All Topics / Help Needed! / Rental market in Middlemount – closed shop or not?
Hi all,
I have the chance to purchase off plan, half a duplex in Middlemount, in part of Dale Shearer's new development. Problem is, I just can't get enough info about the rental market, or the market in general there. I've heard that it's a closed shop as far as private investors go, that most of the properties are owned by the mining company and leased to their employees. Does anyone have any real experience there? It seems as if it's a town set to boom, with mine expansions happening, and Macarthur Coal getting their mine on line soon (I did speak to someone at Macarthur Coal, who said all their contractors and employees are currently living in the camp sites, but no firm answer as to where they will be permanently housed), I also heard there would be a rail link to the new port at Bowen, which to me would indicate that it's there to stay. I would hate to buy a property and find I can only rent it out to contractors while they are there building the new mines, only to find out that when they've gone I can't rent it or even sell it. I know mining towns are always a risk, but I just want to arm myself with as much real info as possible before jumping in, as this is my first investment property. Thanks!
Stu.
Hi Stu,
Here's another thread from this site. https://www.propertyinvesting.com/forums/property-investing/help-needed/4323195 I'm not sure if this will help but it covers other mining communities in the area.
Andrew
itsandrew
Go as far as you can see and you will see further.
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