The figures are in, and regional Queensland is becoming increasingly popular with buyers seeking sea changes, tree changes and a better work-life balance. Realestate.com.au has reported that some areas such as suburbs around Ipswich and Toowoomba have seen up to 28% increases in the past 12 months. Regional property values across Australia have been growing faster than capital city prices for the first time in almost 15 years, increasing 6.9% in the 12 months to December 2020 compared to the 2% average of capital cities. Now could be the time to look for the best investment suburbs in Queensland.
So what does this mean for people looking to buy in Mackay?
While the most extreme growth has largely been centred around regional areas close to capital cities, a recent Australian Financial Review article outlined Mackay as a key area of focus for returning investors, identifying the region as one of the country’s most affordable regions with strong growth prospects. It’s certainly not too late to get into this desirable location, with a median house price of $328,500 as of March 2021. With plenty of existing and planned infrastructure, its own airport, world-class uncrowded beaches and an extraordinary hinterland to explore, real estate in Mackay offers everything sea-changers and tree-changers might be seeking. The Mackay property market also has everything needed for steady growth, thanks to the local mining and sugar industries, great schools and steady population growth.
What will prices do over time in regional Queensland?
While it’s impossible to know exactly how Queensland’s regional property markets will behave as vaccines roll out and the world settles into its new normal, it’s worth looking to the areas that will offer lifestyle and professional appeal over the long term. This is just one of the reasons that people might be looking to make Mackay investments before others catch on.
How to get started
If you’ve been considering a property investment in Mackay and surrounds, it’s easy to get started. Building a new home could be an ideal way to capitalise in this highly covetable location. Explore the house and land packages available at Plantation Palms from reputable local builders, and visit our display home on Palmetto Crescent to get a sense of the excellent value you could find in Rural View. With a masterplan that balances homes, public spaces, educational and medical facilities and the natural landscape, Plantation Palms has everything needed to make a great life and a potentially rewarding investment in regional Queensland.