It also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.Investors saw the median home price rise to $290,000
The augmented property values in the suburb are trailing above the territorial average of 2.39% in 2016.
On the other hand, based on current median home prices for the suburb, Real estate investors could earn a rental income of $300.
Home owners selling their properties and realtors in SOUTH MACKAY usually have to wait an average of 73.2 days days before their assets are lifted off the market.
The QLD suburb ranks 145th on the list of best yielding suburbs for rental properties in QLD, posting a 5.38% return.
It also places places 117th in Australia based on median property value growth during the quarter.
Property investors enjoyed capital gains of 17.36% over the last 12 months in SOUTH MACKAY, translating to lower returns compared with its peers in QLD.
A survey of average capital gains or median home price increase in suburbs across the country shows that SOUTH MACKAY, 4740 obtained a -2.06% decrease over a ten-year period. It ranks 1657th on our list of suburbs that property investors should look into.
SOUTH MACKAY, 4740 has a capital gain of 17.36% for the past year, which is higher than average compared to its -28.88% growth within a five-year period.
With the median home price in SOUTH MACKAY sitting at $213,000, and the average rent at $250, property owners could potentially earn a 6.1% increase in gross rental yield.
A 17.36% increase in median property prices in SOUTH MACKAY, 4740 has allowed this suburb to join the ranks of best performing suburbs in QLD, settling at number 24th.
Figures from the previous quarter show that capital gains for real estate buyers in SOUTH MACKAY are high, as opposed to average gains per annum over the past five years.
SOUTH MACKAY, 4740 in QLD belongs to the local government area of Mackay.