Mackay earning and spending more

Mackay has received its latest property report card which reads well for investors looking to buy into an established market. 

The report compiled by PRD Nationwide shows that for the 10^th consecutive year, overall sales in the Mackay area have increased.

Statistics also prove Mackay is becoming wealthier. Data compiled by the Australian Tax Office released last month showed that in 2010-11, Mackay’s total taxable income was $2.849 billion, the highest amount for any post code in the state. *

Reed Property Group’s Jason Kollanyi said the salaries of Mackay workers have been rising on the back of the resources boom and investors have been snapping up bricks and mortar to capitalise on the rising income of local renters.

“All indicators show the region has good capital growth which is why we have seen strong enquiries for Mackay apartments from investors across Australia,” Mr Kollanyi said.

“A lot of money is being poured into infrastructure, the population is growing and earning more and there’s a limited housing supply.  It ticks all the boxes for a good investment.”

PRD Nationwide’s quarterly report states that for the last two years, median rents for the Mackay local government area have risen across all dwelling types.

Mr Kollanyi said this was in line with the predicted returns for investors buying at Rivermarque Apartments, a new development situated in the heart of Mackay’s CBD.  

“We are so confident in Mackay’s need for new apartments we will guarantee returns of 7% for 5 years for our dual key buyers . Oaks Hotels and Resorts are actually forecasting yields of up to 9% net per annum,” Mr Kollanyi said.

Studios start from $271,000 and the remaining one-bedroom apartments are priced from $304,500, with the two bedrooms from $413,500. Construction is due for completion in mid-2014.

For more information on Rivermarque, visit www. rivermarquemackay.com.au.

Ends.

*24.04.2013,  Australian Taxation Office, Taxation statistics 2010-11, Individuals Tax, Table 6: Selected items by state/territory and postcode, 2010-11 income year, http://www.ato.gov.au/corporate/content.aspx?menuid=49810&doc=/content/00345977.htm&page=8#P175_7617

**Research Analyst Matt Ballam, PRD Nationwide, Mackay Area Property Watch, First Quarter 2013,

http://www.prdnationwidemackay.ca.com.au/weblinks/MackayAreaPropertyWatch2013Q1.pdf

Contact details

Media contact: Maya Gurry – Fresh PR & Marketing           

P: 0410 109 102       E: maya@freshprm.com.au