Whether it’s a sea change or a tree change, there is a movement away from the big cities to regional areas and Mackay is one of the beneficiaries.
Recent figures show that populations across regional Australia grew by 70,900 or 0.9 per cent in the 2020-2021 financial year and the population figure fell by 26,000 or 0.1 per cent in capital cities.
Covid-induced border closures are now well and truly behind us and there is a feeling that this trend will only increase.
High-profile real estate identity John McGrath’s latest McGrath Report, quoted in The Australian newspaper, said big city escapees look for a cheaper destination, not something that is as expensive as where they are leaving, when choosing their sea or tree change.
McGrath pointed out that a sea change to Noosa Heads does not look so enticing when the median price is $2 million compared to regional Queensland’s $569,000 median price.
One of the reasons people make the change is to reduce debt and financial stress. Yes, people want good weather, access to beaches or other forms of natural beauty, reliable services and medical facilities but cost is a big part of it.
McGrath has noticed how those factors have led to an increase in property sales and price rises in our part of the world.
“Central Queensland, where many city dwellers from the southern states have moved, recorded the largest uptick in sales volumes of houses of 42.9 per cent in the year to February 2022,” the McGrath Report said.
It also pointed out that sales volumes in the Greater Whitsundays, which also includes Mackay, were up nearly 41 per cent.
The on-the-ground evidence at open homes and buyer inquiries absolutely confirms that Mackay is very much on the list of those wanting to make the change.
Our average house price is in the low $400,000s, there is virtually no unemployment, we have beautiful beaches and rivers, lovely hinterland bushland, easy access to Whitsunday Islands, good health and educational facilities and we’re a short flight to Brisbane.
One change that has been created by technology improvements and spurred on by Covid is the trend to work from home.
There are now people who work in the digital world who pretty much work from home all the time.
The organisation you work for might be based in Sydney but in many cases you can work from home in Manly, the Gold Coast or Mackay.
Whichever way you look at it there are positive signs for real estate in Mackay.
