My understanding is Holliday units up here (specifically Airlie Beach) get sold for a guarantied return for a limited time frame. Judging by the number of lights on at night, indicate low occupancy rates. The grape vine says the initially guaranteed return is build into the sales price. IMHO the rental for most of these units is way to high for our domestic Holliday market to facilitate these returns.
On Holliday units in Mackay you possibly will find a similar situation, further I would not call Mackay a typical Holliday destination.
Topnotch: where was your lady friend’s house in Mackay and when and for how much and when did she buy and sell?
XBenX: I don’t know if the bottom is falling out of the market in Mackay, but I do now we've being ripped off with three Mackay property trusts. Accountant deregistered, ASSIC involved and presumably some people are going to spend some considerable time in very secure and heavily subsidized accommodation. Yes, the not exactly flourishing sugar industry is certainly a negative influence for the region. But then there is also the expanding coal mining industry as well as Mackay being the regional center for the tourism industry that needs to be taken in consideration.