Investors show interest in Queensland mining towns
Savvy property investors are snapping up residential properties in Queensland after several land releases in resource-rich regions across the state.
Residential developments are underway in Moranbah and Blackwater following the government's release of land lots on September 1, state deputy premier Jeff Seeney explained.
"Moranbah buyers have responded quickly to the 75 lots released in stage three of Bushlark Grove with 22 lots already under contract," Mr Seeney said.
"Expressions of interest have been lodged for another 13 lots and a further 36 lots have been contracted by the project's builder partners who are expected to release house and land packages to the market in early October."
Strong interest in the recent land developments indicates confidence in Queensland's property sector, with investors recognising the benefits of purchasing properties in mining communities.
High levels of growth in resource regions means rental properties are often in strong demand, returning profitable yields for investors.
Mr Seeney said the interest in the latest land release followed a similar trend in stage one and two earlier this year, with more than 70 per cent of properties snapped up by buyers.
He explained: "This exceptional response further confirms the need for affordable, diverse land lots, and house and land packages in our regional and resource towns."