Property value increases in Mackay have tracked just lower than the QLD average of 2.51% over the last 12 months.
Across a shorter period, Mackay, 4740 has seen a median price increase of 1.00% over the last quarter.
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Mackay, 4740. Typically our figures indicate that -12.12% is being offered, which puts this QLD suburb at 162th most discounted overall in Australia.
Often selling an investment property can take time, and in Mackay the average time real estate has been on the market is 78.7 days.
Mackay is 163th on a list of best yielding suburbs for rents in QLD with a 5.35% return
Giving property investors a a poor capital gain of -6.35% for the last year, Mackay, 4740 is the 1459th highest performer in Australia in this respect.
A -3.45% growth in median value for property investors in Mackay,4740 puts this suburb at number 337th in terms of best performing suburbs in QLD
Property buyers and investors in Mackay 4740 should be seeing an average reduction in asking price of around -12.67% . This means that Mackay is holding prices well when compared to other suburbs in QLD.
In the last year 47 properties changed hands in Mackay, which puts it as the 183th most active market in QLD when comparing the number of sales per suburb.
Property investors should expect to get $240 weekly from the median priced house in this suburb.
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.”