I P S W I C H • PA R K W O O D • P I M PA M A
MACKAY OUTLOOK
APRIL 2020
Mackay is home to a diverse and vibrant community with rural and coastal living opportunities.
The Mackay Regional Local Government Area is one of the fastest growing in Queensland, with a population of 180,000.
The area is known for its white sandy beaches and crystal-clear ocean waters – a premier tourist destination for Australians and international visitors alike.
Growth is fueled by a resurgence in mining, agribusiness and growth in construction, logistics and tourism.
Just over an hour’s flight from Brisbane, the Mackay region’s expanding employment, investment and development opportunities, buoyant economy and lifestyle attributes are a few of the positive aspects that encourage people to live, work and play in the region.
The Mackay region is also the gateway to the rich coal mining resources further to the west and is one of the largest sugar-producing regions in Australia.
LOCATION: Only just over an hour’s flight
NEW RESOURCE TRAINING CENTRE: Plans
PROPERTY PRICE GROWTH: The median
north-south Bruce Highway, connecting
$3.6 million Resources Centre of Excellence.
Median property prices over the last year
from Brisbane and positioned along the Brisbane to Cairns.
RAPID DEVELOPMENT: Numerous new
developments are under review or have
were finalised for construction to start on a
A simulated underground coal mine providing close to real conditions for industry training and research purposes.
been approved as part of the revitalisation of
THE MACKAY WATERFRONT PDA: The PDA
road infrastructure upgrades, Sugar Bowl
within the Mackay city centre, creating social,
Mackay including the Mackay Waterfront PDA, Mackay and Galilee Basin projects.
GROSS REGIONAL PRODUCT $8.623 BILLION
The Mackay region has a gross regional product (GRP) of $8.623 billion, which is spread across a diverse economic
base featuring manufacturing, mining, construction, real estate, logistics and tourism.
has revitalised the land and infrastructure liveability and economic benefits for the whole community.
EMPLOYMENT
47,975 WORKERS Key employment sectors in the region: •
5948 - Health care and social
•
5454 - Retail trade
•
4038 - Education and training
•
3988 - Construction
•
3542 - Manufacturing
assistance
house price in Mackay (suburb) is $300,000. range from $270,000 for houses to $210,000 for units. If you are looking for an investment
property, consider houses in Mackay rent out for $350 PW with an annual rental yield of
6.7% and units rent for $280 PW with a rental yield of 6.9%. Based on five years of sales,
Mackay has seen a compound growth rate of -6.6% for houses and -8.8% for units.
TOTAL ECONOMIC OUTPUT $16.477 BILLION •
$5.1 billion mining and manufacturing
•
Tourism outputs of are reported to
•
One-third of the region’s economic
sectors supporting 6165 jobs.
exceed $527 million and 3016 jobs. output is produced by mining and manufacturing sectors.
•
Mackay is also a world leader in
resource technology and innovation. property prices over the last year
The residential market in Mackay has turned a corner, ranking as one of the top 10 growth areas in Australia, having risen 5.1% in the year to December 2019.
The Queensland Government has green lit $1 billion Olive Downs coal project in the Bowen Basin. The project is expected to create 1,000 operational jobs and 500 during construction, contributing an estimated $8 billion to the local economy.
Under the Facilitating Development in the Mackay Region Policy the delivery of significant capital investment and employment has occurred, particularly in the areas of industrial, health, aged care and retirement living, tourism, bio-futures, community facilities and the Mackay Waterfront PDA.
ECONOMIC OUTLOOK:
MACKAY WATERFRONT PRIORITY DEVELOPMENT AREA
Mackay - Isaac - Whitsunday (SA4)'s Gross Regional Product (GRP) is estimated at $22.281 billion. This represents 1.2% of Australia's Gross Domestic Product (GDP) of $1.848 trillion, and 6.4% of Queensland's Gross State Product (GSP) of $348.969 billion. Of the total $22.281 billion Gross Regional Product (GRP) $8.623 billion is contributed by Mackay or 38.7%. (Remplan 2020) The city’s key industries include mining services, education, health, aviation, tourism and agriculture.
The Mackay Waterfront PDA became effective in May 2018 and covers approximate 172 hectares of centrally located land within the Mackay urban area.
The PDA establishes an overarching planning framework that will support the future development and community outcomes in Mackay.
These include the redevelopment of public spaces along the Pioneer River and Binnington Esplanade waterfronts,
establishing a precinct for innovation and knowledge based industries, promoting the city centre as a key business hub, and providing exciting and activated streets, places and
attractions that improve the city’s liveability, tourism appeal, and investment attraction.
A historic Mackay CBD building is the first projected slated
When complete, the revitalised building will house a number of high-quality tenants, with a modern fit out while maintaining the historic façade. Also, on the development front, the Queensland Government has committed $8.8 million towards the revitalisation of Queens Park. The park provides a diverse urban parkland, linking the city centre and coastline. Some of the key features and facilities included in the revitalisation project include renovating the existing cricket change rooms, addition of new public toilets, improved car parking facilities, pedestrian and bikeway connectivity, improved lighting and a dog park. A $2.2 million state-of-the-art skate park featuring a three metre competition bowl, intermediate bowl and a street run almost 80m long opened at the end of 2018. The North Mackay development is bringing more people to the area and provides entertainment options for youth in the community. The project has now progressed into the broader $1.5 million Camilleri Street District Park Masterplan, which includes the skate park, a pump track, youth hub, basketball court, hit-up wall, new public amenities, boardwalk and footpath connectivity, additional shelters, BBQ, picnic tables and bench seats and a dog park.
The iconic 19th century Sydney Street building is just one
The project is set to double the size of the popular Blacks Beach park, making it the biggest and most diverse park in the Northern Beaches.
create lifestyle and economic benefits for the community.
The project is funded by the Mackay Regional Council and Queensland Government.
for development as part of the broader PDA.
heritage landmark that will be preserved and re-purposed to
RAPID DEVELOPMENT Mackay currently has several development and infrastructure projects proposed, approved and underway.
The region is also set to become an international exporter of
A report commissioned by the Greater Whitsunday Council
Services export hub is currently in development after
Mining Equipment Technical Services (METS) collaborations, innovations, consultation and manufacturing. The Mackay-Isaac-Whitsunday Mining Equipment Technical
of Mayors has found that several proposed mining and gas projects in the Galilee Basin could generate a total of $3.9 billion for the region over the next 11 years.
Hancock Galilee's Kevin's Corner Project and the MacMines Austasia China Stone coal mine.
The modelling also relied on the creation of a gas pipeline projects.
On the agricultural front, the Federal Government has
committed $10 million to kick start the Urannah Water
Scheme, which will provide a large-scale dam, irrigation precinct and renewable energy through hydro power. The scheme would offer water security to the region’s agriculture industry while creating diversity in energy generation.
It is set to unlock the potential of 20,000 hectares of agricultural land and could create up to 1,000 jobs.
establish a small and medium enterprises export hub. The Local Buying Foundation and State Government
The three mines include Adani’s Carmichael coal mine,
connecting the Albany, Gunn, Glenaras and Blue Energy
securing a $353,000 grant from the Federal Government to
matched the funding, which totalled an investment of $706,840 for a two-stage project over the next three years. This funding will bring more investment and businesses to the region, complementing the current services. It is slated to not only increase opportunities for export but create jobs into the future for the region. Locally, the Federal Government has also pledged to contribute $6.5 million towards the delivery of the Northern Beaches Community Hub. Mackay Mayor Greg Williamson has welcomed the pledge for half the $15 million project, which will create a ‘high street’ within the Northern Beaches that will centralise services, creating a more liveable lifestyle in the region’s fastest growing area.
INFRASTRUCTURE AND DEVELOPMENT AT A GLANCE: • $24 million Mackay ARC (Aquatic and Recreation Complex) • Mackay Waterfront Priority Development Area with $9 million revitalisation works under way at Queens Park • $2.2 million Sugar Bowl skate park • $1.5 million Camilleri Street District Park Masterplan • $3.9 billion in mining projects • $3.6 million Resources Centre of Excellence • $10 million Urannah Water Scheme • $706,840 Mackay-Isaac-Whitsunday Mining Equipment Technical Services export hub • $6.5 million Northern Beaches Community Hub • Qantas Pilot Training Academy for secured for Mackay
RESIDENTIAL MARKET INSIGHTS Mackay is rebuilding its image in a brand new way with a focus on facilitating and supporting development for the growth, progression and increased liveability of the region. The city is seeking to build sustainable economic growth that will generate employment, diversify the economy and value-add to existing businesses and industry. According to demographer Bernard Salt, the Queensland Government has predicted the Mackay region’s population will hit 198,000 by 2030, with the forecast showing confidence in the region. The Mackay region also enjoyed a 4% boost in small business in 2019, three times the national growth average. Through targeted development including the Mackay Waterfront PDA, major industry development, aged care and retirement living, and tourism, Mackay’s residential market has improved significantly. According to Hotspotting’s Terry Ryder, the number of growth markets in regional Queensland is rising – helped by recovery in resources-related regional centres - with Mackay now the most upwardly-mobile market. The city has rising demand coupled with much lower vacancy rates, with numerous suburbs showing good price growth.
• In Mackay, the average household size is 2.4 persons. • The market is characterised by a lower property entry price than the southern capital cities, the substantial pipeline of development and the rising levels of employment in the region.
HOUSING SUBURB PROFILES: SNAPSHOT OF MACKAY MEDIAN PRICE
M A C K AY BLACKS BEACH
$286,500 $325,000 $406,000
SHOAL POINT
W E E K LY M E D I A N A D V E R T I S E D R E N T
$350
M A C K AY
$370
BLACKS BEACH
$460
SHOAL POINT
G R O S S R E N TA L Y I E L D
6.55%
M A C K AY
6.09%
BLACKS BEACH SHOAL POINT
6.01%
NEW CENTRE TO DRIVE MINING JOBS TRAINING AND RESEARCH
INTERNATIONAL RETAIL INVESTMENT
Plans were finalised for construction to start on a Resources Centre of Excellence. A simulated underground coal mine providing close to real conditions for industry training and research purposes will be one of the key features of the $3.6 million centre funded by the Queensland Government. The new start-of-the-art facility will be a valuable resource for the sector. The centre will be delivered by council in partnership with the Resource Industry Network, with operational involvement from tertiary education providers.i
Skechers, a global leader in the retail industry opened a new store in the Mackay CBD in 2019. The $4.64 billion American lifestyle and performance footwear company, and third largest athletic footwear brand in the United States, brings a level of sporting prestige to Caneland Central shopping centre, right in the heart of Mackay. Caneland Central is the premier shopping and lifestyle destination in the Mackay region and offers a wide variety of stores and services with over 200 retailers including Myer, Target, Big W, Harris Scarfe, Woolworths, Coles, JB Hi Fi and Best & Less.