Hi All
I posted a topic about 10 days ago re Kambalda Properties. I asked whether anyone knew anything about the town. I have done some digging and actually have just returned from a site visit. Two big expansions are happening there at present. Goldfields Gold are employing people at a huge rate. Consolidated Minerals advertised in Saturdays West Australian Newspaper for lots of people (pg 136). The talk around town (may just be rumours…) is that by the end of the year (2006) between 300-400 jobs will be created?? I can’t confirm this but who knows….? In a town of only 1200 houses there is only about 60 vacant rentals and most of those are in need of a good paint and brush up. Neat housing is already tightening dramatically. This is what happened to Newman 12 months ago. Now you can’t buy in Newman..try it. ( I thought about it but hesitated!!).
I have invested in Kambalda though and judging by the amount of investors sniffing over there currently I am not the only one.
Check it out on http://www.realestate.com.au
Mikey P
I am not endorsing this idea as I am not qualified to. Please do your own research.It’s commodity rush fever over here in WA and its driving a lot more than the housing sector.
4 out of this weeks 5 IPO’s are for Gold Explores with more to certainly follow. The price of gold itself is at records highs as is most other material that can be dug up from the ground and sold to the emergin markets of asia.
I guess one thing to consider is sustainability and whether the commodity boom will keep going. If not, and mines shut downs so people loose jobs and head back to the city for work it might get a little unstuck in the IP market
But who knows which way it will go – you put 9 economists in a room 3 will say up 3 will stay steady and 3 will say decline.
Kambalda might just be the next gold mine waiting to be mined.
Just food for thought.
It’s commodity rush fever over here in WA and its driving a lot more than the housing sector.
4 out of this weeks 5 IPO’s are for Gold Explores with more to certainly follow. The price of gold itself is at records highs as is most other material that can be dug up from the ground and sold to the emergin markets of asia.
I guess one thing to consider is sustainability and whether the commodity boom will keep going. If not, and mines shut downs so people loose jobs and head back to the city for work it might get a little unstuck in the IP market
But who knows which way it will go – you put 9 economists in a room 3 will say up 3 will stay steady and 3 will say decline.
Kambalda might just be the next gold mine waiting to be mined.
Just food for thought.
This is really good for those towns in the middle of nowhere, people from the cities buying there and paying IP stamp duties to help revive a bit those towns.
Unfortunaly, commodity booms do not last for ever and investments on those towns will be a trap for the future. I guess you will have to find 2 or 3 ghost that can move in for future rents.
Clones
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The net result is not so much lies, damn lies and statistics but rather vendor dreaming, buyer wishing and agent glossing.Thanks for your comments.
There’s no doubt that Mining towns are a risk. The history of some areas show this.
Kambalda is only 56 KMs from Kalgoorlie and about 3 hours drive north of Esperance and the presence of both Nickel and Gold as well as the close proxi to regional capital centres may keep the living renting there for qiute some time yet. The Goldfields WA is a great place to earn huge $$$$’s whilst working…………..investing…… time will tell! Traditionally Kambalda/Kalgoorlie has remained “fairly” constant. Maybe the risk is not that big?? The expansions are starting there as we read and post…capital growth may follow…….?
I am not endorsing Kambalda please do your own research.
Mikey
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