Ooralea is a smaller suburb in Queensland within the Mackay local government area (postcode 4740). With a population of 3,691, the suburb has a mix of young professionals and families with a median age of 35. Households earn a median income of $117K per year, with an average household size of 2.7 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +0.9% year-on-year at the LGA level. QLD employment has moved +0.9% year-on-year in the official Jobs and Skills Australia NERO series, which provides the broader jobs backdrop for this suburb. QLD also had 32 Commonwealth-backed major projects under construction, 12 underway, and 50 in planning as at 2 October 2024, which is useful as a broader delivery backdrop rather than a suburb-specific project count. The most common occupations are technicians & trades, professionals, clerical & administrative. Employment in the area leans toward healthcare and mining. The top ancestries reported are Australian, English, Irish.
Ooralea has a median house price of $540,000, which has moved higher by 4.8% year-on-year. Units have a median price of $440,000. The current median weekly rent is $700. This gives a gross rental yield of approximately 6.7%. The median monthly mortgage repayment is $1,820.
The crime rate in the Mackay LGA is moderate at 6,570 incidents per 100,000 population.
From an investment perspective, Gross rental yield sits at around 6.7% (high yield). Property prices sit below the state median ($540K/$1.1M), which can point to relative value. The price-to-income ratio of 4.6x is considered affordable. House prices have moved +4.8% year-on-year. Population growth of +0.9% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.