End of the resources boom check this out

[Bribie G]

Current rentals in Gladstone where mining companies are flooding the rental market by putting the vacant houses they bought to house FIFO workers up for rent. (fairfax news)

Effect on the rental market?

feck me

wow

couldn't rent a dog kennel for this anywhere else in Australia

this is getting sooorious

Edit:

Repent ye, the end of the world is nigh.

 

[SmithyA]

That's the kind of cheap that attracts the wrong kind of applicants. However it is a great time for someone young who can find employment out that way to get a good head start on their house savings.

 

[Fraser's BRB]

When I first moved to Singleton a bit under 4 years ago, we really struggled to get a rental.

Today, there are over 100 empty properties around town that they can't find tenants for.

 

[bradsbrew]

That's the kind of cheap that attracts the wrong kind of applicants. However it is a great time for someone young who can find employment out that way to get a good head start on their house savings.

Probably more suitable for retirees and pensioners that do not require employment.

 

[Adr_0]

Yeah, it's pretty bad. Occupancy will be even lower in October.

Some people say it's nice that it's back how it used to be, but I'm not sure that the businesses agree.

 

[lost at sea]

Who says there is no risk in property invesment?

 

[Bribie G]

Probably more suitable for retirees and pensioners that do not require employment.

Exactly. Apart from the industrial backdrop, Gladstone itself ain't too bad with access to beaches etc (I lived in Bundaberg and Maryborough and know the place well).
If I wanted to go back to QLD I'd certainly consider moving there as opposed to, say Hervey Bay or the Gold Coast or other God's Waiting Rooms.

There will probably be a flood of single mothers as well - that's not too bad a thing as it leads to employment of extra teachers and income for supermarkets whatever. As well as adding to the local milf population that might be of interest to the young single guys still working in minerals, but we shouldn't mention that.

 

[bradsbrew]

I remember a few years back, tradies were sleeping on the jobsite or in their vans because they could not get any accommodation in Gladstone. The local person on minimum wage could not get into a house because the rent was more than they earn.

 

[lost at sea]

Same story in karratha, 4-5 bed speckie homes selling for 1.2mil 3 years ago, same houses dont sell for 400k now, ouch.

Construction boom is over, let the real mining boom begin, maximum volumes, minimal manning, zero tax!

 

[Bribie G]

Looked at in the light of a declining population of a town or region, rents in particular plummet. Supply and demand.

OT for this thread I suppose but it illustrates a point; I've been toying with the idea of going back to the UK in a couple of years (probably won't happen but I've done the research). I'll pop over for a month next year to suss things out anyway.

I'd go to Northumberland, county durham or Cumbria, my old home patches. Once a thriving area of mining and shipbuilding, it's mostly gone... similar to Central Queensland.. but the areas themselves are very beautiful and great to live if you don't need a job. I was imagining sky high rents but to my surprise I can rent pretty decent typical pom homes with new kitchens, bathrooms and gas central heating etc from around $A 170 a week. With a bit of bracing weather chucked in for free :lol:

know this village well, pure eye candy

cue theme from Coronation Street

just down the road from Belhaven's

 

[bradsbrew]

Those first two remind me of "love thy neighbour", just not sure if you would be more like Eddy or Jacko h34r:

 

[Dave70]

Easy come, easy go.
I sold my 79 series GXL Landcruiser ute to a young bloke a few years back who just scored a big paying job in the mining industry. Apparently his XR6 turbo wasn't suitable for towing his new jet ski and dirt bike.
Yep. A golden age that would never end..

 

[lost at sea]

Easy come, easy go.
I sold my 79 series GXL Landcruiser ute to a young bloke a few years back who just scored a big paying job in the mining industry. Apparently his XR6 turbo wasn't suitable for towing his new jet ski and dirt bike.
Yep. A golden age that would never end..

I always wanted a 79 LC, had the cash ready, silly me bought a house instead lol

 

[sp0rk]

It's farking insane in Muswellbrook
We rent a house with 4 bedrooms, 2 bathrooms (1 is an en suite), double garage and a massive back yard that's under 2 years old
Fairly nice house, but you can tell it's rushed project home because some of the finish is a bit shitty, but it's still quite a nice house
For a whole $270 a week...
when it was first built, this house was renting for over $500 a week
There's houses in the estate we're in that were just abandoned 3/4 through being built, because the industry just crashed so quickly. They've got the windows boarded over and the grass is getting long.

Then if you go up over the hill, there's about 15-20 lots that have fiber optic comms preinstalled (1 of about 4 streets in town, luckily I live in one) for FTTH NBN, but they can't build on them.
Because in the developer's rush to have the lots sold and built on, they subdivided the lots too small and filled with shitty acid-sulfate soil, so all that fiber is going to waste

My friends ask when I'm going to buy here, the answer is never
I'd never get a return on the home, that's if I could sell it in the first place.
I'd possibly buy up at Scone, but property prices there are skyrocketing :/

 

[Fraser's BRB]

It's farking insane in Muswellbrook
We rent a house with 4 bedrooms, 2 bathrooms (1 is an en suite), double garage and a massive back yard that's under 2 years old
Fairly nice house, but you can tell it's rushed project home because some of the finish is a bit shitty, but it's still quite a nice house
For a whole $270 a week...
when it was first built, this house was renting for over $500 a week
There's houses in the estate we're in that were just abandoned 3/4 through being built, because the industry just crashed so quickly. They've got the windows boarded over and the grass is getting long.

Then if you go up over the hill, there's about 15-20 lots that have fiber optic comms preinstalled (1 of about 4 streets in town, luckily I live in one) for FTTH NBN, but they can't build on them.
Because in the developer's rush to have the lots sold and built on, they subdivided the lots too small and filled with shitty acid-sulfate soil, so all that fiber is going to waste

My friends ask when I'm going to buy here, the answer is never
I'd never get a return on the home, that's if I could sell it in the first place.
I'd possibly buy up at Scone, but property prices there are skyrocketing :/

Drayton not getting approval for expansion also exacerbated the problems up there. But yes, there was a very sudden turnaround in general.

 

[Red Baron]

Sold my house in Yeppoon this month. Got away pretty lucky I guess- only had to gift the new owners a brand new pool and fence...... Yeppoon is just up the road from Gladstone and was buoyed by the same market forces, but it has no industry whatsoever to fall back on. They'll be giving away places there in a couple of years.

Could be worse though- trying to sell in Blackwater or Emerald would be near on impossible now.
Cheers,
RB

 

[good4whatAlesU]

Prices on the NSW north coast are going ballistic due to Sydney retirees coming up and driving up the prices. Our rent has gone up twice in the last year. 25 grand plus a year rental for average worker is getting a bit much.... Not many young families in our street (they cant afford it). I would consider the UK too (where we came out from 170 years ago) but can't get a working visa - would get arrested trying to go back) remind me why we are in the Commonwealth again?). .
We need to ditch neg. gearing and loopholes which allow multiple house owning investors drive up the market.

 

[Vini2ton]

I live in Box Hill in Melbourne's eastern suburbs. I reckon house prices have doubled or more in the past 10 years. The town centre in 5 years time will become a sky-scraper metropolis. These places (dog-box apartments) are sold before the dodgy towers are erected. This is our mining boom coming back here to really **** me off. Brand new mercs volvos porsches and land rats actually sliding shit under my front door instead of using the letter-box. Truly becoming a colony. I'm going to move back to Australia. Gladstone looks good.

 

[GalBrew]

I live in Box Hill in Melbourne's eastern suburbs. I reckon house prices have doubled or more in the past 10 years. The town centre in 5 years time will become a sky-scraper metropolis. These places (dog-box apartments) are sold before the dodgy towers are erected. This is our mining boom coming back here to really **** me off. Brand new mercs volvos porsches and land rats actually sliding shit under my front door instead of using the letter-box. Truly becoming a colony. I'm going to move back to Australia. Gladstone looks good.

Prices in nearby Forest Hill doubled in 5 years, so I would say that Box Hill would be doing better than that.

 

[Lethaldog]

I live in Box Hill in Melbourne's eastern suburbs. I reckon house prices have doubled or more in the past 10 years. The town centre in 5 years time will become a sky-scraper metropolis. These places (dog-box apartments) are sold before the dodgy towers are erected. This is our mining boom coming back here to really **** me off. Brand new mercs volvos porsches and land rats actually sliding shit under my front door instead of using the letter-box. Truly becoming a colony. I'm going to move back to Australia. Gladstone looks good.

half the reason why I'm moving to cairns in November, plus the warmth is playing a fair part [emoji106]