Why is it a good time for real estate investment in Mackay?
Mackay is not only known for being one of the most popular holiday destinations in Australia; it also boasts a booming real estate market which has seen massive growth over the last five to seven years. People from all over the world are turning their attention to this sunny, luscious and breath-taking city, which is located in central Queensland, because now more than ever before is a good time for real estate investment in Mackay. Here are five reasons why!
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Strong Regional Economy – Bolstered by major industries including coal mining, sugar cane production, cattle, marine services, retail and tourism.
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Gross Regional Product – Out of all the regions in Queensland, the Mackay Region recorded the strongest growth in GRP in 2005-2006.
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Growing Population – Mackay Region consistently reports population growth of between 2-3%. In 2006, there were over 151,000 people in the Mackay Region.
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Stable Labor Market – The Mackay Region has one of the lowest unemployment rates in Queensland and is home to over 83,000 workers.
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Consistent Tourist Influx – In 2006, Mackay welcomed almost 2,300,000 tourists to the city, which marked a 5% increase on the previous year!
After looking at the statistics, it’s easy to see why so many real estate consultants are recommending Mackay to their clients. If you looking to invest in your first property, find an amazing city to retire in or are simply looking for a new project to invest in, now is definitely a good time for real estate investment in Mackay.
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