Property value increases in Moranbah have tracked higher than the QLD average of 5.76% over the last 12 months.
Comparing Moranbah,4744 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Moranbah, 4744 is offering QLD ‘s 44th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 10% of discounts offered by this QLD.
At number 2702 in a list of fastest selling suburbs, Moranbah is in the bottom 30% of suburbs in Australia with an average of days on market 87.377 for properties listed there.
Property investors should expect to get $430 weekly from the median priced house in this suburb.
With the median price for a house in Moranbah being $285000 and the advertised rent reaching $425 the gross rental yield for property investors calculates out to be 7.75%
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Moranbah doesn’t have the same amount of headline grabbing resource projects that Gladstone has for example, but it’s a suburb whose yields and potential for future growth certainly warrant a closer look.
Given its Bowen Basin location, the main industry here is mining, and Moranbah Real Estate principal (and former mine worker) Bella Exposito notes that it’s an industry that’s currently very much in expansion mode.
“The mines are expanding. They’re looking at having 16,000 workers in 2012, and there are only 11,000 at the moment, so that’s 5,000 new residents in one year.”
And with rental properties already getting snapped up like hotcakes by the town’s tenants, this is a town whose excellent yields could be set for a major boost.
“We advertised three rental properties today and by about 10 o’ clock they were all taken,” explains Exposito. “Tenants are mainly families – about 95%. And the rest are single people that are in shared housing – three or four to a house.”
She admits however that Moranbah is a high-risk high-reward investment hotspot, likening it to the share market.
She estimates that the area’s property market is dominated by landlords – with as much as 95% of properties being sold to interstate property investors – and points out that the health of Moranbah’s rental market is tied to that of the local mining industry.
“Moranbah had a very strong increase in 2008, and then in 2009 it crashed,” she explains. “But now it has some of the highest investment returns in Australia.
“It has stabilised at the moment, so a lot of new people are now purchasing for investment purposes. Why would you invest in Brisbane or Sydney, where property’s returning 4%, when you can get 12-13% here?”