Mackay - Far North Queensland
The Mackay property market, previously impacted by the downturn in the resources sector, is now recovering.
Falling unemployment, rising tourist numbers, an increasing number of large construction projects and the introduction of the Qantas Pilot Training Academy have renewed confidence in the local economy, leading to a reduction in real estate vacancies and a return to growth in prices and rentals.
The previous boom in Mackay was heavily driven by mining. This time around, the local economy is carefully gathering impetus on a diversity of industries, not just coal mining. Construction, logistics, agribusiness and tourism are all contributing and providing employment opportunities.
The mining industry remains pertinent; commodity prices and overseas demand have lifted, prompting miners to re-examine their businesses and proceed with expansion plans that were temporarily shelved.
In anticipation of population growth and increased freight movements, three levels of government are spending serious money on transport and general infrastructure.
The popular Whitsunday Islands, part of the Great Barrier Reef tourist mecca, are near Mackay, creating a relaxed water-based lifestyle. This, together with housing affordability and job opportunities, makes Mackay worthy of consideration by investors and first-home buyers.
This report covers the towns / suburbs of Beaconsfield, Bucasia, East Mackay, Eimeo, Glenella, Mackay, North Mackay, Sarina, South Mackay, Walkerston and West Mackay.
Mackay was Hotspot of the Week on 13 August 2019