Newspaper article The Daily Mercury (Mackay, Australia)

Moranbah Market ,Cynot bulletproof,CO Agent Warns

Newspaper article The Daily Mercury (Mackay, Australia)

Moranbah Market ,Cynot bulletproof,CO Agent Warns

Article excerpt

Dominic Geiger

dominic.geiger@dailymercury.com.au

A VETERAN Moranbah real estate agent has shot holes through a recent Australian Property Investor report which labels the townCOs housing market as C[pounds sterling]bulletproofC[yen].

The report, released yesterday, named 152 of AustraliaCOs safest investment suburbs, and included both Moranbah and Walkerston in the list.

While MoranbahCOs C[pounds sterling]volatileC[yen] housing market was acknowledged, the report said some Queensland mining towns were included because they recorded significant C[pounds sterling]overall house price gainsC[yen] which C[pounds sterling]offset shorter periods of haemorrhaging.C[yen]

The document was compiled by taking the growth of a suburbCOs median house price each year for a 10-year period, ending in 2012.

Australian Property Investor magazineCOs Shannon Molloy said despite being quiet at the moment, many investors expected Moranbah to recover in the long term. …

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