news

Mining boom won't end in two years, says analyst

By Staff Reporter

A report has been released arguing against predictions that Australia’s mining boom will end sooner than expected.

In response to predictions by Deloitte Access Economics that the mining boom will end in two years, property market analyst Simon Pressley describes it not as a mining boom, but as a “resources revolution”.

Mr Pressley, from Propertyology – Property market analyst and Australia’s (2012) Buyer’s Agent of the Year – writes in the Propertyology Report from 27 July that suggestions the boom will end by 2015 are misleading.

“What has been overlooked,” writes Mr Pressley, “is what happens when construction of these projects is finished – they a built for a purpose not for practice.”

“It’s not until key infrastructure such as processing plants, ports, pipelines and railways are constructed that those valuable resources below the dirt can be converted to dollars. That’s when export commodities such as coal, gas and iron ore are processed and exported to the likes of China, India, Japan, South Korea and France,” Mr Pressley writes.

Mr Pressley said that to hear reports of the boom ending in two years was a shock. “Had the reporting stemmed from an article written by some random journo I would have given it the usual through-to-the-keeper treatment,” he said. “To hear that credible economics firm, Deloitte Access Economics, was the apparent source of these statements almost made me choke on my coffee.”

Mining boom won't end in two years, says analyst
SPI logo
Thank you.

Your enquiry has been sent to a local Aussie Mortgage Broker.

We will be in contact with you shortly.
Opps.

error occurred.
Unfortunately Aussie cannot attend to your home loan related enquiry at this stage as you must be a citizen or permanent resident.
Do you need help finding the right loan for your investment?
What Aussie do for you:
  • Give expert mortgage advice to help you find great investment loan deals
  • Help you maximise return by lowering financing costs
  • Save you time and effort by helping with the paperwork
First name
Last name
Location
Mobile Number
Are you an Australian Resident?
promoted stories

Top Suburbs

Highest annual price growth - click a suburb below to view full profile data:
1.
BLUE BAY 49.18%
2.
PAMBULA 43.5%
3.
BERKELEY VALE 42.74%
4.
POINT PIPER 40.52%
5.
NORTH TURRAMURRA 38.12%