will newman be the next port hedland?? would it be a good place to buy investment property?
newman
- Thread starter bensonmisty
- Start date
Maybe if the top quarter of wa dropped into the ocean
Little unsure what your asking here, prices are already above 800,000 which to me indicates the ship has sailed
well the prices havent hit as high as port yet as there are new mines opening around the newman area.
I'd say you're several years too late for Newman. Of course I could be wrong, but with an already high entry price, it's not the kind of money I'd be willing to gamble.
What are the companies?
Also what sort of resource size do they have?
I see what your saying about the price comparison but if your going to speculate your going to have to do a lot of research comparing the towns
Start with
Population
Dwellings
Estimated workforce requirements
Estimated dwelling requirements
Incomes
If you can draw comparisons with these stats between ph and Newman using estimated future workforce then you might be able to sleep better at night
Also look into what % of workers in each town are FIFO
It's a lot of money to put down on a hunch but then again the rental yields are awesome
There is lots going on in Newman right now and this causes accomodation issues but in 6 months time it will start to ramp down from a Construction point of view. However that said the operators of the mine will come in and although less in numbers they are more likely to live in a house than a camp, so you might do well out of it.
I would speak to local agents and get a feel for things.
Despite the ups and downs of BHP's decision making of recent, Newman will still be ticking along for a long time, there are plenty of Satellite Ore Body's that are undeveloped and will get developed as the others deplenish and they just shuttle train the ore into the Newman hub.
I would speak to local agents and get a feel for things.
Despite the ups and downs of BHP's decision making of recent, Newman will still be ticking along for a long time, there are plenty of Satellite Ore Body's that are undeveloped and will get developed as the others deplenish and they just shuttle train the ore into the Newman hub.
Also planned as a regional centre with a population of 15,000 in the next 5 years, so it's not going to disappear.
That's the thing that makes me chuckle.
Eastern states property investor gurus say that investing in "mining towns" are far too risky, they think thee one industry towns can disappear when the mine closes. They way Karratha/Port Hedland/Newman are being developed, the state government are never going to let these regional centres (not "mining towns") die as they are major centres for thie respective regions, plus they are not really built around a single mine. Port Hedland is getting $1.2B of Royalties for Regions money pumped in and similar numbers for Karratha and Newman.
Not bad for "mining towns".
That's the thing that makes me chuckle.
Eastern states property investor gurus say that investing in "mining towns" are far too risky, they think thee one industry towns can disappear when the mine closes. They way Karratha/Port Hedland/Newman are being developed, the state government are never going to let these regional centres (not "mining towns") die as they are major centres for thie respective regions, plus they are not really built around a single mine. Port Hedland is getting $1.2B of Royalties for Regions money pumped in and similar numbers for Karratha and Newman.
Not bad for "mining towns".
well played!
How do you die from Haemorrhoids???
I bought in Newman 4x1 last July for $935k. It has good size land, pool and rents to a service company on 3 year lease or $2500 pw. Far better return than hedland, karratha. You will always have people tell you the boom is over and it's too late but don't believe it. The service companies will still be around at Mt Whaleback for 15 years and yes there are others coming.
Secret is to buy a house with land and pool if possible not just one of the new 4x4 with no land which can only accommodate single fifo workers. I had 3 companies fighting to rent my house because they put their managers and their families in them. Hedland real estate and Elders are the best.
Good luck
Secret is to buy a house with land and pool if possible not just one of the new 4x4 with no land which can only accommodate single fifo workers. I had 3 companies fighting to rent my house because they put their managers and their families in them. Hedland real estate and Elders are the best.
Good luck
