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PRD Mackay  →  Research Hub  →  Mackay Property Market Update 2nd Half of 2021

Mackay Property Market Update 2nd Half of 2021

In Q3 2021, Mackay recorded a median house price of $367,000, and a median unit price of $280,000. This represents annual (Q3 2020 – Q3 2021) median price growth of 5.1% for houses and 6.1% for units. Between Q3 2020 – Q3 2021 total sales increased, by 5.8% for houses (to 219 sales) and by 29.8% for units (to 74 sales). Current market conditions indicate real returns in capital investment and high demand, as median price growth is alongside increased sales volumes. Now is an ideal time for property owners to transact. First home buyers can still benefit from a relatively affordable unit market.

In Q3 2021, Mackay recorded a median house price of $367,000, and a median unit price of $280,000. This represents annual (Q3 2020 – Q3 2021) median price growth of 5.1% for houses and 6.1% for units. Between Q3 2020 – Q3 2021 total sales increased, by 5.8% for houses (to 219 sales) and by 29.8% for units (to 74 sales). Current market conditions indicate real returns in capital investment and high demand, as median price growth is alongside increased sales volumes. Now is an ideal time for property owners to transact. First home buyers can still benefit from a relatively affordable unit market.

Average vendor discounts between Q3 2020 and Q3 2021 have tightened for both property types, to -1.8% for house and -3.0% for units. Market conditions in Mackay have now shifted to favour sellers, where buyers are more willing to offer closer to the first list price to secure their dream home. Now is an ideal time for vendors to sell.

In September 2021, house rental yields in Mackay were recorded at an attractive 6.0%. In the 12 months to Q3 2021, the median house rental price increased by 6.3% to reach $420 per week, further complemented with low average days on the market (19 days). There is a healthy rental market in Mackay, with investors benefitting from a highly demanded market.

3 bedroom houses have provided investors with +10.5% rental growth annually, with a median rent of $420 per week.

Also in September 2021, Mackay recorded a low vacancy rate of 0.6%, on par with Mackay LGA and Brisbane Metro (1.4%). Vacancy rates in Mackay have continued on a declining trend over the past 12 months and remain well below the Real Estate Institute of Australia’s healthy benchmark of 3.0%, even amidst COVID-19 recovery conditions. There is an increasingly higher rental demand and investors can be confident of a conducive investment environment in Mackay.

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