Delving into Mackay’s investment property market
There have been numerous indications that Queensland's property market remains a solid investment for those looking to enjoy substantial returns – and Mackay is quickly establishing itself as a lucrative hotspot.
Located on the state's eastern coast, the city is coming into its own and there are an abundance of reasons why shrewd investors are setting their sights on what is nicknamed the 'sugar capital of Queensland'.
Here are some of the primary benefits of adding property in Mackay to any investment portfolio.
Mackay certainly isn't the only Queensland location to take advantage of Australia's extensive natural resources – but it does act as the gateway to the Bowen Basin coal reserves.
This is the biggest single coal reserve in Australia, with recent figures showing that 250 jobs advertised by BHP Billiton Mitsubishi Alliance received a staggering 8,000 applications.
Fly-in fly-out positions are common within the mining industry, and they provide an excellent market for those looking to rent out investment properties over the short to medium term.
Mackay's strategic location close to mines, major highways and coal terminals ensures that the city looks set to withstand any turbulence in the resources sector.
Mackay doesn't have the biggest tourism industry in the region, but the city is showing signs of growth in this area and its proximity to some of the state's most notable attractions is undeniable.
The Great Barrier Reef, Eugene National Park and the Whitsunday Islands are all within a short journey of Mackay, making it an excellent starting place or quick stopover for holidaymakers exploring the eastern coast.
And it appears domestic travellers are well aware of the city's charms, with 85 per cent of tourists spending the night in Mackay hailing from Australia.
Figures from Tourism Research Australia also show that $516 million was spent by visitors to Mackay in 2009-10, roughly two-thirds of which was from domestic overnight stays.
Again, while the marine industry in Mackay cannot be described as huge – it continues to show potential, making it an interesting proposition for forward-thinking investors.
Sitting around halfway between Cairns and Brisbane, the city is also situated in a favourable location to the Whitsundays and other local islands and inlets.
Growth is clearly on the agenda for Mackay's marine industry; there are intentions to construct and expand marinas, boost maintenance and repair services for marine craft, develop export markets, and offer more tourism opportunities.
Taking the plunge
These are just a few of the reasons why Mackay is emerging as a profitable investment location in Queensland.
Other expanding industries include construction, education, engineering and manufacturing, and information and communications technology.
Recent Real Estate Institute of Queensland statistics reveal the city is experiencing noticeable rises in median property values – so investors may want to consider their options before opportunities pass them by.