BT, I think you may be right when looking long term into Mackay's growth, there are a large number of projects on the horizon that should increase the number of workers moving to the area and the amount of $ that's being spent in the region.
Add these to the Hay Point expansion and a number of new mines popping up in the Bowen Basin as well as possible flow on effect from the Galilee Basin then Mackay should continue it's steady growth.
There are some pretty good bargains (IMO) that have come onto the market lately - decent 3br brick houses in good suburbs out of flood area for around the $300k mark that would get close to $400pw with a slight cosmetic reno.
I'm heading back up there again tomorrow so will have a little more of a look around - we're currently subdividing a block with the intention of building a house on each block - it's taking a little longer than planned - thanks to the the council. We started on the application just under 12 months ago.
BT, which areas are your potential developments in? There are some 1000m2+ high density blocks that have been popping up around the back of Milton St that a mate keeps forwarding through to me. 5+ townhouse dev't potential.
Will be interesting to see what happens to the market in a couple of years, not sure it'll boom in the way it went in the late 90's early-mid 2000's, but the figures work for us at the moment so will keep plugging away.
What are other's thoughts?