Kambalda

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salacious
Member
@salacious
Join Date: 2003
Post Count: 373
August 2, 2007 - 8:29 am
Hi,
I am interested to know if anyone has invested in this area and what type of gains has been achieved. I beleive it is undervalued as a mining town (Compared to say mount Isa qld) because it seems to have limited accommodation and low rent imo.It has several mining projects and a new gold discovery a couple of months ago by ramelious. Some of the stories i have read on with other mining towns where rent is $1600 a week and the property value is up in th $700s makes me think that it would only need to raise a few percent over the next twelve months to show a good gain.But this is speculative on my behalf so check it out thoroughly for yourself
http://www.theajmonline.com/informao…288&seqnum=308
Dom
Mikey P
Participant
@mikey-p
Join Date: 2006
Post Count: 86
August 3, 2007 - 2:47 am
Dom
Take a look at the previous posts i have done on Kambalda.
A new development in Kambalda that's only 48 hours old is that there is 450 new people coming into town in 5 weeks or so. The plan was to put around 400 donga types around town. This was passed by shire…..check the Coolgardie shire minutes from June. They expect 10% (45 families) to go residential, there is only 10 or so rentals left currently and only 20 or so houses for sale. This alone will put huge pressure on the housing market. HOWEVER!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Western power is now saying the grid is not big enough to cope with the new $17m rec centre and the extra rooms creating a Bethlehem situation. I have been investing there for 2 years and have made millions. This next wave should be the biggest. Check it out. This place just keeps getting better and better. Kangaroo Island is just as good.
I am investing in Kambalda and Kangaroo Island I am certainly not endorsing the above places do your own research……..
"The saddest words of tonuge or pen ar it might have been"
Regards
Mikey
salacious
Member
@salacious
Join Date: 2003
Post Count: 373
August 3, 2007 - 9:19 pm
Hi Mikey,
Congratulations on your succses i am about to make an offer on a 3 bedroom brick house in kambalda west.Hopefully if your details are right on the area we should see some great catching up gains.Again its always a risk to buy in remote places but with the future in rescources i can not see it going backwards. i am only buying one at the moment and will watch this market closley.
Good luck
Dom