Moranbah, QLD
- Thread starter Crankshaw
- Start date
At their peak, houses like this were selling for $750k and renting for $2,000 a week.
I visited Moranbah 2 years back. It definitely is a mining developed town, not a town which has turned into a mining town. It has no soul (as in naturally developed). Cleremont, 120 km away, on the other hand has some soul, has some history, is not a mining developed town and therefore bares some resemblance to a normal town with a normal small town shops. Limited in what it has to offer but given a choice between the two it is a now brainier.
Take mining out of Moranbah and you have a small unnatural town in the middle of nowhere, like such in areas of Australia which are now in ruins. Take mining out of Claremont and you still have a town with farmers.
Take mining out of Moranbah and you have a small unnatural town in the middle of nowhere, like such in areas of Australia which are now in ruins. Take mining out of Claremont and you still have a town with farmers.
AR MORANBAH SV $177,500 (2014) SV $150,000 (2015)I think that the harsh scary reality is that the bottom of the cycle could be when things are worth $0.
Towns like Moranbah were developed only for mining. Take the mining away and there is no reason for the town.
In light of the developments over the last decade or more, I am guessing that very little large scale investment will be put into any of the mining only towns. These towns were built in times of poor availability of flights, decent cars and the internet. The 100% FIFO push does little to help the towns.
The likes of Emerald/Clermont etc. are more likely to receive investment/infrastructure in the longer term.
Towns like Moranbah were developed only for mining. Take the mining away and there is no reason for the town.
In light of the developments over the last decade or more, I am guessing that very little large scale investment will be put into any of the mining only towns. These towns were built in times of poor availability of flights, decent cars and the internet. The 100% FIFO push does little to help the towns.
The likes of Emerald/Clermont etc. are more likely to receive investment/infrastructure in the longer term.
I remember when I was in the Pilbara back in 2000. I visited Paraburdoo which is a town built by a mining company - near Tom Price. It was basically closed down with just a a few people living there, I'd be surprised if more than 100 by the look of it, possibly half that. Brick houses, curb and gutters, a neat little town built back in the 70's which seemed to be maintained, but no one there, basically a ghost town including tumble weeds and cockatoos stained iron ore red. The mining company had no use for it at the time as I understand it. Today it is probably back in full use.
I mining company can close down its own town when it has no use for it and does not affect anyone else other than food suppliers etc, but mix private housing with mining company properties like Moronbah and who gets left holding the baby when the plug is pulled!! They already started building more of their own properties so that they would not be held to ransom on rentals by private investors, and many new investment houses were sitting empty after completion when I was there.
I mining company can close down its own town when it has no use for it and does not affect anyone else other than food suppliers etc, but mix private housing with mining company properties like Moronbah and who gets left holding the baby when the plug is pulled!! They already started building more of their own properties so that they would not be held to ransom on rentals by private investors, and many new investment houses were sitting empty after completion when I was there.
