- OriginalsinnerParticipant@originalsinnerJoin Date: 2005Post Count: 79
Briefly, Moreton Resources has been trying to get a coal mine off the ground near Kingaroy. Open cut, I believe, and something like 10km from town. On paper, it looks promising to me, if they can find a buyer for the coal.
There is a concerned citizens group trying to stop this, citing concerns about dust etc. Among other concerns, they fear that the mine, if it starts, will cause their property values to fall.
My question is this. Is there any chance they could be right? I would have thought that a new coal mine would bring probably hundreds of jobs in the mine alone to the area, with further non-mine jobs created as a knock-on effect. Would this not cause property values to rise, or do I have it wrong? Curious because I have a house there!
Thanks for your time.BuyersAgentParticipant@knightmJoin Date: 2005Post Count: 338
@originalsinner I doubt a mine could take values from where are currently in Kingaroy LOWER given they are already low. In almost ALL cases new mines increase rents and values, and the rest of the economy. The only scenario I could see values falling was if a proposed mine was:
1 right on the edge of town,
2 in a really high price trendy latte drinking town who would actually leave because of the mine.
In practice this would be really rare.
If locals are fighting its because they don’t like it for a lot of other reasons, this has been added in to try and strengthen the argument, but is unlikely to be true. Of course mines have environmental impacts that are real, and whether a new coal mine will do well in the current climate is questionable anyway given current low prices (will probably rise eventually) but yeah its more an emotional NIMBY thing (not in my backyard) than a financial thing.