What’s happening?
Mackay has claimed the top spot for regional property value growth in Queensland, with dwelling values increasing by 8.3% over the past quarter, according to CoreLogic’s Quarterly Regional Market Update.
This growth cements Mackay’s position as one of Australia’s leading regional markets, alongside Geraldton (8.2%) in Western Australia and Townsville (6.6%).
Why it matters?
Mackay’s impressive growth highlights the city’s affordability and appeal, attracting both investors and homebuyers seeking alternatives to the high costs of major cities.
As the top performer in Queensland, Mackay demonstrates resilience and growth potential despite broader economic challenges such as high interest rates and limited borrowing capacity.
Local Impact
The surge in property values reflects a strong demand for housing in Mackay, driven by its affordability and lifestyle offerings.
This growth is likely to benefit local businesses and the construction industry but may also lead to increased pressure on housing affordability for residents.
By the numbers
– 8.3%: Quarterly dwelling value growth, the highest in Queensland and the nation.
– 27.2%: Annual dwelling value growth, showcasing Mackay’s sustained property market strength.
– Less than $600,000: Median property value, making Mackay an attainable market for buyers despite significant growth.
Zoom In
CoreLogic Australia economist Kaytlin Ezzy attributed Mackay’s success to a combination of affordability, lifestyle appeal, and strong demand. “Regions like Mackay, Geraldton, and Townsville are seeing exceptional growth, driven by affordability advantages compared to our major cities, as well as lifestyle appeal,” she said.
Even with the sharp rise in values, Mackay’s median remains below $600,000, maintaining its accessibility for buyers.
Zoom Out
Regional markets across Queensland and Western Australia outperformed capital cities this quarter, with dwelling values in regional areas rising 1.1%, compared to 0.8% in capital cities.
While Mackay and other mining hubs thrive, coastal lifestyle markets in New South Wales and Victoria have faced downturns. For example, Batemans Bay saw values decline by 2.7% over the quarter.
What to look for next?
Mackay’s momentum suggests continued growth in property values and strong investor confidence.
However, affordability pressures may emerge as values rise. Stay tuned for further updates on Mackay’s rental market and how the city balances growth with housing accessibility in the months ahead.
