Hi all, Just wondering what people’s thoughts are on Muswellbrook? Been flat for 5 or 6 years but has gone up 10% in the last 12 months. Vacancy rates are down, few mines being extended that should see a big influx of jobs early next year. People say don’t invest in mining towns but is it a case of the ripple effect? I always thought I’d sell up as soon as the market improved but with the recent growth and people being priced out of Newcastle, Maitland I’m think I might hold on for the ride as I think the next few years are looking positive. Thoughts?
Never has been good and never will be good. 20 years from now houses there will still be the same price.
But that doesn’t actually make sense and you have no valid arguement for that statement. The median price a year ago was $275k and now its $305k so your point is dead and buried right there.
So if you bought in May 2017 at the median price of $255k and sold today at the median price of $305k prices are the same. Hmm interesting
As the mining picks up again the same questions asked and advice given about mining town as last mining boom
Was more so meant to be mocking the sprukers again. Having worked and lived in mining town for several years my self, the boom and bust come and go in 7 to 8 years cycles Money can be made in them if you ask the locals and the off spruker with a confidented interest but there are far better places to invest
Wow you suck. Seriously you posted a question then get upset when people respond with answers you don't like....
Happens all the time on this forum, People post these questions seeking out validation for there decisions and almost always get upset when they get a answer that doesn’t have a positive reinforcement to support them.
Hi @Thedoc Once someine very successful told me to not buy an investnent similar to a one legged horse. In your case, you have exactly done a similar thing. That is, buying solely keeping mining in mind. Now, the ripple might all because of cycles. Sydney is already declining and the ripple is reaching in outer pockets. In this case, you are getting an opportunity to mov3 out. Not grabbing that will be another mistake. There are way better investments in terms of opportunity cost and will fetch you way better returns. Please spend more time learning and reading or talk to as many people as you can so that you can gather different perspectives and make a sound judgement. Regards
Just explain to me how @Adam J comment is an opinion on my original question? If that wasn’t a condescending reply I don’t know what is. If you don’t have something constructive to say don’t bother typing you’re wasting everyone’s time. Cheers
Area is largely driven by coal mining, which presents unacceptable risk especially with what is happening politically and technologically with faster rates of adoption and developments in renewable energy. Outside of mining, nothing else is really driving demand. Some marketers will say that is diversified due to being within the broader Upper Hunter region, but that's a stretch. Any areas overly dependent on any one economic source should be a red flag.
I commute from Glendale (15KM from Newcastle cbd) to the mines. Now that the Hunter Expressway has opened you dont need to live up there. 2 scenarios I bought my house 3 years ago for $405k and was valued at $520k in June. Probably droped a bit now. My supervisor bought a house in Singleton for aprox $650k 6 years ago and has only just recovered to the price he bought it for. Food for thought. If you like short term capital gains around these muswelbrook probably not a bad idea. But if you get it wrong you could be stuck with it for a long time.
Personally im looking in towards Newcastle's inner suburbs. Playing the long game and not really interested in risk.
East Maitland, Metford, Thornton would be where I'd invest over Muswellbrook due to Greenhills and hospital builds.
Big-hitting markets declining, but don't fear the figures Ticking along nicely while Sydney and surrounds are in decline.
