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South-East Queensland Property Visit

Friday, April 12, 2013

I have returned from my trip and was extremely impressed with Mackay and it was my pick of the towns I visited (Mackay, Gladstone, Brisbane, Townsville & Toowoomba). 

 

It is just pristine.  The majority of the town is new.  New houses, new streets, new roads, new amenities, new businesses.  Every car that drove down the street was new – BMW’s, 4 wheel drives, etc.  There is significant money there. Great growth prospects.  Major export hub.  I can send you all the economic statistics about predicted growth, etc, but more importantly what I saw told the same story.

 

I spent the day in Mackay with a local builder.  He drove us to every new development and gave me a full run down on every aspect of each estate and suburb.  Funnily enough the Mackay locals are even more ‘north v south’ biased than Canberrans.  And this was clearly evident as you crossed from one side to the other.  The North is definitely the ‘better side’.  It goes even further, locals don’t want to drive any more than 10 minutes to the CBD, so anything further out than that is ‘not good’.  There are areas of Mackay that are definitely ‘investor glutted’ and you can clearly see this from driving down the streets.  There are mainly rental properties, multiple cars parked in the drive, untidy front yards, etc.  Then there are other areas that are mainly owner occupied, nice wide streets, clean front yards, BMW’s in driveways, young kids on scooters and families playing in the park.  Why is this important?

 

Resale- the locals simply won’t buy in the investor glutted areas.  So best potential re-sale is in the areas that local want to live. 

 

So what do you look for in Mackay - A mainly owner occupied area, on the northside, and only 10 minutes from town.

 

My next picks were Townsville and Brisbane.  I will report more on these areas next week.

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