Anyone with knowledge on Broken Hill

[macduff]

Has anyone looked into Broken Hill for residential rental investment opportunities.

I believe thay have just sunk a new shaft and the mining co have made long term committment to the area.?

A quick search shows housing sitting around 70-100K so might be good cashflow opps.

any market inteliigience would be welcome.

 

[Fester]

Has anyone looked into Broken Hill for residential rental investment opportunities.

I believe thay have just sunk a new shaft and the mining co have made long term committment to the area.?

A quick search shows housing sitting around 70-100K so might be good cashflow opps.

any market inteliigience would be welcome.

Gee, I had an aunty from Broken Hill died several years ago. Her old place in Railwaytown sold for $11K (not a dump either!). Used to spend a lot of time up there, many relatives once, but most of them have moved out now, no work. I looked at it recently but was told a lot of unemployed up there now so I guess they could be your potential tenants!

 

[quiggles]

I think what you need to look into is the long term future of the Silver City. I did, and didn't find it encouraging. Working from memory, the company that bought the mine (Pasminco?) has put out bullish forecasts of extraction rates that have increased the cashflow but shortened the expected life of economic reserves from 12 years to 7 to 10 years.

The answer to the future, said the local council was to make Broken Hill a tourist destination.

I was able to buy there with 12% returns, but chose not to. I thought the risk was just too high. If you disagree, and heaven knows I'm not a mining guru, PM me and I'll put you in touch with someone who when I last spoke to him was selling properties there - nothing in it for me, just a hand if you are interested.

 

[macduff]

re: Broken Hill

Thanks for the replies. Food for thought and more investigation will be needed. aint it always the way