Just looked up "Moranbah" on realestate.com. $350K+ for a house I wouldn't buy there either! $150k in a mining town is my limit! Cheers Mikey P
Looks like you won't be buying soon in any viable mining towns, you will be lucky to find a bit of land for 150k
When considering mining areas you need to look at the life of the mine , how long they estimate the coal mining will continue on that area. Mines usually have a set life life expectancy example 25 yrs, 15,50 ect There is not much point buying into an area that is ending that time, unless a new mine is about to start or existing mines have discovered more.
There are calls for the Queensland Government to step in as the population and housing prices in Moranbah continue to rise with the mining boom
The manager of the Emergency and Long-Term Accommodation Service, Kel McKenzie, says house prices have jumped by 600 per cent over the past five years and the population has doubled to about 9,000 permanent and transient residents. Ms McKenzie says many homes are out of reach for average earners. "About five or six years ago you could pick up a house between $50,000 to $60,000, now they average between $300,000 to $400,000, which has then led to an increase in rents," she said. "Rents are now up around the $400 to $600 per week mark, there's only four properties to rent at the moment in Moranbah."
The Bowen Basin is already looking forward to 55 new coal mining projects, with 33 of those in the Mackay district. Only three of those are expansions: Kestrel, Carborough Downs and Isaac Plains. Some are still waiting on government approval.
A hint do not count to much on you tradie friends , sure they will help but when they have the time and feel like helping. I once constructed two houses in this fashion and it took over 2yrs to fully complete… The problem is you cannot get other tradies in to complete your pals work as they want to triple charge you or simply don't want to know about it. When it comes to sparky work you will have no hope of finding some one to complete the unfinished work with out signing a stat deck to release them of any problems. And once again they will rob you blind.
If you plan to re-sell do not bother with the pool there are far to many negatives vs positives when it comes to selling with a pool.
Go with the owner builder option. You can obtain an external course that you can do at home in your own time to obtain an Owner builders ticket. As stated only good for every six years unless you can prove there is legit reason to do a second property.
Obtaining a builders license is not that simple, you need trade tickets on top of tickets with a long proven background.
Crude oil prices rallied near this week's sky-high records on Friday on concerns that global output will not satisfy rising demand and speculation on the back of a weak US dollar. New York's main oil futures contract, light sweet crude for July delivery, rose $US1.38 to close at $US132.19 a barrel, shy of its record close at $US133.17 reached on Wednesday. It struck an intraday peak of $US133.71. In London, Brent North Sea crude for July delivery hit a high of $US133.74 then settled at $US131.57 a barrel, up $US1.06. On Thursday, Brent struck an all-time high of $US135.14 and New York crude reached a record $US135.09, before both contracts plunged as investors banked profits. The two benchmark contracts have climbed more than six in a week.
Oil at $US150 a barrel is now just a few weeks' trading away, With supply struggling to meet demand, oil at $US300 per barrel is not inconceivable on a five-year horizon,
With this sort of pressure I'm sure Chalco will be pushing harder for the Shale Oil mine in Proserpine QLD
The Bowen Basin is already looking forward to 55 new coal mining projects, with 33 of those in the Mackay district. Only three of those are expansions: Kestrel, Carborough Downs and Isaac Plains. Some are still waiting on government approval.
An interesting read by all , so many conflicting stories I hear about this issue lately.
Opportunity #2: Housing Affordability Fund
The government announced $500m over five years to reduce the cost of providing new housing by cutting red tape and improving infrastructure.
Unfortunately, I smell a serious waste of money in unnecessary studies and reports, as the underlying problem is with local council planning regulations rather than with State or Federal governments. Let's see what happens though.
I'd have to agree with the above comments , burning of funds for BS studies. One study after the next followed by a study on a study …. what next!
Sorry for the slow response I've been busy working away and don't often get around to dropping in here. I tend to find myself answering questions / helping out over at http://www.reao.com.au .
Yes I understand your frustration when it comes ot wrong info , often supplied by such groups like like councils..grrr Not trying to put a downer on your project but I'd really want some thing in writting when it comes to dealing with council. They are well known for denying what has been said and you later find they are stating if it's not in writting you have no proof.
beamseeker, the prices in Nebo sky rocketed about 3yrs ago and from what I noticed nothing is really selling. My best mate moved out to Nebo and works in one of the mines and and has been trying to sell his property for the last 2yrs but I'm told nothing is moving. Plus he wants far to much..lol From my understand a large number of houses were built in the area originally as some sort of a deal with mines and council to help the place improve and draw others to the area. I know some of these houses are only lived in for 3 nights per week as they return back to Mackay.
As Daedalus said Nebo is to close to Mackay and I feel it's not viable, look more towards Dysart and Moranbah
As your are coming down the Golden mile into Town just past the concrete plant on left there is a big land development going on. The site is fully fenced with temp fencing sheeted with a new colorbond fence running full length down one side.
As for the FSBO I'm told agents are not willing to visit and the vendor is doing all the work for the agent anyway and still being slugged big fees. So I'd say why bother paying agent when you are doing all the work…that would be stupid..lol
" Thiess is my tenant in Dysart (or an employee thereof). Looks like I might be able to negotiate a good increase at the next lease renewal…"
YES INCREASE THE RENT..LOL! Thiess are desperate for accomodation and they would not dare put their "High ranked staff " in the Mac camp. They informed me they had 250 men starting and had 6 rooms to share..lol I'm guessing you have Clint the forman of earth works staying there? If so tell him he still owes my men some cartons of beer for finding his stolen generator down the beef road! Oh yeh and he still owes for all those bags of cement he claimed he would re-pay back to our shipping container.
Sorry not much help for you in Blackwater, I helped construct the South Blackwater mine some years ago but have lost touch with the area. I have two good pals working out there but they lack interest/knowledge in this area.
Mackay is over priced, I have 2 remaining IPs in Mackay and getting out but I purchased years ago when prices were at a reasonable rate. I'd wait until the silly season is over, or look in other areas north .