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TOPIC: The rental crisis......

The rental crisis...... 18 Jan 2012 07:42 #1

  • gsorenson
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When will rentals be affordable in Canberra? And how about those centres that are being hit hard by the mining boom?
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Re: The rental crisis...... 23 Jan 2012 12:05 #2

  • Leopold
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Not sure about Canberra... but upper Hunter area struggles pretty badly with rentals. Mines and contracting companies buy houses for their workers and the rentals that are left soon get rented up short term at quite high prices.
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Re: The rental crisis...... 23 Jan 2012 12:11 #3

  • gsorenson
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I was wondering about your area, a very good example. If it seems likely that a mining company will be in town long term, i.e. 50plus years, maybe it could be including within the state gov / company deal to include additional homing to be built within the area - the other issue that's tied to this is infrastructure, such as water supplies, internet, roads.... the list is endless really. The mining boom will probably go on for another 200 years, perhaps we need to look that far ahead.

I have family in Karratha and if it wasn't for her employers having accommodation set aside for her, the same 3 bedroom house would be 2500 plus a week so i've been told.
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Re: The rental crisis...... 23 Jan 2012 12:22 #4

  • Leopold
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I agree re: infrastructure. The roads here are attrocious. As mining expands, the number on the cars increases exponentially when you consider all of the contractors and other people involved on top of the new staff they employ.

Hunter roads have needed upgrading for the past 10-15years and all the state govt has done is reduce speed limits rather than put tar on the ground. The hunter expressway will be somewhat of a help, but doesnt go far enough up the valley to really fix the problem. One plus side of the new expressway is it should increase the value of my land nicely :P
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Re: The rental crisis...... 23 Jan 2012 12:35 #5

  • gsorenson
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Good news with the highway. Should also make chasing easier:) I think everyone should drive to the conditions of course, however there are some shockers out there. For bitumen roads here locally< i'd say the queanbeyan to captains flat rd is one if the worst i have chased on. Dirt roads are different though.

Back on topic though, Canberra's price rose sharply post the 2003 fires when 500 plus homes went off the grid. Plus a stable economy with the public service sector, so different forces at play from that of mining.
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Re: The rental crisis...... 23 Jan 2012 12:43 #6

  • ShaneE
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I can believe the price from Karratha. Having spent some time in Port Hedland and seeing houses that we wouldn't even touch down here go on the market for upwards of $1mil.

If you were able to predict where the next mining boom would be and buy some land/houses you would set yourself up for a very impressive return.
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