To Mount or not to Mount Isa?

I’m no expert on Mt Isa however it seems whilst it is a good place to invest that alot of the really good investments up there are now gone. I said seems… there may still be some good CF+ properties available up there.

I would suggest visiting the place yourself as you will be able to ‘see’ that whilst it is a huge mining town.. it does have its problems.

Alot of the miners are flown in/out from Townsville as not everyone wants to live in Mt Isa (and since I have visited there once I can understand why… not much to do up there..not much at all).

Wishing everyone radiant health!
Vanessa

Hi Salacious,
Thought this might interest you https://www.propertyinvesting.com/forum/topic/23311.html

Don

djr

Dom,

Gotta agree with GoldCoastGirl – Vanessa hits the nail on the head. The gold in them there hills is being drawn, sure, but the properties on offer on the whole are housing for employees. The tirany of distance will always be a negative and you MUST understand the market you are trying to attract – or indeed the market that will force itself onto you.

Plenty of areas in Qld that will be easier to manage from your point of view and be quicker to flip.

Hi Salacious,
Some info for yourself and anyone else thinking of buying in Mount Isa, a 3 bedroom house in good condition is now renting for $280.00 – $300.00 a week, I know this because I keep in contact with my property manager.
Mount Isa City Council just sold first stage of housing block development $50,000-$90,000 each, i believe in one day, 2nd stage is looking good after 1st auction.

Houses for rent are in short supply, more units available for rent than houses, waiting times to find a tenant for a house is not long.

Hope this helps with your decision in investing in the town.

Cheers
Don

djr

Hello Salacious,

I live in Mount Isa and totally agree with your optimism for the town. at least for the next 5 years.

It is perhaps time that vanessa updated her information sources ,as Xstrata the major employer here has a strict residental policy. you want to work for them you live here. A policy which has really turned things around in terms of the feel of the place.

Supporting contractors however can fly their workers in from whereever they like.

Most people I come into contact with are genuinely enjoying living here, albeit usually for a short time, anywhere from 2-4 years especially among the professional staff. As a community there is plenty going on if you keep your ear to the ground. A daily (perhaps twice daily ) Qantas service to Brisbane is handy and is usually keeps any homesick cityslickers sane.

Lack of shopping facilities is the main complaint, lack of coast line the next one and thirdly concern for schooling and social direction for teenagers.

Cloncurry, I am not really up to date on, except to suggest that there is a hell of a lot of speculation in the real estate market due to suggestions of immenent action on the mining front. The projects closest to becoming a reality are over 80km from cloncurry and most workers won’t want to be travelling over 160km a day to work even if it is by bus. 12 hr day plus travel, I don’t think so.

cheers

rav