Properties in mining towns tipped as top investment opportunities
Article by Mozo
A new report released by RP Data has noted that, with the mining industry and the federal government having reached an amicable agreement over super-profits taxes, the sector could be set to expand over the next couple of years.
As such, property in regions such as north-west Australia – which is rich in iron ore – and the towns surrounding the Queensland coal fields is likely to enjoy a marked increase in values over the foreseeable future, making home loans comparisons more likely than in the likes of Sydney or Melbourne.
Explaining the probable trend, RP Data research analyst Cameron Kusher said: "There is likely to be a higher level of demand for Australian mines to pull resources out of the ground at a more rapid pace.
"That means more workers and more demand for housing in what are generally chronically undersupplied markets."
At the end of last month, the research company reported that properties in Australia’s state capitals increased in value by an average of just 0.6 per cent in May.
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