“Investment boost tipped for city”
“The Rockhampton region should prepare for hundreds of millions of dollars of investment and development from the $3.2 billion aluminium smelter planned for Gladstone.”So for all those who’ve bought in Rocky, I’d be expecting good things to come…
Cheers
rHi Richmond[
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My brotherinlaw is the consultant for this project.About a year ago we had a talk about accomodation for this project.
Acommodation was required for 3000 workers,the downside is that only 1000-1500 were to be retained after the construction period of 18 months.
I felt that this would create a surplus and that values may fall after that period,and as such did not reccomend it as an investment strategy.Regards
Bryce Inglis
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http://www.ipal.com.auTo all of you to whom we have offered our services to in Rocky what have we been telling you for the last 6 months.
Cheers Richard
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http://www.fhog.com.auThere is no such thing as a problem.
Just a solution waiting to be foundRichard Taylor | Australia's leading private lender
The prices in Rocky have only caught up with most of the other coastal towns in Qld. I have had a bit to do with Rocky over a number of years and have seen the effects of the closure of the meat works etc. There had been bargains but they had been.
bribie
Only 1,000-1,500 out of 3,000 having full time employment from this project. What does such a number really mean?
Using the ABS figures for the last census, 18.5% of employment in the local Gladstone area is in Manufacture. It is generally considered that most other employment, particularly in areas such as Gladstone, is provided by the manufacturing base. IE All construction, eduction, retail etc jobs either directly or indirectly sevice manufacturing and it’s employees.
This means that the 1000 long term jobs will actually provide another 4000 service jobs or a total of 5000 extra jobs in the region.
45% of the total population in Gladstone is employed. If this level is maintained these 5000 jobs actually represent 11,000 people.
The mean household size for Gladstone is 2.7 people per dwelling. 11,000 people represents a need for an extra 4000 dwellings.
Given that there are currently 9800 dwellings in Gladstone, you are looking at a potential long term increase in the number of properties required of over 40%.
If you want to be really conservative, halve this number or even quater it, and it still represents a potential growth in the area of 10-20%.
Suggesting that this is a bad investment because only 1000 long term jobs will be created does not seem to make sense to me.
If you’re worried, wait till the construction phase of the project is finished, when there will possibly be a short term glut in the market, and invest then.
Of course other factors need to be taken into account. When/will the smelter actually go ahead? How much growth will this have in Rocky itself? How long will it take for all this growth to actually take place? Do you want to invest in an area that will be heavilly reliant on just one employer?
If anyone has any details for reasons not to invest in the region, I’d certainly be interested in hearing them.
Dino
“If you don’t know where you are going, every road will take you there.”
Dino i live in Gladstone and have worked in construction for the last 15 years.I would have to agree with you about the probability of a short term glut on the market at the end of the construction phase.As for the effect of Aldoga being built on Rockhampton i fail to see how it will affect prices there at all as it is a good 1.5 hours drive from Gladstone people up here think their throats have been cut if they have to travel 20 minutes to work let alone 1.5 hrs . Also Aldoga is still no guarantee to go ahead i drive past the site regularly and very little work is actually happening there it would’t surprise me if it becomes another AMC.However i still wouldn’t write Rockhampton off as a place to invest I just wouldn’t be counting on Aldoga having any sort of an impact on prices there.Regards Beanie
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