Mackay QLD
- Thread starter Joe
- Start date
Sounds awful like the bottom is falling out of the region, the contrarian investors amongst us will be getting ready to get into action (as their logic is if your friends have lost money or your friends arent buying that is the perfect reason to buy)
Yields are nice up there though - I have seen in passing 15% yields for holiday letting up there. In fact a quick search of the sites finds 26/26 Burke St Mackay $95K Y(2002) $14119
PS I dont know if there was any sarcasm in the previous posts - if there was then just ignore my post - it was not intended for you...
Yields are nice up there though - I have seen in passing 15% yields for holiday letting up there. In fact a quick search of the sites finds 26/26 Burke St Mackay $95K Y(2002) $14119
PS I dont know if there was any sarcasm in the previous posts - if there was then just ignore my post - it was not intended for you...
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.
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.
There you go Joe you've found a fellow investor in Topnotch, as in my first post - Im not looking in the area - just a perspective from afar that I thought you might find of interest.....
PS Have a look at that unit i posted, its probably 10yrs old so I doubt a rental guarantee is still is place.
PS Have a look at that unit i posted, its probably 10yrs old so I doubt a rental guarantee is still is place.
Future growth in any area is determined by increased demand over supply. There is little evidence that these factors will change in Mackay
