June 24th, 2019
The Real Estate Institute of Queensland (REIQ) has been the state’s peak professional association for the real estate profession since 1918. Every quarter they review the market across the whole state. This market monitor has just been released. Here are some of the important findings for Mackay:
• Over the year ending March, its median house price growth of one per cent up to $339,000 was the best of all major regional areas
• Mackay’s volume of house sales also increased over the year by 1.9% to a total of 1,172 sales
• The rental market has remained one of the tightest in Queensland at a vacancy rate of under 3% with some rentals recording annual increases of $40 compared to the same period last year
Overall, the March quarter data reveals that the Mackay region is continuing to post early signs of a market recovery, with prices firming and activity increasing. There hasn’t been a better time over the past couple of years to buy or sell a property, so let’s make the most of these improved conditions today!