Mackay Residents Info please

[outbackjack]

Hi All,

As above.

I am moving to Mackay and looking at buying a unit, however they all seem pretty expensive.

Like 210 to 280K for a 2 bedroom unit, around the Mackay area near Shakespeare street.

Could anyone in Mackay let me know where the market is at the moment in Mackay. I plan to be there for around 12 months and then move on. I will rent out when I am gone.


Cheers

 

[DaveJ]

Hi All,

As above.

I am moving to Mackay and looking at buying a unit, however they all seem pretty expensive.

Like 210 to 280K for a 2 bedroom unit, around the Mackay area near Shakespeare street.

Could anyone in Mackay let me know where the market is at the moment in Mackay. I plan to be there for around 12 months and then move on. I will rent out when I am gone.


Cheers

I went back there about 1 month ago.. I do not know exactly where the market is, but i did speak to a few realestate agents (i own IPs there). Their comments are it has leveled-off over the last 6-12mths from CRAZY since Aug2003. One comment was "It amazing - People are actually starting to make 'OFFERS'" (meaning they are not paying at or above asking price). Mackay is also more expensive then Brisbane which is a good sign that things will level off for a few years.
If you think things seem value for money then look into the prices of duplexes. In Aug03 they were about $150-170k for a set. Aug04 they were $220-$250k. Now they are around $410-$430k" Its anyones guess how Mackay will preform over the next few years

 

[BoatBoy]

And if it help's at all Rocky to the south is still climbing , I'm heading off in 10 minutes to check on the newie, and is still a bit cheaper than Mackay.

Plenty still reckon it has 20% plus left in it this year, I know our land that settled for $170 3 mth's back is now selling at $240k for the last block, and the next land release is in the up to $300k bracket.

With the new Clermont "Super mine" happening it may well do a bit more.

Saying that, It'll be our last project here me think's.

BB

 

[outbackjack]

Mackay

OK thanks.

Yes the unit I was intrested in was 259K, I offered 230K and was told they wouldnt go lower than 240K. This vendor brought in 2003 or so and payed top dollar for it then.

3 months ago I brought a house in Eagleby for 215K with a pool shed etc.

So go figure, cant seem to get a small unit at lower than 240k.

Different locations I know, but in the long term (10+ years) I wouldve thought that SE QLD would have a lot more going for it.

What will happen to Mackay when the coal industry goes?? Everything has a cycle, at the moment coal is on a high, however give it afew years and it will be back on a low.

My two bobs worth, I was just shocked on the prices.

Thanks for the input guys.

 

[Pitts]

I live two hours away from Mackay and travel there often. The prices have staled for a while. I did see the odd fixer uppers in your price range if you were interested or had time to do that sort of thing. There is one that I saw for 160k located within a resort complex, but you'd be up for body corp (dunno how much though).

If you would like I can send you the local real estate guides, just PM me.

Pitts