The secret’s out – investors and home owners alike are rediscovering hot property in Mackay. But why is this region looking so alluring? We put it down to three key factors – population and job growth, location and some exciting local developments.
Population and jobs are growing
The Mackay Regional Local Government Area is said to be one of the fastest growing in Queensland, with its population of 130,000 set to double in the next couple of decades. It’s not just population that’s growing either; Mackay had employment growth of 4.2% as of August 2018, beating Queensland’s average of 3.9%. The unemployment rate also beat the 6.1% state average at 3.3%. What does this mean? More available jobs and more people working, contributing to a happy and healthy local economy – and that’s great news for the Mackay property market.
The location couldn’t be better
Investors will be hard-pressed to find a better location than Mackay. It’s around 30 kilometres from the southernmost Whitsunday Islands, and a short boat ride from glorious Brampton Island, while the area’s beaches boast some of the best fishing in the state. Mackay is also on the Bruce Highway between Townsville and Rockhampton, which means that the area’s restaurant and café scene is right on point. The area’s sugar canes, tourism and mining industries provide quality work options that are close to home. Plus, the Mackay property market provides plenty of opportunities at a significantly lower price than elsewhere in the state and across Australia, with a current average house price of just $285,000.
Exciting things are happening in the area
Mackay is seeing a lot of new development. There’s the brand-new $23.9 million Mackay Aquatic and Recreation Complex, the $500 million Ring Road project set for completion in 2020, and the Mackay Waterfront project in the works. We’re also seeing this confidence draw other investors to the area with new businesses and commercial buildings, which once again reflects a healthy economy. Keep your eye out for further developments that will boost the local area as investors discover the prospects here.
And with property prices looking like they’re bouncing back, it appears to be a buyer’s market in one of Queensland’s most desirable lifestyle locations. Now could just be the perfect time to explore property in Mackay. Check out the latest homes and lots for sale at Plantation Palms, just 5 minutes from world-class beaches and 15 minutes from Mackay’s CBD and harbour.