I noted some figures when I was looking at Mt Morgan when I was checking our Rocky a few months ago . Can't remember what the time frame was, but it was predicted to Shrink by about 20-30 % over it. Didn't look much further in detail , but my understanding is it is a mining town with a dwindeling mine.
There was a reasonable amount of publicity a few months ago , as it was singled out on TV as having the cheapest houses in Australia ( Usually there is a reason for things like that ...).
I did hear that because of this , some people had moved up there resulting in a mini boom, but that was just hearsay.
I went on a guided tour through Mt Morgan last year and was impressed. It has alot of quaint old homes with lovely gardens. It has a terrific museum. The mine closed years ago but there has been talk of maybe going through the old stuff with modern equipment to see if any more gold can be found.
The town is about 45 mins from Rockhampton, down a very windy range. The biggest industry is unemployment. While I enjoyed the tour, I can't say that I would buy there as an investment. It's all good and well to buy a cheap house, but it depends on the type of tenant (if any), you prefer I guess.