moura and blackwater could possibly head that way. then you have alpha, wandoan, miles and chinchilla
what towns do you think?It is important to understand the different types of coal/ supply & demand.
Coking coal is what does not fluctuate in demand therefore the most stable coal town in central qld is Middlemount, as it has one of the highest quality of coking coal in the world, it is not used for electricity. It is also locked into to fixed term contracts because it is so much in demand- it did not fluctuate throughout the Global Financial Crisis.
Most other coal towns are thermal coal–ie. all the hunter and most others like; BMA, Xtrata, westfarmers
You only have to go out there to see for your self that there is no way that Anglo-coal would have invested there and recently taken over another mine for over $200Mil, especially if there was even the slightest chance of mining ceasing in the area.On the other hand places like Alfa remains a huge gamble because its construction is only an agreement in principle and advertised and hyped up by an x realestate agent (Mr Clive Palmer).
Check out the vacancies in jobs sections- none in Alfa, yet 39 jobs today advertised in Middlemount with Anglo-coal.
wondering if the CSG industry will have a huge impact on prices in these towns?
hey Guys,
I have 2 investments in Moranbah, one for 4.5 yrs the other 4 yrs. No issued with tenancy up till now, 3 weeks vacant on 1st brought after original tenants moved out. 3 weeks is not a problem for after 4.5yrs full rent. 2nd home still has same tenant – company lease.
The problem is the agent !!!!! long story so heres the short version.
1. My monthly rental statements show the tenants being paid up as they should be.
2. rang the agency the week before tenants moved out to find out if they had stop paying rent etc ( as they can sometimes do in the last week or 2 before moving out ) to be told by the girl answering the phone that the rental arrears was to the tune of 2 months !!!
3. I know you are asking why didn't I notice the money not coming in? Well as the rents are big ( $760pw ) a missing $50 this week, $20 next week wasn't notice. The rental arrears goes back to April 2009 when they where 1 week behind!!! yep thats right.. more than 12 months in arrears with it increasing slowly over time.
4. Yep I BLEW up… no breech notices sent .. nothing… the principal agent still has not spoken to me to explain, but I do have emails. No explanation at all as to why the rental arrears was allowed to start let alone increase to 2 mths.
5. I have it in writing that the agency will make up the short fall – they know they are in breech of The Code Of Practise so its easier to pay me than me to go Fair Trading. Not that this will get them out of the problem as I intend to make it known my problem to other investors as I am sure if I hadnt asked I the question in the 1st place and gotten the right person who innocently answered my questions I would never have found out.Suggested solution for the future – I will be asking all my managing agents for a copy of the tenancy ledger say twice a year.
PS new managing agent lined up to take over as soon as the funds are clear in my bank this week !!!!You might want to watch this link
http://www.abc.net.au/landline/content/2010/s2894275.htm – play bottom is on the top left of screen
These companies spend billions of dollars to get these projects going and are not going anywhere in a hurry that's for sure!
Good luck with your search.
Cheers,
awesome isn’t it!
HI Everyone,
I use to live in Middlemount for 13 years and would have to agree that it is a really nice lovely town
I believe that Moranbah and also Blackwater have more available in terms of houses on the market,
I would def buy in blackwater. I have also breifly live in blackwater aswell, its a typical mining town, lots of work around, only 2.5 hours to rockhampton, theres a airport there etc woolies
cheap and exy homes, (mainly new house and land packages)
would def buy in mining towns
mel
looks like blackwater is going through a mini-boom at the moment!
The problem with Moranbah is the rent can drop dramatically and suddenly. The house I am currently living in was rented for $1200/week last, now my hubby's employer pays $600/week because we moved in during the gfc.
Its important to understand why the rent is so high-it's not because (as the opening statement said) families can pay $1000/week, but because mining companies will pay the rent. A few years ago the rent payed by BMA (major employer) was capped at about $700/wk. This basically meant rents in the area were capped at about $700/wk. Once BMA removed the cap the rents sky-rocketed. Currently BMA is trying to open a new mine in the area with 100% of the workforce being fly-in/fly-out. If this goes ahead, BMA may stop offering employees accomodation and rents will fall.
I've been looking at Chinchilla, with all the new gas and mining starting around here, does anyone live or looking to buy here and what are your thoughts?
Cheers
Rod
3 properties only available to rent in blackwater atm
I bought in Dysart 4 years ago. At the time the prices were a bit cheaper than Moranbah. Dysart is between Moranbah and Emerald in the coal mining basin and is serviced by Moranbah mainly. The rents went down with the GFC but they are on their way up again. Tip is to check out the management charges that the real estate charge. Moranbah Real Estate is fine but some agents furter away in Emerald and Mackay charge 12% management fee.
Blackwater has been going gangbusters recently, theres literally nothing available for rent during the past 2 months.
The next Moranbah for sure, especailly with the expansion of the CSG industry. Bow energy is building a power station there which will push rents and prcies even higher!coalstar wrote:Blackwater has been going gangbusters recently, theres literally nothing available for rent during the past 2 months.
The next Moranbah for sure, especailly with the expansion of the CSG industry. Bow energy is building a power station there which will push rents and prcies even higher!Do you people think Moranbah still has more growth in it? It is already up there.
I think Moranbah has flatened out and stay the same over the next couple of years. Blackwater seems to be the best performer this year with more upside as rents are rising rapidly. there is currently one property available for rent
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