Mackay vacancy rates fall to 0.5% amidst ongoing rental crisis

Mackay has cemented itself as one of the hardest places to find a rental in the nation, new data has revealed. Find out more.

Units like the one at 901/5-7 Nelson Street, Mackay are worth their weight in gold to renters, coming fully furnished, in great locations and equipped with facilities like swimming pools and gyms.

New data has underscored the rental crisis in Mackay, revealing the region is home to two of the hardest postcodes to find a rental in the nation.

Only one was advertised in December in Marian and Devereux Creek despite having 154 private rentals, MCG Quantity Surveyors found.

Just three were advertised in Greenmount, Palmyra, Victoria Plains and Walkerston, which has a total 200 private rentals when combined.

MCG Quantity Surveyors director Mike Mortlock said their analysis of th revealed regional Queensland is facing tough times.

He said it extended further than regional Queensland and painted a stark picture for the Australian rental market.

Mackay rental vacancy rates have dropped to 0.53 per cent, almost half that of Brisbane’s. Picture: Zizi Averill

In 2023 Mackay’s rental vacancy rate was 0.53 per cent, half of the statewide vacancy rate of one per cent.

Real estate agency Mackay City Property attributes the low vacancy rate to a limited supply of houses and the high demand for rental properties.

They stated in their July, 2023 report that despite facing a significant shortage of housing availability, rental prices in Mackay were still below the national average.

According to the report, the average weekly rent for a home in Mackay is about $500, while the average rent for a unit is about $500.

As of 2023, there were almost 700 applicants for social housing on a waitlist in the Mackay area and just over 25,000 statewide.

Here the cheapest rentals available in Mackay’s central suburbs

32 Hart street South Mackay QLD 4740 $290 weekly

32 HART STREET SOUTH MACKAY QLD 4740. Two bedrooms, one bathroom. $290 p/wk

4/32 Marsh Street East Mackay QLD 4740 $300 weekly

4/32 Marsh Street East Mackay QLD 4740. One bedroom, one bathroom.

1/157 Nebo Road West Mackay QLD 4740 $320 weekly

1/157 Nebo Road West Mackay QLD 4740. One bedroom one bathroom flat.

6 Byron Street Mackay QLD 4740 $355 weekly

6 Byron Street Mackay QLD 4740 unit two bedroom one bathroom.

Originally published as Mackay vacancy rates fall to 0.5% amidst ongoing rental crisis