There are a number of large projects that have been granted as “significant” by the QLD government. Coal seam gas is set to explode and a number of huge coal mines are set to open. This, along with new rail lines, new port(s) and gas power plants should send prices and rent upwards.
Any advice on what towns are undervalued? I personally like Moura, Alpha and Wandoan.Yep Alani, I reckon you are spot on! We keep an on on dip.qld.gov.au under projects and Moura should go excellently over the next 2 years with Belvedere and also the Moura rail link. We have had a house there for 3 years, always tenated for over $400 a week so rent has covered the mortgage until just recently with things a bit quiet last 4 or 5 months and we had to reduce rent this time. However, I just heard that Anglo took on 50 more contractors with no housing supplied so that all good news. We have had people beg us for our house. A good idea is to buy the nicest you can as there are some real old dodgy places out there. It helps down the track when you want to sell if it doesn't need much work to get top dollar. I reckon 2010 & 2011 will se rents and house prices go boom out there. I noticed yesterday 2 new houses for sale out there asking much higher than the others so the ones sitting on the market for a while will sell quickly I think. I also looked at Alpha as no places for rent there much but until the mines kick off out there, there isn't much else happening. With Moura, they already have Anglo and the Dyno Nobel plant and also cotton mines so theres always demand. The only negative with the place is we have struggled with Property Managers and gettign any work done is very hard as they charge a heap. We are now using Amanda at Moura Real Estate and she seems to be good and gets things done. I also pass my email add on to tenants & ask them to contact me with any issues. This makes for happy tenants. Good luck, reckon you are onto a winner….let me know if you want any more info as I know the town well and keep an eye on Shift Miner mag and Steel Guru as well.
Hey kelleyhutcho,
I too have a property in Moura – bought it last year, and also have it Managed with Amanda from Moura Real Estate. Not as happy as you are with the service though…errors on the managers part has lead me to no tenant for the past 4 mths! Our tenant (corporate) was accidently sent out a 6 mths lease renewal instead of 12 mths, which they signed. I picked up on this and told the manager, who called the tenant, but no, the tenant was happy to keep it at 6 mths, hence they vacated at the end of the 6 mths lease leaving me with no tenant right at the quiet time! not very happy, BUT having said that, it is all picking up now and am as optomistic as you are with the new projects and amount of housing needed for the 500+ employed people that will be coming in from out of town!Definately will see a boom there over the next couple of years, then I think i will sell up
The real estate industry there could do with a bit of a kick up the bum in the mean time thats all!!
TracyHey Tracy D,
I reckon Amanda only found us a tenant as I was on her case all the time.!!! It took a few weeks to even get the property on the net. The other real estate is no better and we are forced to use one although my last tenants I had for 2 years and we communicated directly by email since we both struggled with Ray Whites. We are the same as you, will hold onto it till things boom in next couple of years and we too will sell up. We actually went out there in May and quickly painted it and cleaned carpets and so on, a good chance to see our investment as we bought it unseen. Just to get some pavers tidied up and a few other jobs they were going to charge a bomb so we did it ourselves and had a ball! Good luck with your place, I'd like to have a couple more out there as they will make some money in next 12 months or so hey?Its time to have a look at Wandoan, but avoid the really cheap houses as they need full reno's and the mining and drilling companies in town are looking for clean tidy furnished houses.
We just sold a 5 bedroom on 1012sqm for 235k, settles next monday.
It is furnished and is leased for $450 per week.
It cost us 195k 18 months ago, but it had 3 blocks on 3 titles for a total of 3036 sqm.
We de-amalgamated the blocks and are building units on both of these, unless someone wants 1/2 an acre in town.
Come March next year you wont rent here under 1k a weekHey all,
Been taking a keen interest in this area recently……..Not a local to the area(lived in Toowoomba for a few years),
Why is Wandoan seen as the better investment location?
Miles, Chinchilla and Dalby seem to ping up on my radar a little more prominently due to the planned infrastructure. Granted the 'boom' if such would come is a little way off. I just wanted to get your thoughts on the other locales in the surat basin area and why one would be preferable rather than the next?Cheers,
Mick
Have been nosing around Wandoan and it appears that it is in the phase of the calm before the storm. Also Chinchilla and Miles are in line for more infrastructure projects with a new mine started near Chinchilla. Have you any further thoughts scedd
DodgerC wrote:Have been nosing around Wandoan and it appears that it is in the phase of the calm before the storm. Also Chinchilla and Miles are in line for more infrastructure projects with a new mine started near Chinchilla. Have you any further thoughts scedd
Wandoan is the starting point for the new railway line to Banana (ATEC) which will take all the Surat Basin coal to ports at Gladstone, Bowen & Mackay.
Wandoan is the location of the new Xstrata mine which will be the largest coal mine in OZ (30 million tons per year)
Wandoan is getting a coal seam gas power station, built by GE from the USA
Wandoan is getting a water pipeline from the Natan dam, 85kms away, which has got Govt approval.
Wandoan has got Cougar Energy & Arrow Energy drilling for Coal seam Gas.
Wandoan has the Cockatoo coal mine.
Wandoan has Xstrata to the west, native title issues to the south, floodplain to the east and the airport to the north. There is nowhere for the town to grow, so existing land is becoming a premium.
Wandoan is getting a 1200 man camp by RED for the Xstrata single men workers, so the families and managers will be looking for accommodation in town.
Hows that for a monotonous reply.
And in case anyone is wondering why i sold the house, i have been presented with my 1st grandughter. so i liquidated 2 properties and bought my son and his wife a house.
Isnt that why we do this.
I can provide links and info to anyone who doesnt believe or is interested.
SteveSuccint reply. Also there will be a number of gas pipelines going through Wandoan to Gladstone.
Roger
DodgerC wrote:Succint reply. Also there will be a number of gas pipelines going through Wandoan to Gladstone.Roger
Exactly, which will see the CSG industry boom. Looks like everyone has been doing their research. Might have to start shopping for bargains!
In regards to Moura, I have property there and have had the same issues with managing agents in the past but Amanda seems to be quite helpful atm.
In my opinion, I think these three towns have the potential to become the next Moranbah in the next 2-3 years. What will be req’d is fast tracking of DA’s from govt, patience and good negotiation on property deals.
Yes and on Moura, the Belvedere mine that has just been approved will need to employ 500 staff (so the feasability study says). At the moment there are only 34 homes available to rent!. So there will be a fight over the rentals and that will shoot the rent up.
However it is very quiet there at the moment, you may be able to get some great deals on buying while it is quiet before the storm!around 50 new homes will be built in moura in the next few months in the Dawson view estate
Hi Kelley,
Just wondering what your thoughts are on the commencement of Belvedere? We had a rental sit vacant fot 5 months up there, and granted, it wasnt the prettiest flower in the bunch, but this was reflected in the price. Last time I was there, I did notice approval for a new child care centre. I see Ray White real estate has sold up and gone, Moura RE has taken it over. It popped up during the last boom, does this mean the locals are head shy?
Personally, I would like to think it is all about to take off again, but it will be interesting to see what the Dawsonview Estate does to the exsisting rental market.
Hi Guys, Interesting to see some Moura discussion pop up. I too have an IP down there. Got it built in 2007 by a local builder and have had it rented directly to Anglo Coal ever since. Current lease was 460pw over 2 years til Dec 2010.
Will admit to having stuck my head in the sand on this one, as I have not even seen it since handover and I'm not sure that anyone from Anglo managmenet team has been in there either. I figured people would soon complain if there was a problem and given that it was a new home there shouldn't be any problem. Anglo said they would have a look through it by xmas, hopefully the news will be good.
As to Belvedere I understand that it still has to go through the EIS process yet. Not that that usually presents any hurdles for monied up corporates.
The Dawson View Estate has been trumpeted as iminent since mid 2007, and at the time had some serious water allocation issues. I haven't been there for while but I understand there are a lot of blocks still available and very little has acutally been built on. In fact there has been more new housing put in over towards Banana. But I have never seen it as a serious threat as it does not have the other infrastructure, decent school, grocery store, hardware etc. that may change in time.
I will admit to not really keeping up with things.
cheers
Rav
Hi Rav
sent you a message re last post and await your reply.
cheers
Hey Guys/ Gals
What are your thoughts on Moranbah?
Price to Rental ratio is obviously good but in terms of sustainability etc.
Hi steve
great post on Wandoan mate.
did you get my PM, if not would appreciate links as offered in your post.
rgds
HP
Interesting to note rents in Dysart are dropping all the time, now as low as $400 per week to get people in and as low as $450 for a 3 bed in Moranbah.
I get the impression the glory days are over for a while.
mattnz wrote:Interesting to note rents in Dysart are dropping all the time, now as low as $400 per week to get people in and as low as $450 for a 3 bed in Moranbah. I get the impression the glory days are over for a while.Also, I have been informed that a new housing estate is due to open up (i think in Dysart or close by) exclusive for one of the mining companies. This is sure to drop demand again. I may be mistaken but I believe it is a community estate rather than a single miners barracks.
With a market of about 100 available rental listings in Moranbah & Dysart and ever dropping asking prices it is interesting to see ho this will go at least in the short term.
newbi2 wrote:Hi Kelley,Just wondering what your thoughts are on the commencement of Belvedere? We had a rental sit vacant fot 5 months up there, and granted, it wasnt the prettiest flower in the bunch, but this was reflected in the price. Last time I was there, I did notice approval for a new child care centre. I see Ray White real estate has sold up and gone, Moura RE has taken it over. It popped up during the last boom, does this mean the locals are head shy?
Personally, I would like to think it is all about to take off again, but it will be interesting to see what the Dawsonview Estate does to the exsisting rental market.
Hey Newbi, from the website Belvedere going thru EIS so only a matter of time, 2011 according to Vales website. While quiet at moment it will pick up, Rail line is supposed to be commencing construction towards end of year so all these are good things. My understanding of why Ray White closed is that the business was family owned and the marriage broke up. Linda from Ray Whites is now at Hourn and Bishop. I had a look at Dawson view…the exisitng township much prettier, existing trees and nice paths and gardens. Guess Dawson View will appeal to those who want brand new but the older homes nice and cool with verandahs and wooden floors etc so I think they will always be popular. That might be just me being a woman who likes character homes!! Not many homes in Dawson View yet, developer may wait till things pick up out there then go hard out getting them built to cope with the increasing demand. I would hope by end of this year its a different story out there…I have my fingers crossed!!
cheers!
Kelley
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