With an active property market as well as an active rental market in most locations, many Aussie homeowners are considering what the best next step for them might be right now. Is it better to sell your home while so many are looking to upgrade and invest, or to rent your home out and capitalise on the strong demand for rentals?
While the answer will ultimately depend on your unique circumstances, it pays to look at the figures when making a choice such as this. Let’s take for example Mackay investments near Queensland’s Whitsunday coast.
Mackay’s housing demand
The median house price in Mackay is at around $352,500 as of April 2021, up from $280,000 in May last year. There’s clearly a healthy demand for real estate for sale in Mackay, as people discover Mackay’s top location close to stunning beaches, lush rainforest and diverse employment opportunities. Neighbourhoods such as Plantation Palms in Rural View are offering ideal value for first home buyers and upgraders alike, with flexibility to build with their builder of choice and a range of house and land packages in Mackay. Queensland’s building incentives are also adding to the appeal for many buyers, with grants and concessions available for first home buyers and those building a new home. For anyone thinking about selling their home right now, it’s fair to say there’s interest and demand in the Mackay area.
However, rental demand in this area is also proving strong – which is an important consideration for anyone looking to rent out an investment property.
Mackay’s rental demand
With a current average rental rate of $400 for a 3-bedroom home, Mackay offers a fantastic lifestyle for renters as well as a solid return for landlords. With a strong commercial industry, new infrastructure in the works and the mining and sugar industries close by, there’s plenty of opportunity for people moving to the area.
So if you’re wondering what you should do with your home, the choice is really yours to make. The numbers indicate that demand is robust for property for sale as well as to rent. This provides some options in terms of Mackay investments, whether you’re looking to sell, rent out your first home as an investment property or to build now with the intention of renting later.
If you’re just getting started on a new home build or are looking for the ideal house and land package in Mackay, then we’d welcome you to explore Plantation Palms in Rural View and discover great lots close to the beach and city centre. Plantation Palms’ Land Display Centre is open Monday, Friday and Saturday from 10am to 4pm.