Here's a tip - Roxby Downs, 550 kms inland from Adelaide.
Normally i stay away from Mining towns as i think they are often too cyclical, but i guess i figure there's something different about this prospect as i'm settling on a property there this week. 6yrs old, got it for 275K, rent is $300pw.
BHP are very very soon to release tender documents to contractors for the mining of their $7-10 billion Olympic Dam expansion. Olympic dam at the moment is an underground operation, but BHP are expanding it to be open pit.
It will be one of the largest open pits in the world and the largest mining operation in Australia. The pit will span a staggering 2.5kms in length, 2.5 kms wide by 800m deep. It will have a lifespan of 50yrs.
The media knows Olympic Dam as being one of the existing 3 Uranium mines in Australia. People think "Olympic dam" and they think Uranium, but that does not do it justice... There is no orebody like it in the world. It has FOUR commodities - GOLD, SILVER, COPPER (worlds 5th largest copper deposit) and URANIUM (a staggering 38% of all known recoverable uranium on the planet).
BHP stands to make an unbelievable amount of money out of this project. As the project consists of 4 commodities, its future market sustainability is very strong.
The workforce currently is housed at Roxby Downs (16kms south of Olympic dam). Roxby has a population of 4000, and it is believed to double once the expansion gets underway. As it stands, Roxby Downs already has an accomodation issue with BHP forced to house some of its personnel at Woomera (74kms away) and at Port Augusta (260kms away).
Even though it is likely that many new employees will be housed in fly in /fly out camps, it is very likely there will be enormous demand placed on the towns existing infrastructure and housing.
Once tender documents are released and the media get hold of it, investors will become interested and prices will rise. Over the past 2 years the town has increased at about 10-12% pa, but is yet to have a significant price boom.
Houses are all fairly new, tidy, depreciable and current rents are good enough to make the property neatral after tax. With the onset of the expansion, rents will also rise significantly.
If ur interested, have a look on the internet and do ur due dilligence. I think an opportunity exists now to get in before the rush.
Normally i stay away from Mining towns as i think they are often too cyclical, but i guess i figure there's something different about this prospect as i'm settling on a property there this week. 6yrs old, got it for 275K, rent is $300pw.
BHP are very very soon to release tender documents to contractors for the mining of their $7-10 billion Olympic Dam expansion. Olympic dam at the moment is an underground operation, but BHP are expanding it to be open pit.
It will be one of the largest open pits in the world and the largest mining operation in Australia. The pit will span a staggering 2.5kms in length, 2.5 kms wide by 800m deep. It will have a lifespan of 50yrs.
The media knows Olympic Dam as being one of the existing 3 Uranium mines in Australia. People think "Olympic dam" and they think Uranium, but that does not do it justice... There is no orebody like it in the world. It has FOUR commodities - GOLD, SILVER, COPPER (worlds 5th largest copper deposit) and URANIUM (a staggering 38% of all known recoverable uranium on the planet).
BHP stands to make an unbelievable amount of money out of this project. As the project consists of 4 commodities, its future market sustainability is very strong.
The workforce currently is housed at Roxby Downs (16kms south of Olympic dam). Roxby has a population of 4000, and it is believed to double once the expansion gets underway. As it stands, Roxby Downs already has an accomodation issue with BHP forced to house some of its personnel at Woomera (74kms away) and at Port Augusta (260kms away).
Even though it is likely that many new employees will be housed in fly in /fly out camps, it is very likely there will be enormous demand placed on the towns existing infrastructure and housing.
Once tender documents are released and the media get hold of it, investors will become interested and prices will rise. Over the past 2 years the town has increased at about 10-12% pa, but is yet to have a significant price boom.
Houses are all fairly new, tidy, depreciable and current rents are good enough to make the property neatral after tax. With the onset of the expansion, rents will also rise significantly.
If ur interested, have a look on the internet and do ur due dilligence. I think an opportunity exists now to get in before the rush.
