km from the CBD, Mackay is one of Mackay localities in the postcode 4740.
Investment property in Mackay has done pretty 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 -1.72%
Taking the average capital gain, or increase in median house value, Mackay,4740 has racked up an average of -1.72% 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 -6.08% offered to property buyers. Sellers in Mackay itself are offering an average vendor discount of -12.87% to real estate investors.
A $230 per week rent on the median house gives suburb investors a gross yield of circa 4.20%, without taking into account capital value appreciation, which has been averaging out at 1.26%.
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.”