Prices continue to spike in mining regions

by Caroline Dann23 Aug 2012

RP Data's latest market results show mining towns are well and truly booming, at least in terms of rents and property prices.

 
It says mining regions have seen significant, and sustained, growth in prices over the past 12 months.
 
The Isaac Council, in the BowenBasin region in Queensland, reported a 30.7% growth.
 
Conversely, other research shows new home builds and construction activity in the mining regions have slowed down.
 
RP Data's Cameron Kusher said this lack of new housing had pushed rents up significantly.
 
“A lack of new housing supply has had an impact on rental rates which have seen robust growth over recent times. Rents have increased over the past year across each region except in Port Pirie and have risen by 88.2 per cent across the Isaac council region,” he said.

Related news:

 
 
 
 

COMMENTS

  • by Country Broker 23/08/2012 11:42:38 AM

    being a little sceptical i just wonder how long it will keep going once we see RIo have a down turn in profit like BHP ??