how long does it take for a mining town to boom

Hi Coutts,

This sort of thing takes time (and spruiking).

Generally speaking a market will stay flat until people start talking about it, magazines, other investors etc. Then as interest grows it will attract spruikers who will buy up property, then talk it up. Then as the market gets hotter, mum and dads will come in, often buying at top dollar. Then the market will find itself in an unsustainable place dollar wise and prices will come down, either due to over supply, or cap on rent prices by mining companies etc.

This sort of 'hotspotting' is investing based on chance. You take a chance because the housing is reliant on organic growth and there is really nothing that you can do to make it more valuable.

If the town has strong fundamentals, other employment, infrastructure schools hospitals etc, you can sit back for how ever long it takes, and in property 2-3 months isn't long.

Have you already bought? Maybe have a think about what else you can do with your money, or if you have bought.. wait……?

Cheers

D