Mackay, 4740 ranked 497th in QLD when comparing growth in median property values or capital gain over the last 12 months. Mackay is one of 2415 in our list for QLD
Mackay,4740 was ranked 770 in Australia by increase in median property value over the quarter.
Our latest figures would indicate that property sellers in Mackay are currently offering property investors an average price cut of -16.02% below the asking price at the moment.
Situated 801.20km from the CBD, Mackay is one of Mackay localities in the postcode 4740.
With a capital gain of -1.67% for the last 12 months, Mackay, 4740 has performed for property investments than its average annual 3.21% property growth over the last 5 years.
If we look at median property appreciation over just the last three months, Mackay has given property investors a paper return of 11.82%. This puts Suburb as 17 on a list of fastest fasting appreciating suburbs in QLD
Advertised rents are around the $235 mark per week – giving a return of 3.66% based on the median price in 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.”