QLD Mackay Market

Good views and beaches, looking very rough and lots of natives, as far as I remember.

 

Indeed I am local. Most of Mackay is higher than avg income. Assume this is mining related however the town is quite diverse. It does need to be noted though however how some of this "diversity" is still tied to mining. ie. Engineering firms contracted to mining, the accountants, financial planners, RE groups all indirectly tied and managing these companies. Just something to be aware of.

Mackay is most certainly in a much better position than it was in 2010. However it is not immune to macro factors. This is coming from someone who has a significant vested interest. Local knowledge is absolutely key if you're considering purchasing.

I remember beautifully presented 4 bedroom homes selling for mid $2s in 2018 in an estate called "the Cove". Was less than 1km to waterfront beaches. I never understood until I heard it referred to as "Crack Cove". Make of that what you will.

 

Can I get some guidance on areas to rent in Mackay? My daughter is starting a graduate role there in January and is likely to be there for 2 years. We are planning on coming up in December to look around for houses or apartments for her to rent and it would be invaluable to have some local knowledge on places to focus on and those to avoid. Thanks in advance!

 

@JayOh it'll really depend on what budget, and amenities (and work location to an extent) your daughter is looking for. Does she want a house or unit, or to live near the city, beach or bush? To share, or live by herself...

And not meaning to put you off, but I had half a dozen great applicants (and 15 or so more not so great ones) for one of my vacant properties recently. Unless your daughter is paying a premium, it may be a case more of what's available at the time - rather than where she'd like to live, with such high rental demand.

 

Hey @JayOh
As @Icarus has pointed out rent issues here are crazy. It's obviously a nation wide problem but I'd argue Mackay is the issue on steroids. You really need to be making applications prior to moving. There is just too much demand. If it were me I'd be using the trip to identify suitable areas rather than specific properties as they'll most likely be already secured. Also contact local agents and get your daughter on a waiting list. I can help with some recommendations if you'd like.

As a guide my wife currently has the unenviable job of finding accommodation for 20 visa workers. They've been in and out of van parks whilst we prepare one of our rentals. Likely that place will house x6 tenants. This is quite common at the moment.

 

Thanks @Icarus @wilso8948
She will be working in the cbd and is currently looking on the north side, preferably close to beach. House or unit doesn't matter so much but not looking to share. Slade Point, Blacks Beach, Eimeo area, maybe Bucasia? up to $400 per week.. open to suggestions of other areas to consider

 

Slade point location is great but natives are rough. Stick close to the water but you'll pay a premium. Blacks Beach try to stay out of "crack" Cove (housing estate). Not as bad as it used to be but there's a reason nice houses in there appear cheap. Parts of Eimeo are fine, Bucasia also an ok spot if you can get on the beach side of Mackay Bucasia Rd.

$400/wk is going to be very limited for a house. Even old highsets in older parts of Mackay now pushing low/mid $500s. If not willing to share then I'd target units however not many nice ones in the Northern Beaches. Maybe a townhouse could be an option.

Don't write off South of the river also close to the beach. North is where everyone heads first but then hits traffic issues due to the bottlekneck of roads leading to the CBD. Only getting worse with more housing estates and no future road plans. South is extremely convenient to access the CBD and Paget where the predominant employment options are.

 

Interesting! What are some good pockets to look into in Mackay up to 400k mark? I'm looking for high cashflow, buy and hold, low maintenance.

 

I'd day you can have 2/3 of those things. It is easy to achieve under $400k and high cashflow however it will likely be in the older highsets which often require more maintenance. Also going in to suburbs which are conveniently located but often have demographic issues. If you know your street to street locations this can be mitigated.

 

Under $400k and low maintenance, I'd look at something like this this place... https://www.realestate.com.au/property-house-qld-beaconsfield-140182207

It's only a 3 bedder, so yield will be down a little (guessing $500-550pw) - but it's close to all amenities, and only 10 or so minutes to the CBD; and it'd be easy enough for your daughter to look after.

I'm very partial to the northside of the river... so Andergrove, Beaconsfield, North Mackay (newer side, away from water) and possibly Mount Pleasant are my pick for properties in your price point. You could go further out to the Northern Beaches, but not sure you'll get the same bang for your buck comparatively.

 

Just to clarify I think this was a separate post for under $400k purchase compared to the previous poster looking for a rental under $400pw for their daughter?

But agree with all your selections here. Mount P, Beaconsfield, etc all solid selections (some areas to avoid as usual). Andergrove is improving also but would put it further down the list.

The above property is solid also. Only negative is next to that laneway. Some interesting characters cut through there to Celeber Dr.

 

Argh, comprehension was never my strong point! And here I was looking for "daughter spec" properties!

Interesting characters - no one dodgy would ever go to WAS, would they (very tongue in cheek)? Cutting through there - they must be heading up to Pioneer...

Is the new Andergrove Maccas up and running yet? That'll be a drawcard; imagine how busy it'll be at 3:10pm weekday afternoons.

 

I've always been bemused by the location of WAS. Clapped out commos giving way to AMGs at the roundabout on Celeber Dr!

The maccas is most certainly up and running. As is that whole shopping complex with the new Coles. I think a Burger Urge going in there? Some other eateries.

In all seriousness Andergrove is certainly improving. I just put Mount P and certain parts of Beaconsfield above it.

 

Absolutely agree 100%! We had a place in Badila Crt a few years back, it was a fantastic spot - and would've lived there in a heartbeat.
Dropped into the new Coles complex when I was up doing the reno in April, grabbed a Byrnes Pie while I was there. I'm still partial to an Alcorn's though... It's a handy complex that'll service Sladey, Andergrove and Beaconsfield.

Location, location, location for WAS... at least there's no swamp at the back of the oval now - it's been turned into the wakeboard park!

 

Yep no more swamp. The wakeboard park is getting more popular. They run Sunday arvo events with live music and seem to be doing a decent job of attracting a good crowd. The estate surrounding it has increased also. There's now a large development focused on backpackers there.

Yep Byrnes square pie and a custard tart for me. Easily the best I've ever had and I've tried a few bakeries in Aus. You might be interested to note our friends who own the Dispensary now own Byrnes, hence the fresh new look but original taste. You probably even went to school with one of the Connors boys

 

Interesting discussion - I'm still spectating on this thread, the local knowledge here is great! My daughter and I will come up in a few weeks to start scouting around.

 

Slight change in direction for us - given the state of the rental market there my wife and I have decided to purchase instead and my daughter will pay rent. If she decides to leave when her contract expires in 2 years, we will rent the house out.

My daughter and I have just returned from our scouting trip - we spent a few days touring the area and checking out the options. We crossed quite a few areas off our shortlist (north and south), which made things much simpler, focusing on east and west and the CBD surrounds.

We looked at some apartments in the Rivage building which have some attraction, but the body corporate fees and noise from the water park are a bit much.

Our preference at the moment is split between a very nicely renovated 2-bedder in west mackay, on the east side of Nebo and an elevated queenslander on goldsmith street. The 2-bedder is over-priced and on a relatively small block, so not much scope for improvement but it doesn't really need anything (and my daughter loves it).

The queenslander is also very attractive, unfortunately it wasn't available for inspection so we didn't get to see the interior. Also it's next to some apartments that look questionable, not sure what type of tenants it attracts. The house is 83 Goldsmith and the apartments are 85 Goldsmith - is anyone familiar with this location?

 

Sure am. Send me a PM for my thoughts if you'd like.

 

Hi JayOh, how did you go with your decision? Did you end up purchasing property in Mackay?

There's still a huge rental demand in town. A property manager contact said that houses are being snapped up as soon as they're listed. Vacancy rate is below .5%.

We've had a good increase in rent and valuations across our 3 Mackay houses recently. Rent went up $50, $45 and $30 a week ($6500/yr increase in total), and vals are up 10 -15% over the past 12 months.

I'm getting a 9.5% (gross) return on a property purchased around this time last year (around 7% return once costs are factored in).

It'd be great to hear how you went!

 

If you’re willing to PM me (new member) I’d be certainly willing to discuss a few things as a new buyer living in Mackay