Has anybody had recent experience with the Emerald (Qld) property market?
Was it good or bad?We bought there in 2004 and have had good CG. Sales have slowed down recently, and returns are not as good as they were, but 8%+ returns are still available if you hunt them out. There has been a lot of new estate blocks of land sold, and therefore an influx to the market of new houses, which is impacting sales of older houses. Rental demand is still strong however.
One thing to be aware of is the cost of having repairs done, if required. Contractors charge pretty much what they want because they can make as much as they want from the mines, so if you want them, you pay for it!
Wake
Just a little bit of information about Emerald and surrounding mines. I am an electrician working on new infrastructure at one of the BMA mines. This will be completed mid way through the year. This will mean around 200 people will most likely be leaving the area moving onto the next project. I know there is a lot of upgrading of mine infrastructure going on, however i am not sure how long these projects have left. The mines only require a few maintenance staff so numbers in the area will drop as a result. It may be an idea to check what type of upcoming works is going to be happening at the surrounding mine sites. I hope this is of help as i am new to this site.
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