I have an IP in Gunnedah purchased which I purchased in 2010, it's a basic three bedder ex housing commission. I'm just wondering what if any effect the recent news that the federal gov has approved the Shenhua Watermark coal mine near Gunnedah will have? http://www.smh.com.au/environment/g...nment-minister-greg-hunt-20150708-gi7j65.html Do you think it will have a positive effect on prices or will it not make much of a difference?
Depends on a few things Currently the libs are trying to push a free trade agreement through with the Chinese This would allow the Chinese to bring in their own workers for contracts over 150 million This includes licensed trades such as electricians So if this happens the days of mining benefiting anyone but the company and the government are over - no flow on to the local economy Also this mine will face tough opposition - it's not through yet Mining is state based Wouldn't count on this mine getting up due to its location on Liverpool plains
I have an IP there and was cold called by another property manager. Apparently, construction companies have started looking for residential properties now. A cheaper and easier option to rotate workers through, than having to secure motels regularly. I guess that rents will rise as a result.
Looked into this area last year but the numbers didnt work for me and felt the risk was too high to be a good option.
