First-home buyer activity boosts Queensland's Mackay market

Real estate agents in Queensland's Mackay are fielding increased sales enquiries driven by local first-home buyers, according to the latest quarterly report from the Real Estate Institute of Queensland (REIQ), indicating confidence in the economy and property market.

Local property projects like Somerset Park, off Bedford Road in Andergrove, are reporting increased enquiries.

Developed by Trinity Property Consultants, Somerset Park will have 250 homes, duplexes and townhouses built across four stages over the next two to three years. 

“Somerset Park homes are available from $379,000, a highly affordable entry price for first home buyers,” said TOTAL Property Group managing director and Somerset Park marketing manager Adrian Parsons.

It is six kilometres from the CBD, and is surrounded by shops, day-care centres, schools, health care services etc.

The trend in house sales over the past 12 months indicates that the city was rising from the bottom of the property cycle, said Peter McFarlane, REIQ zone chairman for Mackay district.

“More first home buyers are taking advantage of the low interest rates and the affordable property prices to realise their dream of owning their own home,” he said.

Somerset Park developer Jim Relph of Trinity Property Group said Mackay has a robust local economy, making Mackay an ideal city for first home buyers to live and invest in.

Buyers can choose from architecturally designed luxury three, four and five bedroom homes, some with lake views.