Dysart and Moranbah

This weeks report looks at Dysart and Moranbah; two high growth, high rental yield mining towns in Queensland. The Real Estate Institute of Queensland discusses rental yield growth in the state and Nicola looks at things to think about for your investment property as summer arrives.

http://www.youtube.com/watch?v=tn8a0e1tGgk
 
good one!
have been to both moranbah and dysart and studied their infrastructure & projects. Have 2 ips up there. Comparitively, Moranbah is a standout winner.
 
Prices are shooting up again after the slump.

I believe there is still time to get a bargain there.

Remember rents are usually a lot higher than this.

Gentle_Chief
What was the highest rents that you have got from your IPs there?
 
Prices are shooting up again after the slump.

I believe there is still time to get a bargain there.

Remember rents are usually a lot higher than this.

Gentle_Chief
What was the highest rents that you have got from your IPs there?
4 bed newer house = 950 pw
3 bed Unit (townhouse) - 650 pw
 
I tried to buy a new listing over the phone last week, but it had sold before it even hit re.com.au..
Have plane tickets for the middle of Feb to have a peek around the area.
 
Seems to be a lot for sale and rent!

Most of it is older fibro housing.....any reason why so much is on the market for rent?
 
Seems to be a lot for sale and rent!

Most of it is older fibro housing.....any reason why so much is on the market for rent?
The towns aren't that old,built by the mines and some personal buildings.
Normally they are just totally overfull with miners,but since the downturn there are a few rentals around.

When the mines go in full swing again,it will be impossible to get a room.:(
I worked in those towns a few years ago and it was always a problem getting any kind of accommodation.
 
Hi Sash

GFC hurt this market last year and rents have really come off and definately a glut at the moment.
Mining towns are volatile at best, just have to have an exit plan in place and also look at jumping in at the right time. I have a couple of friends who have purchased in these areas and still hold properties and doing very well.

BMA is pretty much dictating what they will pay for rents, this company is also trying to lock in long leases 2-4 years as they know that rents will blow out and it wont be too far away.

There have been many announcements on various projects in Bowen Basin which are about to start so expect to see investors flock back into this market.

I placed an offer on a mining town property and there are 3 other offers on the table, I am still waiting to see whether I got it.

Cheers, MTR
 
News on the Dysart,Moranbah,Blackwater areas.

BMA are in the process of building new houses, 85 in Dysart finishing end of June,(that I know about),the other numbers I do not the know the numbers.

Apparently about seven years ago, BMA built and sold houses to the miners for $4000 each,the catch was that they couldn't sell them for seven years.

I don't know the exact conditions of the sales.

Seven years is up this year and the houses will be sold come end of June.The old tenants from those houses have been told they have new houses to move into.

This will be interesting for those with IP's there,

Question is will this flood the town with rentals?

Anybody thinking of buying there now should hold off until these house hit the market.;)

I found this article that is a good read of a worse case scenario,probably not related to this subject entirely,but thought I'd put it here anyway.:rolleyes:

http://www.oldhouseweb.com/architecture-and-design/windows-on-the-past.shtml
 
Hi All,

I have a property in Moranbah (since 06) and am looking at selling. I have just signed another lease for 12 months at $900/wk. Any opinions on whether prices are moving again or still stagnate? There seems to be mixed media on the subject.

Thanks
 
I have just signed up for land and house package in Blackwater, no blocks available for 4 months, am told blocks will cost more with next release, I believe there will be continued demand in this area.

Cheers, MTR
 
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Hi All,

I have a property in Moranbah (since 06) and am looking at selling. I have just signed another lease for 12 months at $900/wk. Any opinions on whether prices are moving again or still stagnate? There seems to be mixed media on the subject.

Thanks
There is so much going on there in the near future.
Lots more houses available,Local hotel even has DA for 185 new rooms,possibly next year.

I believe once the houses are for sale,the overall price's will drop for a while.
This shouldn't affect you until this new lease is up.
 
I have just signed up for land and house package in Blackwater, no blocks available for 4 months, am told blocks will cost more with next release, I believe there will be continued demand in this area.

Cheers, MTR
Can I ask the price of House and land packages in Blackwater?
I agree on the demand in all these areas,
I was mainly pointing out the amount of houses that will be for sale soon and for what reason.
These miners are fussy,they will rent a new house rather than an old one. ;)
 
Hi PaInter
that's good to know.
I prefer new over old, and depreciation is a bonus.
I am paying $385K, 4x2.
The older style highset homes perhaps 4x1 are selling for around $320K, I would rather go new any day.

Cheers, MTR
 
News on the Dysart,Moranbah,Blackwater areas.

BMA are in the process of building new houses, 85 in Dysart finishing end of June,(that I know about),the other numbers I do not the know the numbers.

Apparently about seven years ago, BMA built and sold houses to the miners for $4000 each,the catch was that they couldn't sell them for seven years.

I don't know the exact conditions of the sales.

Seven years is up this year and the houses will be sold come end of June.The old tenants from those houses have been told they have new houses to move into.

This will be interesting for those with IP's there,

Question is will this flood the town with rentals?

Anybody thinking of buying there now should hold off until these house hit the market.;)

I found this article that is a good read of a worse case scenario,probably not related to this subject entirely,but thought I'd put it here anyway.:rolleyes:

http://www.oldhouseweb.com/architecture-and-design/windows-on-the-past.shtml

hmm haven't heard about people being offered houses for 4k and know quite a few bma workers maybe in 98 then again houses could be had for 8k then for a normal dump and 25k for an undermanagers house
 
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