news

Property activity slumps in mining towns

By webmaster

The controversy surrounding the federal government’s super profits tax is starting to impact negatively on the property market.

New data from Ray White revealed that property sales were down 18 per cent in resource dependent regions such as Mackay.

Ray White joint chairman Brian White said the real estate’s results in mining cities nationwide were below average.

“We didn’t expect the controversy over the Resource Super Profits Tax to impact on property but it did,” Mr White said.

“But offices in the cities that recorded a drop in sales, reported a quick upswing as soon as the new Prime Minister declared an agreement had been reached with the mining companies.

“It was more proof that real estate activity reflects the attitudes of the community as much as their basic needs.”

Ray White’s overall results for June, 2010, were up two per cent on the corresponding period last year with sales of $2.4 billion.

Property activity slumps in mining towns
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%