Suburb in the Spotlight – Dysart QLD, 4745

Australian Property Investing - Suburb report

Dysart is a relatively young town approximately three hours drive (inland) from Mackay on Queensland’s central coast. Due to being young, it has many modern facilities such as an Olympic-sized pool, shopping mall, golf course and bowls club.
Dysart was built specifically to house nearby mining operations and has hence boomed in recent years.
Over 90% of Dysart’s dwellings are houses, with approximately 75% of these being rented.

Median house price

The median house price in Dysart is $414,000.
Last year saw a very low growth in house prices however this year, house prices have started to lift again.

Rental yields

Dysart often appears in “best yields in Australia” lists because of its high 8.67% rental yield average.

Population

Different sources list Dysart’s population as between 4000 and 5000.
Information from the Broadside Shire Council indicates that Dysart’s population is sensitive to change, especially with changes in the mining industry. In 1997, the population decreased significantly (to 2500) but it has steadily grown since.

Vacancy rates

Vacancy rates are low, at 1.6%, and falling (from approximately 3.5% last year).

Location, Location, Location

We spoke with Vision Real Estate (their information can be found below) who stressed to us that Dysart is not a large town and that most streets had housing available for rent. Most renters are miners. The most desirable street in Dysart is Long Crescent, although most properties are owned by BMA (the major mining company) and it’s unlikely that many properties from Long Crescent will be for sale in the near future.
Regardless of this, most rental properties have extremely high rents – so much so that many people can no longer afford to live in Dysart.
Plans and prospects (infrastructure, future infrastructure, services)

BMA are reportedly building approximately 90 new houses in the Dysart area. Apart from this there are rumours of potential new small businesses but nothing major.

Verdict

Although the figures for Dysart are currently great, the population is very sensitive to the success of the mining industry. It may be wise to look for a town which has a wider variety of industry.

Keep an eye on this one – a new mine or second industry could spell boom times again!

Further Information

We’d like to thank Vision Real Estate for their assistance in compiling this report.

View the Domain.com.au suburb profile for Dysart.

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