REIQ Market Monitor September 2019

October 3rd, 2019

The Real Estate Institute of Queensland (REIQ) has been the state’s peak professional association for the real estate profession since 1918. Every quarter they review the market across the whole state. This market monitor has just been released for the June Quarter. Here are some of the important findings for Mackay:

• The Mackay house market continued its recovery as the annual median sale price increased 1.5 per cent, to $340,000, the best of all major regional Queensland areas

• The level of vendor discounting has fallen 6.1% over the year, indicating improved buyer confidence

• The region’s unit market saw significant activity with the year ending June, recording a 11.3 per cent increase

• Over the year the median weekly rent for a 3 bedroom house increased $20 up to $350

Overall, the September quarter data reveals that Mackay is well in truly in recovery mode. There hasn’t been a better time over the past few years to buy or sell your property, so let’s make the most of these improved conditions today!