Newspaper article The Morning Bulletin (Rockhampton, Australia)

Prices Jump in Trio of Mining Towns; Boost in Coal Prices Triggers a Market Turnaround

Newspaper article The Morning Bulletin (Rockhampton, Australia)

Prices Jump in Trio of Mining Towns; Boost in Coal Prices Triggers a Market Turnaround

Article excerpt

THE boost in coal prices in the past six months has triggered a house price jump in at least three mining towns in Central Queensland.

Valuers Herron Todd White reported in its Year in Review that a sharp change in market conditions had been noted in recent times, particularly Clermont, Moranbah and Dysart.

"Over recent months coal prices have been trending upwards and this has resulted in some positive outlooks and speculation," HTW said in its December release.

"In the last month, some towns have seen rental vacancy rates tightening and others have seen values jump by up to $30,000 as supply quickly shrinks.

"It appears some have been wanting to buy (currently renting due to very low rents) and waiting for the bottom to come.

"With the positive news starting to circulate in the resource sector, sales turnover has increased, supply has tightened and values have started increasing again, particularly in Clermont, Moranbah and Dysart."

The change comes after a string of positive news about the progress of the proposed Adani mine (near Clermont) and planned reopening of three mines across the region. …

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