With a capital gain of 1.45% for the last 12 months, Mackay, 4740 has performed for property investments than its average annual -1.46% 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
Situated 801.10km from the CBD, Mackay is one of Mackay localities in the postcode 4740.
Giving property investors a a poor capital gain of -10.55% for the last year, Mackay, 4740 is the 1576th highest performer in Australia in this respect.
Taking the average capital gain, or increase in median house value, Mackay,4740 has racked up an average of -10.55% over the period. This ranks it number 1683th in the whole country for real estate investors looking at median house price increases.
Using the current median advertised rental of $230 and the average annual increase in value of a median property of 2.50%, investors should hope to achieve an overall return of 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.”