WA Properties in Mining Towns

I'm surprised Port Hedland has a median of $599k. Still a lot more to fall down. Me thinks about another 50% fall from there.

 

Does anyone know the year these towns started to rise ?2004?
I was told a lot of the early buyers were politicians. I'm guessing they were signing off on mining licenses and contracts. Is thus true and how would someone know this information to take advantage of the next mining boom in 10,20 or 30 years time?

 

I am assuming started around 2001, same time Perth property started to rise?? as it was the boom that drove commercial and resi prices north.

 

2004 was when the mining boom kicked into gear.

 

Pete Wargent on Twitter from @petewargent

In central QLD there are several mines for sale (for below cost), several possibly shutting down, one whose parent company is going bankrupt .... interesting times ahead. Its a real bloodbath.

 

Iron ore was below $20 a tonne until 2005. It peaked at around $190 a tonne in early 2011, and has since fallen....