Renting In Mackay An Aerial View Of New Apartment Buildings With Swimming Pools On The Coast

Renting in Mackay (Residential & Commercial): What You Need to Know

Not many coastal cities in Queensland combine the best facilities with a picturesque setting as Mackay does. Heavenly beaches, lush rainforests, great weather — Mackay is a great place to rent or buy a property.

Plus, with a range of major infrastructure investments planned for the region, the property market is all set to receive a boost. Anyone looking to move to a vibrant city with a strong sense of community will find Mackay to be a great choice.

No wonder the rental market in Mackay is on an overdrive and the demands are on the higher side.

If you can’t afford to buy a property in one of the best places to live in Mackay, renting is your only option. So here’s a quick guide to help you navigate the property market of the city.

What to Consider When Renting in Mackay

Let’s start with the bad news.

The current vacancy rate in Mackay is 0.64%, which is on the lower side. While the need for rental properties is rising sharply, not much investment is going into developing new properties. This can make it difficult for you to find affordable rental rates.

Antonia Mercorella, CEO of the Real Estate Institute of Queensland, says that the rental market in Mackay, as in the rest of Queensland, is in a tight state. “Queensland is still worlds away from a healthy rental market and a grossly insufficient level of housing supply is squarely to blame,” she told the local Star Mackay and the Whitsundays radio.

How does that impact renters?

This scenario makes deciding your budget an important step for renting a home in Mackay. The budget will, of course, vary depending on the type of property you choose. Keep in mind that beyond the rent, there will be expenses like utilities, insurance, and maintenance fees.

Depending on what suits your needs, you can pick a house, an apartment, or a condo. Some properties come with features like a pool, a garage, or a spacious backyard. Your priorities will depend on your lifestyle. 

Then again, if you are moving with the family, you may prefer a property near a school or a park. Make sure to do the necessary research to pick an area that is close to the amenities. The type of neighbourhood you prefer will also impact your decision.

For affordable rates, pick a lesser-known suburb that offers the same facilities at a lower price. Since Mackay has 36 suburbs, you have plenty of options to pick from. If possible, do a drive-by to get a first-hand feel of the area. Do not depend on virtual tours or social media images to make a decision.

At the same time, if you find the right property, act fast and submit an early application. The market is competitive, and chances are that the good properties will be quickly taken.

Renting a Home In Mackay

A Sea View Of The Harbour In Mackay Queensland

Time for the good news!

The median weekly rent in Mackay varies, based on whether you pick a freestanding house, a townhouse, or a unit. Note that the rents are lower than the national average. This is another reason that makes Mackay an attractive choice for renters.

As of this writing, the medium weekly rent for a house is $520 and for townhouses, it is $450. For smaller units, the average weekly rent in Mackay is $400. For a large home, the rent can be around $1,000 per week. Expect the median rent change per year to be between 8 to 12%.

If you are looking for affordable rates, some of the best suburbs to rent in Mackay are North Mackay and Andergrove.

Renting a Commercial Property in Mackay

Just like residential properties, the demand for commercial property assets is high in Mackay as well. The vacancy rates in the industrial sector, as well as the retail sector, are less than 1 per cent and rental yields are on the higher side. The rents vary depending on the size of the property and its location.

Bearing this in mind, it’s not surprising that renting a professional office space in Mackay isn’t cheap and you need to do the right research before picking one. Depending on the type of your business, you will have to enter a retail lease or an office lease. 

Beyond the actual rent, you may need to pay other charges like lease registration fees and mortgagee consent fees as well. We suggest that you do the necessary research and seek guidance from a legal professional before you enter a commercial lease agreement.

Final Thoughts

The growth in the local economy in Mackay has been attracting residents from larger cities making the rental market highly competitive. Since the trend will likely continue, you must thoroughly research the market to find cheap rent in Mackay. 

Before you rent a property, make sure to learn about your rights and responsibilities as a renter. While renting a property in Mackay is challenging, you can make the process smoother by being a responsible tenant and having a good tenancy history.

Renting in Mackay: FAQs

Is it hard to rent in Mackay?

The high demand and low vacancy rates make renting a property challenging in Mackay. However, the right knowledge and preparation can make the process easier for you.

Is Mackay a good place to live?

Mackay is a great place to enjoy a tropical lifestyle, without sacrificing the comfort and facilities that you need.

Is Mackay family-friendly?

Mackay has a family-friendly environment and there are plenty of fun activities that you can enjoy with the family.

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