Uranium mining may boost property investment in Queensland
Choosing a smart real estate investment is an effective way of accumulating wealth over a long period of time.
However, a property's profitability, resale value and capital growth is dependent on several factors, including its geographical position.
Buying a dwelling in an area tipped for significant development and a rise in employment opportunities can provide higher returns thanks to increasing house prices in the area.
For example, a number of resource-rich areas in Queensland and Western Australia have recorded significant growth in residential property values over the last decade.
With this in mind, would-be investors may be interested in snapping up real estate in Queensland's north-west region, with it containing approximately $8 billion worth of undeveloped uranium deposits.
State premier Campbell Newman said the recommencement of uranium mining was a step closer, with the Uranium Implementation Committee powering ahead with its work to develop practices and processes for the industry.
"Uranium mining and export is already providing jobs, royalties and crucial regional development in other parts of Australia, and it’s time Queenslanders shared in these benefits too," Mr Campbell explained.
"The mining industry is a cornerstone of the north-west, with the production of minerals like copper, lead and zinc in the region worth $6.79 billion in 2010/11."