[DessyrayMember@dessyrayJoin Date: 2009Post Count: 3]

October 24, 2009 - 2:41 am

mummyto3 wrote:

Hi Everyone,

Like a few other comments I have seen I'd also like also like to say how valuable I have found this forum! and how much I appreciate people taking the time to contribute, thanks very much

I was also hoping to continue this thread about investing in the bowen basin. We're hoping to diversify our portfolio a bit and are particularly interested in Dysart. I'm not all that keen on Moranbah from what I've seen of the market and also the possibilty of the airport upgrade BUT the possibility of BMA building accommodation in Dysart also makes me a bit hesitant. So I just wanted to see how people were feeling since the last post? are everyones rental properties tenanted? have there been any more job losses? would you feel nervous purchasing a property without an exisiting rental agreement? and what kind of property do you think would be the best purchase? I was thinking of highset with a covered entertainment area, 3+beds, good bathroom, fenced and maybe a shed?

Thats probably enough questions for now, I was particularly hoping to hear from Dessyray???

thanks in advance!!!

Hi mommyto3

just let me know your email and we can talk privately if you like..I haven't been on for some time and get busy so private emailing would work better for me…Lots of interesting things are happening in dysart at the moment that all points to another boom.. Look forward to chatting to you

[DessyrayMember@dessyrayJoin Date: 2009Post Count: 3]

March 7, 2009 - 11:33 am

Hi everyone,

BMA have set a ceiling of $1100 per week that they will pay for a house on behalf of their permanent employee's and this has only been a recent thing they have done.  The house we just bought which our tennant goes in starting next week is rented for $1100 per week by BMA.  The deal is this…. BMA will not find their employees a house, the employee has to go to BMA with a house they want to rent and if it is up to BMA's standard they will take a lease over that property either for one year and if you are lucky two.  This has to go through the local real estate 'Vision'….. I know this because I personally spoke to them offering our house and that is what they told  me… It was easy for us to find someone to rent our house as we work at Saraji and our tennant is in the 80's on the list so hopefully he will be in it for some years…

I can tell you this there is around 80 employees waiting for BMA accommodation at Saraji mine alone , I cannot tell you the number at Norwich Park unfortunately… Now BMA have committed to build about 30 per year for the next 3 years is my understanding.  Of these 30 half are for each mine.  Now with those numbers rentals by BMA employees will still be needed for some time to come….

The Voluntary Redundancies have now closed and employees will be notified soon if their application was successful.  Remember they only want a very small number of employees to go.. There is quite a few of the older men wanting to take the VR as they are a year or two off retiring anyway and with the incentives to take the VR money wise, honestly they are mad not to take it if they can get it.   Yes some of them will own their house here, some no doubt will sell and others will rent.  These are men with alot of expertise and they will need replacing and they will be replaced as soon as everything settles down… The positive aspect with Dysart unlike Moranbah is that the council  has not made any provisions for releasing land to the public.  A local land owner was in the process of subdiving alot of land into acre lots but as far as I know this is not going ahead.  Without this happening it keeps prices high as demand is much greater that what is available.  All the vacant land in Dysart was sold years ago and has been built on.  Hope this is of help..

Honestly who knows what will happpen but if you don't have a go you will never know!  can't take it to the grave with you hey..

[DessyrayMember@dessyrayJoin Date: 2009Post Count: 3]

February 21, 2009 - 5:06 am

Hi everyone, I have read all the past posts and it is interesting to hear everyone thoughts.  I live in Dysart and have been a resident since Saraji Mine was originally built.  My husband works at Saraji as does my brother and brother in-law.  We own our house here and have just bought another which has just been rented to BMA for $1100 per week for 1 year.  Our tennant is an employee of the mines.  My brother is waiting for a BMA house to rent and is in a private rental, rented by BMA for him unitl BMA house is available or built for him.  We know of a recent person employed permanently who got told he is 80th waiting for a house.  With those numbers waiting for a BMA house at one mine alone the rental market looks good to me.  Remember only small number of permanent employees are being put off, and of those the mines are asking for people to put their hands up for voluntary redundancies.  

If anyone has any questions I will try to answer them.  everything is still bustling here and so far very little has changed.. I too have noticed more houses on the market quite a few I have noticed are Housing Commission houses which are the ones sellling for $369000 or a bit above with nothing done to them..Some of the houses in the higher price bracket are taking longer to sell due to people being greedy and  the uncertainy in the area.  As for people selling because of herd mentality there maybe a few but being a small town i know of alot of houses up for sale as people have retired and moved on, nothing to do with the economic climate. 

We have just had Eagle boy pizza shop open and the council is currently puting new permanent shade structures in all the parks as well as extending cemented foot paths all around the town.

The media has a lot to answer for with all the hype and it is hard to not get caught up with all the negativity but it is human nature to stress about things we feel are out of our control.  There is enough coal here to see my children's retirement out and maybe their grandchildren.  Both the Lake vermont and Mac camps seem to be full and there are still contractors work cars everywhere.
I don';t have a crystal ball (good if i did) but even in rents dropped to between $600 and $800 a week properties are still positively geared.  

We owned 2 properties here 8 years ago when the town was half full one we rented and the other we lived in.  Our rental never went a week not rented, remember their are many people especially the younger ones or those not in the mines wanting accomodation that just cannot afford to pay the high rent prices.  So we are not worried about whether it will be rented or not and as for the prices of house going back down to the $40000 and $70000 we paid 8 years agos the growing world would have to have a major slowdown in development and i personally don't think that is going to happen.. Yes growth in China, india and other developing countries has slowed but probably back to a more sustainable percentage. 

Happy investing
Dessyray