News

Mackay Property Market Recovery

By Tammy Laval

THE regions’ property markets are tightening in the market indicating a recovery, trending similar to Bundaberg.

After facing a resources slowdown and falling prices, Mackay, Rockhampton and Gladstone may finally be about to see an improvement.

Property analyst for Hotspotting, Terry Ryder, said dropping vacancy rates in those regions is promising.

“The reality is that you are not going to get price growth in a market that has vacancy rates of 5 or 6 or 10%,” Mr Ryder said.

“If vacancies are down then the market is going to be flat in all respects.

Mr. Ryder said a market showing the strongest turn around for those regions was Mackay, with vacancies going down, and sales activity rising.

“We are starting to see actual signs of price growth there. It is kind of ahead of all those other places that were impacted, Gladstone, Rockhampton, Emerald, the Moranbah’s of this world,” he said. “So you have got vacancies down, sales activity picking up and if that continues we are going to get those prices turning around and starting to rise again in the not too distant future.”

Terry Ryder – Hotspotting

Up to Date

Latest News

  • Steady Growth for Mackay Region

    A couple of years on and Mackay’s property market can at least ease the belt buckle! Property Research company Propertyology, has tagged Mackay as one out of six regional markets that can expect growth in its housing market. This growth is usually associated with price increases in city and regional … Read more

    Read Full Post

  • QLD’s Economy propped by Mines

    Latest figures from the Chamber of Commerce and Industry Queensland (CCIQ) confirm the state has helped the nation continue to trade at a surplus. With $1.925 billion recorded in November data by the Australian Bureau of Statistics. Simon Vigliante, Mackay Chamber Treasure, said: “the coal industry in the Bowen … Read more

    Read Full Post