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Property resurgence ahead for mining towns

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Australian Broker | 23 Dec 2013, 06:23 AM Agree 0
After ‘normalising’ over the past 18 months due to softening mining investment, the property markets of many of Australia’s mining areas could be due a comeback
  • Old Joe | 23 Dec 2013, 08:58 AM Agree 0
    I am very worried about the Central West area inside of Newcastle and the area around Maitland. I have spent some time there in the past few years and can say the following
    * Properties on the market for a long time and also heavy price discounting.
    * Workers buying in Sydney and traveling up to the Mine during the week.
    * Mining staff sold properties near coastal areas with no demand and also secondary market pricing heavily discounted.
    * Insecure work
    * Local businesses complaining that miners not spending in the local economy apart form Aldi , Masters and Liquor chains.
    * Commercial property on mainstreet all for sale and empty.
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