Mackay sees increase in new construction of prestige dwellings: HTW residential

Mackay sees increase in new construction of prestige dwellings: HTW residential
Mackay sees increase in new construction of prestige dwellings: HTW residential

Mackay has been in recovery mode for the 12 months, with improved market confidence across the residential sector, according to the latest Herron Todd White (HTW) residential report. 

The report notes values bottomed out and have now started to improve slightly.

"On the prestige front, we have seen a variety of properties sell, with the majority of sales around $1.2 million give or take $50,000," the valuation firm said. 

"For this amount, you can get good quality rural residential properties comprising large executive style dwelling and associated ancillary improvements."

Examples provided by the HTW report include 241 Kochs Road, Farleigh (pictured above) for $1.24 million and 185 Ian Reddacliffe Drive (pictured below) for $1.2 million.

Mackay sees increase in new construction of prestige dwellings: HTW residential

"In town, we have also seen some good quality residential sales. These include the sale of 11 Joseph Court for $1.05 million," the valuation firm said. 

It comprises a large, two-storey architecturally designed dwelling representing the highest sale in a standard residential estate.

The jewel in the crown however belongs to the sale of 30 Beach Road, Dolphin Heads (pictured below) for $1.73 million.

Mackay sees increase in new construction of prestige dwellings: HTW residential

This property comprises a large architecturally designed dwelling on absolute beach front at Dolphin Heads and represents the highest sale recorded in Mackay in the past 12 months.

Local agents report good interest in prestige property, however a lack of high quality stock is currently holding the market back.

"One way we have seen around this is the increase in new construction of prestige dwellings.

"A number of large architectural dwellings are currently being built or planned for construction right across the Mackay region." 

Tags: 
Prestige Market Mackay

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