After living in a booming mining town for the last couple of years and seeing the effect that the rescources boom is having on property prices here, can anyone help me with any information or first hand experience in Rockhampton or Mackay,Qld?
Rockhampton or Mackay?
- Thread starter gunnamakeit
- Start date
There's a long thread of Rocky here http://www.somersoft.com/forums/showthread.php?t=11656&highlight=Rocky
We've just sold ( unconditional , not settled ) our last place in Rocky . Bought 87,500 , sold 202,000 . It may go up further , but I was happy to take profits at this stage.
I'm not sure what medians are now , but I'd guesstimate they're around doubled from the previous peak which is what I was expecting . The Steve Miller Song " Go on take the money and run " is what I'm hearing at the moment re Rocky.
See Change
We've just sold ( unconditional , not settled ) our last place in Rocky . Bought 87,500 , sold 202,000 . It may go up further , but I was happy to take profits at this stage.
I'm not sure what medians are now , but I'd guesstimate they're around doubled from the previous peak which is what I was expecting . The Steve Miller Song " Go on take the money and run " is what I'm hearing at the moment re Rocky.
See Change
At the moment I'm ( more correctly my wife ) is busy organising our PPOR / Dual occ development in Wahroonga . Hopefully this should be finished / sold by mid next year . I have somewhere in mind ( Sydney ) , but havn't got funds and time to buy at this stage, and so far the market doesn't seem to be going anywhere.
I'm busy working ON ( and in ...
) my business at the moment to increase cash flow in preperation for the next cycle .See Change
Am familar with both. Will try to give an unbaised profile of each.
Rockhampton:
Known as "Beef Capital" of Australia.
Has CBD and major shopping centers.
Has university, state and public schools, public hospital (not sure about private hospital).
Is linked through road and rail to coal mining towns of Emerald & Blackwater.
Approx 8 hours for a one way road trip south to Brisbane from Rocky.
Is not on the coast, nearest costal towns are Bagara, Yeppoon etc.
Housing is mainly older QLD style with newer houses found in the outskirts.
Large meatworks employer closed down a few years ago, but city seems to be re-inventing it's self.
Also, Shoalwater Army training base is 50ks north of Rockhampton.
Mackay:
Known as being the "Gateway to the Whitsundays islands".
Has CBD and shopping centers.
Has university, state and private schools, private and public hospital.
Is supported by mixed business ventures eg. sugar cane and main coal port for the Bowen basin.
Is linked by rail and road to western coal towns eg. Moranbah, Nebo, Glenden.
Is on the coast with resort facilities close by.
Mackay is also a major center for the mining companies and their staff who live in Mackay and commute to the mines.
Housing is a combination of older QLD style and many new houses that have been completed or are currently being built. Generally houses in Mackay are more expensive than in Rockhampton.
By road Mackay is approx 12 hours north from Bris and 4 hours drive south from Townsville.
Okay that was my unbaised outline.
Now, my personal opinion if it counts would rate Rockhampton 7 out of 10 and Mackay 9 out of 10. Mackay is definitely in the "booming town" stage but will probably survive quite well if and when the coal mines slow down. It has many tourist attractions that would help support the local community with jobs and tourist $$$ as potential income.
Cheers,
AnneDe
Rockhampton:
Known as "Beef Capital" of Australia.
Has CBD and major shopping centers.
Has university, state and public schools, public hospital (not sure about private hospital).
Is linked through road and rail to coal mining towns of Emerald & Blackwater.
Approx 8 hours for a one way road trip south to Brisbane from Rocky.
Is not on the coast, nearest costal towns are Bagara, Yeppoon etc.
Housing is mainly older QLD style with newer houses found in the outskirts.
Large meatworks employer closed down a few years ago, but city seems to be re-inventing it's self.
Also, Shoalwater Army training base is 50ks north of Rockhampton.
Mackay:
Known as being the "Gateway to the Whitsundays islands".
Has CBD and shopping centers.
Has university, state and private schools, private and public hospital.
Is supported by mixed business ventures eg. sugar cane and main coal port for the Bowen basin.
Is linked by rail and road to western coal towns eg. Moranbah, Nebo, Glenden.
Is on the coast with resort facilities close by.
Mackay is also a major center for the mining companies and their staff who live in Mackay and commute to the mines.
Housing is a combination of older QLD style and many new houses that have been completed or are currently being built. Generally houses in Mackay are more expensive than in Rockhampton.
By road Mackay is approx 12 hours north from Bris and 4 hours drive south from Townsville.
Okay that was my unbaised outline.
Now, my personal opinion if it counts would rate Rockhampton 7 out of 10 and Mackay 9 out of 10. Mackay is definitely in the "booming town" stage but will probably survive quite well if and when the coal mines slow down. It has many tourist attractions that would help support the local community with jobs and tourist $$$ as potential income.
Cheers,
AnneDe
Hi Guys, Im a newbie to this site, but can say that we've had great results in the rocky market over the last few years, with 6 IP's that all give great returns in both rent and CG. Saying this we would have loved to jag some Mackay stuff, but at the time of purchase we were almost getting 2 in Rocky for 1 in Mackay. Getting tough in Rocky now as prices are catching up, but it still has a bit to go before it reaches Mackay prices.
It seems as if a lot of miners are setting up wife and kids in Rocky if working southern end of coal and mineral belt. Absolute shortage of land available to buid on seems to be driving prices up as well.
COuple of extra points to contradict AnneDee above, the meat works is up and running again and has been for a while, and doing very well. and Bargara is a four hour drive sth at Bundaberg It does have a private hospital and the public is about to have a vast pile of money thrown at it. Theres plenty of life left in the coal contracts and plenty in the mine developmnt area as well. Just read a couple of days ago in The Bully about a new Hotel [90 room] in CBD and a propose 30 storey and 2 x 15 storey appartment complex on the River. The developer told me about 4 mths that a casino may be part of this as well. Wait and see
Have a look in the pic gallery
Have fun
Bloss
Bloss
It seems as if a lot of miners are setting up wife and kids in Rocky if working southern end of coal and mineral belt. Absolute shortage of land available to buid on seems to be driving prices up as well.
COuple of extra points to contradict AnneDee above, the meat works is up and running again and has been for a while, and doing very well. and Bargara is a four hour drive sth at Bundaberg It does have a private hospital and the public is about to have a vast pile of money thrown at it. Theres plenty of life left in the coal contracts and plenty in the mine developmnt area as well. Just read a couple of days ago in The Bully about a new Hotel [90 room] in CBD and a propose 30 storey and 2 x 15 storey appartment complex on the River. The developer told me about 4 mths that a casino may be part of this as well. Wait and see
Have a look in the pic gallery
Have fun
Bloss
Bloss
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Mackay
I don't know first hand the housing situation in Rocky but I can help you with Mky.
Valuers are giving pptys a risk rating of medium in Mky at the moment due to the levelling of prices. This is up from a low-medium rating earlier in the year. The rents are high but so are the house prices.
A typical highset fibro (clad) 3 bedroom house can sell for 300k+. In a normal suburban block about 8km nth of town. This is rather high if you compare it to a house in Brissy where you get better long term captial growth.
My $$ is on Townsville at the moment for the long term growth and cheaper entry level - if we are talking regional Qld mkts.
Hope this helps
Cheers
Amanda
I don't know first hand the housing situation in Rocky but I can help you with Mky.
Valuers are giving pptys a risk rating of medium in Mky at the moment due to the levelling of prices. This is up from a low-medium rating earlier in the year. The rents are high but so are the house prices.
A typical highset fibro (clad) 3 bedroom house can sell for 300k+. In a normal suburban block about 8km nth of town. This is rather high if you compare it to a house in Brissy where you get better long term captial growth.
My $$ is on Townsville at the moment for the long term growth and cheaper entry level - if we are talking regional Qld mkts.
Hope this helps
Cheers
Amanda
Hmmmm... my vote is also for regionals in Qld but I am picking Mt Isa.
Huge mine expansion over the next 18 months + chronic housing shortage = strong rent rises + increasing property values.
Plus the growth in mining in the outlying area is also having an impact.
I guesstimate there is 2 to 3 yrs of catching up to go, in that town.
A Brisbane developer I spoke to was saying how difficult it is to find land around the North/South coastal corridor around Brisbane, so they are now actively trargetting regional areas, specifically Mackay where they have a subdivision underway.
I believe there is lots to be made by investing in regionals over the next few yrs while the urban areas struggle for growth.
Kevin.
Huge mine expansion over the next 18 months + chronic housing shortage = strong rent rises + increasing property values.
Plus the growth in mining in the outlying area is also having an impact.
I guesstimate there is 2 to 3 yrs of catching up to go, in that town.
A Brisbane developer I spoke to was saying how difficult it is to find land around the North/South coastal corridor around Brisbane, so they are now actively trargetting regional areas, specifically Mackay where they have a subdivision underway.
I believe there is lots to be made by investing in regionals over the next few yrs while the urban areas struggle for growth.
Kevin.
