I'm considering investing in Gunnedah in Northern NSW. I'm doing some work down there in one of the coal mines that's doing a major upgrade, and I've had a bit of a look around & done some investigation.
There seems to be quite a lot going on down there.
Whitehaven just committed to spend $600m in the Gunnedah basin over the next five years. Idemitsu are spending around $400m, Aston a similar figure. Caroona (BHP) and the Watermark project (Shenhua) are also in their early stages. Lots of smaller mines are operating and expanding in the area.
Santos are in the area doing Coal Seam Gas exploration/proving resources, and Eastern Star Gas (being bought out by Santos) are also in nearby Narrabri using gas to generate power and have big plans to expand their gas exploration & pipe it to QLD and/or Newcastle.
I've read the "More Gas than Gorgon" & "More Coal than the Hunter Valley" lines & they make me take notice.
Median prices for a house are around $244 for a house and $237 for a unit. Cheapies for under $200k are around, but seem to be in the low lying areas of town.
The place has a similar vibe to Chinchilla in the Surat Basin, QLD... I should have bought there (I was working there on a coal project a couple of years ago) before coal and gas really took off out there. Oh well! I must say, I like Gunnedah better than Chinchilla, it's bigger, nicer, has a good family & sports find of feel about it, plus great pub grub.
I wonder, if we bought investment properties based on great pub grub (the steaks are awesome, and cheap!), where would we end up?
Anybody got any thoughts on the Gunnedah basin? There are some older posts on the area... the area had good gains pre GFC, and has started to fire post GFC (last quarter, house prices rose by 17% according to RP Data). Yields are around 6%, so not fantastic, but reasonably solid, especially if the place takes off like the locals are expecting it to. Rents are on the rise, I hear.
ARTC have committed to upgrade the rail line to the area to carry more coal, with both Aston Resources and Whitehaven having committed to coal rail contracts.
The GP superclinic in town is under construction as an extention to the hospital.
Happy to hear your thoughts...
There seems to be quite a lot going on down there.
Whitehaven just committed to spend $600m in the Gunnedah basin over the next five years. Idemitsu are spending around $400m, Aston a similar figure. Caroona (BHP) and the Watermark project (Shenhua) are also in their early stages. Lots of smaller mines are operating and expanding in the area.
Santos are in the area doing Coal Seam Gas exploration/proving resources, and Eastern Star Gas (being bought out by Santos) are also in nearby Narrabri using gas to generate power and have big plans to expand their gas exploration & pipe it to QLD and/or Newcastle.
I've read the "More Gas than Gorgon" & "More Coal than the Hunter Valley" lines & they make me take notice.
Median prices for a house are around $244 for a house and $237 for a unit. Cheapies for under $200k are around, but seem to be in the low lying areas of town.
The place has a similar vibe to Chinchilla in the Surat Basin, QLD... I should have bought there (I was working there on a coal project a couple of years ago) before coal and gas really took off out there. Oh well! I must say, I like Gunnedah better than Chinchilla, it's bigger, nicer, has a good family & sports find of feel about it, plus great pub grub.
I wonder, if we bought investment properties based on great pub grub (the steaks are awesome, and cheap!), where would we end up?
Anybody got any thoughts on the Gunnedah basin? There are some older posts on the area... the area had good gains pre GFC, and has started to fire post GFC (last quarter, house prices rose by 17% according to RP Data). Yields are around 6%, so not fantastic, but reasonably solid, especially if the place takes off like the locals are expecting it to. Rents are on the rise, I hear.
ARTC have committed to upgrade the rail line to the area to carry more coal, with both Aston Resources and Whitehaven having committed to coal rail contracts.
The GP superclinic in town is under construction as an extention to the hospital.
Happy to hear your thoughts...
