Definitely do not panic, lol. There are several other mines surrounding Dysart, but if you did proper due diligence prior to buying you would already know this. It will definitely see a drop in demand with an increase in available properties, but this is a primary example of the risks involved with investing in mining towns.

Good luck to those who have already invested in Dysart, I for one will be watching with interest what affect this mine closure has on property in the area.

Hi Wendy,

I have been living in Rockhampton for about a year now after moving down from Mackay. To be totally honest at this point in time I think you are much better investing in a house in rocky. From what research I have done there doesn’t seem to be the same quantity of units in rocky as there are in other similar sized cities, in comparison with mackay for example.

Depending on your budget, you can get some very good houses around the $300k mark which with a bit of cosmetic work will get you a rental return of around $400/week. My preference suburb wise is the range, Allentown and wandal on the south side. These suburbs are close to the two grammar schools, three hospitals, two smaller size shopping centres and the centre of town.

In my opinion the north side of town is overrated, Norman gardens and frenchville are the areas to pick from on that side but at peak hour it can take half an hour to get from the north side to the south side. To urban folk this may sound like heaven, but when you live in a regional centre, if anywhere in the same town takes any longer than thirty minutes to get to it better be worth it.

The central qld uni campus is on the north side which may make glenmore and park avenue worth a look.

If you have your heart set on a unit my personal opinion would be to stay away from the forty unit complexes, you can pick up a 2*2 duplex in the $300-$350k range which with a little spruce up you could stretch to rent each side for $200/week+ depending on condition and location.

There was a good article on Rockhampton in the most recent API Magazine, there were a few little truths stretched but overall it was good article. Rental demand is starting to increase in rocky due to Gladstone demand exceeding supply, the overflow is forcing people to reside in rocky and commute to Gladstone. I have spoken to a couple of reputable local RE agents recently who expect capital growth to kick start in the second half of 2012. Not an astonishing prediction but just confirmation that there are good signs ahead for rocky.

I was born and bred in mackay which has seen an enormous amount of growth and development in the last ten years, rocky actually reminds me of mackay ten years ago. There is a large industrial development planned for gracemere which is about ten minutes west of rocky, about half a dozen new estates opened up out there but beware, mass produced housing with mediocre finishing and mirror imaged housing not just down the same street but throughout an entire estate. I rented in gracemere prior to moving into rocky and I estimated that 90% of the houses were rentals.

Wow, was only going to write a quick reply. Happy to answer any further queries if you have any.

What annoys me is MP’s are supposed to be elected as a representative of the people in their electorate, which seems to be overwhelming support for KRudd, but as we have seen in the media some MP’s have stated that despite their electorate favouring KR they are going to vote for Julia.

Can any modern politicians even spell the word integrity?

I’m studying Business at Uni and have done a few HR subjects which always have an element of leadership in the curriculum, not once do they ever use politics as an example, coincidence?

I think not!

Robbie,

I think after the move to the Pilbara with the multitude of opportunity surrounding you I would be asking myself how attached am I to my current career? You don’t have to be in mining forever, but 10-20 years work, smart with money, educate yourself on not only what to invest in but how to create momentum in your investing so you don’t need a syndicate. The option is there if you want to pursue it.

In saying that though, money is definitely not everything and certainly won’t buy you happiness, so if you’re career really is all that, all the best! A syndicate may help you get in quicker, but like any partnership situation, if one person has a change of direction things can get complicated.

So Nat,

how did it go? Was it a learning experience

Hi Josh,
brilliant thread mate.

Here’s a link to some info regarding development of the Galilee basin and what infrastructure plans are on the horizon, hope some may find it useful in their decision making.

http://www.qrnational.com.au/MediaCentre/MediaReleases/Documents/QRN%20Galilee.pdf

Looks like good signs for Mackay, Emerald, Alpha, Bowen and some surrounding areas.

I have recently moved to Rockhampton after living in Mackay my whole life.  My personal opinion would be to stay on the South side of town, there are some new estates growing rapidly in and around Ooralea.  Brand new shopping complex currently being finished which contains Woolworths, close proximity to indsutrial sector in Mackay and adjacent to Peak Downs highway which runs west to the Bowen Basin mines.  I think the growth in Mackay will be steady.  I don't think there are too many opportunities to invest under $500k for 4×2 H&L though.

Gladstone is growing very very quickly, I think there is another couple of threads on here pertaining specifically to it, but I think getting into Gladstone now will see better returns in both rental and capital compared to Mackay.

Thanks Derek,

I thought, hoped and assumed as much. The plan is for the PPOR to be an IP in 5 years, by which time I would estimate it would be positive and worth the tax advantage of being owned by the trust.

I agree MAQ.  Stage 1 of the boom in Gladstone may be over, but stage 2 and 3 are on the way over the course of the next 5 years.

1 Key event in stage 2 will be the construction and operation of Wiggins Island Export Terminal which will be servicing the Surat Basin.  Agreed that during the construction phase population peaks, but the operational staff will still be there in significant numbers.
Purely my perception and opinion but I see Gladstone evolving in similar fashion to Mackay, the initial expansion relates directly to mining but after that hundreds od small businesses open up providing support to mining from a coastal base.

I could be wrong, as I have been many times before, good thing is I keep learning.