The Gympie property market will leap ahead after the discovery of coal seams in the Basin, according to a local real estate agent.
Helene Faint from Raine&Horne Gympie said the mine would provide an economic stimulus to the regional centre, which has previously been left behind by the mining boom.
“Tiaro hasn't begun to advertise for workers but the discovery is great news for Gympie real estate, which is yet to cash in on the surge in mining activities enjoyed by other Queensland regional towns,” she said.
These positive employment prospects were attracting big retailers to Gympie, such as Wesfarmers’ Bunnings, according to Ms Faint.
“Gympie is a thriving regional town, which savvy investors are starting to recognise,” Ms Faint said.
In her view, investors would be drawn to low entry prices and a robust rental sector.
“Gympie is a nice place to live and better still it is still possible to buy a three-bedroom home for under $200,000, which is attractive for first home buyers and investors,” Ms Faint said.
“Rental yields of around seven per cent will also catch the eye of investors, while vacancies are approximately one per cent, underlining that Gympie is popular with the tenant market.”
In addition, she suggested the town had a range of industries underpinning the local economy.
Gympie has a robust educational sector, including campuses of the Wide Bay Institute of TAFE andCoast University, as well as serving as a transport hub for the local area with rail links and a local airport, she said.