I just completed a road trip to Qld mining towns Moura, Blackwater & Moranbah. I found Moranbah to be one of the most exciting little townships buzzing with allot of new development. It was hard to believe that families could pay $1000-$1200pw rent for a new home. I heard about this town through spruikers and investment magazines but had to see it for myself.
Blackwater was also buzzing but not as expensive. Moura was like a coffin waiting to be buried. I was told some homes in Moura have been vacant for over 12 mths, ouch!
Just wondering if any property investors have purchased in these towns and if so what has been your experience with it? Also, if you have financed the property, which bank did you use as I am having problems with getting finance in these postcodes.