QLD has seen average median house prices change by 1.98% which means that Mackay, 4740 has done well for property investors by showing a capital gain of -14.53% over the last year
Mackay,4740 was ranked 3199 in Australia by increase in median property value over the quarter.
LACK OF BUYER INTEREST may well be the reason that Mackay is offering property investors an average of -7.32. This rate of discount on properties puts Suburb at number 8th in terms of most discounted suburbs in QLD
At number 3583 in a list of fastest selling suburbs, Mackay is in the bottom 10% of suburbs in Australia with an average of days on market 147.46 for properties listed there.
The QLD suburb of Mackay, 4740 is in the Mackay local government area.
Property value increases in Mackay have tracked lower than the QLD average of 0.77% over the last 12 months.
Mackay,4740 was ranked 1190 in Australia by increase in median property value over the quarter.
Property investors looking for a bargain in Mackay should be aiming for at least -18.89% off the asking price, which is the average vendor discount being achieved at the moment.
At number 1426 in a list of fastest selling suburbs, Mackay is in the bottom 10% of suburbs in Australia with an average of days on market 144.84 for properties listed there.
With the median price for a house in Mackay being $295000 and the advertised rent reaching $240 the gross rental yield for property investors calculates out to be 4.23%
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.”