Mackay is in the bottom 20% in QLD when comparing median price capital growth over the last year. Mackay gave property investors a dismal capital gain figure when compared to the rest of the state, with -5.26%.
The five-year average increase in median property values for Mackay,4740 has given property investors a potential capital gain of -32.50% across each of those five years.
Mackay, 4740 is offering QLD ‘s 51th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 10% of discounts offered by this QLD.
The QLD suburb of Mackay, 4740 is in the Mackay (R) local government area.
Mackay has had a A very good year for property investment returns compared to the rest of QLD, giving investors a capital gain of 9.18% to date .
The five-year average increase in median property values for Mackay,4740 has given property investors a potential capital gain of -19.41% across each of those five years.
Sellers are offering property buyers an average discount of -9.86% to buyers in Mackay at the moment, which is less than average for the rest of QLD.
Often selling an investment property can take time, and in Mackay the average time real estate has been on the market is 93.1481 days.
Advertised rents are around the $250 mark per week – giving a return of 4.86% based on the median price in Suburb
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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.
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.”