Mackay's real estate market is heating up with increased population and skyrocketing rental prices pushing sales high, according to the latest research by PRDnationwide.

The Mackay Region report found that the market continued to track upwards, as demand outstripped supply.

PRDnationwide research analyst Robert Matta said the Mackay property market had demonstrated exceptional growth in sales volumes during the April 2012 half year period, with strong sales performances recorded for the house, unit and in particular the vacant land market.

"The recent spate of transactions in the region can be attributed to strong population growth and an increasingly unaffordable rental market," he said.

"Unprecedented rental price escalations over the year to June 2012 have coerced many would-be buyers to enter the market, either as owner-occupiers looking to escape excessive rents or as investors looking to capitalise on highly attractive rental yields."

The research showed a total of 1139 houses sold during the six months to April 2012, a 35.1 per cent hike compared to the same period 12 months earlier.

The median house price recorded for the region was $430,000 - a modest 3.6 per cent lift.

"The median house price has been remarkably buoyant since the Global Financial Crisis unfolded in 2008, bucking the nation's trend to record positive average annual growth at 2.4 per cent over the past five years. A combination of sustained demand and a shortage of housing have resulted in continued price escalations," said Mr Matta.

Unit sales were up 34.9 per cent and the volume of land sales more than doubled.

"A majority of recent transactions originate from newer housing estates north of Mackay CBD, with Beaconsfield, Rural View and Blacks Beach being the top performing suburbs for the April 2012 period, accounting for a substantial 38 per cent of total transactions for the region," Mr Matta said.

Greg Chappell, PRDnationwide Mackay principal said the market was strong.

"The market is strong and steady with smart buyers recognizing that the future interest rate lowering will make it better buying now and therefore they are moving on the decision making."

"For the sellers this is the perfect time to list and market their property for sale as there are more buyers around with the weather warming up and people looking to move prior to any wet season."

Comparisons made between ABS 2006 and 2011 census data reveals an impressive 5.8 per cent average annual growth in population over the five year census period, making Mackay one of the fastest growing regions in Queensland.

"This level of growth (spurred by activity in the resource sector and local industry) is placing considerable stress on the existing property market to accommodate a growing resident population as evidenced by a tightening in rental vacancy," he explained.

Media contact:
Kate  Boddington
P: +61 418 754 281
E: media@prd.com.au