2/28 Canberra Street, North Mackay QLD 4740
2/28 Canberra Street, North Mackay QLD 4740
Compact strata unit | North Mackay infill pocket | Low-maintenance entry | Flood overlay context | Investor-leaning demand
This property sits in a mature, well-located suburb where older Queenslander homes and modest apartment blocks share the street. Its likely configuration as a small strata unit makes it a rare low-maintenance entry point into an area dominated by detached housing on substantial blocks. For a first-home buyer or investor, the appeal is straightforward: proximity to the CBD, schools, and parkland, combined with minimal upkeep and a price point well below the street’s larger homes. The unit segment here serves a practical niche, offering rental demand without the land cost.
Value may hinge on the unit’s internal condition, floor level, and whether the building has been maintained to a modern standard. A flood overlay in the immediate corridor could weigh on buyer confidence and insurance premiums, though it may already be reflected in pricing. The compact footprint limits owner-occupier appeal for families, but strengthens its case as a rental property. The balance between dated presentation and recent upgrades will likely set the final price range.
|| Comparable Sales: 2/34 Canberra Street sold $170k in 2023; 3/22 Canberra Street sold 2022 at $118m² block | Property Price Band: $170k–$270k | Value Drivers: internal condition, floor level, building maintenance, flood overlay perception
Detailed Independent Property Report prepared by PropCred Analyst team for 2/28 Canberra Street, North Mackay QLD 4740
Checks found:
Value Risk
2
Liquidity Risk
Planning Risk
Income Risk
Execution Risk
2
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Market Insight
North Mackay sits within the broader Mackay region, where a 1.43% vacancy rate and a widely cited housing shortage underpin conditions. Renters make up 27% of residents, and rental demand is firm: house rents rose 17% and unit rents 5.6% over the past year. Turnover is rapid, with houses selling in 12–34 days. Median house prices range from $554,000 to $565,000, with annual growth of 18.8–33.9%; units average $360,000, with growth of 22–49.4%, though sales volumes are thin. Gross yields are solid, with houses at 4.6–5.8% and units at 5.44–6.33%. Demand is driven by proximity to the Mackay Waterfront project and the $250 million Base Hospital expansion, which attract workers and lift population. The key constraints are affordability pressures and interest-rate sensitivity, while the regional housing shortage is likely to keep price growth elevated.
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PropCred Estimated Value
Comparable Sales: 2/34 Canberra Street sold $170k in 2023; 3/22 Canberra Street sold 2022 at $118m² block | Property Price Band: $170k–$270k | Value Drivers: internal condition, floor level, building maintenance, flood overlay perception
Bedrooms
2
Bathroom
1
Parking
1
Land
71m²
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