Macleay Island is leading the property market boom on the Redlands Coast
In a time of fiscal uncertainty with interest rates hovering around one per cent and still dropping, property investors in the know are leading the charge for record rental returns on Macleay Island with rates on investment rentals of seven per cent and upwards.
Local LJ Hooker real estate agent Brian Durrant explained, “Waterfront homes are really taking off with several of our properties selling up to $1million. Whilst the average price on a Macleay Island waterfront home would be around the $600k mark, general property prices here are still affordable, with houses starting from as low as $150k and land from $20k.”
With over 30 years of experience in real estate across South East Queensland, Brian is highly optimistic about the future for Macleay Island.
“Macleay Island is a wonderful place to live and work and the market here is starting to move in the right direction. With such strong demand now, there are very few water-front blocks currently available. Until recently buyers would buy land purely as an investment. We are now finding across the board that they are buying house and land packages. There are an estimated 70 homes now under construction here on Macleay. This the very best time to be buying here, as we see prices steadily rising throughout the Island.” Said Brian.