All Topics / Help Needed! / QLD mining regions (Bowen & Surat Basins & Gladstone): Willing to help anyone with questions

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  • Profile photo of emptyvesselemptyvessel
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    KevinR wrote:
    The expansion of the current mine sites, relocation of camp staff from a nearby mine site and the general lack of accom in the town are the main reasons, nearby power station and other govt/private projects underway are also factors I am interested to see what conclusions people have drawn on Collinsville, have others invested there etc Thanks Kev

    A recent work colleague quit his very high paying sales job to do large developments in the Bowen Basin. I spoke to him at length and he is extremely bullish on Collinsville. Bought up some parcels of land. One parcel, apparently running alongside a (the?) golf course he is developing into 20-30 studio apartments fully decked out with all modcons. High-speed internet, large screen tv's, nice furnishings etc etc. On another couple of blocks he moved old houses onto, doing small scale renos and renting. Could be finished, not sure on the latest.

    High-risk stuff, to be sure. Too high-risk for me right now, but darn it, I know he is gonna make a motsa. And I can't help but wonder what I might be missing out on. Hmmm, think I will give him a call.

    I know very little about Collinsville myself. Except Coal, lots of it, in the middle of nowhere. Looks like rocks and dust on a map to me right now.

    Profile photo of trickeymickeytrickeymickey
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    I'm sure those of you following this thread would have seen this about Australia's biggest coal mine… http://www.news.com.au/business/miner-mapping-out-new-outback-town/story-e6frfm1i-1226270256096
    Adani's plans are in the initial statement advice http://www.deedi.qld.gov.au/cg/resources/project/carmichael/initial-advice-statement.pdf
    The production of this mine will be massive. Any thoughts on how we can benefit from an investment point of view? I have been looking at Bowen real estate but have noticed a huge amount of land for sale. If you know the layout of Bowen, you'll know there is a lot of space around that is being developed and I'm wondering what that will do for supply and demand.

    Profile photo of moxi10moxi10
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    There is a new twist to the FIFO approach by the mining companies, with several companies, Adani in particular, pushing for approvals to FIFO overseas mine workers. Clearly not a plan which would be beneficial to Australia, and local mining communities in particular. http://www.cqnews.com.au/story/2012/02/15/extreme-fifo-plan-strikes-fear-in-region/ So Adani want to fly in their workers to rip out the Australian coal, put the coal on their trains on their railroad, load it on their ships at their terminals and send it all to their power plants in their country. And so if we don't have a pathetic little watered down mineral resource rent tax, just what is their in this plan for Australia?

    Profile photo of JT7JT7
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    moxi10 wrote:
    There is a new twist to the FIFO approach by the mining companies, with several companies, Adani in particular, pushing for approvals to FIFO overseas mine workers. Clearly not a plan which would be beneficial to Australia, and local mining communities in particular. http://www.cqnews.com.au/story/2012/02/15/extreme-fifo-plan-strikes-fear-in-region/ So Adani want to fly in their workers to rip out the Australian coal, put the coal on their trains on their railroad, load it on their ships at their terminals and send it all to their power plants in their country. And so if we don't have a pathetic little watered down mineral resource rent tax, just what is their in this plan for Australia?

    Well it appears we certainly can’t rely on the Federal Government to look after our best interests! They’re busy selling all our arable land to the Chinese to secure future food security in China! It’s hard to imagine 747’s packed full of Indian nations working on Australian soil! Or is it!…..it’s reasonable to suggest that after buying the mines, rail and ports this would be the next step.

    Well worth considering when developing your investing strategy. I’m a big believer in investing in regional hubs when it comes to a mining play. Towns like Emerald, Mackay, Gladstone, Toowoomba and Muswellbrook which service a number of mines and are home to the supporting industry would help mitigate against these types of FIFO arrangements.

    Jack

    Profile photo of moxi10moxi10
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     Surely no one in their right mind could seriously consider allowing FIFO workers from another country to come in enmass to mine here? Unless there are some very enticing political and personal payoffs. I agree though, Jack, with proposals such as this floating around we need to be careful about where we invest. The Gallilee Basin will certainly bring huge profits to some investors in the right places, but with uncertainty comes high risk.

    Profile photo of JT7JT7
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    Yep agree Tony.

    I think we’ll see investor targeted property developments pop up around Alpha offering some pretty tempting returns.

    Higher risk higher returns. Be a case of time in time out perhaps but again it depends on what happens with this new FIFO development.

    I’ll stick with those regional hubs me thinks!

    Profile photo of SethBillSethBill
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    Just check this morning from realestate.com.au that Blackwater 3 bedrooms house now cost about $600,000. I think it was up by $100,000 in the past 6 months. Can anyone make suggestion as to why Blackwater price went up so quickly? I think most of people in this post predicting it should be emerald in a hot seat instead of other mining town.

    Cheers,
    Bill

    Profile photo of Josh AthertonJosh Atherton
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    SethBill wrote:
    Just check this morning from realestate.com.au that Blackwater 3 bedrooms house now cost about $600,000. I think it was up by $100,000 in the past 6 months. Can anyone make suggestion as to why Blackwater price went up so quickly? I think most of people in this post predicting it should be emerald in a hot seat instead of other mining town.

    Cheers,
    Bill

    Hi Bill,

    If you look property for property you would find that the increase has not been 20% +. A lot of discussion on this thread has been about investing in the mining “hubs” which offer diversity and risk mitigation in many senses. I didn’t think anyone was against growth in the towns like Blackwater, in fact, quite the opposite. We have had a good mixture of people with all different views and experiences helping people find different areas with different dynamics for investing. Hence a lot of talk on Emerald. All these mining regions have and will continue to see growth, it is just a matter of finding the right area for each person and their portfolio.

    Profile photo of AdrianThompsonAdrianThompson
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    whats hapening in Moranbah/Dysart? i have 1 property in D and looking to buy in M, i took a call from my property manager today saying "something's strange, there seems to be an over supply". she is out in MacKay so doesnt manage a lot of props out in the dysart/moranbah townships. are people feeling the squeeze?

    Profile photo of Aviator77Aviator77
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    Adrian,

    As far as I can tell after speaking to some local real estate agents in Moranbah, a lot of locals are cashing in now and selling and moving to Mackay. I am in the market to buy in both Moranbah and Mackay (if I can afford both) and I am finding the prices are going up substantially in both still but especially Mackay. I was told a lot of this (outside of its natural drivers due to the 2 major ports and servicing the entire northern Bowen Basin hub) is because of this migration from the residents in Moranbah, Dysart and other smaller mining towns.
    I am still convinced that Moranbah and Mackay are still good investments for the short to medium term and Mackay/Emerald in the medium to long term. Has anyone had a look at property in Emerald of late? Its almost impossible to get any decent investments there. Its like the demand has outstripped the supply and they are not producing enough residential housing to accommodate this demand.
    Your thoughts on this situation Josh?

    Profile photo of JT7JT7
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    Aviator77 wrote:
    Has anyone had a look at property in Emerald of late? Its almost impossible to get any decent investments there. Its like the demand has outstripped the supply and they are not producing enough residential housing to accommodate this demand.
    Your thoughts on this situation Josh?

    Yep its really starting to ramp up in Emerald. You’re right about the tight demand to supply ratio. Rents are rising fast and CG is coming on.

    Profile photo of moxi10moxi10
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    Profile photo of adzleaadzlea
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    mattnz
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    Moranbah is a market where there is an extreme shortage of housing. How does rent capping encourage the desparately needed investment in housing?? Who would build a negatively geared house that could never achieve market rent?

    Talking to people in the know in major mining companies there, the key issue is how slow the government agencies are to approve more accommodation that is so desperately required.

    mattnz
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    I should also add that the comments at the bottom of the page are extremely amusing and clearly reflect the level of understanding of the readers.

    “First of all progressively inhibit or totally remove the ability to negative gear property investments beyond the primary residence of the owner. Why should every other taxpayer be subsidising some big-time investor to own 35 houses in Dysart, when at the very least a more desirable outcome should exist to favour 35 owner-occupiers whether they be in Dysart or Timbuktoo….”

    Yes those negatively geared 14%+ yield houses in Dysart must be costing the taxpayer a fortune in taxes every year… lol!!

    Profile photo of trickeymickeytrickeymickey
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    Aviator77 wrote:
    Has anyone had a look at property in Emerald of late? Its almost impossible to get any decent investments there. Its like the demand has outstripped the supply and they are not producing enough residential housing to accommodate this demand. Your thoughts on this situation Josh?

    I have just got finance approved for a unit in Emerald at Hillcrest Villas, one of 26 units that have just started construction at Riverview estate which I purchased through Josh. The next stage of Mayfair Ridge, (Stage 7), is also selling but apart from these, there's not a lot coming up for Emerald, which is why the market is so tight and why I chose Emerald over other areas.

    Going back a few pages, there were posts about finance approval at high rates of LVR in mining areas….DO NOT USE SUNCORP,  as my application was denied due to LVR being over 80%. I ended up having to purchase the unit for an extra $5000 after the finance date lapsed because Suncorp was too slow and I didn't have enough time to apply for finance elsewhere. Since Suncorp cost me $5000, I have lodged an official complaint with them, so do not use them for both reasons of inefficiency and LVR.

    I can't wait for the unit to be completed so I can see what the market does in the next 6 months,

    Profile photo of JT7JT7
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    trickeymickey wrote:
    Aviator77 wrote:
    Has anyone had a look at property in Emerald of late? Its almost impossible to get any decent investments there. Its like the demand has outstripped the supply and they are not producing enough residential housing to accommodate this demand. Your thoughts on this situation Josh?

    I have just got finance approved for a unit in Emerald at Hillcrest Villas, one of 26 units that have just started construction at Riverview estate which I purchased through Josh. The next stage of Mayfair Ridge, (Stage 7), is also selling but apart from these, there's not a lot coming up for Emerald, which is why the market is so tight and why I chose Emerald over other areas.

    Going back a few pages, there were posts about finance approval at high rates of LVR in mining areas….DO NOT USE SUNCORP,  as my application was denied due to LVR being over 80%. I ended up having to purchase the unit for an extra $5000 after the finance date lapsed because Suncorp was too slow and I didn't have enough time to apply for finance elsewhere. Since Suncorp cost me $5000, I have lodged an official complaint with them, so do not use them for both reasons of inefficiency and LVR.

    I can't wait for the unit to be completed so I can see what the market does in the next 6 months,

    Hi trickeymickey,

    it appears we have something in common. I too purchased one of these villas in the Hillcrest development.

    I think it was a good buy considering the market and where it is headed. Rentals are incredibly tight and I can’t see this easing in the near future. There is also some exciting projects happening in the region including further west in the Galilee Basin but also just south of Emerald near Springsure, Bandana Energy is planning a $1.1 billion dollar project. Ensham’s $1 billion dollar expansion.

    With yield’s really starting to ramp up…it’ll be a very interesting 6 months till completion. Be nice to see a bit of equity!

    Profile photo of Maddie969Maddie969
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    Hi,

    Great Thread. I read this thread a while back and have just come back to it when I googled 'rentals in Dysart'. We currently have a property we are trying to lease out in Dysart and the rentals are very slow, despite the high prices. The agents never return my calls so its very hard to get an idea as to whether its strike related or there is something else going on. If anyone is in the know I would appreciate your feedback.

    Also, just a bit of information on valuers in Dysart. We just had a another property valued in Dysart and from my understanding there are 3 valuers that go to Dysart and 1 of them gives good, current values and the other always undervalues which has stuffed up our latest purchase. I now know that I need to pick which bank I go to to refinance so I can be sure I will get the right valuer. Very important if you are refinancing a property to pull out the deposit to buy another – we have done this 5 times in the last 6 months because the prices have run so hard. "Make hay while the sun shines" – so they say.

    mattnz
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    Great info thanks Maddie.

    Which valuer is best and which banks have them on their panel?

    Profile photo of JT7JT7
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    Update on Emerald – Rents are starting to go ballistic!

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