At number 1248th in the list of Australian suburbs ordered by increase in median house value over the last year, Mackay, 4740 is in the top 30% with a property value increase of 17.86% recorded in median house prices.
Taking the average capital gain, or increase in median house value, Mackay,4740 has racked up an average of 17.86% over the period. This ranks it number 1871th in the whole country for real estate investors looking at median house price increases.
The most recent median price for Mackay is $330000, with sellers offering an average of -7.32% off the asking price.
Renters in Suburb are facing rents around $19760 per annum or $380 every week.
Mackay has had a A very good year for property investment returns compared to the rest of QLD, giving investors a capital gain of 23.81% to date .
When looking at the potential capital gains offered to property investors over the last 3 years, Mackay comes in at number 178th in QLD.
Property buyers and investors in Mackay 4740 should be seeing an average reduction in asking price of around -5.32% . This means that Mackay is holding prices well when compared to other suburbs in QLD.
Often selling an investment property can take time, and in Mackay the average time real estate has been on the market is 83.7714 days.
Renters in Suburb are facing rents around $16120 per annum or $310 every week.
Information supplied by:
Mackay has been one of the casualties of the downturn in the resources sector,but there are signs that the worst might be over.
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.”