While the sugarcane fields surrounding Mackay symbolise resilience and prosperity, the 2024 property market showed that the region's real estate is just as robust and sought after, firmly placing Mackay at the forefront of Regional Queensland’s property boom.
In 2024, Regional Queensland's property market experienced notable growth, with property values increasing by 12.1 per cent over the year. This trend was particularly evident in key regional hubs. According to The Australian Financial Review, Rockhampton led with a 9.2 per cent quarterly growth in values, followed by Townsville (8.34 per cent), Gladstone (6.74 per cent), and Mackay (6.19 per cent).
Closer to home, Mackay’s property market saw a surge in buyer demand, particularly from families and investors seeking lifestyle properties. Buyers’ agents have become a prominent feature in the local market, with agents reporting an increase in interstate interest, particularly from southern states. This demand has significantly shortened listing times for homes, with properties in popular suburbs such as Rural View, Ooralea, and Mount Pleasant often being snapped up in under two weeks.
Selling prices in Mackay have risen considerably, with Real Estate Investar data showing that current figures are significantly higher compared to pre-COVID levels. In 2019, the average house price in Mackay was around $350,000. Today, it has climbed to nearly $450,000, representing a growth of nearly 30 per cent over four years.
The most sought-after dwellings include modern family homes with open-plan living spaces, those with pools, and properties on larger blocks that cater to families looking for room to grow. Suburbs such as Andergrove and Glenella have also gained popularity due to their proximity to schools and amenities, while coastal areas like Bucasia and Shoal Point appeal to buyers chasing a sea change.
Several factors have driven the broader demand for property in Regional Queensland. The Australian reported that interstate migration from pricier markets, combined with the appeal of a more affordable and relaxed lifestyle, has played a key role. Moreover, the expansion of business operations into regional areas has further bolstered buyer interest.
However, not all parts of Queensland have mirrored this success. The Courier Mail noted a 20.7 per cent drop in building approvals on the Gold Coast, reflecting challenges in the construction sector despite a broader statewide recovery. This decline is concerning, especially given the ongoing housing shortage in that area.
Overall, 2024 has been a standout year for Mackay’s property market. With high demand, rising prices, and a lifestyle that appeals to families and professionals alike, Mackay continues to shine as a cornerstone of Regional Queensland’s real estate success story.
Aerial photo of Andergrove, Mackay
Newly renovated, suburban subtropical bungalow
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