NAB chief economist says the previous two rate cuts didn't help the housing market, so he's dubious about the prospects of further rate cuts having a positive impact (what a fool).  He neglected to mention that the banks didn't pass on the previous cuts in full, and subsequently raised their rates independently of the reserve, thus stomping on…[Read more]

waydo77 wrote:
hey moxi10, did you go throiugh a buyers agent at all for the mackay property?

Hey waydoI did it the hands on way. Took a few days off work, flew up from the central coast NSW and hit the ground in Mackay. Pretty happy with what I ended up with. House now tenented at $700 p/wk.

  "Coincidentally" the latest advertising campaign by the mines against excessive government taxes adding to the oppressive burden of costs associated with operating mines in Australia resulted in full page ads in The Australian one page away from articles about Norwich Park being closed.  BHP Strategy…. leave some coal in the ground temp…[Read more]

Freckle wrote:

moxi10 wrote:
The explanation by the company that the mine has been loseing money for several months seems a bit thin under the circumstances.

Freckle wrote "Not really. Management at BHP aren't rocket scientists by any stretch of the imagination. Having worked as subby within their systems they're their own worst enemy."When…[Read more]

Hi Tiger14It was not my intention to imply that I thought safety was an issue in the closure of the mine, merely that it is an issue in the strikes, which i understand are affecting the operation of 7 BMA mines in the region. The miners feel strongly about the safety issues involved in the negotiations, which increases their solidarity in…[Read more]

 I just read the below article in the Mackay newspaper. In it the BHP spokesman mentions that the Norwich Park mine has "vast resources". At a time when several companies are planning to build their own export terminals, railroads and even towns in the Galilee Basin in order to access inferior grade coal, this closure seems to defy explanation. A…[Read more]

simple wrote:
Fascinating replies!On our last company BBQ, I have spoken with workers (over 50ppl). Two where selling, few where regretting that they purchased in the last 3-5 years. None are buying.So it would appear that only some specialty investors are out there doing some purchasing.Interesting times.

Seems to me  your survey has too n…[Read more]

  The statement by BHP that the mine had been losing money "for several months" is an inadequate justification for closing a mine in a region that has just gone through a wet season which included severe floods, When you also consider the fact that the strikes at BMA mines would have recently impacted negatively on bottom lines, a much longer t…[Read more]

Up to 1400 jobs (presumable including contractors) affected, according to this article. And yes, there are many more mines in the area, but bad news none the less. A BHP spokesman is quoted as having said the mine "has been loseing money for several months." Seems to have been a pretty quick decision, given that the strikes and recent weather…[Read more]

That's good news for you and other investors in Moranbah, CMS. BMA is not the only player in town, too much going on there and too little accomadation to go around. Rents are likely to drop as investors reconsider their positions, but at the previous levels, there should be a bit of lee way available for a reduction.  With your reasonable…[Read more]

Jamie M wrote:

simple wrote:
Who is buying in 2012 ?

Me. We just exchanged on a new PPOR in Canberra. The market here is presenting some good opportunities and the right property came up at the right price.I have plenty of investor clients who are still purchasing and quite a few clients upgrading. CheersJamie

Me too simple, as I said I…[Read more]

KeyStrategies wrote:

moxi10 wrote:
 Hi Mrs P ……………I personally would expect the rental demand to return to it's recent high levels in the near future, as there is no short term solution to the lack of supply in Moranbah, and I suspect that the combined efforts of the mines to hold back demand will have a limited impact in the near…[Read more]

mrs p wrote:
Interesting for sure but isn't it a mere question of supply and demand?  If the companies want the work done- their employees have to sleep somewhere-  Unless of course they can instantly create hundreds of new dwellings? Does it mean the companies know something we don't or is it just a case of construction phases of projects ar…[Read more]

Hi waydo 77  I think the following link is probably what you read about regarding comparative investment in Mackay and Gladstone. Note that the $107 billion mentioned is for the "Mackay- Isaac-Whitsunday Region". Not just Mackay. http://www.dailymercury.com.au/story/2012/02/03/investment-skyrockets/Also, I wrote a post on Feb 2nd  on thread titl…[Read more]

  I rented a house through LJH Muswellbrook. When they pre-dated a property inspection report two weeks after I moved in, they permanently lost any consideration I might have given them when deciding on my future property managers.

schmoo wrote:
I heard a rumour that prices have dropped by 30% in Moranbah and surrounding areas. Is this true? I'm about to sign on the dotted line for a place in Moranbah and reading this thread is making me think twice and looking more towards Mackay for coastal living and more diversity and growth, or Emerald as a more affordable option.…[Read more]

I can second Lalibella's opinion of Boyle's (The Professionals). They manage 2 properties for me, and I'm happy with them. They are the second manager I've employed there. Premium proved to be disappointing.

Today's news in Emerald http://www.cqnews.com.au/story/2012/03/02/families-miss-out-families-priced-out-of-rising-re/

Hi SamNeutral and cash flow positive properties are more frequently available in regional areas, particularly in towns benefiting from the resource industry. The Hunter Valley in NSW and the Surat and Bowen Basins in Qld are prime examples. Also some of the port cities such as Mackay and Gladstone offer excellent opportunities for a combination of…[Read more]

Hi nurse1 It might help you to know that you can expect to pay roughly $550 upwards per unit to install split systems, depending on where your unit is. Any extra degree of difficulty will increase the price.  But missing out on all the rent you have already, the main thing is to get them installed quickly and get tenents in.