Deciding on where, when and how to invest in real estate is always an important process. And with so much advice available on property investment in Australia, how do you know what to listen to? From interest rates, price falls and median house prices to unemployment rates, and population growth across the country, sometimes you just need real estate and property market advice about the specific area you’re looking at.
So if you’re considering an investment property in Mackay, take a look at these three reasons to go ahead and buy.
When it comes to real estate, investing in areas with upcoming developments and infrastructural projects is always a good idea.
Millions of dollars have recently been invested in all sorts of projects across the Mackay area. From the $500million Ring Road project (dubbed as the biggest government funded infrastructure project in Mackay’s history) to the $40 million, the Government is investing heavily in the development of Mackay across several industries. The opening of the Galilee Basin is also likely to bring at least five other major mining projects in the region creating a demand for jobs and housing.
Experts believe that Mackay is at the cusp of its highest ever growth period. As capital and infrastructure projects come in to the area, Mackay and the surrounding area will experience jobs growth which will in turn create a population growth. Experts believe that the population will rise from 298,000 residents to 550,000 over the next 23 years. And when population numbers rise, so does the demand for housing. In fact, in order for housing supply to keep up with the population, over 100,000 new homes will need to be built.
So whether you’re looking for a place to live, a long term investment or a buy-to-let opportunity, investing in a Mackay property now is a safe bet.
A Long Term Investment
The Mackay area offers fantastic opportunities for capital growth thanks to its future economic prospects as well as factors like liveability and affordability. With the median house price currently at an affordable $285k and population & economic growth likely to continue for quite some time, it is one of the prime areas for real estate investing in Australia. Home buyers and those interested in commercial real estate investing alike will benefit in the long term from purchasing properties now, particularly in new housing estates and areas of new developments.
Ready to buy in Mackay?
If you’re looking for properties for sale in Mackay, check out our catalogue of available properties. Or for more information on the Plantation Palms development, download a copy of our master plan or check out our website for the overall vision. Whether you are looking to purchase a home, land or a house and land package, we have options for you!