Mining area tipped as "no brainer" for growth

By Reporter 09 July 2012 | 1 minute read

One particular mining area is a “no brainer”, with growth forecasts to be exceeded, according to one of the largest property companies in the area.

The Surat Basin is proving itself to be increasingly promising for businesses and property investors, with interest in the region at its highest ever, according to Surat Basin Property Group’s Jason van Hooft.

At a recent Surat Basin Energy and Mining Expo a record number were in attendance, with more than 4,000 people on the first day, and over 1,000 companies represented at the event.

Of those attending, 1,800 were considering a job change into the region.

Population figures, said Mr van Hooft, are currently pressuring the 2026 government estimates, and the annual growth rates of three per cent over the past five years are tipped to rise substantially over the next 10 years.

Investors comparing it to other mining areas need to be aware that it differs from Karratha and Port Hedland, he said.

“For a start we are not that isolated being only 3.5 hours drive from Brisbane and secondly the towns of Chinchilla and Miles are long established country communities with existing infrastructure, existing thriving communities and broad based economies.

“If you like, the resources boom is the icing on the cake for these centres.”

He points to the returns, the certainty of tenancy and the potential for capital gains as reasons the investment “cannot be duplicated anywhere else”.

The Surat Basin has been the driving force behind Queensland’s building approvals, according to Housing Industry Association executive director, WarwickWarwick, WA Warwick, QLD Temby.

“Cities in Queensland anywhere near the resource development centres are beginning to show the benefits that the resources boom can have for other areas of the economy,” Mr Temby said, pointing to Rockhampton, Toowoomba and Gladstone as top examples.

With an average of 16 per cent capital gains over the past 10 years, said Mr van Hooft, “It is very exciting and we are really only at the start of this resources story in the Surat Basin.”

RELATED TERMS

Gain

Gain is an increase in the price or value of an asset or property currently owned and was acquired at a lower price.

Investment

An investment is an asset or item purchased with the expectation that it will generate income or appreciate in value in the future.

Property

Property refers to either a tangible or intangible item that an individual or business has legal rights or ownership of, such as houses, cars, stocks or bond certificates.

Rates

Rates refer to a fixed price or an amount charged by sellers or providers for their goods and services.

Rent

Rent refers to the payment made by a tenant periodically to a landlord for the use and occupancy of a property.

Rent

Rent refers to the payment made by a tenant periodically to a landlord for the use and occupancy of a property.

Tenant

A tenant, also known as a renter or occupant, is a person or entity that leases space for residential or commercial use.

Tenant

A tenant, also known as a renter or occupant, is a person or entity that leases space for residential or commercial use.



Mining area tipped as "no brainer" for growth
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