Hot tip - Roxby Downs
- Thread starter cabo wabo
- Start date
KPH,
Got it for 275K, rent is $300pw.
When hunting around I did notice that larger, higher priced houses such as what Kskyring has purchased get a better rental return proportionally to purchase price.
But my goal was to find the absolute cheapest stand alone 3x1 I could get. Its relatively new (built around 2000) but is small and compact. At 300pw, its neautral after tax.
Kskyring,
Tell ur tenants that they can pop around and see my tenants for a few beers anyday.....
Maybe even a couple of prawns on the barbie...
Got it for 275K, rent is $300pw.
When hunting around I did notice that larger, higher priced houses such as what Kskyring has purchased get a better rental return proportionally to purchase price.
But my goal was to find the absolute cheapest stand alone 3x1 I could get. Its relatively new (built around 2000) but is small and compact. At 300pw, its neautral after tax.
Kskyring,
Tell ur tenants that they can pop around and see my tenants for a few beers anyday.....
Maybe even a couple of prawns on the barbie...BHP Billition senior management restructure
Good new is that BHP Billiton just announced a major restructure of the senior management to the market late last week. There is a newly created position at the highest level reporting directly to the CEO Kluppers. This position is "Uranium and Olympic Dam" CEO. This is the strongest indication BHP have made that they believe they will proceed with the Olympic Dam expansion. Should hear much more over coming months.
For more details heres an article...
http://www.news.com.au/heraldsun/story/0,21985,22059058-664,00.html
Good new is that BHP Billiton just announced a major restructure of the senior management to the market late last week. There is a newly created position at the highest level reporting directly to the CEO Kluppers. This position is "Uranium and Olympic Dam" CEO. This is the strongest indication BHP have made that they believe they will proceed with the Olympic Dam expansion. Should hear much more over coming months.
For more details heres an article...
http://www.news.com.au/heraldsun/story/0,21985,22059058-664,00.html
Woomera Detention Centre Option for Housing
I am sure workers would MUCH prefer to rent in Roxby for a myriad of reasons!
http://www.news.com.au/business/story/0,23636,22081276-462,00.html
I am sure workers would MUCH prefer to rent in Roxby for a myriad of reasons!
http://www.news.com.au/business/story/0,23636,22081276-462,00.html
Linnk doesnt work - here is the article
BHP workers may take over Woomera detention centreBy Cameron England
July 16, 2007 12:00am
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WOOMERA is gearing up to be the state's next boom town, with mining giant BHP Billiton admitting it is considering housing workers at the town's former detention centre.
As part of the pre-feasibility study into the proposed $6 billion expansion of the Olympic Dam copper, gold and uranium mine, BHP has made inquiries about housing workers at the site.
Spokeswoman Emma Meade said the company did not know how many workers it could accommodate at the former detention centre but they would be some of the estimated 3000 workers it would need to work on building the expansion from 2009 to 2012.
"We have made some inquiries about the possibility of accommodating a construction workforce at Woomera as part of the pre-feasibility process we're working through at the moment,'' Ms Meade said.
"Bear in mind, it is one of a range of options we're looking at. We're just doing some preliminary work at the moment.''
BHP already rents accommodation in the town.
Mining options
Workers commute the hour each way to Olympic Dam at Roxby Downs on a company bus.
The Woomera detention centre housed up to 1500 asylum seekers at its peak in 2000. It subsequently has been used by the Defence Department for accommodation.
Woomera went into decline after the closure of the detention centre in 2003. The population slumped to less than 200.
The population since has risen to more than 400, with the burgeoning mining and defence industries revitalising the Outback town.
US company Rocketplane Kistler is looking to create 200 to 300 jobs by 2008.
In late 2006, Kistler won a $272 million NASA (National Aeronautics and Space Administration) contract for launch trials at Woomera, with the view to finding a permanent base from which to supply the International Space Station.
At the time, the Canberra-based chairman of Kistler Woomera, Alan Evans, said the project would ``go on for a very long time, for the foreseeable future''.
"When the facility is up and running, there will be a couple of hundred people involved in the launch preparation and launch site,'' he said. In addition, he said late last week the project would create 200 to 300 technology jobs but that would not conflict with recruitment in the mining industry.
Mr Evans said the company was now finalising construction tenders for the project.
NASA requires the company to develop rockets capable of carrying cargo - and possibly astronauts - into space. Three launches must take place before 2010.
The changing face of Woomera is illustrated by the fact that up to 70 homes and eight accommodation blocks have been knocked down or relocated by the Federal Government in recent years.
A spokesman from the Defence Department said yesterday the Woomera Detention Centre was in the final stages of being handed back to Defence from the Department of Immigration - but there were no plans for it to be used as a camp to house miners or construction workers.
Western Australian Auzcorp this month said it would lease the mothballed Port Hedland immigration detention centre and refurbish it to provide accommodation for mining workers based in the state's Pilbara region.
BHP workers may take over Woomera detention centreBy Cameron England
July 16, 2007 12:00am
Article from: Font size: + -
Send this article: Print Email
WOOMERA is gearing up to be the state's next boom town, with mining giant BHP Billiton admitting it is considering housing workers at the town's former detention centre.
As part of the pre-feasibility study into the proposed $6 billion expansion of the Olympic Dam copper, gold and uranium mine, BHP has made inquiries about housing workers at the site.
Spokeswoman Emma Meade said the company did not know how many workers it could accommodate at the former detention centre but they would be some of the estimated 3000 workers it would need to work on building the expansion from 2009 to 2012.
"We have made some inquiries about the possibility of accommodating a construction workforce at Woomera as part of the pre-feasibility process we're working through at the moment,'' Ms Meade said.
"Bear in mind, it is one of a range of options we're looking at. We're just doing some preliminary work at the moment.''
BHP already rents accommodation in the town.
Mining options
Workers commute the hour each way to Olympic Dam at Roxby Downs on a company bus.
The Woomera detention centre housed up to 1500 asylum seekers at its peak in 2000. It subsequently has been used by the Defence Department for accommodation.
Woomera went into decline after the closure of the detention centre in 2003. The population slumped to less than 200.
The population since has risen to more than 400, with the burgeoning mining and defence industries revitalising the Outback town.
US company Rocketplane Kistler is looking to create 200 to 300 jobs by 2008.
In late 2006, Kistler won a $272 million NASA (National Aeronautics and Space Administration) contract for launch trials at Woomera, with the view to finding a permanent base from which to supply the International Space Station.
At the time, the Canberra-based chairman of Kistler Woomera, Alan Evans, said the project would ``go on for a very long time, for the foreseeable future''.
"When the facility is up and running, there will be a couple of hundred people involved in the launch preparation and launch site,'' he said. In addition, he said late last week the project would create 200 to 300 technology jobs but that would not conflict with recruitment in the mining industry.
Mr Evans said the company was now finalising construction tenders for the project.
NASA requires the company to develop rockets capable of carrying cargo - and possibly astronauts - into space. Three launches must take place before 2010.
The changing face of Woomera is illustrated by the fact that up to 70 homes and eight accommodation blocks have been knocked down or relocated by the Federal Government in recent years.
A spokesman from the Defence Department said yesterday the Woomera Detention Centre was in the final stages of being handed back to Defence from the Department of Immigration - but there were no plans for it to be used as a camp to house miners or construction workers.
Western Australian Auzcorp this month said it would lease the mothballed Port Hedland immigration detention centre and refurbish it to provide accommodation for mining workers based in the state's Pilbara region.
Hi Vern1981
Plenty of owner occupier & investor demand at moment and limited supply. You may need to speak to local agents and get the early word on listings.
BHP are due to release the environmental impact study in next couple of months. BHP might provide stronger indication of future timelines in their annual profit report due to be released on 22nd August.
Plenty of owner occupier & investor demand at moment and limited supply. You may need to speak to local agents and get the early word on listings.
BHP are due to release the environmental impact study in next couple of months. BHP might provide stronger indication of future timelines in their annual profit report due to be released on 22nd August.
Yeah, demand is strong and prices do appear to have risen around 10% in Roxby in past 2 months. Recent APEC deals with Russia uranium exporting should also help long term prospects of the expansion. Russia account for 40% of uranium enrichment potential globally, Olympic Dam accounts 40% of known uranium deposits globally - a match made in heaven! Not to mention Bush talking up the importance of Nuclear energy role in future energy needs.
Extract from "hotspotting" below. This should alleviate much of the expected pressure on SA water requirements prior to expansion pre-feasibility study release...
14 September 2007: Desalination plant planned for Adelaide. The South Australia State Government has announced the biggest infrastructure project in the state's history - a $2.5 billion solution to Adelaide's water supply problems. The key elements are a desalination plant on the coast of Gulf St Vincent and a raised dam wall for the Mount Bold reservoir south-east of the city.
Extract from "hotspotting" below. This should alleviate much of the expected pressure on SA water requirements prior to expansion pre-feasibility study release...
14 September 2007: Desalination plant planned for Adelaide. The South Australia State Government has announced the biggest infrastructure project in the state's history - a $2.5 billion solution to Adelaide's water supply problems. The key elements are a desalination plant on the coast of Gulf St Vincent and a raised dam wall for the Mount Bold reservoir south-east of the city.
We're with Lin Andrews and they have nothing left to sell. No stock, hasn't happened before too them.
Massive waiting list for rentals.
BHP and the council seem to organise land releases or in the case do nothing.
Agree with the posts, Roxby is looking good in the near future and dragging SA along with it.
cheers
quoll
Massive waiting list for rentals.
BHP and the council seem to organise land releases or in the case do nothing.
Agree with the posts, Roxby is looking good in the near future and dragging SA along with it.
cheers
quoll
I just had a look at Roxby Downs on RE.com.au.
almost everything is under contract...
Looks almost as popular as Gladstone....
almost everything is under contract...
Looks almost as popular as Gladstone....
Gold Deposit tipped to be announced this Wednesday in Olympic Dam
News in overnight. BHP are erxpected to announce the single largest deposit of gold ever found word is it has been found in/near Olympic Dam. Press release expected to be made to shareholders this Wednesday. Sun Herald experpt below:
SOUTH Australia's biggest mining operation, Olympic Dam, continues to deliver exciting prospects for the state's economy.
Operator BHP Billiton is tipped to announce the gigantic copper and uranium deposit near Roxby Downs could have the world's biggest deposits of gold.
While precise details are being kept confidential before the Australian Stock Exchange is notified, the mining industry is abuzz with excitement.
Analysts believe mining could prove to be a panacea for the South Australian economy, possibly even transforming it into another version of mineral-rich Western Australia.
But the mining boom comes as agriculture and horticulture continue to suffer from the effects of the prolonged drought. Deeply indebted farmers have begun walking off their properties while many regional communities are struggling as production plummets. Unfortunately, because of their geographic location, not all these towns will directly benefit from the mining boom.
Instead, they legitimately require urgent government assistance, both financial and logistic. Their long-term survival is crucial not only for the state's economy but also for the supply of fresh agricultural and horticultural products. Eyre Peninsula, for example, produces more than 45 per cent of the South Australian wheat crop and 20 per cent of the barley crop.
In a good year, the total value of agriculture is $400 million, most of which is exported.
SA simply cannot afford to lose any of this income, regardless of financial benefits from mining, particularly royalties.
While the mining boom is excellent news, the dreadful plight facing farmers cannot be overlooked.
News in overnight. BHP are erxpected to announce the single largest deposit of gold ever found word is it has been found in/near Olympic Dam. Press release expected to be made to shareholders this Wednesday. Sun Herald experpt below:
SOUTH Australia's biggest mining operation, Olympic Dam, continues to deliver exciting prospects for the state's economy.
Operator BHP Billiton is tipped to announce the gigantic copper and uranium deposit near Roxby Downs could have the world's biggest deposits of gold.
While precise details are being kept confidential before the Australian Stock Exchange is notified, the mining industry is abuzz with excitement.
Analysts believe mining could prove to be a panacea for the South Australian economy, possibly even transforming it into another version of mineral-rich Western Australia.
But the mining boom comes as agriculture and horticulture continue to suffer from the effects of the prolonged drought. Deeply indebted farmers have begun walking off their properties while many regional communities are struggling as production plummets. Unfortunately, because of their geographic location, not all these towns will directly benefit from the mining boom.
Instead, they legitimately require urgent government assistance, both financial and logistic. Their long-term survival is crucial not only for the state's economy but also for the supply of fresh agricultural and horticultural products. Eyre Peninsula, for example, produces more than 45 per cent of the South Australian wheat crop and 20 per cent of the barley crop.
In a good year, the total value of agriculture is $400 million, most of which is exported.
SA simply cannot afford to lose any of this income, regardless of financial benefits from mining, particularly royalties.
While the mining boom is excellent news, the dreadful plight facing farmers cannot be overlooked.
Fairly quiet I would imagine, sqm showing 6.7% vacancy. Any locals got observations?
Andmka tennant was a contractor to bhp, made redundant, i agreed to rent reduction to keep her (she is an excellent tenant) until she gets alternative work and things improve. Beats having the place vacant.
Just got back from SA, didnt get up north this time but in locals in other resource towns are fairly convinced Olympic Dam will start progressing with a new government. I am not so sure but one can hope.
Andmka tennant was a contractor to bhp, made redundant, i agreed to rent reduction to keep her (she is an excellent tenant) until she gets alternative work and things improve. Beats having the place vacant.
Just got back from SA, didnt get up north this time but in locals in other resource towns are fairly convinced Olympic Dam will start progressing with a new government. I am not so sure but one can hope.
I wouldn't expect any expansion plans to be announced any time soon (even after the election). The expansion will happen eventually, it is just a matter of timing & what scale. The originally planned $30b open pit is unlikely to be the way they go forwards. Any expansion is likely to be of a much smaller nature
Recently the town has taken a huge hit jobs wise (although they do say the majority of the redundancies are done now)- the town is very quiet and all the shops are very vocal saying they are all about to close.
Major over supply in housing currently - before the expansion was canned they increased the size of one of the work camps (ready for the expansion), so it is unlikely we are likely to see the rental shortage that we have seen in the past (until any new major capital works come through).
For those who like to buy counter cyclical, now would be a great time to buy. As long as you believe that things will improve! A lot of forced sales due to being forced out of town. I believe the town is very high risk however as it is driven by one mine/one company only - Ravensthorpe anyone? The yields do not even come close to the risk (unlike the pilbara).
Good observations waldo,
Any other regional sa towns you thing represent a better risk/reward ratio at the moment? Everywhere seemed to take a confidence hit after the shelving of OD and plenty of other places might have the economy to survive/thrive in its absence. Maybe this represents an opportunity as you say for the counter cyclical investor?
Any other regional sa towns you thing represent a better risk/reward ratio at the moment? Everywhere seemed to take a confidence hit after the shelving of OD and plenty of other places might have the economy to survive/thrive in its absence. Maybe this represents an opportunity as you say for the counter cyclical investor?
I must confess I'm not sold on any mining towns in SA.
Any major mining investment over the next 10 years (excluding Olympic Dam) will likely be within the Woomera Prohibited Area (WPA). It is hard to pick a town that will benefit from developments in the WPA - almost all mining activities within this zone would likely be FIFO, unless they were very close to the existing regional centres (Roxby Downs, Woomera or Coober Peddy).
Towns like Whyalla (theres a recent thread floating around somewhere in the 'Where to Buy forum') offer mining exposure - however while it does have a diversified industry base, there is a large exposure to the steelworks & surrounding iron ore mines (again too much reliance on one company for me; but I haven't done any research into it). It would also likely to serve as the major port for any mining in the WPA - however its importance would depend on commodity (obviously bulk comodities like iron ore/coal, ect have a much bigger impact on major port infrastructure, than say a gold mine).
As for general, non mining regional towns - I have no idea & I'll leave for others to comment.
Any major mining investment over the next 10 years (excluding Olympic Dam) will likely be within the Woomera Prohibited Area (WPA). It is hard to pick a town that will benefit from developments in the WPA - almost all mining activities within this zone would likely be FIFO, unless they were very close to the existing regional centres (Roxby Downs, Woomera or Coober Peddy).
Towns like Whyalla (theres a recent thread floating around somewhere in the 'Where to Buy forum') offer mining exposure - however while it does have a diversified industry base, there is a large exposure to the steelworks & surrounding iron ore mines (again too much reliance on one company for me; but I haven't done any research into it). It would also likely to serve as the major port for any mining in the WPA - however its importance would depend on commodity (obviously bulk comodities like iron ore/coal, ect have a much bigger impact on major port infrastructure, than say a gold mine).
As for general, non mining regional towns - I have no idea & I'll leave for others to comment.
All true, I guess for me its about making some long term decisions (smsf etc) and I can see the bumpy ride (recently and ahead) but I find it very hard to believe that there wont be significant growth at some stage in the next 30 yrs given the range of stuff in the ground from iron ore to uranium to gold silver copper etc etc etc. Would be nice to be in a few places well before the major cycle occurs on all that development - unless of course it happens after our lifetime - a possibility I guess.
