Mining boom boosts regional Qld rental market

Mining boom boosts regional Qld rental market

13 January 2010 by Staff Reporter 0 comments

Renters are flooding the Queensland property market on the back of a mining boom, causing a housing shortage across the western side of the state.

Maranoa regional council Mayor Rob Loughnan told ABC News that the housing needs of mining personnel have caused a problem in the area which does not have enough infrastructure to support the influx of renters.

Mr Loughlan said the council, the State Government and the Urban Land Development Authority (ULDA) would meet to discuss the accommodation shortage.

"At this stage we're still talking through the possible solutions," he said.

"We've got a meeting next month in Brisbane to talk with the ULDA and the Government about some ways that we can get local developers and interested parties in the towns interested in the low-cost accommodation, rather than the big end of the market, which is pretty well catered for."

Statistics from RP data showed mining centres, such as the Maranoa region, topped the list of highest rental yields in 2009.

“It’s not surprising to see this result across the housing market due to these areas enjoying continuing strong demand and in many instances being hampered by little scope to provide additional housing,” RP Data’s property analyst Cameron Kusher said.

 

Renters are flooding the Queensland property market on the back of a mining boom, causing a housing shortage across the western side of the state.

Maranoa regional council Mayor Rob Loughnan told ABC News that the housing needs of mining personnel have caused a problem in the area which does not have enough infrastructure to support the influx of renters.

Mr Loughlan said the council, the State Government and the Urban Land Development Authority (ULDA) would meet to discuss the accommodation shortage.

"At this stage we're still talking through the possible solutions," he said.

"We've got a meeting next month in Brisbane to talk with the ULDA and the Government about some ways that we can get local developers and interested parties in the towns interested in the low-cost accommodation, rather than the big end of the market, which is pretty well catered for."

Statistics from RP data showed mining centres, such as the Maranoa region, topped the list of highest rental yields in 2009.

“It’s not surprising to see this result across the housing market due to these areas enjoying continuing strong demand and in many instances being hampered by little scope to provide additional housing,” RP Data’s property analyst Cameron Kusher said.

 

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