Buy in which mining town??

[Icarus]

Ian, I was living in Grosvenor Dve in Moranbah for on and off 12 months just under 2 years ago and you really had to watch out for those pesky drop bears; you shouldn't have trouble now that most of the trees behind the cemetry have been cleared - it's the bunyip's living in the creek that you've really got to watch out for!

Roujnok - why just Moranbah/Blackwater? You say that you're travelling through the Central Highlands, while you're there do yourself a favour check out Clermont and Emerald as well. They were there long before M'bah and Blackwater sprung up and aren't just reliant on digging black stuff out of the ground.

Having lived in the area(s) for a number of years, I have a different view of investors coming in looking for CG/CF+ in places like Dysart, Middlemount, Nebo, Capella, Glenden, Alpha and even Blackwater/Moranbah. I wouldn't/haven't bought in any of these towns, as I've been there and experienced the tumbleweeds rolling down the main street type scenario and a large number of houses moved out on the backs of trucks while the numbers of "for lease" signs continued to grow in most streets around the town(s)... and I've only just turned 34.

I don't imagine that this will happen any time soon thanks to the gov't money grab, but as you mention, you're in for the long haul - and $.5M+ is a fairly substantial chunk of a cash to put down for your very basic house in M'bah. After your 1 week drive-by in Dec, you'll have a better idea of what you're looking for/looking at; and with your extensive IP portfolio, I'm sure that you'll be able to make more of an informed decision.

Welcome to Somersoft, lots on info on here - some good, some bad. I guess just filter, and don't take things to heart!

I was more of a TMNT fan growing up, cowabunga...

 

[roujnik]

Thank you, good recallection!

Thank you!
In magazines and newspapers they never write about houses moved to diffrent areas but you saw it, a very soubering recollection from a real wittness.
That is a very nice opinion/advice, that what I needed!
I look at Emerald as well!

 

[gfreer]

Mining Towns?

Hi fellow Investors.

I am asking your opinion as I will be in Bowen Basin soon and doing research now but I desperately need expert opinion.
1. Blackwater or Moranbah, where to buy and why?
2. Unit of the plan or established house and again why?
3. When ULDA is going to release some land as they promised in 2012?

Hi Roujnik
Middlemount is still affordable and growing. I prefer coastal towns like Bowen which is within driving range for DIDO workers and has potential due to massive expansion planned for Abbot Point coal loader and plans for Multi Cargo Port (20mins north). Diversified economies are important in the event of Chindia slowdown or extended miners strike. Townhouses and villas rent faster, because they are low maintenance and usually newer. Land tax can be a porblem with too many houses in the portfolio. PM me for more tips.

 

[timtam]

In answer to your question of few posts back, no, I haven't bought anything yet but have read all the replies with interest. It's fine to ask - that's how we learn.

 

[Ren45]

I've just made a similar post on another thread. I came across the following articl on QLD mining towns:http://blog.realestateview.com.au/2...from-prestigious-south-east-queensland-areas/

Experts are suggesting that Gladstone's median price growth of 10.8% as well as Mackay's and Toowoomba's growth of over 2% are indicators that these towns have great investment potential.

 

[vaughan]

I've just made a similar post on another thread. I came across the following articl on QLD mining towns:http://blog.realestateview.com.au/2...from-prestigious-south-east-queensland-areas/

Experts are suggesting that Gladstone's median price growth of 10.8% as well as Mackay's and Toowoomba's growth of over 2% are indicators that these towns have great investment potential.

2% growth is less than inflation = going backwards. Unless that was a typo and you meant 20%...

 

[Ergophobia]

For something completely different, have you considered Geraldton WA?

In the long term this has to be a good bet... Miners have only started mining the magnetite out the back of that area, expect a lot more once they perfect the process.

 

[pinkboy]

My Financial controller called for accomodation for 5 of our guys (1 being me) for this week as we were working at Saraji (20k from Dysart). No accomodation at Dysart, Tieri, Moranbah, Middlemount, Coppabella, Junction - take your pick where you will buy!

We ended up drive in/drive out until we blew our hours!



pinkboy

 

[hematite]

For something completely different, have you considered Geraldton WA?

In the long term this has to be a good bet... Miners have only started mining the magnetite out the back of that area, expect a lot more once they perfect the process.

I am a little skeptical about magnetite mining and how profitable it will be in the long run due to the immense amount of money required to process the ore. It's good now while prices are relatively high, but in the long run? I am not so sure about it.

 

[Ergophobia]

I am a little skeptical about magnetite mining and how profitable it will be in the long run due to the immense amount of money required to process the ore. It's good now while prices are relatively high, but in the long run? I am not so sure about it.

Long term iron is a finite resource, prices will continue to rise. As Hematite deposits are depleated and the magnetite extraction process is refined it can only get more attractive. The mid west has more iron in it than we know what to do with... they dont call it Mount Magnet for nothing

Geraldton has the added benefit of being livable too

The companies mining magnetite at the moment are mostly owned by the chinese and slip under the investment radar because they arent publically listed.

 

[Belbo]

Geraldton has the added benefit of being livable too

It was the a$$hole of the earth when I was growing up there.

 

[Ergophobia]

I didn't say it was nice

Atleast you can go for a surf before/after work without crowds

 

[Belbo]

I didn't say it was nice

Atleast you can go for a surf before/after work without crowds

Ever been caught in that rip on the Back Beach down the bottom of Tarcoola? Damned, taught me what endurance swimming was. 2 minutes to get in, 2 hours to get out. Heck of a rush!

 

[JWR]

Is Geraldton the best value seaside location in Australia at the moment? In my opinion it has good prospects but I cannot get past the high mgmt fees they charge in WA (10% + extras - and lots of them). Has anyone found a way to get them lower without the extras (besides self managing and buying 20 properties?)

 

[mrsswan]

Hey Belbo- maybe Geraldton wasn't the problem?