Towns such as Whyalla and Gladstone will continue to be significant hubs of mining investment, despite the Carbon Price, according to a recent response from minister for infrastructure and transport, Anthony Albanese.
Responding to a question about the “scare campaign” over the Carbon Price, Mr Albanese, representing the minister for climate change and energy, said that indications these areas would turn into "ghost town[s]" are incorrect.
“Prior to 1 July we were told that the sky was going to fall in and that towns like Whyalla were going to be wiped off the map,” he told the House.
Pointing to last week’s Qantas announcement he stated that, “There will be 1,200 people flying between Gladstone and Sydney every single week [in 2013].
“Far from being a 'ghost town', Gladstone is an economic power house which will continue to contribute to our economy. There is $56 billion of investment in LNG projects alone, committed and planned,” he continued.
For investors, however, hotspotting.com.au’s Terry Ryder recently told Smart Property Investment that the major growth has already happened in Gladstone.
“Really, the best time to buy in Gladstone was two or three years ago.
“For an investor who does proper due diligence and research would have identified Gladstone in advance of the growth we’ve seen over the last 12 to 18 months and would have bought two years ago,” he said
Whether there is still substantial growth ahead is a point of current discussion.
“If you buy there now you may still get some growth, but really you’ve missed a lot of the growth that’s happening in Gladstone over a five year time span,” said Mr Ryder.
Your enquiry has been sent to a local Aussie Mortgage Broker.
We will be in contact with you shortly.
- 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