I was just wondering what peoples feelings were about investing in property in muswellbrook/Singleton ?
Good area, previous govt has shifted a few departments up that way to shore up votes – so there is plenty of work. Mines are kicking ahead but watch out for effects of carbon tax on coal miners/power generators.
Muswellbrook very busy little town right now, existing nearby coal mines all expanding, new Xstrata mine at Mangoola up and running, with above target production and more expansion and hiring of employees planned now. Bhp's Mount Arthur mine, near town, expanding and hiring. Mount Pleasant mine, just outside town, expected to start construction this quarter 2012. New rail line under construction from Newcastle coal terminal to haul all the increased coal supply from the region. Expansions of coal export terminals at Newcastle ongoing. Extension of F3 most of the way to Singleton will benefit region, possibly more so Singleton than Muswellbrook. Muswellbrook houses much cheaper entry point than Singleton.
Mining companies, State governments and foreign investors and companies pouring money into new and expanding coal mines, new rail lines to ship the coal, expanding coal export terminals in Newcastle, Gladstone, Mackay and Bowen.
A great deal of this information is available on this forum in greater detail. I suggest trying such searchs as "Muswellbrook, Mackay, Bowen Basin, Abbot Point, Hay Point, Dalrymple Bay, Gladstone."
Once you become aware of the unprecedented current and planned expenditure on coal, I think any concerns you may have about the carbon tax will be put into perspective. Watch what the mining companies do, not what they say. I see no indication of them being concerned or cautious about the carbon tax.
Muswellbrook is steaming ahead. The rents are huge as is the demand. Wish I had more there. I agree with Scott… the mining companies aren't going to slow production while the demand and price is there. They might sell up and start producing solar panels…….ha ha.
Was on a Webinar earlier this week with a Sydney based buyers agency who were doing some work in the area. Returns and prices looked reasonable.
I saw a decent place today on an agent’s website, corner block, over 1000 m2, house position looked good for dual occupancy or subdivision potential as well. Priced below $400k. The deals are out there (still)
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