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NSW Gunnedah

Discussion in 'Where to Buy' started by Chocolate Soldier, 10th Jul, 2015.

  1. Chocolate Soldier

    Chocolate Soldier New Member

    Joined:
    10th Jul, 2015
    Posts:
    1
    Location:
    Coffs Harbour
    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?
     
  2. strongy1986

    strongy1986 Well-Known Member

    Joined:
    24th Jun, 2015
    Posts:
    201
    Location:
    VIC
    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
     
  3. Mr Damage

    Mr Damage Member

    Joined:
    10th Jul, 2015
    Posts:
    6
    Location:
    NSW
    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.
     
  4. jins13

    jins13 Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    953
    Location:
    Sydney
    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.