Investment property in South Mackay has done 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 -7.14%
While South Mackay,4740 ranked number 781th in QLD for increase in median house value (annualised) increase, it is ranked 713th over the last 5 years.
Property investors looking for a bargain in South Mackay should be aiming for at least -15.06% off the asking price, which is the average vendor discount being achieved at the moment.
On average over the past year, suburb has had 6.25 sales per month, which equates to 75 per year.
Advertised rents are around the $287.5 mark per week – giving a return of 5.75% based on the median price in Suburb
South Mackay, 4740 ranked 363th in QLD when comparing growth in median property values or capital gain over the last 12 months. South Mackay is one of 2415 in our list for QLD
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in South Mackay has fallen somewhat when compared to the 5 year average annual rate.
Our latest figures would indicate that property sellers in South Mackay are currently offering property investors an average price cut of -21.19% below the asking price at the moment.
In the last year 15 properties changed hands in South Mackay, which puts it as the 341th most active market in QLD when comparing the number of sales per suburb.
With the median price for a house in South Mackay being $175000 and the advertised rent reaching $220 the gross rental yield for property investors calculates out to be 6.54%