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 $297,500
The augmented property values in the suburb are trailing above the territorial average of 2.57% in 2016.
On the other hand, based on current median home prices for the suburb, Real estate investors could earn a rental income of $320.
Home owners selling their properties and realtors in WEST MACKAY usually have to wait an average of 78.3 days days before their assets are lifted off the market.
The QLD suburb ranks 121st on the list of best yielding suburbs for rental properties in QLD, posting a 5.59% return.
It also places places 334th in Australia based on median property value growth during the quarter.
Property investors enjoyed capital gains of 27.2% over the last 12 months in WEST 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 WEST MACKAY, 4740 obtained a 3.31% growth over a ten-year period. It ranks 968th on our list of suburbs that property investors should look into.
WEST MACKAY, 4740 has a capital gain of 27.2% for the past year, which is higher than average compared to its -19.07% growth within a five-year period.
With the median home price in WEST MACKAY sitting at $252,500, and the average rent at $270, property owners could potentially earn a 5.56% increase in gross rental yield.
A 27.2% increase in median property prices in WEST MACKAY, 4740 has allowed this suburb to join the ranks of best performing suburbs in QLD, settling at number 10th.
WEST MACKAY, 4740 in QLD belongs to the local government area of Mackay.