I am just curious how many investors would be buying IPs in Moranbah? Check the link below. House is selling for around $330,000 and is currently rented at $600 per week. (Moranbah only 2 to 3 hours drive from some of the world’s most beautiful tourist locations like Airlie Beach, the Whitsunday Tropical Islands and Eungella National Park, Australia’s largest rain forest reserve. 8000 people call Moranbah their home. The town boasts a wide range of educational, sporting and recreational facilities than you would only expect to find in far larger towns.) Real Estate, Property, Land and Homes for Sale, lease and rent - realestate.com.au
Why on earth is the rent $600 pw ?? Whats driving the rental market out there ? Did they strike a coal seam or something ....... We are expecting to get those rents for brand new properties in Mt Isa, but I know whats driving those rents. Whats in Moranbah ?
They have coal and gas. The reason for high rents is that it is a mining town with a drastic shortage of accommodation. Do your research, but the towns future is pretty secure with all the mines in the area expanding and the town is trying to grow as well. The only thing holding the town back is lack of available land, hence the housing shortage.
Ahhhhhh......that makes perfect sense. I have done my research in places like the Pilbara WA and Mt Isa Qld, and what you have described are classic symptoms. The irony about this country is that you can see unlimited land as far as your eyes can see, but there is no 'available' land. I have been through this exercise in both those locations mentioned above, and the resultant market prices for both properties and rents reflects this lack of available land. Its an opportunity for anyone willing to tackle the problem. While the urban areas and cities around Oz present patchy and difficult investing environments, these regional areas present more certainty for the next 3 to 5 yrs imo. But as you said Tropo, do your research first. Kevin.
